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Vitalik Makes Fun of 3AC's Yacht Purchase and Sends a Meaningful Message

Dave - Cryptocurrency Enthusiast

  • Su Zhu's $50 million boat purchase is made fun of by Vitalik Buterin
  • There are, in his opinion, more honorable ways to spend $50 million
  • Rich individuals are urged by Vitalik to cease purchasing "junk"

On the Su Zhu and his $50 million boat purchase reports, Vitalik Buterin casts some doubt. The co-founder of Ethereum recently discussed the morality of the wealthy spending money on excess in one of his tweets.

“I wish to transform the world into the Yudkowskian ‘Dath Ilan’ paradise, where the greed of the wealthy is channeled towards promoting public goods rather than useless zero-sum waste.” In this case, he's alluding to the mythical Dath Ilan, a parallel planet imagined by author Eliezer Yudkowsky. According to him, in this paradise, wealthy individuals would use their wealth to fund public goods rather than useless zero-sum products.

The discussion was sparked by claims that Su Zhu had bought a $50 million boat to entice investors despite his current financial difficulties.

Buterin claims that there are "far more noble methods than buying a superyacht" to spend $50 million "to impress people." He suggested that joining the Gitcoin awards, a fundraising initiative for web3 businesses, might be a better option.

Buterin was also in favor of honoring Gitcoin contributors with "big, stunning statues in the metaverse." Regarding Su Zhu's purported $50 million boat purchase, the crypto Twitter community has offered a variety of perspectives.

There are several reports about the yacht on Twitter. Su Zhu exploited the boat purchase to impress investors, however according to @FatManTerra, the yacht was really purchased using borrowed funds, and Su Zhu was unable to continue making payments for it.

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