Blockchain
John Deaton Holds 75% of Bitcoin, Faces Maximalist Criticism
Attorney John Deaton shared his perspective on the challenges faced as he speaks out against excessive government intervention in the cryptocurrency space. Despite his commitment to the principles of freedom and justice, he talks about the criticism he has received, particularly from himself Bitcoin enthusiasts, for his involvement in assisting Ripple holders.
In acknowledging John Deaton’s contribution, Scott Melker expressed his disappointment, noting that it is disheartening to witness rejection from Bitcoin enthusiasts for helping Ripple holders. Scott firmly believes that John’s actions would remain unchanged regardless of the asset involved, as he is committed to doing what is right for those in need.
Instead of recognizing John’s success in uniting 75,000 individuals with a common cause and supporting them, criticism focused solely on his choice of cryptocurrency.
Deaton expressed his shock, saying he couldn’t understand the situation. He stated that government overreach is government overreach, regardless of the specific resource involved. Deaton recounted how, despite having a significant investment in Bitcoin, he was labeled an “XRP lawyer” when he presented his case to assist Ripple holders.
He found it troubling that Bitcoin maximalists derogatorily referred to him as such, especially when the main issue was government overreach. Deaton argued that regardless of his personal views on specific resources, libertarian principles should dictate the fight against excessive government control. He was saddened to see some Bitcoin enthusiasts celebrate the SEC’s actions against Ripple early on, despite the broader implications for the crypto space.
Deaton pointed out the absurdity of deeming assets purchased by individuals, such as his daughter, illegal simply because they were unaware of the underlying company’s actions. She pointed out that such actions should offend any libertarian or Bitcoin supporter, regardless of his or her stance on XRP or any other asset.
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