Vitalik Buterin Responds to Community After Becoming a Victim of the Media

3 min read

Vitalik Buterin, the founder of the second largest cryptocurrency by market capitalization, received numerous negative comments on the leader’s pessimism after he told Bloomberg that the superior level of blockchain had been reached.

Ethereum CEO and founder, Vitalik Buterin, has been publicized on an international scale after he said that there is no way blockchain could go higher.

Here is what Buterin said:

“The blockchain space is getting to the point where there’s a ceiling in sight. 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.”

His words even got a reproof from Binance Chief Executive Officer Changpeng Zhao, who responded:

“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.”

Comments, criticisms, and arguments

Since the founder’s statement has been made public, he has received numerous comments, criticisms, and arguments. Vitalik Buterin wanted to clarify the wave of confusion created in the crypto community. He explained in a tweet that he did not claim there are not opportunities for blockchain to grow, but a 1,000x increase in crypto’s value at the moment would mean an overcapacity of the market cap of $ 200 trillion.

He also mentioned that the media specifically extracted phrases that could attract more visitors to the website:

“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.”

Binance CEO Changpeng Zhao is on the same side with Vitalik Buterin, saying he was just another victim of the media:

“You are obviously a victim of media. They slice one sentence you say and twist it to the max. Happens all the time. But poor Justin, lol. Just too funny.”

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