- Crypto Tea talks about Bitcoin’s competitors and their decentralized systems.
- The Twitter analyst believes Bitcoin was meant to be slow.
- Crypto Tea argues that several other popular blockchains aren’t really decentralized.
In a much speculated Twitter thread, Bitcoin enthusiast Crypto Tea assessed decentralized cryptos and questioned their credibility with that of Bitcoin. She claims Bitcoin was designed to be slow to allow all nodes to sync at the same time. Crypto Tea thinks decentralization would not be possible if Satoshi made the block time faster.
Crypto Tea takes the first punch at BNB. In her understanding, BNB markets itself as decentralized. But then, she revealed that during an incident that led to an exploit, BNB stopped the blockchain within minutes and also reviewed the code. She claims that If Binance can freeze users’ money and change codes, how is it decentralized?
The cryptos that claim to be faster than bitcoin are centralized, so they cannot be compared to Bitcoin.
Secondly, the hit came towards Terra Luna; Crypto Tea said Luna ‘marketed itself as decentralized’. She mentioned in her tweet saying, “But when things started to go wrong they halted the blockchain with one phone call. If Luna could freeze your money, is it decentralized?.”
Then the Bitcoin enthusiast planted a blow to Solana. In her Twitter thread, she stated: If a single point of failure was present, it is not decentralized.
In her frenzy of tweets, Crypto Tea continued the attack all crypto competitors. She did not spare Ethereum and said, “Even Ethereum is not decentralized. Ethereum foundation acts as a central bank, changing the monetary policy to inflate and deflate the supply.” She said that Vitalik being the founder would instantly push through a code change if the situation was bad.
Crypto Tea also believes “fast blockchains are centralized.” Moreover, according to her, Bitcoin is instant, anonymous, decentralized, energy efficient, and extremely cheap. And she announces that “there is no second best” to Bitcoin.
The Bitcoin fanatic faced backlash for her knowledge of tokens and decentralized systems. A user named EverythingGolf replied saying ‘Everything you said is wrong.’ Whereas, another user, Lukas Philipp explained: “How fast a blockchain is doesn’t really much say about its decentralization. It could also be that the block size is just much lower and therefore much quicker to process.”
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