The words of co-founder Ethereum, Vitalik Buterin, about the fact that it is no longer possible for the cryptocurrency market to grow a thousand times in the future, caused great emotions in the community. The answer for those words comes from Binance CEO – Changpeng Zhao.
“Blockchain space is approaching the point where you can see the ceiling … If you talk to a moderately educated person, you’ll probably learn that she has heard about the block network at least once. There is no chance for another 1000-fold increase in anything in this industry. ”
This is the end?
That is what the founder of ETH said in an interview with Bloomberg. He also admitted that the strategy of the whole community regarding the promotion of cryptocurrencies was good, but it is already out of date. Therefore, he thinks that this is the end of such spectacular bubbles on digital currencies.
These words caused great controversy. Even on Polish social media, some of them tapped Buterin for a sober, analytical look, others ridiculed the fact that he reportedly sold a large portion of his tokens long before the 2017 bubble.
Answer from the bull
The Binance CEO, known as CZ, has also publicly spoken. He rejected Vitalik’s arguments. He thinks that the main cryptocurrencies – or the bubble horses – such as Bitcoin and Ethereum, are just becoming popular.
– I still disagree – notes CZ – I will say this: cryptocurrencies will absolutely develop 1000 times and more! Only reaching the market ceiling in USD will give them a value close to 1000x, and the derivatives market is much larger.
In addition, CZ argues that a thousand-fold increase in prices may be unrealistic on the traditional market. In his opinion, the cryptocurrency market can overtake the traditional financial market.
CZ compares the use of the traditional size of the market to measure the potential of new technologies and industries to the point that someone “used the size of the taxi market to estimate the Uber potential,” says Binance CEO