Ethereum's Founder Believes Elon Musk Will Lose His Influence!

Vitalik Buterin, the founder of Ethereum, spoke about the tweets of Elon Musk, who leads the cryptocurrency market.

Ethereum’s founder believes Elon Musk will lose his influence. Vitalik Buterin made important statements about the recent declines in the cryptocurrency market and Elon Musk's posts. While Buterin stated that cryptocurrencies are in a seriously inflated bubble right now, about Musk's tweets, said, "Elon will not have this effect forever." Vitalik Buterin, who made special statements by the US media to CNN, spoke about the recent decline in the cryptocurrency universe.

"Balloon May Have Already Been Exploded"

Stating that it is very difficult to predict what the big drop on Wednesday meant, Buterin said: “It is very difficult to say when such balloons will burst. Maybe this bubble burst. Perhaps it will explode months later. We've seen at least 3 such crypto bubbles. Why do these balloons burst? An event happens, there is an improvement and it is understood that the technology is not sufficient for the current conditions.”

"Crypto Is Not A Toy Anymore"

Stating that cryptocurrencies are now on the way to becoming mainstream, the 27-year-old software developer said, “This was not the case 4 years ago. We couldn't say it was mainstream. We are now very close to this situation. Cryptocurrencies are no longer toys.”

Evaluated Elon Musk's Tweets

The Ethereum founder, who evaluated the shares of Elon Musk, the founder of the electric car manufacturer Tesla, and their impact on the cryptocurrency market, said: “An incident like Elon Musk's tweets had never really seen the crypto universe. It seems reasonable to expect a little madness. But I think the market will learn from all this. It will develop an immune system against these situations. Elon won't have that effect forever.”

"Musk Is Just A Human"

Buterin stated that this is an innocent interest in the question of Elon Musk's interest in DOGE and regularly "pumping" this cryptocurrency when asked, said, "His management of companies such as Tesla and SpaceX does not change the fact that he is a human. People are also excited about these 'dog coins'. There is nothing to do. That's what people are excited about… I still don't think he's malicious about it."

"What is Free Coin, I don't know"

Asking his fans or project developers not to send him Doge, Shiba or other units for a specific purpose, Vitalik Buterin said, “I don't understand these projects. So I cannot make any comments. I saw a few thousand dollars' worth of 'free coins' in my wallet. I don't know what is it? It would be better for people not to send me and donate in such situations.”

"Governments Cannot Prevent"

Noting that governments cannot completely prevent cryptocurrencies but have the power to make life more difficult for them, Ethereum founder said, “They can restrict access. Regulations have always been a problem.”

"Prices Will Fall"

Noting that the transaction and gas fees in ETH are high for now and due to intense demand, 20 to 50 transactions can be made per second, Buterin said, "I am confident that the prices will decrease with technological developments and scaling."

"Energy Consumption Debate Is Right"

Buterin, who made statements especially about BTC and energy consumption initiated by Elon Musk, said: “Ethereum will move from the energy consumed by a medium-sized country to the energy consumed by a village, as a result of technological developments. I think this is an important discussion. The resource consumption is huge. Of course, it cannot destroy the world alone, but it does considerable damage.”