Ethereum’s Vitalik Raises Questions With His Contradictions

Vitalik Buterin, the founder of Ethereum, revealed some of his concerns regarding blockchain, cryptocurrencies, traditional finance, and more. The concerns came in a series of 11 tweets on Buterin’s official Twitter page.

The first tweet came as an announcement of what he was about to say. This was followed by another tweet that expressed his desire for Ethereum to become more like Bitcoin in stability. After this, he shared his concerns about how much work is required for this to happen.

Contradiction between my desire to see Ethereum become a more Bitcoin-like system emphasizing long-term stability and stability, including culturally, and my realization that getting there requires quite a lot of active coordinated short-term change.

— vitalik.eth (@VitalikButerin) May 17, 2022

Another interesting tweet said, “Contradiction between my dislike of many modern financial blockchain “applications” ($3M monkeys etc), and my grudging appreciation for the fact that that stuff is a big part of what keeps the crypto economy running and pays for all my favorite cool DAO/governance experiments.”

One more tweet expressed his desire for the crypto industry to grow beyond finance and his realization that finance is by far the most successful application of crypto. He also talked about crypto adoption in one of the tweets, where he said:

Contradiction between my desire to see more countries adopting radical policy experiments (eg. crypto countries!) and my realization that the governments most likely to go all the way on such things are more likely to be centralized and not friendly to diversity internally.

The last tweet seemed to be a little different and personal as he said, “Contradiction between my desire to be a positive-sum mediator figure that can be everyone’s friend and my desire to stand strongly with good against evil those times when true evil is what we face.”

As for the replies, some people answered by supporting crypto and cheering for the blockchain industry, while one interesting comment said, “I feel like you are maybe missing the point of NFT’s and WEB3 culture.”

One other reply said, “What “exactly” is your problem with a crypto-native generation also doing culture on their own terms and seeing what fits? Do you not buy or do you not see the narrative that in this opening act of NFTs, the entire ecosystem is in a price discovery phase?”