Home » “Bitcoin doesn’t work” – Wikipedia founder attacks cryptocurrency

“Bitcoin doesn’t work” – Wikipedia founder attacks cryptocurrency

by Patricia

Not so long ago, Bitcoin (BTC) was one of the cryptocurrencies with which you could donate to Wikipedia. But that’s no longer the case, and the founder of the online encyclopedia has been very critical of the cryptocurrency of late. What does he have against it?

Wikipedia founder slams Bitcoin (BTC)

Jimmy Wales shared his brief but scathing opinion in a post on X. The Wikipedia founder believes that banks are far more secure than cryptocurrencies, and that they work better:

“I’ve lost the password to my bank account and I’ve lost my entire fortune. No, actually that didn’t happen, because banks work, and Bitcoin doesn’t. “

It’s worth remembering that Wikipedia had been accepting cryptocurrency donations since 2014, making it a forerunner in the field. But the online encyclopedia then broke away from this during 2022, by a vote of its community.

Bitcoin community reacts to provocation

The Bitcoin community reacted unsurprisingly to Jimmy Wales’ statement. Several commentators pointed out that banks offer functional services, but that a large part of the world’s population still doesn’t have access to a bank account. And that successive banking crises show the fragility of the system, which does not rely on consumers. Others were even more vociferous:

“If Wikipedia had bought Bitcoin a few years ago like I suggested, you wouldn’t have to beg for donations every year. “

The Bitcoin community also reminded us that while banks work, they can nonetheless do nothing to combat the progressive loss of purchasing power:

“Your password doesn’t protect your wealth “

Jimmy Wales will in any case have been the talk of Wikipedia, and its distended links with the world of cryptocurrencies. Currently, the online encyclopedia accepts donations by credit card, PayPal, as well as Google Pay.

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