Vitalik Buterin is known and revered in crypto circles as the founder of Ethereum, the world’s second-biggest cryptocurrency. On Wednesday, he shot some fiery wisdom at crypto investors, arguing that they “should heed these words of warning.”
Otherwise, Buterin may abandon the Ethereum project altogether.
His advice began in a retweet of @AmirPolyteknik, who claimed that Bitcoin is “turning into a failed project.” While that user was talking specifically about Bitcoin, Buterin clearly believes his words apply to Ethereum, and indeed the larger ecosystem, as well.
So what?
Why does this matter? Well, Vitalik Buterin is a big deal. He isn’t a random programmer who got lucky by inventing some random initial coin offering. He is a pioneer and a thought leader in the blockchain space.
Consider this: Buterin wrote the Ethereum white paper before his 20th birthday.
In doing so, he created the first “decentralized application blockchain” in the world. Not only is that a prodigy-level achievement, it also paved the way for hundreds—if not thousands—of other coins.
So, when Buterin says ETH has been hijacked, I pay attention. When he says investors don’t care about long-term value, I pay attention.
Daily Ethereum Chart:
But that’s why Buterin is wrong about ETH…
By keeping Ethereum away from Bitcoin’s mistakes, Buterin is revealing the value his leadership brings to ETH.
Think about it: If rudderless currencies are destined to be hijacked by rapacious investors, then they will fall one by one. But if ETH development can be steered for a greater purpose by the guiding hand of its founder, then it will develop real value.
As a result, ETH would attract more capital over the long term, thus creating the opposite effect to what Buterin intended. Funny how that works.
Analyst Take:
We see no reason to alter our Ethereum price forecast, which shows the crypto reaching $1,500 in 2018.
Also Read: Ethereum Price Prediction for 2018
Source: Price Confidential