Vitalik Buterin: Crypto, Blockchain Space Won’t See ‘1,000-Times Growth’ Again

[pooya87]

haha, he is talking about ethereum not cryptocurrencies in general and he is trying to explain the fact that his shitcoin is getting dumped hard by claiming that it is normal and it is happening to everything. but the fact is ethereum is getting dumped and it won't ever go back up to its ATH or anywhere near it even if they start pumping it up again. it is failed project already.

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[franky1]

1. if ethereum jumps from PoW to PoS then ethereum wont see growth to 1000x.. because PoW has real underlying costs to make blocks but PoS doesnt. so ether wont have underlying acquisition costs holding it up as well and has more potential to go down when PoS block creators get rewards at no cost so will sell down the market..

1. May not be true due to speculation, a boost may come from the investor sector if they see this as essentially a dividend. It also could get those who are worried about the negative press and reaction to large power usage.

speculation is just waves. not sustainable and normally corrects back down to underlying value. though new ATH are great for media, drama, conversations.. the actual price event never lasts long enough for everyone to have enjoyed/took advantage of. whats more important is the sustainable long term prices that everyone can take advantage of.
EG(using bitcoin price stats as example)
2017:>900
2018:>5800
not many took advantage of 2017's $19k+ but EVERYONE even you right now can take advantage of the 6x rise from 900-5800
these >900  >5800 are build up from th underlying bottom value made up of cost of acquisition

anyways sticking to acquisition costs

imagine that gold costs $1k to mine and the price of gold was $1100..
then imagine next week they found a way to mine gold for $0.01

all the gold miners will sell their coin not for a bottom limit of $1k to break even like before... but for any price above $0.01 to break even with the new method.. because anything above a penny is profit.

you will also see those market investors. wont want to buy gold for $1000+ because there is a way they can get some for a penny. so they too will become stakers and grab the rewards and then sell down the market further pushing the price down.
because ofcourse why would they buy at $1k on the market if they can buy some for less elsewhere

that said. my point 1 and ur reply and my reply are all on the scenario of a PoW to PoS flip. and me just saying it will cause a price drop of bottomline support value.

HOWEVER
seems alot of ethereum devs have recently agreed that in a couple months they are thinking of changing the ether block reward from 3eth to 2 eth but didnt mention a change to PoS..
and so under that scenario with less ether per block but still doing GPU/ASIC (PoW) mining. the reward goes down which means while PoW mining remaining. the costs rise due to hashrate rise. but the reward drops so the cost per ether goes up. meaning PoW miners are not going to sell for less then their costs. which. if the rumours of them dropping to 2 ether is true then ethereum will go UP in price. due to acquisition costs rising.

[carlou]

There is no chance that the cryptocurrency and blockchain space will see “1,000-times growth” again, Ethereum (ETH) co-founder Vitalik Buterin stated in an interview with Bloomberg September 8.

At an Ethereum and blockchain conference in Hong Kong, Buterin told Bloomberg that the rapid growth of crypto and blockchain industry is now reaching a “ceiling,” and is moving from “just people being interested” to the stage of “real applications of real economic activity.”


https://cointelegraph.com/news/vitalik-buterin-crypto-blockchain-space-wont-see-1-000-times-growth-again?utm_source=Telegram&utm_medium=social

Definately never again  another scenario that made crypto fall sharply because of a lot of investors dump their BTC and ETH after they bought an ICO's scam.

[Lizzyflower]

I agree with him, but some coins are still going to do 1500% when the bull run finally begins. What is major in the space is the application of the various technologies which each project aims to solve. Profit should however be seen as a long term strategy rather than instant gratification.

[Ibizugbe1]

I believe the aim of Cryptocurrencies is not just to to having high percentage rise but to better the many ills in our society and improve our ecosystem by trying to solve complicated problems. Although I hate it when tokens are stagnant as we still want some little value for our investment.

[libert19]

I heard somewhere that this current dip is last opportunity to reap great rewards in cryptocurrency.

Not a financial advice.

[ci1990]

I think it depends on the coin.

Some coins may have the potential to do 1000x ROI.

Of course not ETH or BTC (They have high marketcaps).

However I think it's a great chance to buy some coins now. Market is almost at the dip. Time to invest some fresh fiat into the market.

[senin]

The growth of the price of a crypto currency in 1000 times can be, however for a short time and it concerns such old coins as bitcoin and ethereum. Other coins, especially young ones, which will still appear, can grow to a thousand and a hundred thousand times. Indeed, each coin has its ceiling in price, and they will reach it at different times, depending on the degree of its development.

[Herbert2020]

I think it depends on the coin.

Some coins may have the potential to do 1000x ROI.

exactly.
you can never talk about the whole cryptocurrency market as a whole. you always need to treat them individually although the altcoins all have similar characteristics.
for instance there are currently altcoins that are giving good profit with their pump and dumps. if you look at 1 or 2 weeks ago there was a coin named AU which got pumped 6000% and was so close to replace ethereum on top. so more than 1000% profit is still easily possible

additionally we have bitcoin which is the only solid cryptocurrency with real future. and with its growing adoption 1000x rise is only a start for it, we still have $1 million mark to reach.

