Consensys CEO Joseph Lubin Backs Decentralization as the Path to “Real Capitalism” in Response to Vitalik Buterin’s Irony-Laced “Make Communism Great Again”
Consensys CEO Joseph Lubin has weighed in on Ethereum co-founder Vitalik Buterin’s recent tongue-in-cheek post, “Make Communism Great Again,” suggesting that decentralization could finally enable “real capitalism.”
Lubin’s remarks were in response to Buterin’s ironic tweet, which seemingly referenced his past exploration of “degen communism,” a concept that examines wealth distribution in decentralized systems.
Lubin also defended Buterin’s statement, explaining that the Ethereum co-founder often faces criticism online, which leads him to “provocatively and ironically lash out with a preposterous statement.”
While Lubin did not elaborate on how “pure capitalism” could function, he emphasized that decentralization holds the potential to make it a reality.
Buterin’s Vision of “Degen Communism”
Earlier in April 2024, Buterin published an article suggesting that governments and crypto projects could use market-driven chaos to benefit society. He cited Austin, Texas as an example of “degen communism” in action, pointing to the city’s relaxed housing laws that led to a surge in apartment construction and a 10% drop in rent prices since 2022.
Buterin argued that this decline in rent costs demonstrates how free-market forces can drive widespread benefits though some long-time residents may disagree with the outcome.
