Ethereum's creator Vitalik Buterin has been quick to tweet about what exactly he said and how it has been taken out of context since Ethereum shed 6% in the past 24 hours.
Vitalik shared his frustrations with the mass media, in regards to comments he had made about the current state of crypto, and expectations people may have.
His comments about not likely seeing another 1000x growth coin, in today's crypto have to be put into scale. As he put it - it would require 70% of the entire worlds global wealth being invested into crypto.
Me: obviously, let's be realistic, the entire world wealth is not going to turn into cryptocurrencies...— Vitalik Non-giver of Ether (@VitalikButerin) 12 September 2018
Media: VITALIK IS A PESSIMIST!!!!!1!!1!
Guys, if you spin things this way you're *incentivizing* people to act more like @justinsuntron
To be clear, I never said that there is "no room for growth" in the crypto ecosystem. I said there is no room for *1000x price increases*. A 1000x price increase from today means $200T in crypto, or ~an entire 70% of today's global wealth being in crypto.— Vitalik Non-giver of Ether (@VitalikButerin) 12 September 2018
What I *actually* said is that, because large portions of the population have already heard of crypto, further growth of crypto in any sense must come from *depth* (ie. actual usage), and not bringing in more attention— Vitalik Non-giver of Ether (@VitalikButerin) 12 September 2018