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    ETF analyst sparks outrage with ‘blatant misinformation’ about Ethereum

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    Bloomberg’s ETF expert, Eric Balchunas, sparked controversy in the Ethereum community by sharing a book excerpt that claimed the US government could destroy Ethereum by asking Amazon to turn off its cloud services. Critics pointed out that only a quarter of Ethereum nodes use Amazon Web Services as a host. The excerpt also suggested that Ethereum’s co-founder could be coerced into handing over Ether. Ethereum educator Anthony Sassano accused Balchunas of spreading misinformation, while Ethereum developers emphasized “solo staking” to decentralize blockchain control.

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    Bloomberg’s top expert on exchange-traded funds (ETF), Eric Balchunas, stirred things up in the Ethereum cryptocurrency community. A bunch of folks are claiming he spread wrong info in a social media post that’s now been deleted.

    On October 7, Balchunas fired off a post that included a snippet from Benjamin Hart’s book, “Bitcoin: Beginner’s Guide.” He also expressed his opinion that Ether – the cryptocurrency behind Ethereum – just doesn’t measure up to Bitcoin in terms of security. This was in response to ETF Store president Nate Geraci asking for a good book recommendation on crypto.

    One of the shocking claims in the book excerpt is that the US government could squash Ethereum by simply asking Amazon to switch off its cloud services (AWS). Popping this bubble, Ethernodes suggests that only just over a quarter of Ethereum nodes actually use AWS as a host. So, it wouldn’t be enough to bring the whole thing crashing down.

    The book also suggested that any bad actor or hostile organization could simply snatch Ethereum’s co-founder, Vitalik Buterin, and force him to hand over as much Ether as they want.

    These elements did not sit well with Ethereum educator Anthony Sassano. In a direct response to Balchunas’ removed post, Sassano accused him of peddling blatant and outright propaganda. Sassano admonished him for sharing such baseless information and suggested that his only reason for deleting the post was to avoid being called out.

    Agreeing with Sassano, Jimmy Ragosa, a product manager at ConsenSys, said the shared excerpt was pure propaganda.

    Balchunas’ colleague at Bloomberg, James Seyffart, couldn’t resist chiming in on the now-deleted post, saying he was excited about the replies it was going to get.

    Not one to back down, Balchunas responded stating that he did not have time to answer all the looming responses and decided to just leave Bitcoin-section comments up.

    Meanwhile, Ethereum developers have been emphasizing “solo staking” with lower hardware requirements to spread out the blockchain control.

    Source: Cointelegraph

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