Joseph Lubin news

Co-founder of @ethereumproject & Founder of @ConsenSys. Building the decentralized Web 3.0 on #Ethereum. Active since 2011.

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Joseph Lubin and Jimmy Song Engage in $500K Bet Over the Future of Dapps

Coinspeaker Joseph Lubin and Jimmy Song Engage in $500K Bet Over the Future of DappsLast year during the Consensus 2018 conference, Ethereum co-founder Joseph Lubin and Bitcoin developer Jimmy Song engaged in a heated discussion over the future of DApps. On one hand, Lubin was bullish that decentralized applications (DApps) have a bright future. But Song disagreed to this and decided to bet his money on it. He stated:“The only reason dapps exist is to raise money from gullible people or from greedy FOMO people, and that’s essentially what the ethereum platform has done.”Being a hardcore Bitcoiner, Song believes it is the only viable blockchain product. He also thinks that other developments in the crypto space will die ahead in time.However, things have lingered upon the last year with Song accusing Lubin of “weaseling” out of the bet. Just before the Consensus 2019 conference, Song called out Lubin on Twitter reminding him of their last year’s discussion.As Consensus/MCC and other events near, I want to remind everyone of what happened last year. It's been almost a year and @ethereumJoseph is still squelching on this bet that he proposed in public and on stage. Joe, your ego is writing checks your body can't cash. pic.twitter.com/1V1gkidbGF— Jimmy Song (송재준) (@jimmysong) May 6, 2019Finalizing the Terms of BetWhile meeting again at this year’s ongoing Consensus Conference, the two crypto mavericks have sealed the terms of the bet, reports CoinDesk. If Ethereum does well four years from now, Song will pay Lubin 810.8 ETH tokens or its USD equivalent. At the current Ethereum (ETH) price, this equals to nearly $185K USD.But if Ethereum fails to meet its expectations, Lubin will send Song 69.74 BTC tokens equivalent to $560K at the current price. Note that the payment will happen only in ETH and BTC as per the fixed number of tokens. Thus, if Ethereum were to considerably do well in the next four years by 2023, its price would be much high than it is now. On the other hand, if ETH fails and BTC does quite well, Song will take a hefty amount from the bet.Both Lubin and Song are aware of this and betting their horses. Song called it “a maximum-pain kind of bet”. “Skin in the game, that’s the idea,” he said. Song further told Lubin that “I want it to hurt for you. I don’t want you to feel like you are donating to charity.”The terms of the bet include that the Ethereum blockchain should have a minimum of 15 unique DApps, wherein each DApp should have 10,000 daily active users and 100,000 monthly active users for any of the six-calendar months in the year up to May 23, 2023.The bet shall be mediated by a trusted third-party which remains unknown at the moment. However, both the sides will be working on a shared document available to CoinDesk.Speaking on this matter Lubin said:“Jimmy’s thesis was that there would be no significant applications on blockchain, and the only thing relevant in blockchain was bitcoin. My thesis is bitcoin is awesome, and there’s a narrow set of use cases built on bitcoin and that’s wonderful. We love that, but decentralized applications are also really useful.”Joseph Lubin and Jimmy Song Engage in $500K Bet Over the Future of Dapps
Coinspeaker

Do Dapps Have a Future? Joseph Lubin and Jimmy Song Make a $500k Bet on It

Do decentralized applications (dApps) have a future? Will they ever get consistent users? Do they pose any threat to centralized applications? Two people are willing to risk over $500,000 on this. Ethereum co-founder Joseph Lubin and Bitcoin developer Jimmy Song disagreed on the future of dApps a year ago. During last year’s Consensus conference, the two outspoken crypto leaders decided to put their money where their mouths were. However, the two never finalized the terms of the bet. Well, now they have. As reported by CoinDesk, the two shared the stage again at this year’s conference. And as expected, the bet was one of the main talking points. During the past year, Song has called Lubin out, accusing him of cowering from the bet. He even took to Twitter to remind Lubin that he was still waiting for him to honor the bet. As Consensus/MCC and other events near, I want to remind everyone of what happened last year. It's been almost a year and @ethereumJoseph is still squelching on this bet that he proposed in public and on stage. Joe, your ego is writing checks your body can't cash. pic.twitter.com/1V1gkidbGF — Jimmy Song (송재준) (@jimmysong) May 6, 2019 The Bone of Contention The bet revolves around whether decentralized applications, especially those on Ethereum’s blockchain are viable in the long term. Song believes they aren’t. He stated: “The only reason dapps exist is to raise money from gullible people or from greedy FOMO people, and that’s essentially what the ethereum platform has done.” To Song, Bitcoin is the only viable blockchain product and in time, all the other developments will die off. Expectedly, Lubin stood up for dApps, expressing his firm belief that they are the foundation for the next web revolution. He explained: “Jimmy’s thesis was that there would be no significant applications on blockchain, and the only thing relevant in blockchain was bitcoin. My thesis is bitcoin is awesome, and there’s a narrow set of use cases built on bitcoin and that’s wonderful. We love that, but decentralized applications are also really useful.” The Terms The terms indicate that should applications on the Ethereum blockchain be doing well in four years, Song will pay Lubin 810.8 ETH. At the current price, thee tokens are worth $167,000. If the dApp ecosystem will have fizzled out, Lubin committed to paying Song 69.74 BTC. At the current price, this is worth $560,000. Depending on how well either Bitcoin or Ethereum performs, the loser could end up paying millions of dollars come 2023. The terms also indicate that for Lubin to win, there must exist at least 15 unique dApps, each achieving at least 10,000 daily users and 100,000 monthly active users for any six calendar months up to May 23, 2023. The bet was first made in May last year. However, since then, there have been variations in the value of the tokens at stake. Bitcoin was trading at $8,577 then, and so the difference is slight compared to today’s prices. Ethereum, on the other hand, has seen great declines. At the time, it was trading above $720. Currently, it’s at $207, a 73 percent decline in value. Further, Song made it clear that he wanted the bet to cause maximum pain to Lubin, if Song wins. With some other bets in the past, the proceeds have gone to charity, but not this time. Song insisted that he wanted Lubin to send him the BTC personally, a term Lubin was fine with. And as always with crypto, it ends in a friendly tone. The two hugged it out at the end, with each promising to honor the bet. Only time will tell.   Image(s): Shutterstock.com The post Do Dapps Have a Future? Joseph Lubin and Jimmy Song Make a $500k Bet on It appeared first on NullTX.
NullTX

