Ethereum Creator Believes Days of 1000x Crypto Growth is Gone

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Ethereum Creator Believes Days of 1000x Crypto Growth is Gone

Post by howlermunkey » Sun Sep 09, 2018 12:13 pm

According to Vitalik Buterin, the co-creator of Ethereum, the days of 1000x growth as seen in 2017 in the cryptocurrency sector is gone.

Speaking to Bloomberg, Buterin emphasized that the awareness of cryptocurrencies and blockchain technology has already achieved its high point in Dec. 2017, when the price of major cryptocurrencies like Bitcoin, Ethereum, Ripple, and Bitcoin Cash demonstrated 10 to 300-fold returns.

“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,” he said.

Moving From Promotion to Real Adoption
The speculative bubble of last year has led the vast majority to take interest in cryptocurrencies as an emerging asset class. In the upcoming years, Buterin stated that the industry will focus on improving the usability and accessibility of decentralized systems rather than promotion and gathering interest.

Buterin explained that the strategy of promoting blockchain technology and cryptocurrencies to the broader consumer base is hitting a dead end and that it is time to improve the infrastructure of decentralized systems, applications (dApps), and protocols to encourage consumers to commit to blockchain-based platforms.

“Go from just people being interested to real applications of real economic activity,” he stated, adding “that strategy [promoting the blockchain to the broader consumer base]is getting close to hitting a dead end.” ... h-is-gone/

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