Vitalik Buterin Launches New Round Of Debates Among Crypto Experts
Vitalik Buterin, one of the co-founders of Ethereum, wrote in his Twitter account that the crypto community and the media at large misinterpreted his recent statement about the futility of the digital currencies market, which may soon finalize its period of meteoric growth and reach the ceiling.
The words of the programmer caused a big stir among the crypto experts. ConsenSys CEO Joseph Lubin, Tron CEO Justin Sun, and Binance CEO Changpeng Zhao expressed their indignation.
Three days later, Buterin stated that journalists distorted his statement and presented him as a crypto pessimist, although he did not say there is no more room for further crypto market's development. He stressed that he made a good judgement and meant the impossibility of a 1000-times increase in the value of digital assets. Buterin explained that in this case, the market value will reach $200 trillion, which will account for 70% of the world's capital.
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) September 12, 2018
However, Buterin failed to convince the president of Binance, Changpeng Zhao, who believes that with the growth of the US dollar, a 1000-times leap in the value of digital assets will be possible.
In a recent interview for CNN, Joseph Lubin stated that in the next few decades the economic, political, and social systems will be profoundly influenced by the blockchain technology, which is now going through a period of formation and will transform significantly in future. TRON CEO Justin Sun stated pointedly that "time will show" how impactful the cryptocurrencies will affect the global financial system.
As previously reported, Vitalik Buterin suggested that the crypto community should reconsider existing mechanisms for collecting commissions for crypto transactions on blockchain.