Ethereum [ETH] ecosystem is far superior than any other project in the market, suggests Joseph Lubin

With recent developments in the cryptocurrency ecosystem, Ethereum 2.0 is one of the most prominent projects currently under progress. Joseph Lubin, Co-Founder of Ethereum, recently sat down with Ran NeuNer of CNBC Crypto Trader, discussing the progress of the new project. Lubin stated that the Ethereum 2.0 system would be called Serenity and it would be released for users in four phases, out of which three will be major phases. The three phases are termed as phase zero, one and two. He said, “Phase zero should be delivered within a few months; there are eight teams that all have working code so that’s based on proof-of-stake, which itself that’s Kasper and the teams are now working together to get their code bases to get in sync.” He also mentioned that there was a functional testnet available, where all teams were trying to get their code in sync. Lubin suggested that phase zero might be releasing in a “few months” and it will be connected to Ethereum 1.0. Ethereum 1.0 and Ethereum 2.0 will be running parallely, once deployed. Lubin added that presently, there was an option of token sharing from 1.0 to 2.0. However, discussions were going on to develop a two-sharing arrangement between the systems. During the interview, Lubin also emphasized that he was more concerned with Ethereum’s milestones in the “developer side of things.” He added, “My view of the ecosystem is mostly from the developer/builder perspective and so speculators coming in and out of the ecosystem is irrelevant to me.” Joseph Lubin believes that Ethereum ecosystem is larger than any other system in terms of infrastructure, in terms of developers, and in terms of significant organizations utilizing it. He stated that there were “some really good projects” currently under development. However, they will take them some time to reach the levels of Ethereum 2.0, he added. A few days back, Lubin had spoken about Ethereum’s market competitors, TRX and EOS, with respect to their functionality. However, he implied that Ethereum was a far superior one. He revealed, “Some projects are focusing on marketing like Tron and EOS. Both of them have taken the approach of raising a bunch of money and use the motto ‘fake it till you make it’. There are definitely other good projects in the space and many have had close ties to Ethereum from the start.” The post Ethereum [ETH] ecosystem is far superior than any other project in the market, suggests Joseph Lubin appeared first on AMBCrypto.
AMBCrypto

Ethereum [ETH] ecosystem is far superior to any other projects present in the market, states Joseph Lubin

With the recent ongoing developments in the cryptocurrency ecosystem, Ethereum 2.0 is one of the most prominent projects currently under progress. Joseph Lubin, Co-Founder of Ethereum, recently sat down with Ran Neuner, CNBC Crypto Trader host, and discussed the current progression of the new project. Lubin stated that the Ethereum 2.0 system would be called Serenity and it would be released for the users in four phases, out of which three will be major phases. The three phases are termed as phase zero, one and two. He said, “Phase zero should be delivered within a few months; there are eight teams that all have working code so that’s based on proof-of-stake, which itself that’s Kasper and the teams are now working together to get their code bases to get in sync.” He also mentioned that there was a functional testnet available, where all the teams were trying to get their code in sync. It was indicated by Lubin that phase zero might be releasing a period of “few months” and it will be connected to Ethereum 1.0. Ethereum 1.0 and Ethereum 2.0 will be running in parallel once deployed. Lubin added that currently there was an option of token sharing from 1.0 to 2.0 but discussions were going on to develop a two-sharing between the system. In the interview, Lubin had also emphasized that he was more concerned with the milestones Ethereum achieves in the “developer side of things” and infrastructure growth of the system. He added, “My view of the ecosystem is mostly from the developer/builder perspective and so speculators coming in and out of the ecosystem is irrelevant to me.” Joseph Lubin believed Ethereum ecosystem was larger than any other system in terms of infrastructure, in terms of developers, and in terms of significant organizations utilizing it. He stated there were “some really good projects” currently under development but it will take each of the time to reach the levels of Ethereum 2.0. A few days back, Lubin had also discussed Ethereum’s market competitors, TRX and EOS, in terms of functionality, but implied Ethereum was a far superior one. He revealed, “Some projects are focusing on marketing like Tron and EOS. Both of them have taken the approach of raising a bunch of money and use the motto ‘fake it till you make it’. There are definitely other good projects in the space and many have had close ties to Ethereum from the start.” The post Ethereum [ETH] ecosystem is far superior to any other projects present in the market, states Joseph Lubin appeared first on AMBCrypto.
AMBCrypto

