According to Jimmy Song a Bitcoin engineer-turned-instructor, seven months after he and Joseph Lubin announced a public wager concerning the future of the Ethereum Blockchain, the ConsenSys CEO had put funds where his mouth is. We can recall that back in at Consensus, Lubin and Song both announced that they would like an audacious wager at the event “any amount of bitcoin.” Both men bet that the availability of dApps (decentralized apps) with real user traction will be more widespread in the next five years. Now Song has alleged that Lubin hasn’t put any money in the wager.
Ethereum (ETH) Price Today – ETH / USD
Song: Lubin Shouldn’t be Taken Seriously Regarding His Wager
Despite the fact that the bet was fully publicised at the time it occurred with Lubin on the supporting side and Song on the opposite side, the conditions of the wager was supposed to be addressed out subsequently. Using social media platform Twitter on December 22, Song alleged that in spite of Lubin’s bullish statements towards decentralized applications and consistently confident tone regarding the subject of creating a new decentralized paradigm on the Ethereum (ETH) Blockchain, he is yet to put any funds behind his bet or prediction. Which according to Song shows that Lubin shouldn’t be taken seriously when giving his bullish predictions.
Lubin’s Ethereum dApps Wager
The highly-discussed bet buys the ConsenSys CEO has become a bone of contention for many months, with both individuals never reaching a concrete agreement on the exact terms of the bet.
Song during an appearance on the Unchained Podcast back in June maintained his stance that Bitcoin (BTC) will always be a valuable and prime digital currency because it is a “sound currency.” According to the Bitcoin-engineer, Lubin could actually win the bet if at least five decentralized applications have at least 10,000 daily active users plus 100,000 active monthly users in an additional 6 month period. On the other hand, Lubin has been consistently non-committal when it comes to highlighting the exact terms of the bet that he would willingly agree to.
Lubin’s Ethereum dApps Investments via ConsenSys is Sufficient Enough to Render His Bet Trivial
The type of reactions Song’s twitter post received varied greatly, with a section of users arguing that Lubin’s extensive Ethereum dApp investments through ConsenSys platform is enough to be classified as sufficient “skin in the game” to render his bet trivial and unimportant. While a host of others cited that after a few months of operations, ConsenSys hasn’t really produced a single successful decentralized application within the parameters pointed out by Song. Still, others have argued that if Ethereum’s dApps take off as Lubin predicts, that would not say a lot about the Ethereum Blockchain because the dApp technology is also based on Bitcoin (BTC)
Song’s accusations of the ConsenSys CEO come during a difficult period for the startup which has been severely affected by bearish crypto market conditions. CCN reported on Sunday that Lubin had responded to news regarding his recent ConsenSys layoffs in denial that the reorganisation in recent times is significant for any kind of long-term downward action in Ether’s fortunes.