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Tuesday, Bloq, a cryptography firm co-founded by SegWit2x developer Jeff Garzik, announced that he is developing Metronome, a cross-block cryptocurrency that will be distributed by through an initial offer of coins (ICO) of December.
Garzik says among other things that Metronome deals with "existential threats, forks" and "development dramas" because its ecosystem of intelligent contracts will allow users to make transactions on blockchains and to keep the value of their assets. an underlying blockchain is compromised.
The announcement comes less than a month before the scheduled date for the SegWit2x hard fork, an "upgrade" of the Bitcoin protocol that is the subject of controversial debate within the cryptocurrency community. Unsurprisingly, the opponents of SegWit2x had a lot to say about Metronome – and the timing of its release.
OpenBazaar Project Manager Brian Hoffman – a former promoter of SegWit2x who still supports scaling up – commented that it was "somewhat strange" that Garzik is announcing a ICO right before SegWit2x activation. "I'm going to take stupid times to throw a new coin for $ 500, Alex," he tweeted.
I'm going to take stupid times to launch a new $ 500 coin Alex
– brian hoffman (@brianchoffman) October 24, 2017
"I am speechless", co-founder of Chaincode Labs Alex Morcos "Why spend all our time on [the SegWit2x] fiasco, when [the] ] only the developer of the project does not even care [?] "
Noting that Metronome's list of advisors includes Vinny Lingham, Blockstream OSC's Samson Mow accused the developers of SegWit2x and supporters of creating a problem – a contentious fork – as a pretense for creating a cryptocurrency that "solves" this issue.
So, everyone is pushing a fork to screw up #Bitcoin, is now shilling for an ICO that fights the forks … We have just reached #PeakScam. https://t.co/zPBEFKLvjv
– Samson Mow [NO2X] (@Excellion) October 24, 2017
Lead developer Peter Todd has made a similar criticism, commenting curtly that "Creating [SegWit2x] then launching an ICO whose value claim relates in part to ranges, is probably not what my lawyer would advise. "
E-Corp CEO – a parody account that compares SegWit2x to ECoin, the fictional and centralized digital currency of drama USA Network Mr. Robot ] – expressed his disapproval to Garzik for having decided "to focus on his own centralized room instead of finishing what he started at ECoin".
Very disappointed @jgarzik decided to focus on his own centralized room instead of finishing what he started at #ECoin
– CEO of E-Corp (@ECorpCEO) October 24, 2017
"If you want more money, we can pay more," proposed E-Corp, informing him of not having ICO.
Perhaps the most humorous tweet came from Garzik himself – three years ago, long before anybody thought ICO would become a major source of fundraising for one more contribution $ 3 billion.
I just learned a new term from the world #altcoin: ICO. Initial offer of coins. (IMO: signaling of "emptying" of "pump-n-dump"; h / t @zmillion)
– Jeff Garzik (@jgarzik) August 26, 2014
"I just learned a new term altcoin world: ICO," writes Garzik in August 2014. "IMO: signaling the" dump of "pump-n-dump".