Ethereum Co-Founder Buterin Clarifies Anti-Crypto Growth Comments

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Buterin Offers Clarification

Insinuating that his comments made in a Bloomberg interview in regards to future digital currency growth were taken out of context or misquoted, Ethereum Co-Founder Vitalik Buterin took to Twitter to clarify exactly what he meant.

In a recent interview with Bloomberg, as Live Coin Watch reported just days ago, Vitalik Buterin made it quite clear that he feels that the days of exponential growth for crypto is now long gone.

He stated, “The blockchain space is getting to the point where there’s a ceiling in sight,” before continuing to sayThere is no longer the opportunity for yet another 1,000-times growth in anything in the space anymore,”.

He went on to suggest that due to public awareness now being at a level where almost everybody has heard of blockchain technology, new strategies would be required to push further growth.

Not Everyone was in Agreement with Buterin

Many were quick to disagree with Buterin, including that of Coinbase CEO Brian Armstrong, who has been a longtime proponent of crypto and has led the charge to create an “open financial system.”

Fellow Ethereum co-founder Joseph Lubin was also not in agreement. When asked about the comments Buterin made during an interview with CNN, he explained that blockchain technology is only just at the beginning of having a major impact on social, economic, and political systems over the coming years. He did mention that he still thinks that “Vitalik is brilliant” in spite of their different takes on the subject.

Buterin Aims to Clarify Comments

As it turns out, Buterin is not too happy about how the media has interpreted his claims, and while he is sticking to his opinions, he took his thoughts to social media to bring clarification on what he actually meant.

It was just a matter of hours ago that Buterin fired out a number of tweets which were obviously directed at certain sections of the media.

While it looks to be clear that his original comments were not taken as they should be, the message is still fundamentally the same. This prediction is that the previous levels of exponential growth in the industry will never be seen again.

Some Would Have Preferred Buterin Kept His Opinions To Himself

The general consensus is that his remarks, especially due to his standing in the industry, have the potential to cause reactionary movements in the market. This is an understandable viewpoint. Nonetheless, do we really want the top guys spearheading the industry making out that everything is rosy when it isn’t?

This is not the first time in 2018 that Buterin has caused controversy among investors due to his comments. Back in February, he was accused by many of causing panic when he tweeted:

While he is clearly offering sound advice, most investors claim that they are already aware of this and did not need to hear him say this at a time when prices were plummeting already.

My name is James. I am 39 years old and a proud father. My hobbies include football (soccer), tennis, swimming and cycling, and I also love travelling. Another hobby of mine is staying up to date with the financial markets - I used to work within the financial sector as an IT engineer setting up Reuters and Bloomberg market data feeds. During that time I learned a lot about the financial industry and came across the blockchain in its early conception. It wasn't until around 2015 I really started to take a keen interest in its development. Since then I have been studying the progress of the blockchain and investing in cryptocurrencies. I now contribute news, data, and reviews about ICOs, blockchain solutions, and cryptocurrencies regularly. I truly believe that disruptive blockchain tech will be an integral part of all of our futures. As such I plan to continue following trends, breaking news, and the future development of blockchain solutions across all industries.

2 COMMENTS

  1. If he’s so “brilliant”, how is that he hasn’t learned to keep his trap shut? Or at least take into consideration who might be listening and how they will report his comments? Just sounds like another dweeb jerk to me that had one good idea that made him a lot of money (in spite of himself), and now the world thinks he’s some kind of oracle. He and the world both get what they deserve.

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