[vfrcbv911]

Yeah, he's right a thousand times we won't grow up..... But we can grow a hundred times or a hundred and fifty)

[Kakmakr]

Well, it depends on how long this correction is going to last. If we go down to say $2000 or $3000, then a 800% growth to the $19000 ATH of last year, will not be too unrealistic. We are just running out of time, with only 3 months to the end of this year.  

We might see this in 2019 again, if we follow the pattern that we are in now. The best thing for Bitcoin now, would be to see a natural growth pattern and not this large "Bubble" like price behaviour.  

[BlockchainGod]

He's right. Cryptocurrencies are no longer just a speculative asset for making money, they are actively introduced into the business and therefore now large price jumps are unlikely.

[3kpk3]

We don't need 1000%! A 500% would still be a great rise. If such a thing would happen every single coin would establish a new ATH. Wouldn't that be great? 1000% is just greedy. Vitalik is acting really bearish but if my coin would lose so much value as ETH did I'd be even more bearish than him.

He didn't say 1000%, which is 11 times growth, he said 1000 times growth, which is 99900% increase. He's right here, we won't see 6 milllion dollar price for Bitcoin, maybe our grand-grand kids will. But the part about “real applications of real economic activity”, is a bit more tricky - coins outside of Bitcoin, ETH, LTC, DOGE have very little actual users, even all these flashy coins that claim to be Ethereum killers barely have any users. But at the same time, most Ethereum users are just people trying to get rich quick with ICO's. So, Bitcoin is unsurprisingly the coin that fits his words the best, especially with Lightning Network being a very real thing already.

I agree with you. I like Vitalik, but I strongly believe that Bitcoin will survive no matter what while all remaining coins and tokens including Ethereum may or may not survive in the long run no matter what he says. I have a stack of ETH, LTC, DOGE, Stellar etc which I am waiting to sell once they rise again in the near future and I will only focus on primarily HODLING Bitcoin over the long term.

[Pursuer]

let's not forget that this is the same person who tweeted about a year ago that he doesn't believe in the future of cryptocurrencies and thought they won't rise at all while bitcoin was worth about $900 and he said you should invest in traditional assets instead.

I believe Vitalik is confusing his own pump and dump scheme which is starting to reach its "end of the line" with cryptocurrencies.

[snipie]

The fall in coinmarketcap was scary this few days. There is going to be a massive bull run after this period. Make sure you buy especially Ethereum.

There will be a bull run but apart from Bitcoin it will not be as massive as before for the altcoins.
Many newbies and many from poor countries just trying to make as small profit as possible since they do not believe too much in their invested cryptocurrency, and that is the major problem, few holders and less buyers comparing to sellers.

[coinwizard_]

He shouldn't speak for all coins, and he is right that ethereum won't reach 1000% gains.  However, NEO which is an improved version of ethereum will hit those gains as they have resolved issues with scalability and transaction speeds.

[BLAST2MARS]

I somehow agree to these even I still hope that the prices of crypto will still increase exponentially. Let's admit that the last year's growth has made much more losers than gainers in this market.

[franky1]

I believe Vitalik is confusing his own pump and dump scheme which is starting to reach its "end of the line" with cryptocurrencies.

hav you also noticed that the main devs of coins are starting to hate what they code.
vitalik saying the market prices of coins cant grow much more
Luke JR saying bitcoins technology cannot scale.

it seems they all want to go back to fiat and jump off the bus. but happy to tare what they are coding apart in social discussions

[vit05]

Even gold may eventually grow 1000% against the dollar.

The issue is context and understand how the price of an asset is formed. It's always a pair. That is, the valuation or devaluation of something occurs in relation to this pair.

Today the big comparison is BTC-USD. Usd is very valued these last months for several reasons. In the near future it may suffer great devaluation. Dow Jones has had a strong appreciation, may also be corrected.

So it's not just a matter of the cryptos being highly valued. If they are adopted and have a truly relevant share in the global market, we will have several assets being valued at 1000% relative to usd.

[Zin-Zang]

There is no chance that the cryptocurrency and blockchain space will see “1,000-times growth” again, Ethereum (ETH) co-founder Vitalik Buterin stated in an interview with Bloomberg September 8.

At an Ethereum and blockchain conference in Hong Kong, Buterin told Bloomberg that the rapid growth of crypto and blockchain industry is now reaching a “ceiling,” and is moving from “just people being interested” to the stage of “real applications of real economic activity.”


https://cointelegraph.com/news/vitalik-buterin-crypto-blockchain-space-wont-see-1-000-times-growth-again?utm_source=Telegram&utm_medium=social

Hmm,
All of the rest may be fizzling out , but in ZEIT's Future is at least 1000 times growth.  
It's won't be over night but grow some every year.