Crypto Twitter (CT) is a grueling battleground between digital currency enthusiasts, company executives, maximalists, journalists, lawyers, and so-called thought leaders and luminaries. For instance, on May 8, reporter Larry Cermak posted data concerning Blockstream and its sidechain project Liquid’s performance over the last seven months. After Cermak shared unbiased figures and queried an alleged conflict of interest, the Blockstream account instantly blocked the journalist.
Liquid’s Lack of Traction Sparks Intense Crypto Twitter Debate
CT is a wonderful place so long as you toe the maximalist party line, sing kumbaya, and tell everyone how great BTC is on a daily basis. Because if you don’t repeat these values, you just might be designated persona non grata. This week on CT, the founding partner at Adamant Capital, Tuur Demeester, tweeted about Blockstream’s latest Liquid announcement and said the sidechain “could become a DTCC for Bitcoin.” In response, The Block analyst Larry Cermak shared data concerning Liquid’s overall performance in the last seven months.
“So far, in its 7-month history, Blockstream is barely gaining any traction,” Cermak replied. “Liquid has had 61,700 total transactions and is currently capitalized with $313,000 from the net value of less than 400 peg transactions.”
Demeester responded: “Let’s wait until tx fees on the main chain spike again.” The following day, after Cermak posted his tidbit of publicly available data, he found out he was blocked by the official Blockstream Twitter account. “This is pretty pathetic — Yesterday, I posted data that showed that Blockstream’s Liquid isn’t doing well (so far) after being live for 7 months,” Cermak tweeted.