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Vitalik Buterin Urges Cautious Approach to Crypto, Is Dismissed

Sead Fadilpašić
Last updated: | 1 min read

On Saturday, Vitalik Buterin, a co-founder of Ethereum platform, once more took to Twitter to urge against going all-in in any cryptocurrency, instead proffering the safety of traditional assets.

He tweeted, “Reminder: cryptocurrencies are still a new and hyper-volatile asset class, and could drop to near-zero at any time. Don’t put in more money than you can afford to lose. If you’re trying to figure out where to store your life savings, traditional assets are still your safest bet.”

However, his followers did not seem to listen. User @CryptoREI replied, “They can go to near zero. Very unlikely. The probability of going to $50-100k btc is much higher. All statistics and probabilities.”

Another user, @DanielERomeroS, accused him of not believing enough: “Many people like me are investing in cryptos because we believe in the technology and the idea of making payments without control of any central institution. Your thinking is a demonstration that you are [losing] the battle against speculators,” also adding, “[Imagine] Henry Ford saying: ‘The cars are new and insecure to mobilize, try to walk instead drive.’”

Words of agreement or encouragement were very few and far between, and accusations of him spreading FUD (Fear, Uncertainty, Doubt) are multiplying by the minute.

Even though his words are a common warning to be careful in general, ironically, the replies to his tweet are filled to the brim with scammers offering “free money” if you send them “only X amount of ETH so they have an address to send your money to you.”