Home / Crypto Currency / Ethereum Founder Buterin: ‘Traditional Assets Are Safest Bet’ for Life Savings

Ethereum Founder Buterin: ‘Traditional Assets Are Safest Bet’ for Life Savings

Vitalik Buterin Ethereum Central Banks


Get Trading Recommendations and Read Analysis on Hacked.com for just $39 per month.

Blockchain veteran Vitalik Buterin, co-founder of the Ethereum network behind No. 2 cryptocurrency by market cap ETH, is a realist.

While last year may have put cryptocurrencies on the map, Buterin brings up the risk/reward profile. He doesn’t want investors to have false illusions about pie-in-the-sky returns without identifying any of the risks. Meanwhile, the ETH price has advanced nearly 40% since Feb. 5.

Buterin took to Twitter, which is often his soapbox platform of choice, to seemingly tout the merits of traditional investments at the expense of cryptocurrencies but only in the event when an investor’s life savings are at stake.

He doesn’t offer specific investment advice though stocks and bonds are about as traditional as securities get. His comments echo the sentiment of regulators around the world that don’t want to see investors risk it all on an emerging asset class. Meanwhile, even traditional asset managers tout the merits of diversification.

Buterin has a flair for engaging with his followers on Twitter, using the thread to also announce an ETH promotion. Followers up to a certain number who sent a fraction of ETH to a specific wallet address he provided were rewarded with between 5 – 7 ETH, which totally enthused his base that may have otherwise been deflated by his sobering remarks on cryptocurrencies.

Buterin’s advice to not invest “more money than you can afford to lose” isn’t the first time he’s addressed cryptocurrency prices. Previously he expressed some frustration with the focus on price. Back in December he tweeted –

His remarks also resemble those of other blockchain pioneers that have similarly warned investors about the unknown risks tied to the experiment that is cryptocurrencies.

$100 Mil Project

While Buterin evoked a number of responses for his most recent tweet, not all of which were supportive, his role and influence are paramount to the evolution of the market. He just appears to be more project focused than cryptocurrency-price focused.

For instance, the Ethereum Foundation’s recently announced Infrastructure Grant Program plans to direct $100 million — reportedly across fiat money and digital coins — via the Ethereum Community Fund to promising projects on the Ethereum network for infrastructure and decentralized applications.

Other partners in the initiative include Cosmos, OmiseGO, Golem, Maker, Global Brain and Raiden. OmiseGO founder Jun Hasegawa said of the collaboration:

“One project in isolation can create a product to disrupt an industry, but by working together we can create a framework that will change the world.”

They’re presently taking applications and donations to the fund.

Separately, Ethereum Foundation announced a change in its board. Executive director Ming Chan is stepping down and is being replaced by Kraken alum Aya Miyaguchi.

Featured image from Shutterstock.

Follow us on Telegram.
Read more

Check Also

Top 6 Altcoins Gaining on Bitcoin – 2018 Week 40 Edition

This past week has been relatively interesting for a lot of different cryptocurrencies. Although the gains over Bitcoin are quite high for a lot of projects, it remains to be seen how long they will remain in place. The following six coins noted the biggest gains over Bitcoin this past week and are ranked in ascending order. Statistics are provided by OnChainFX. #6 Cardano There are a lot of people who focus their attention on Cardano as of late. This particular cryptocurrency has not had the best of years, although the same applies to all other cryptocurrencies throughout 2018. Over the past week, Cardano gained 15.43% over Bitcoin. Holding on to this gain will be challenging, as all markets are on the verge of going down in price. #5 ZCash Although there hasn’t been too much buzz regarding ZCash as of late, the currency is still trucking along nicely. More specifically, the upcoming Sapling upgrade will introduce some big upgrades. Until then, ZCash is gaining on Bitcoin at a steady pace, resulting in a 15.79% increase in ZEC/BTC over the past seven days. #4 GXChain The GXChain project will not ring a bell for most people. It is a cryptocurrency venture designed to become a blockchain-based decentralized data exchange to bridge between data sources across different platforms. Over the past seven days, GXChain has gained 17.84% over Bitcoin. A very impressive trend, although it remains to be seen if it can remain in place. #3 GameCredits Another cryptocurrency project most people tend to forget exists goes by the name of GameCredits. It allows gamers around the world to benefit from one unified form of money in the GAME cryptocurrency. This past week has resulted in a 19.9% gain over Bitcoin for GameCredits, indicating there is some buzz regarding this project behind the scenes. #2 Monacoin For a cryptocurrency which is mainly popular in Japan, Monacoin is noting some impressive gains over Bitcoin in the past week. Monacoin aims to become the first Japanese cryptocurrency, and it seems this project has increased in popularity over the past few days. A strong increase in the MONA/BTC ratio resulted in a 20.41% gain for the altcoin. Very impressive, albeit not sufficient to claim the top spot on this list. #1 XRP Despite the cryptocurrency community’s rather hostile attitude towards Ripple and their XRP asset, no one can deny this past week was all about XRP. It noted a near 110% increase in USD value at its peak, and currently maintains a 51% increase in BTC value. Although a portion of these gains will be removed from the equation soon, it was a very impressive week for this digital asset regardless. The post Top 6 Altcoins Gaining on Bitcoin – 2018 Week 40 Edition appeared first on NullTX.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Disclaimer: Trading in bitcoins or other digital currencies carries a high level of risk and can result in the total loss of the invested capital. theonlinetech.org does not provide investment advice, but only reflects its own opinion. Please ensure that if you trade or invest in bitcoins or other digital currencies (for example, investing in cloud mining services) you fully understand the risks involved! Please also note that some external links are affiliate links.