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Author Topic: Vitalik Buterin sold himself  (Read 157 times)
Lionel
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February 20, 2018, 05:49:57 PM
 #1

 "If you're trying to figure out where to store your life savings, traditional assets are still your safest bet."
Source: https://www.cnbc.com/2018/02/19/ethereum-creator-vitalik-buterin-warns-about-cryptocurrency-investment.html

Ok, how come the creator of one of the main cryptocurrencies had the idea to suggest us to invest in traditional assets?
Which also means he is telling us to keep all our money in a government-controlled bank, while the main purpose of crypto is to save us from the gov robbery and banks.

Somebody tell me how much did they pay him to say that insane sentence.

If he's not out of his mind, they threaten him to death ?
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February 20, 2018, 06:05:00 PM
 #2

How is that selling himself?

He's completely right when stating that cryptos are not the safest asset. He didn't say that you should invest in traditional assets either. He just made the objective observation that cryptos are extremely volatile shorts and risky longs. It would be utterly retarded to bet your whole life savings on crypto unless you could easily recoup the losses.
People who bought at the 20k ATH of Bitcoin by taking up a mortgage on their house found themselves on the streets when the price retraced down to 6k.

He's basically just noting (correctly) that people should be very careful with crypto investments.
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February 20, 2018, 06:13:27 PM
Merited by BTCMILLIONAIRE (1)
 #3

I second Vitalik, there exist quite a few people who choose not to view Cryptos as a Make-Me-Rich scheme, but a technological innovation.

You need to look it in that manner rather than reducing the crypto-revolution to look like a Ponzi, where every Tom, Dick and Harry jumps in.

Given the market manipulations and high volatility it is subjected to more often than not, it is prudent to suggest that it's a very risky investment.

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February 20, 2018, 06:18:02 PM
 #4

I second Vitalik, there exist quite a few people who choose not to view Cryptos as a Make-Me-Rich scheme, but a technological innovation.

You need to look it in that manner rather than reducing the crypto-revolution to look like a Ponzi, where every Tom, Dick and Harry jumps in.

Given the market manipulations and high volatility it is subjected to more often than not, it is prudent to suggest that it's a very risky investment.
Well said, have my last merit.
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February 20, 2018, 06:43:14 PM
 #5


Ok but actually he is also suggesting us to invest in traditional assets, which are high-risk and very likely you end up losing everything,  giving the powerful ones a gift.

He should have suggested only not to put your whole life savings in crypto, but not to invest them on the stock market or binary options and other traps the Rotschilds made.

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February 20, 2018, 06:44:50 PM
 #6

It seems like your English isn't good enough to make a judgment about what he's said, because your assessment of his suggestions is completely false and out of context.
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February 20, 2018, 06:55:14 PM
Merited by Hydrogen (1)
 #7

It seems like your English isn't good enough to make a judgment about what he's said, because your assessment of his suggestions is completely false and out of context.

I hope you are right.

Anyway my intent is not to discredit the cryptocurrencies or people who create them.
I'm very pro-crypto.

I just worry because the gov used to publish fake news against crypto, spread terror messages about risk, volatility, blah blah just because crypto can hinder their business.

And now i see a crypto VIP suggesting to invest in traditional assets... it makes me worry and think the gov is threatening them (they did that to Assange , Snowden, etc., so it's not fantasy )
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February 20, 2018, 07:18:41 PM
 #8

It seems like your English isn't good enough to make a judgment about what he's said, because your assessment of his suggestions is completely false and out of context.

I hope you are right.

Anyway my intent is not to discredit the cryptocurrencies or people who create them.
I'm very pro-crypto.

I just worry because the gov used to publish fake news against crypto, spread terror messages about risk, volatility, blah blah just because crypto can hinder their business.

And now i see a crypto VIP suggesting to invest in traditional assets... it makes me worry and think the gov is threatening them (they did that to Assange , Snowden, etc., so it's not fantasy )

First of all it is always a good thing to diversify your assets so him suggesting we go traditional route is not bad in any sense. Secondly, you sound like you are on a conspiracy trip which it could be true that Rothschild own a lot of the power and money but that doesn't make it so you can't make money in those markets. Also the reason there is going to be more regulation in this space is because of the scammers, pump and dumps, and all other nasty wild wild west practices. If these weren't ongoing regulation wouldn't be looming and I think Buterin is suggesting we play around in markets that are more regulated and protected. The average person who knows nothing about crypto will get eaten alive and for that reason I think this is why he suggests traditional methods of investing.

