Ethereum creator Vitalik Buterin is clarifying his recent statement that blockchain won’t see 1,000-times growth again.
Buterin told Bloomberg that “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.”
Joseph Lubin, co-founder of Ethereum and founder of ConsenSys, responded to Buterin’s comments. “Vitalik is brilliant, but I would have to disagree with him on that. This is a technology that’s going to impact how economic, social and political systems are built over the next few decades. So we’re really just at the start of this. There will be so much evolution,” Lubin said in an interview with CNN.
Now, in a new series of tweets, Buterin is offering insight into his views on the future growth of crypto.
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.
— vitalik.eth (@VitalikButerin) September 12, 2018
What I *actually* said is that, because large portions of the population have already heard of crypto, further growth of crypto in any sense must come from *depth* (ie. actual usage), and not bringing in more attention
— vitalik.eth (@VitalikButerin) September 12, 2018
Me: obviously, let's be realistic, the entire world wealth is not going to turn into cryptocurrencies…
Media: VITALIK IS A PESSIMIST!!!!!1!!1!
Guys, if you spin things this way you're *incentivizing* people to act more like @justinsuntron
— vitalik.eth (@VitalikButerin) September 12, 2018
Tron founder and CEO Justin Sun was quick to respond, saying “time will tell” just how big an impact cryptocurrency will have on the world economy.
I do believe the entire world wealth will turn into cryptocurrencies like blackhole and grow much bigger in the future. Cryptocurrency will hit 10 trillion USD market cap before @Apple and @amazon do. We will see. Time will tell. #TRON #TRX $TRX
— Justin Sun (@justinsuntron) September 12, 2018
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It’s only a matter of time when fiat system will fall and nobody will look at the price in USD/EURO.
Justin Sun is probably right about the ten trillion future value of all crypto. Justin is a dreamer. But so was his mentor, and Alibaba founder, Jack Ma. I own TRX and appreciate Justin Sun. GD.