TechFlow news — Blockstream CEO Adam Back said on May 5 during a Twitter debate with journalist Layah Heilpern, "Bitconnect, Charles Ponzi, Ethereum, Onecoin, Cardano, Ripple, Bernie Madoff, Stellar, and Dan Larimer—all look very similar." Charles Ponzi and Bernie Madoff are two of the most infamous creators of Ponzi schemes, while Bitconnect and OneCoin are widely regarded as cryptocurrency Ponzi scams. By this statement, Back drew a comparison between such scams and Ethereum, Ripple, Stellar, as well as Dan Larimer (BM).
In response to criticism that Bitcoin maximalists are too closed-minded and conservative, hindering innovation, Adam Back argued that most secure and practical innovations actually originate from the Bitcoin ecosystem or related research. He emphasized not mistaking altcoin marketing hype for genuine innovation, noting that Bitcoin has no marketing budget.
