Growth of Bitcoin and other crypto currencies has been a controversial topic. Rumors have impacted the crypto market all the time. Some optimists and self-claim visionaries believe that this digital asset has the potential to the world’s next currency and it is only matter of years now. While the pessimists on the other side completely hate this phenomena and consider it fraudulent idea. But the real shock was recent Vitalik Buterin’s statement. He is one of the co-founders of Ethereum and has a very strong reputation in crypto industry.
Recently he spoke with Bloomberg regarding the future of the world-changing technology. What he said, was a reason of worry for some, but if you related it with logic and some facts, it might make some sense as well. At an Ethereum & Blockchain conference in Hong Kong, Vitalik said:
The block chain 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 block chain at least once. There isn’t an opportunity for yet another 1,000-times growth in anything in the space anymore. That strategy (marketing & worldwide adoption) is getting close to hitting a dead end. If you talk to the average educated person at this point, they probably have heard of block chain at least once. There isn’t an opportunity for yet another 1,000-times growth in anything in the space anymore.
Where crypto market is going?
The market has already seen 1000 x times growth within few span of years including Bitcoin. Many individuals from developed countries are aware of the potential of the blockchain technology and this has created too much hype around the crypto coins. What makes more sense is the long term plan that encourages the real-time use of the technology, compared to a short term bubble that attracted black market, illegal sellers, buyers and money launderers. Buterin is more like interested to “get people involved” in some “meaningful way”, that could be through the use of Decentralized apps, smart contracts or something as simple as downloading a wallet and purchasing digital coins.