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Breaking News / Cryptocoins / Ethereum

Ethereum Co Founder Explains Crypto Comments

The inventor and co-founder of Ethereum, Vitalik Buterin has explained his recent statement in that blockchain won’t see 1,000-times growth again.

In an interview with Bloomberg, Buterin said that:

“If you talk to the average educated person at this point, they probably have heard of blockchain at least once. There isn’t an opportunity for yet another 1,000 times growth in anything in the space anymore.”

Buterins partner and other co-founder of Ethereum and ConsenSys, Joseph Lubin, responded to these comments when speaking to CNN saying:

“Vitalik is brilliant, but I would have to disagree with him on that. This is a technology that’s going to impact how economic, social and political systems are built over the next few decades. So we’re really just at the start of this. There will be so much evolution.”

Now, after a rant on Twitter, Buterin gave his views on the future growth of crypto.

In his initial tweet, Buterin says:

“To be clear, I never said that there is “no room for growth” in the crypto ecosystem. I said there is no room for *1000x price increase from today means $200T in crypto, or ~ an entire 70% of today’s global wealth being in crypto.”

Buterin then went on to say:

“What I *actually* said is that, because large portions of the population have already heard of crypto, further growth of crypto in any sense must come from *depth* (ie. actual usage), and not bringing in more attention”

In his last tweet, Buterin said:

“Me: obviously, let’s be realistic, the entire world wealth is not going to turn into cryptocurrencies…


Guys, if you spin things this way you’re *incentivizing* people to act more like @justinsuntron”

After his rant, and mentioning Justin Sun, the founder of TRON in his final tweet, Sun then got involved saying that time will tell on how much impact cryptocurrency will, and could have, on the global economy.

“I do believe the entire world wealth will turn into cryptocurrencies like blackhole and grow much bigger in the future. Cryptocurrency will hit 10 trillion USD market cap before Apple and Amazon do. We will see. Time will tell.”

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Robert is a keen investor with a particular interest in cryptocurrencies. He has been involved in the industry for many years, and because of this, has gathered a lot of knowledge surrounding this area. He studied English at university level and has a passion for writing. He loves being able to combine his two mains interests on a daily basis.