Crypto Winter Can be a Good Thing According to Vitalik Buterin
Speaking with Bloomberg recently, 28-year-old Ethereum co-founder, Vitalik Buterin, said that a retreat in cryptocurrency prices could have a positive effect in the long run. The dreaded ‘crypto winter’, he notes, would shield the space from speculation:
“When there are these long periods of prices moving up by huge amounts like it does – it does obviously make a lot of people happy – but it does also tend to invite a lot of very short-term speculative attention.”
Buterin also said that lean times can serve as a stress test for projects with only the most sustainable ones surviving.
“The winters are the time when a lot of those applications fall away and you can see which projects are actually long-term sustainable, like both in their models and in their teams and their people.”
In the meantime, the leading smart contract platform is working hard on upgrading its network to remain its leading position. He concluded:
“When everyone is again trying to use blockchains, we don’t want them to discover yet again that no, actually, there isn’t enough space on the chain for everyone.”
At time of writing, Ethereum is moving hands at $2,624.34, making some gains in the last 24 hours while still down 16% in the last week, according to CoinMarketCap data.
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Source: igaming
