Vitalik Buterin, co-founder of Ethereum, has voiced reservations over the political strategy of the crypto movement. He argues that just endorsing candidates based only on their support for crypto is insufficient.
He stressed the need for political candidates to endorse overarching principles such as decentralization, privacy, and technological freedom. He also cautioned against the potential long-term dangers of limiting the criteria for supporting political politicians.
Buterin criticized the increasing tendency to endorse political candidates exclusively based on their support for crypto, highlighting the significant risk of betraying the principles that initially attracted individuals to the crypto community.
He highlighted the cypherpunk principles of technological autonomy, confidentiality, and opposition to constrictive copyright legislation, and encouraged the community to endorse political leaders who respect these ideals across other domains, not limited to crypto.
However, Buterin also emphasized the dangers of endorsing politicians exclusively based on their support for cryptocurrency, as they may not align with the wider ideological principles of the crypto community, potentially resulting in confrontations. He recommended conducting a study on politicians’ previous stances on relevant subjects to anticipate their future dependability.
The crypto community has engaged in a discussion on Buterin’s approach, with some asserting that supporting candidates who are in favor of cryptocurrencies is often necessary due to political circumstances, while others propose finding a middle ground between idealism and political realism to attain concrete outcomes.
Nevertheless, Buterin’s viewpoint has weight, particularly with the endorsement of pro-crypto politicians by numerous industry executives, including Charles Hoskinson, who encouraged the community to vote for cryptocurrency in the November election.
