Ethereum’s co-founder thinks that the cryptocurrency community is missing the whole point of digital currencies. Vitalik Buterin, aged 23, went on a twitter rant last week calling cryptocurrency investors immature. He even threatened to leave if the situation did not improve.
Digital currencies have seen a major rise this year. A concept that was previously known only to the elite or professional class became known to the common man too. Investments came pouring in from all over the world this year. Almost all cryptocurrencies have soared to new, all-time highs as a result, with many investors becoming millionaires overnight.
Buterin, however, does not seem impressed with the progress. He warned investors that almost the entire crypto-community is headed in the wrong direction. He explained that it was important for people to understand the true essence of the technology and how it could help better society. Buterin was not pleased with people flaunting their newly acquired wealth.
Buterin expressed that instead of putting their wealth to a productive use, investors are just flaunting it aimlessly. He complained that people in cryptocurrency space are only interested in showing off their wealth and luxuries. “If all that we accomplish is lambo memes and immature puns about ‘sharting,’ then I WILL leave,” Buterin tweeted.
He also replied to a tweet asking him if he thought “gold, diamonds, paper money and politics” were any different. Buterin said that these “all suck,” and this was why digital currencies were created in the first place. “I want to build something *better*, not more of the same,” he wrote.
Buterin won't be leaving
What exactly the Russian computer scientist meant by ‘leaving’ was unclear at the time of the tweet. His words resulted in confusion among the Ethereum community, raising concerns about him actually leaving the company.
Buterin cleared up the confusion in another tweet the next day when he asserted that he will not be stopping, or even slowing down, his work on cryptocurrencies. He will continue to serve as long as there is even a small group of people using their crypto-wealth positively.
He ended the rant on a hopeful note. “I still have a lot of hope that the community can steer in the right direction,” Buterin tweeted. Ethereum maintained its position as the second largestcryptocurrency for most of this year. Buterin’s twitter rant has not affected the coin’s price so far.