Vitalik Buterin takes a dig at TRON’s Justin Sun and his hype-king attitude


Vitalik Buterin, the co-founder of Ethereum, has taken to Twitter to express what he actually meant to say in recent comments.

In an interview at the Ethereum Industry Summit conference in Hong Kong, Buterin said to Bloomberg that current strategies for cryptocurrencies are nearing a “dead end“, saying:

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”.

Although Buterin might sound as though he has no confidence in the industry, he claims this is not the case.

In a recent tweet, Buterin expanded on his comments, clarifying that he did not mean that there was no room for the industry to develop, but rather that price increase predictions should be realistic:

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.”

He followed this comment with a slight nod to TRON founder, Justin Sun, who is known for his hyped-up optimistic marketing approach:

The vocal Sun unsurprisingly replied with a great deal of flexed confidence.

Binance CEO Changpeng “CZ” Zhao chimed in to respond. CZ also took to Twitter, saying that he disagrees with Buterin’s predictions. He offered a more confident insight into the cryptocurrency space, regarding both the industry and individual tokens can grow in thousand-fold increases:

Related Articles

The United States releases new crypto bill

The United States House Financial Services Committee has released the third draft of a stablecoin bill for crypto regulation.

The EU looks to blockchain for verification processes

The European Commission aims to use blockchain technology to streamline the cross-border verification process for credentials.

US SEC slaps Binance with a 13 charge lawsuit

The United States Securities and Exchange Commission files a lawsuit against leading crypto exchange Binance.

Bitcoin ATMs increase after months of downtrending

After four months of declining figures, the number of Bitcoin ATMs across the world increased significantly in May.

See All