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Vitalik Buterin Thinks There Is Too Much Fuss About Bitcoin ETFs, Makes Emphasis on Crypto Cards

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Mon, 07/30/2018 - 20:30
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  • Vitalik Buterin causes a tweetstorm after suggesting that preloaded cards are more important for crypto adoption than ETFs

Cover image via U.Today

Vitalik Buterin took it to Twitter to finally weight in on the recent EFT rejection which was, arguably, the biggest news of the previous week. While he does not deny the importance of crypto ETFs, he believes that there is too much hype surrounding this issue and offers a different mainstream adoption solution.

card

A thought-provoking tweet    

SEC’s decision to reject Winklevoss brothers’ application suddenly made many crypto enthusiasts feel lost and bearish. However, Buterin didn’t seem to be excessively bothered by that. The Ethereum co-founder proposes preloaded crypto card as a more effective way of popularizing crypto.     

Buterin’s tweet provoked a heated discussing that generated hundreds of replies. Some users were skeptical whether the preloaded cards would be able to push crypto adoption to a new level by replacing traditional currencies. While other individuals are certain that Buterin is too dismissive about ETFs, as both ETFs and crypto cards are equally important for the industry.
 

Just a sideshow?  

While Bitcoin has recently crossed the $8,300 mark, Buterin claims that there is a lot of imbalance when it comes to the amount of investments and actual adoption of crypto in mundane operations. As CryptoComes reported earlier, the vast majority of Americans hardly know anything about crypto. It is questionable whether preloaded cards can be the right solution since identification requirements would inevitably make transactions more complicated and time-consuming.

card

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.

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