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Vitalik Buterin, the creator of Ethereum (ETH), suggests that the falling price of cryptocurrencies is beneficial.
Buterin To tell In an interview with former Bloomberg Opinion columnist Noah Smith, he said lower prices are “good” for exposing weaknesses.
I think price cuts do a good job of highlighting a problem that has always been there from the beginning. Unsustainable business models tend to thrive in good times because everything is going up. , because people have more money at their disposal, and the constant influx of new dollars temporarily supports things.
Ethereum creators say the collapse of the native token of stablecoin issuer Terra (LUNA) is an example of a price crash that exposes an unsustainable business model.
In a crash, as we saw with Terra, this model ceases to function. !!).
But it’s also true in more subtle ways, such as in a bull market it’s easy to sustain protocol development, but when the price crashes it’s often difficult to financially sustain a newly expanded team.
The alleged Ponzi scheme founder of BitConnect was indicted by a grand jury in a US court in February this year.
According to Buterin, cryptocurrency volatility will drop to levels similar to those of traditional assets in the medium-term future.
I am confident that the medium-term future of cryptocurrencies will be calm and as volatile as gold and the stock market.
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