Jumbled thoughts I know, apologies.

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February 20, 2018, 08:10:15 PM
 #9

How is that selling himself?

He's completely right when stating that cryptos are not the safest asset. He didn't say that you should invest in traditional assets either. He just made the objective observation that cryptos are extremely volatile shorts and risky longs. It would be utterly retarded to bet your whole life savings on crypto unless you could easily recoup the losses.
People who bought at the 20k ATH of Bitcoin by taking up a mortgage on their house found themselves on the streets when the price retraced down to 6k.

He's basically just noting (correctly) that people should be very careful with crypto investments.

100% agree with you mate. He is just trying to be objective and honest here. He understands what diversification really means. Do not put all your investment in crypto, but at least have plan B, like mutual bonds stocks or other government backed assets.

Those who put all their investments on crypto last December already got burned. They sold their bitcoins already and are not out of ammunition and yes, maybe they are not beggars on the street. Just sad that they didn't know how to diversify and put everything in one basket.

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February 20, 2018, 08:15:42 PM
Merited by Lionel (1)
 #10

First of all it is always a good thing to diversify your assets so him suggesting we go traditional route is not bad in any sense.

If either the european union or united states default on deficit/debt. Going the traditional investment route could be bad if the euro/dollar implode. Either bitcoin or alts could be a safer investment than stocks. The DOW average declining could be considered evidence of this: savvy investors may be selling their long term HODL holdings in anticipation of a crash.

It helps to remember very few saw the subprime mortgage crisis coming. No one could remember the value of US real estate declining. Many believed real estate to be a bullet proof investment immune to price corrections or devaluation. As a result, subprime mortgage derivatives were heavily leveraged even as potentially toxic assets which exacerbated the economic & financial damage inflicted when a crash finally came.

It is possible anything denominated in dollars or euros could be described as sinking ships. While banks and others fund anti crypto FUD campaigns labeling bitcoin a "sinking ship which could fall to zero at any time" that description could more accurately describe fiat currencies given the large deficits and politicians insistence on continuing their flawed policy of spending and taxing their way out of debt.

Also in regard to Vitalik Buterin some might find the following interesting.

This is what goldman sachs says:

Quote
Most cryptocurrencies are likely to fail with their value falling to zero, Goldman Sachs said in a note, comparing the current market to the "internet bubble of the late 1990s."

https://www.cnbc.com/2018/02/07/most-cryptocurrencies-will-crash-to-zero-goldman-sachs-says.html

This is what Vitalik Buterin says:

Quote
"Reminder: cryptocurrencies are still a new and hyper-volatile asset class, and could drop to near-zero at any time," Vitalik Buterin said on Twitter. "Don't put in more money than you can afford to lose."

https://www.cnbc.com/2018/02/19/ethereum-creator-vitalik-buterin-warns-about-cryptocurrency-investment.html

Is it interesting how they both repeat near to an identical message?

Where's the diversity of opinion and views they love to preach about?   Grin

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February 20, 2018, 08:23:05 PM
 #11

Vitalik is only trying to give safe advice because traditional investments are low-risk.

It would be dangerous for him to reccomend everyone to invest in Ethereum and crypto which are very high risk.



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BTCMILLIONAIRE
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February 20, 2018, 08:30:36 PM
 #12

It seems like your English isn't good enough to make a judgment about what he's said, because your assessment of his suggestions is completely false and out of context.

I hope you are right.

Anyway my intent is not to discredit the cryptocurrencies or people who create them.
I'm very pro-crypto.

I just worry because the gov used to publish fake news against crypto, spread terror messages about risk, volatility, blah blah just because crypto can hinder their business.

And now i see a crypto VIP suggesting to invest in traditional assets... it makes me worry and think the gov is threatening them (they did that to Assange , Snowden, etc., so it's not fantasy )
There has been, and there will be more, fake news from governments and central banks. So that's a plausible thing to worry about. Just a few days ago the Polish Central Bank has been caught paying off a Youtuber to spread FUD against crypto.

But Vitalik is not in that boat, at least not right now.

I'm personally not very worried about any of the FUD though. It seems like the establishment is already aware of the fact that they can not possibly stop Bitcoin & co. So the worst thing that I could see happening would be FUD campaigns to push down the price so that the establishment can buy large amounts of crypto for very cheap before allowing it to skyrocket. That's their usual game. Keep in mind that the MSM are their puppets.

