Ethereum (ETH) leaders must choose between supporting the capitalist economic system or…

Ethereum (ETH) leaders must choose between supporting a capitalist or socialist economic system, but they cannot do both, according to digital asset marketplace Wintermute CEO Evgeny Zhivoy.

“Either you build capitalism or you build planned socialism. “I’m sorry, you can’t really have both,” Gaevoy announced in a June 6 article on Concerning the Rise of Celebrity Coins.

He claimed that “if ETH fails in the future, it won’t be because ‘Solana is faster’, it will be because the ETH ‘elite’ are still stuck in a massive contradiction.

Givoy argued that Buterin, Adams and “many others” within the Ethereum community face a contradiction in claiming to want to create products that make a positive difference in society and are ultimately “worthy”, while at the same time continuing to try to solve the problem as much as possible. extractable value. (MEV) — The maximum value that can be extracted from a set of transactions based on their order.

“Vitalik, Hayden and many others are trying to “solve capitalism” by arguing that what we build can only be respected “if the end is worth it (health care, open source software, art, etc.) “or that “the world’s best space builders are motivated by social change,” he wrote “The Positive.”

But at the same time, he argued that blockchain technology itself “leads to the creation of systems based on purely capitalist incentives.”

Buterin’s Recent Comments on Celebrity Coins

This follows Buterin’s recent comments that celebrity coins don’t contribute anything “valuable” to society.

On June 5, Cointelegraph reported that Buterin believes the goal of the project should be that even if the tokens eventually become worthless, the average participant should still feel good and happy about their participation.

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Furthermore, he added, financialization is only justified if it serves a purpose that brings value to society, such as improving health care, supporting open source software and promoting art and creativity.

“I’m completely dissatisfied with the ‘celebrity experience this cycle’ so far,” Buterin wrote on X.

Meanwhile, Adams claimed he had “no problem” with celebrity pieces. However, he criticized rapper Iggy Azalea for her condescending remarks towards Buterin, whom he described as “the best builder in space”. Adams suggested that Azalea could have “used the profits to donate to a social cause or something.”

Source: Iggy Azalea

On June 6, Cointelegraph reported that Azalea’s MOTHER meme coin defied a failing trend seen in other celebrity meme coins, hitting a new all-time high of $0.1272.

At press time, MOTHER is trading at a new high of $0.1522, according to CoinGecko data.

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