If you follow crypto news and crypto twitter (CT) closely, there’s a huge backlash against co-founder of Ethereum, Vitalik Buterin for his alternative comments on crypto boom in current scenario. Let’s see if this outrage makes sense or his comments make more sense In an interview with Bloomberg, Vitalik Buterin went on to make some sensible comments about the current state (awareness of cryptocurrency) and the possibility of Lambos or Moons as follows 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. With this comment, interviewers went crazy and the media around the world picked up this statement to kill the morale of every crypto believer or a newbie, which are now called crypto curious and made them lose confidence by saying “Vitalik himself has said that there’s no room for cryptocurrencies to grow” — which sounds quite pessimistic. However, Vitalik has clarified on his twitter by tweeting as below, 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. 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 and to add it to the clarification, he made fun troll of Justin Sun of Tron Me: obviously, let’s be realistic, the entire world wealth is not going to turn into cryptocurrencies… Media: VITALIK IS A PESSIMIST!!! 1! 1 Guys, if you spin things this way you’re *incentivizing* people to act more like @justinsuntron Above stuff sounds funny given how media twists certain logical statements into pessimistic ones to spread FUD (Fear, Uncertainty, Despair)in the crypto crowd. It’s important for everyone to follow the actual people’s twitter to find the clarifications and statements as they usually never make it to the headlines — unless media has a chance to twist them too! An attempt to be part of crypto myth busters series! Follow me on Twitter and Medium for more such informational articles along with what we are working on to help the crypto community. Check out the tax calculation software, — we’ve launched for the benefit of crypto-community. This will reduce a lot of your effort in consolidating and reviewing trades on various exchanges and can easily calculate taxable gains in few minutes. Signup now on BearTax www.bear.tax _Simple & trusted platform for crypto traders, accounting professionals, CPAs to connect exchanges, import transactions…_bear.tax BearTax - Your Crypto Tax Assistant

TRON

Twitter

Simplifying Cryptocurrency Taxes in Japan

Why is Bitcoin trading at a 253% premium price in Iran?

Don’t take Vitalik’s 1000x comment in a negative way — it’s just sensible

About Author

Comments

TOPICS

THIS ARTICLE WAS FEATURED IN

Related Stories

3 Tips to Avoid Loss on Bitcoin, Ethereum, Litecoin

06/09/2018: Biggest Stories in the Cryptosphere

06/02/2018: Biggest Stories in the Cryptosphere

05/02/2018: Biggest Stories in the Cryptosphere

0 to Pro Crypto Trader: Your Ultimate Guide to Bitcoin and Altcoin Investing

07/02/2018: Biggest Stories in the Cryptosphere

3 Tips to Avoid Loss on Bitcoin, Ethereum, Litecoin

06/09/2018: Biggest Stories in the Cryptosphere

06/02/2018: Biggest Stories in the Cryptosphere

05/02/2018: Biggest Stories in the Cryptosphere

0 to Pro Crypto Trader: Your Ultimate Guide to Bitcoin and Altcoin Investing

07/02/2018: Biggest Stories in the Cryptosphere

Light-Mode

Classic

Newspaper

Minty

Dark-Mode

Neon Noir

Minty

HN StartUps