Ethereum co-founder Vitalik Buterin believes that the high price of cryptocurrencies is a favorable factor for network security and for the development of a broader ecosystem. He said this during an interview with Laura Shin on the recent podcast “Unchained”.
Answering the question of whether the developers of the Protocol and project managers to pay attention to the course of bitcoin, Buterin addressed to “the earlier rhetoric of” around Ethereum, which assumed the declining importance of the price aspect.
“Partly it was a signal designed to distinguish us from other projects that were too fixated on raising rates and “lambach”. In addition, it was necessary to reduce legal risks by creating a project that is seemingly different from those that fall under the financial regulation,” said Buterin.
Today, regulators are more familiar with cryptocurrency space, so “even if people are trying to say that price does not matter, they will see through it.”
“I can think of reasons why the high price better low. One of them, obviously, is security. If the price is zero, the network might not be safe. This is true for Proof-of-Work and Proof-of-Stake”, he added.
The second argument Balerina to do with the fact that the organizers and developers of projects are often the holders of tokens, so their activities are financed better, if the price remains high.
Recently a question was raised about the financing of own activity of the Creator of Ethereum. According to partner crypto Capital Fund Tetra Alex Sunnarborg, Buterin could fetch $40 million from the sale of ETH from June 2017 to February 2018.
According to the portal Etherscan, Buterin could bring in Fiat 544 998 ETH in 2015. Although today the overall balance primary address Buterin is around $50 million at the peak in December 2017, when the price of ETH exceeded $1 300, the value reached $500 million.
Sunnarborg, appealed to the founder of Ethereum, that he commented on his detention, to which the latter again replied that he did not sell bitcoin at a high rate, which in fact, its Fiat ownership is less than $30 million, and recalled that about $8 million was spent on charity.
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