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War of Words: Vitalik Buterin Quiets the Critics

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Vitalik Buterin

Not long ago, Ethereum co-founder, Vitalik Buterin says there is no chance we’ll see “1,000-times growth” in the cryptocurrency space again.

He believes that explosive growth in this sector will likely come to an end.

And that people have moved to a stage where a superficial know-how of the space is rapidly growing.  “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,” he said.

He was criticized for saying that, though

 The CEO of Binance for example noted:

“I still disagree with this. I will say ‘crypto will absolutely grow 1000x and more!’ Just reaching USD market cap will give it close to 1000x, (that’s just one currency with severely restricted use case), and the derivatives market is so much bigger,” he noted on Twitter.

Even the founder of Tron (TRX) responded, “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.”

Vitalik Buterin then Responded to the Responses

In a Twitter post, he noted:

“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 increases*. A 1000x price increase from today means $200T in crypto, or ~an entire 70% of today’s global wealth being in crypto.”

He continued, ““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* (i.e. actual usage), and not bringing in more attention. Obviously, let’s be realistic, the entire world wealth is not going to turn into cryptocurrencies.”

The soap opera continues.

 

 

 

 

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