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๐ŸŽ“ Ethereum co-founder expresses concern about cryptocurrencies… so what did he say?

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Ethereum co-founder Vitalik Buterin warned about the potential of digital currencies and expressed his concerns and fears about the negative perception of the cryptocurrency world he was involved in creating.

Buterin understands the consequences of Ethereum, which has empowered so many wealthy people. Furthermore, Ethereum also expels pollutants, helped those who wanted to evade and mitigate taxes, and became a means of money laundering.

โ€œCryptocurrency itself has a lot of downside potential if done poorly,โ€ Buterin stated.

He went on to say that he sees the risks of enthusiastic investors, as well as the vast supply of wealth appearing to have a negative impact on the public perception of cryptocurrencies.

Buterin wants Ethereum to benefit the world more than it hurts, explaining that he wants the currency to become the foundation for social and political experiments that could include fairer voting systems, urban planning, universal basic income, and public works projects. .

He also confirmed that he understands that his view of the coin can be misunderstood by the greedy, therefore Buterin feels that he now has to use his voice to shape the public’s relationship with cryptocurrency, as he said, “If we don’t exercise our voice, the only things that get built are the things that immediately bear fruit.

Buterin also touched on his initial ideas with Ethereum, saying, “The biggest split was definitely that a lot of these people were interested in making money, for me, that wasn’t quite my goal.”

He continued: โ€œThere were times early on where I was negotiating the percentages of the Ether distribution that I and the other founders would get, to be more equitable. This upset them.”

As Buterin’s other founders wanted to use it to spread their own ideas, he said: “People used my fear of regulators against me by saying we should have a for-profit entity because it’s so much simpler legally than doing a non-profit.” profit”.

Buterin also points to the inequality in the crypto community and acknowledges that the ecosystem needs improvement as he expresses his disdain for the dominance of the crypto vote, which allows wealthy venture capitalists to make self-interested decisions with little opposition.


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