“Elon Musk’s Influence On Crypto Prices Won’t Last Forever” – fr

“Elon Musk’s Influence On Crypto Prices Won’t Last Forever” – fr

Source: Twitter / @ beeple

Ethereum (ETH) co-founder Vitalik Buterin has claimed crypto markets will learn from the latest price crash – and stop hanging on to every word tweeted by the Tesla chef Elon Musk.

In a video interview with CNN, Buterin pointed out that Musk tweeting about the crypto space “is something the crypto space was only first introduced to literally last year and this year.”

He added,

“I think it’s reasonable to expect a little bit of madness. But I think the markets will learn. Elon will not have this influence forever.

He said markets “will develop an immune system over time,” while admitting that prices have been “vulnerable” to disruptive events.

But Buterin dismissed the idea that Musk’s bitcoin (BTC) and dogecoin (DOGE) activity was motivated by malice, saying:

“The fact that he’s a billionaire over 100 years old and runs Tesla and SpaceX and all of these things don’t change the fact that in the end [Musk] is a human. And humans are excited about dog coins. It’s just something humans are passionate about. I don’t think Elon has any kind of malicious intent in all of this.

Ethereum’s brains have had their say on regulatory issues as well, saying it’s “important to listen to regulators to try and do our best to address concerns.” He said regulation was “still a concern” but ruled out the likelihood of a concerted government effort to ban crypto, saying “it seems a lot more difficult and a lot less realistic to do something like this” because “governments cannot completely take [protocols] down. “

However, he added that governments “have a lot of power to make it more painful to participate in the crypto industry” and that the relationship between regulators and crypto players risked becoming “more confrontational than it should be. “.

And Buterin has weighed in on the debate between Proof of Stake (PoS) and Proof of Work (PoW), which has been in the spotlight in recent weeks.

Ethereum is set to make the switch to PoS, and Buterin added that the network would “go from the same energy as a mid-sized country to consuming the same energy as a village.”

And environmental concerns about PoWs “are real,” Buterin said.

“The consumption of resources is really huge. It’s not the kind of thing that’s going to break the world on its own, but it’s definitely a major downside, ”he said.

And he estimated that unless Bitcoin makes a similar change, it could run the risk of being overtaken by other protocols:

“If Bitcoin sticks to its technology exactly as it is today, there is a great risk that it will be left behind.”

Learn more:
Bitcoin Proof Needed As Critics And Competitors Unite To Play The Climate Card
– Regulators Consider Strategy As Bitcoin & Co Are Too Big To Ignore

– The Ethereum economy is a house of cards
– Extend: Market rereads Bitcoin FUD reading book and waits for next tweet

– Buterin does not get tax deduction for COVID-19 relief donation from SHIB India
– Ethereum’s Vitalik Buterin Now A Billionaire As ETH Prices Rise

– Ethereum’s Buterin Says Tether Is Bitcoin’s ‘Time Bomb Demon’
– Bitcoiners May Change Their Minds On PoS, “Who Knows” Says Buterin


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