Vitalik Buterin, founder of the Blockchain platform Ethereum, has reported to the SEC decision regarding the Winklevoss ETFs. He sees in the mere narrowing of the Use Cases of crypto-currencies as Investment Assets, a development in the wrong direction. Rather, one should focus again on the global adaptation of crypto currencies work as a means of payment.
crypto-currencies, especially Bitcoin, had drawn in the past week, once again the attention of the main stream. Reason for this is the ongoing debate around the re-proposal from the Winklevoss brothers to create a Bitcoin ETF was next to the gratifying increase in the market capitalization. This had been rejected by the Securities and Exchanges Commission (SEC), the U.S. securities and exchange Commission, again, which are many critical voices from the crypto scene.
Also, Ethereum founder, Vitalik Buterin is one now – but he’s not pushing in the same Horn as the critics of the SEC’s decision. Instead, he stands, as so often, from the mass and promotes a more differentiated point of view.
Buterin: a focus on adaptation, not on speculation
In a Twitter Post, the Russo-Canadians criticized the one-sided focus on Bitcoin as an Investment Asset. The creation of a Bitcoin ETFs is only serving the Investing in Bitcoin for speculative purposes, but not for the exchange from Fiat into crypto, make transactions. The Bitcoin was not designed to be a first crypto-currency, originally, but as an Investment Case, but as an alternative means of payment.
“I think it’s going to put a lot of weight on BTC/ETH/whatever-ETFs and not enough emphasis to make it easier for people shopping from 5 to 100 US dollars cards to Eckläden. The former is better, to pump the price, but the Latter is much better for the actual adaptation“,
so Buterins Tweet in the text.
I think there’s too much emphasis on BTC/ETH/whatever ETFs, and not enough emphasis on making it easier for people to buy $5 to $100 in cryptocurrency via cards at corner stores. The former is better for pumping price, but the latter is much better for actual adoption.
— Vitalik Non-giver of Ether (@VitalikButerin) July 29, 2018
champion of the cryptographic technology
Instead of the next rate rise to focus Vitalik Buterin so dear to the continuous development and improvement of its platform Ethereum. In particular, the scaling problem of concern to developers are still head. Possible solutions such as Sharding or Plasma have been presented on a breakthrough waiting.