Joseph Lubin Maps Out Why Ethereum Will Be 1,000 Times More Scalable In Two Years From Now

Joseph Lubin Believes Ethereum Will Be 1,000 Times More Scalable In Two Years Joseph Lubin, the co-founder of Ethereum (ETH) and founder of ConsenSys, explained that Ethereum’s blockchain would become 1,000 times more scalable in 2 years. He said that during a recent interview with Cointelegraph. Joseph Lubin Believes In Ethereum’s Scalability During this conversation, […]
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Quotes, Week 22 ’18

Jimmy Wales, Martin D. Weiss, Spencer Bogart, Joseph Lubin and Xi Jinping speaking on cryptocurrency and blockchain issues.

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US Telecoms Giant AT&T Now Accepting Crypto Payments via BitPay

US Telecoms Giant AT&T Now Accepting Crypto Payments via BitPay United States telecom and media giant AT&T now accepting cryptocurrency for paying phone bills online, according to an official press release on May 23. AT&T will process bills paid in cryptocurrency using crypto payments platform BitPay. BitPay is a platform that converts cryptocurrencies to fiat […] Cet article US Telecoms Giant AT&T Now Accepting Crypto Payments via BitPay est apparu en premier sur Bitcoin Central.
Bitcoin Central

Now Is Not The Time’ Rabobit Cryptocurrency Wallet Project Canceled By Dutch Bank Rabobank

Rabobank Goes Back On Its Rabobit Crypto Wallet Project Netherland-based bank Rabobank has pressed the pause button on its quest to build a cryptocurrency wallet according to TNW. The project which started since early last year is reportedly being abandoned by the bank which sought to bridge the gap between bank accounts and cryptocurrency. A […]
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AT&T Will Now Accept Bitcoin For Your Phone Bill

US-based mobile users can now use bitcoin and cryptocurrency to pay their bill thanks to a new partnership between AT&T and BitPay. AT&T Will Take Your Bitcoin Bitcoin’s path to mass adoption continues forward as major US telecom giant AT&T has announced that customers now have the option to pay their bills in cryptocurrency. The addition of crypto payments makes AT&T the first major U.S. mobile carrier to offer this option and Kevin McDorman, AT&T’s vice president of Communications Finance Business Operations said: We’re always looking for ways to improve and expand our services [and] we have customers who use cryptocurrency, and we are happy we can offer them a way to pay their bills with the method they prefer. Currently, the crypto payments are limited to bill payment only and AT&T did not specify whether customers would be able to purchase smartphones and other accessories online or in AT&T’s brick and mortar stores. Customers interested in making crypto payments can simply select BitPay as the payment option when they login to their accounts online or through the myAT&T app. Will Corporations FOMO into Cryptocurrency? AT&T is not the first major US-based corporation to accept cryptocurrency payments as Overstock, Expedia, Subway, Shopify, and Microsoft are just a few of the major multinational corporations accepting crypto payments. Just recently, Whole Foods and a slew of other big-name retailer have also started accepting bitcoin via another third-party payment partnership. But considering AT&T’s name recognition and dominance in the telecom sector the announcement is sure to make waves and is extremely positive news for the cryptocurrency sector. Are you going to spend your bitcoin on a cell phone bill? — Mr.Hodl (@MrHodl) May 23, 2019 As one would expect, not everyone is over-the-moon about the telecom’s new found love for cryptocurrency. Morgan Creek Digital co-founder Anthony Pompliano excitedly tweeted the news and is currently being bombarded by an array of semi-skeptical replies to AT&T’s announcement. Would you use your Bitcoins to pay your phone bill? Share your thoughts in the comments below!  Images via TradingView.com, Twitter, Shutterstock The post AT&T Will Now Accept Bitcoin For Your Phone Bill appeared first on Bitcoinist.com.
Bitcoinist

AT&T now accepts Bitcoin as payment for its 150+ million subscribers

AT&T, the world’s largest telecommunications company, became the first major U.S. mobile carrier to accept Bitcoin for payment. AT&T customers will now be able to select BitPay as a payment option, allowing for bill payment in Bitcoin and Bitcoin Cash. The telecom company had over 150 million subscribers as of Q4 2018. “We’re always looking for ways to improve and expand our services,” said Kevin McDorman, vice president, AT&T Communications Finance Business Operations. “We have customers who use cryptocurrency, and we are happy we can offer them a way to pay their bills with the method they prefer.” This story is in progress. The post AT&T now accepts Bitcoin as payment for its 150+ million subscribers appeared first on CryptoSlate.
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