Key Points
Buterin’s Discontent with Crypto Industry’s Focus
Ethereum’s co-founder, Vitalik Buterin, is reportedly weary of the crypto industry’s limited scope. He is particularly annoyed with the notion that the “degen casino” model is the optimal market fit for crypto. This model is seen as profitable for only a small percentage of users.
Buterin voiced his dissatisfaction in a post. His frustration stems from comments made by some in the crypto community and venture capitalists. These comments suggest that the “PvP KOL degen casino” model is the best product-market fit for crypto.
Buterin described these views as “condescending and elitist”. He admitted that these remarks take an emotional toll on him. However, he emphasized that he remains dedicated to Ethereum‘s long-term objectives.
Buterin’s Defense of Ethereum’s Approach
The Ethereum Foundation has recently been criticized for selling large amounts of Ethereum (ETH) without sufficient explanation. One transaction that raised eyebrows involved the exchange of 100 ETH for stablecoins. This occurred shortly after a notable figure in the Ethereum ecosystem defended these sales. They described them as a solid example of how the foundation actually uses ETH.
Despite the criticism, Buterin defended Ethereum’s strategy. He resisted calls for a change in leadership at the foundation. He also addressed allegations of centralization. He stated that “the future of the world computer is decentralized.”
