Ethereum's co-founder, Vitalik Buterin, was labeled by mainstream media as a pessimist after talking to Bloomberg and stating that the blockchain ceiling had been reached. He also added that there was more room for the 1,000-fold increase in the value of cryptocurrencies as everyone hoped. His exact words were:
The blockchain space is coming to the point where there is 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 is still an opportunity for another 1,000-fold growth in anything in space.
His words have even received a rebuke from Binance's CEO, Changpeng Zhao who replied as follows :
I still do not agree with this. I will say "Crypto will grow absolutely 1000x and even more!" The only achievement of the USD market capitalization will make it close to 1000x, (this is only a currency with a strictly limited use case), and the derivatives market is much larger.
Vitalik Clarifies his comments
Vitalik Buterin then clarified his comments to Bloomberg via a tweet stating that he did not directly say that there is no room for growth. What it meant is that 1,000 times the value of the crypt increases at this time, it would mean that the cryptocurrencies would reach a market capitalization of $ 200 trillion. For him this was highly unlikely given that this value is 70% of today's global wealth.
It would also add that the media took his words out of context and would have led people to act more like Justin Sun. His exact words were as follows :
What I have * indeed * asserted is that, since vast portions of the population have already heard of crypts, a further growth of the crypt must in any case come from * depth * (ie actual use), and do not draw more attention
a blow to Justin Sun
The tweet who denies being a pessimist and Vitalik who throws a shot to Justin Sun can be found below:
I: obviously, we are realistic, the. whole world wealth will not turn into cryptocurrency …
Media: VITALIK IS A PESSISTIC !!!!! 1 !! 1!
Guys, if you turn things around like this * incentive * people to act more like @justinsuntron
– Vitalik Non-donor of Ether (@VitalikButerin) 12 September 2018
Binance's CEO, Changpeng Zhao, would have responded to the aforementioned tweet stating that Vitalik was a victim of the media. Also states that is sorry for Justin Sun for the tweet.
You are obviously a victim of the media. Slice a sentence you say and distort it to the maximum. It happens all the time. But poor Justin, lol. Too funny.
Do you think Vitalik was misquoted by the media? What is your opinion on the growth of the crypt right now? Please leave a comment below.