Ethereum Founder Vitalik Buterin Says Crypto Space Should Expand Beyond Finance

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Tue, 06/02/2020 - 16:16
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Alex Dovbnya
Ethereum founder Vitalik Buterin criticizes the Bitcoin-centric mentality of Binance CEO Changpeng Zhao
Ethereum Founder Vitalik Buterin Says Crypto Space Should Expand Beyond Finance
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In his recent Twitter thread, Ethereum founder Vitalik Buterin claims that the cryptocurrency industry should take heed of the fact that fixing finance is no longer the most pressing issue in 2020 as opposed to the previous decade. 

Ethereum
image by @VitalikButerin

While Bitcoin represents a ‘purely financial tool,’ Buterin claims that Ethereum has plenty of use cases that extend beyond that -- from decentralized communication to governance.    

Related Ethereum Might End Up Outperforming Bitcoin, According to Raoul Pal
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The choice of articles matters

Vocal Bitcoin advocates didn’t hesitate to pitch BTC amidst swelling U.S. protests in response to the death of Geroge Floyd, but Ethereum founder Vitalik Buterin is not having it.  

In response to a tweet posted by Binance CEO Changpeng Zhao, the Russian-Canadian visionary says that the industry should expand below ‘Bitcoin is the peaceful protest’ mentality while claiming that reforming money is not sufficient enough.    

Buterin
image by @VitalikButerin

The use of the indefinite article, which singles out Bitcoin as the only possible solution, is what apparently triggered Buterin’s reaction.

He wrote that promoting BTC as ‘a peaceful protest’ would have been ‘much less bad.’ However, he acrimoniously noted that being a whale wouldn’t have saved Floyd’s life.  

Related Ethereum Founder Vitalik Buterin Slams Bitcoin for Having 'Centralized Middlemen'
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Ethereum Founder Vitalik Buterin Slams Bitcoin for Having 'Centralized Middlemen'

Another failed narrative? 

RT host and Bitcoin cheerleader Max Keiser claimed that Bitcoin and individual sovereignly was the only way to win over the system in a Sunday tweet.  

As reported by U.Today, investor Mike Novogratz has linked Bitcoin’s recent rally that pushed its price above $10,000 to escalating civil turmoil in the U.S.     

However, the most recent 10 percent flash-crash has put a damper on the growing narrative. 

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.