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Did Vitalik Buterin Make Ethereum Crash Further? - Global Coin Report
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Did Vitalik Buterin Make Ethereum Crash Further?

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Ethereum crash
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The writing is on the wall that we are in a bear market. The crypto community is aware that for there to be some sort of relief from the current decline, there needs to be some good news not only from Wall Street but from the founders of some of our favorite projects.

Vitalik Buterin happens to be the co-founder of one of Ethereum and his latest comments have not gone over well. Matter of fact, some are saying that he has made the Ethereum crash worse. Some have simply disagreed with him.

Going back to the crypto market, all has not been well since it peaked back in late December to early January. Regulatory fears caused a total capitulation of most crypto traders from Japan, South Korea, and China. Fast forward to the month of September where the crypto community is waiting for the SEC to rule on the CBOE sponsored Bitcoin ETF. Such tension has culminated in a very shaky market as can be seen when with the fake news that Goldman Sachs was shelving plans for a BTC and Crypto trading desk.

To add insult to injury, Vitalik Buterin – in a September 8th interview – told Bloomberg that we are on the cusp of a blockchain ceiling and that the days of 1,000-times growth are behind us. His exact words were:

“The blockchain space is getting to the point where there’s a ceiling in sight. If you talk to the average educated person at this point, they probably have heard of blockchain at least once. There isn’t an opportunity for yet another 1,000-times growth in anything in the space anymore.”

He also added that the strategy of getting crypto adopted through marketing is hitting a dead end. What needs to be done, is more people getting involved in crypto in a more in-depth way where people are more interested in real applications of real economic activity.

Comments Were Ill-Timed

As much as Vitalik’s words are true from a technical point of view, given the current bear market, such words are not what investors and HODLers want to hear. More so, if the said investor is more interested in crypto from a financial angle of profits rather than from the technology part as many enthusiasts are.

What then probably happened, is that the believers of Ethereum watched as their favorite digital asset took a massive hit as the more profit-oriented investors took off. This is more or less what happened when Elon Musk was reported to be smoking marijuana and drinking whiskey during a podcast. The value of Tesla’s stock dipped instantly and there are rumors the American air-force wants to investigate his company: Space X.

Summing it all up, and what we are trying to say, is that the comments from Vitalik Buterin were correct from a technical point of view but ill-timed in a bear market. ETH is currently struggling to get back to levels above $200 with many predicting that it might get worse before it gets better for the digital asset. This might be so with a pending decision at the SEC for the CBOE sponsored Bitcoin ETF. If they were to reject or postpone the ETF, the crypto markets would be affected negatively by some degree.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Top 3 Crypto Trends That Might Go Big in Q2 2019

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So far 2019 has brought a significant change to the crypto industry. Q1 of this year has seen the rise of the idea of IEOs, the crypto space has finally managed to shake off the bears, and numerous coins throughout the industry have seen their prices grow once again.

The latest rally happened only several weeks ago, and it allowed Bitcoin to surge up by $1,000. Most other coins followed in their own way, but the investors are now wondering what to expect out of Q2? The Q1 started off badly, but it ended up being extremely successful. The chances are that history might repeat itself in the second quarter, as there are some key trends that might point the way for the further development of the crypto market.

1. The rise of IEOs

Back in 2017 and early 2018, ICOs (Initial Coin Offerings) were everything that the crypto space was talking about. Their popularity allowed startups to raise billions upon billions of dollars. Soon enough, however, that ended in a pretty bad way. STOs (Security Token Offerings) emerged as an alternative that does not depend on trust, follows regulations, and it actually holds value. However, asset tokenization might still be in its early stages, and this is something that might come back at some point in the future.

In 2019, however, IEOs (Initial Exchange Offerings) started attracting the…

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The Crypto Space Once Again Divided Over Bitcoin SV

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Bitcoin SV
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The crypto community is a strong one, one that managed to bring digital currencies from nothing to an industry worth hundreds of billions of dollars. However, while its strength in this regard is undeniable, the crypto community can be just as fragile given the appropriate conditions. With that in mind, the conditions seem to have been set for a new divide, although the cause is once again the same — Dr. Craig Wright and his Bitcoin SV (BSV).

Craig Wright vs. the (crypto) world

Dr. Craig Wright, the chief scientist at nChain, and the creator of Bitcoin SV. has been a well-known and very controversial figure in the crypto industry. Wright was suspected of being Bitcoin’s creator several years ago, which is possible because no one knows who is behind the name ‘Satoshi Nakamoto.’

Wright was believed to be him, and one theory claimed that he and his friend were responsible for giving life to BTC. However, the theory quickly died out, but not before Wright seemingly liked the idea of assuming the mantle of Nakamoto. He himself started claiming to be Bitcoin’s mysterious creator ever since.

Of course, he managed to gather up some followers, but the majority of the crypto community — while confused — did not believe him. Luckily, there is no need for trust, and Wright should easily be able to prove that he…

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Are XRP and Ripple Going to Be Worth Anything by the End of 2019?

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One surprise recently was when XRP took over Ethereum’s long-held second place in the Market Cap leaderboards. It quickly went back to its traditional and respectable third place behind Ethereum, but it could be a sign of things to come.

XRP has a lot of clout in the market because of the platform it is based on, which is Ripple. A coin that is used for a very specific purpose and with a long term goal in mind is always going to fare better than others. Litecoin, Bitcoin Cash and others have come about because of disagreements in Bitcoin. Therefore they offer nothing except an alternative to Bitcoin as a pure cryptocurrency, while Ripple (and XRP along with it) has something tangible behind it.

Big Banks Back Ripple

Ripple was created in 2012 for a specific reason. It aimed to become a faster and more efficient method to transfer value between banks and countries. This value can be almost anything from currencies to other instruments. While initially, banks were cautious about investing in the company, recently they have been lining up. The crypto winter has helped with innovation int he industry and Ripple has benefitted immensely for it.

The various payment solutions based on Ripple such as xRapid and xCurrent are seeing a large uptake, and this is having an amazing effect on XRP as a whole.…

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