Also, I personally invest in traditional assets as well. You should always diversify in a way that would ensure that if the worst scenario took place you would still be ok with the outcome. Imagine you had everything in crypto, and crypto goes up to a multi-trillion dollar market cap, but you somehow lost access to your coins. What now? If you sold some of your profits for fiat, gold, stocks, or whatever else you would still have something.
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February 22, 2018, 02:55:42 AM
 #13

Vitalik is only trying to give safe advice because traditional investments are ...low-risk??.

It would be dangerous for him to reccomend everyone to invest in Ethereum and crypto which are very high risk.

As @Hydrogen mentioned, this is a very critical period for stock markets: https://www.express.co.uk/finance/city/914478/financial-crash-us-stock-market-trading-dow-jones-Nasdaq-global-money
Also real estate is a traditional investment, and it crashed.
What about the "tulips mania" in Holland? That was a traditional investment.

So please don't tell me traditional=low-risk


@BTCMILLIONAIRE
@buytheeffinD

You seem to believe that corruption doesn't exist in this world.

Want some examples?
The ukrainian president Poroshenko, everybody knows he's a paid american puppet
The Rockfellers tried to corrupt Chavez, he refused. And then he mysteriously died. What a coincidence.
Banks are investing in fake online news/videos to trick the people ( e.g. they try to aggressively discredit Bitcoin )

So you see, even presidents get corrupted.
And you are telling me that a regular guy like Vitalik cannot get corrupted if they offer him a few millions ?
I started to think so, from the moment he pronounced those sentences which were similar to what other FUDers tell you all the time
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February 22, 2018, 03:05:06 AM
 #14

yes crypto is not safe,, yes you can make easy money when "somebody" pump up years.. but it can not work for decades

i also invest from mining to gold,.and land later ..   people who dont invest in bitcoin when price was 30-500 usd miss hypotheticall "money train" ..but who now years before .. it will be one year before xmas 20 000 usd price ..  its like knowing lotery numbers before..  Cool

But now is situation different.. btc is expensive for invest and too voilatile, can crack exchange or who now..other problems..   gold bars will stay as forewer for your grandchildren if they will want spend
 But in this world will land good invest .. but no property,that can aeging and lose price..  also im not sure in europe where will big aeging population problem, no pensions, and war on part ukraine,,becouse usa want bumper for silk road and one way .. its will not help ,. chinese now have good times with EU..and wil have
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February 22, 2018, 03:07:46 AM
 #15

It's not his job to provide financial advice, since, as so many have said, traditional assets are not necessarily safe. Nothing is 100% safe, especially nowadays.


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Rsiyz
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February 22, 2018, 03:15:16 AM
 #16

vitalik is not typicall "west " crypto milionare or lambo lover. skin, dont eat much ..
Lionel
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February 22, 2018, 03:19:24 AM
 #17

vitalik is not typicall "west " crypto milionare or lambo lover. skin, dont eat much ..

Yeah he's a skilled & nerd programmer, but don't take financial advice from him Smiley
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February 22, 2018, 03:57:07 AM
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I do not think Vitalik can sell his prestige for financial purposes. Vitalik is very famous in the cryptocurrency market and he is very little mouthpiece. I think when he says something, he has his own reasons. If it was only for financial reasons that Vitalik had to sell himself, I think it was impossible because he was so rich with Ethereum.

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February 26, 2018, 06:42:55 PM
 #19

I think that Buterin meant just this stage of development of cryptocurrency and he didn't mean that crypto is bad asset but now is not the right time to invest all in this. Maybe later when legislation becomes more precise and people know more about technology and governments accept it then there will be right and maybe safe time to invest in them.
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February 26, 2018, 06:44:13 PM
 #20

"If you're trying to figure out where to store your life savings, traditional assets are still your safest bet."
Source: https://www.cnbc.com/2018/02/19/ethereum-creator-vitalik-buterin-warns-about-cryptocurrency-investment.html

Ok, how come the creator of one of the main cryptocurrencies had the idea to suggest us to invest in traditional assets?
Which also means he is telling us to keep all our money in a government-controlled bank, while the main purpose of crypto is to save us from the gov robbery and banks.

Somebody tell me how much did they pay him to say that insane sentence.

If he's not out of his mind, they threaten him to death ?

I am amazed at the title of this post, do you think that Vitalik has any need to sell anything? He is probably worth not an island, but a small archipelago by now LOL

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