Charles Hoskinson, the influential CEO of Cardano, addressed the recent uproar within the crypto community.

This controversy was triggered by an old video in which he criticized Bitcoin's role in the industry. The video resurfaced on social media and captured

Influential Cardano CEO Charles Hoskinson has addressed the recent commotion within the crypto community. The controversy began with an old video resurfacing on social media, in which Hoskinson can be heard criticizing Bitcoin’s role in the industry.

In the video, Hoskinson suggests that the crypto sector no longer requires Bitcoin to thrive. He hints at the possibility of newer technologies emerging and taking over the mantle of “digital gold.”

The video sparked a wave of reactions from both Bitcoin proponents and Cardano supporters. Here's a closer look at the key takeaways and how the community reacted.

Bitcoin Needs Crypto Industry to Survive: Charles Hoskinson

The controversy began when a past clip of Hoskinson, now circulating on social media, reveals his skepticism about Bitcoin’s long-term viability. He suggests that another cryptocurrency with strong scientific backing could offer equal, if not superior, security.

“Bitcoin needs the industry to survive… But the industry doesn’t need Bitcoin anymore. I just dont see how that survives. It’s a religion, its not an ecosystem. So no, we don’t necessary need Bitcoin,” Hoskinson asserted in the video.

Hoskinson also stated that Bitcoin needs to adapt and change. Otherwise, it will lose its first-mover advantage. Moreover, he compared Bitcoin to Microsoft’s Windows operating system.

“People stopped caring about the desktop, and now we all have cell phones and tablets, and look at Android and iOS versus Windows, the adoption race,” Hoskinson said.

Bitcoin Proponents Respond to Hoskinson

As the video continued to gain traction, Bitcoin proponents, such as noted analyst Tuur Demeester, voiced their critiques. Demeester pointed out Cardano’s diminishing market capitalization relative to Bitcoin over the past three years.

This critique comes despite the recent ‘Chang’ hard fork, aimed at bolstering Cardano's governance.

Hoskinson Pens Reflective Response to Backlash

In response to the backlash, Hoskinson took to X (Twitter) to pen a lengthy and reflective post. He discussed the challenges and emotional journey of leading Cardano, highlighting the project’s achievements and the harsh realities public figures face in crypto.

“One of the deepest lessons I’ve taken to heart over the past decade is that becoming a public figure means you turn into a human rorschach test,” he wrote.

Hoskinson's response also touched upon Cardano's unique accomplishments. He described it as one of the greatest technical achievements in human history. He compared its distributed system, which operates seamlessly across over 100 countries, to a “decentralized nation.”

“This dwarfs Bitcoin. It’s unique, and books will be written about what has happened. Cardano is now a governance virus that is living, self-replicating, and self-sustaining. It has intelligence and a will to survive and grow. Nothing can shut it down. Nothing can stop its growth,” Hoskinson remarked.

Cardano Community Rallies Behind Hoskinson

Despite the criticism, the Cardano community rallied behind Hoskinson. They highlighted his early and significant contributions to the crypto industry, including his involvement in offering a Bitcoin course and his co-founding role at Ethereum.

Several members of the Cardano community also expressed gratitude for Hoskinson's leadership and vision. They highlighted Cardano's technological advancements, such as its proof-of-stake consensus mechanism and decentralized governance model.

“The fact that people are still surprised by Charles's opinions on Bitcoin after years of him being outspoken about it, is mind boggling,” wrote one Reddit user. “People just want to hear what they want to hear and get triggered when they dont.”

“Hoskinson is a pioneer in the crypto space. He was offering a Bitcoin course in 2013 and co-founded Ethereum,” commented another Reddit member. “His contributions are undeniable. People can agree or disagree with his opinions on Bitcoin, but the man has the right to express them.”

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