Sunday, September 16, 2018

Focus on the usefulness of cryptocurrencies

Vitalik Buterin: market Growth is possible, but it is necessary to focus on the usefulness of cryptocurrencies



Vitalik Buterin in an interview with Bloomberg noted that cryptocurrencies and the blockchain sector are no longer waiting for "1000-fold growth". After the appearance of these words in the network, Buterin was accused of forcing an atmosphere of hopelessness.

Therefore, the founder of Ethereum urged crypto-enthusiasts to pay more attention to the spread of digital currency technology, rather than speculation, noting that, in this case, there is still potential for market growth.

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.

- Vitalik Non-giver Of Ether (@VitalikButerin) 12 September 2018

"I want to clarify something. I have not stated that there is "no more room for growth"in the cryptocurrency ecosystem. I was talking about the lack of space for a 1000-fold growth rate. An increase of 1,000 times means that the market capitalization will be 200 trillion dollars — and this, incidentally, 70% of the world's wealth," Buterin wrote in his Twitter account.

Vitalik Buterin noted that the majority of educated people already have an idea about blockchain and cryptocurrencies, and therefore the growth of the industry at this stage can only consist in the growth of the application of cryptocurrency technologies in real life. According to Buterin, it is the growth of utility that will attract even more attention to the crypto industry.

He also believes that the media misinterpret his words and put a pessimist, because he himself looks at things objectively and realistically.

"The growth of acceptance and real use of cryptocurrencies in 1000 times is possible. That's what we need to focus on, instead of the price of coins", — concluded Buterin.

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