Vitalik Buterin Expresses Disappointment in the Crypto Industry

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by Giorgi Kostiuk

a year ago

Ethereum co-founder Vitalik Buterin expressed disappointment regarding the 'moral reversal' in the crypto industry, with blockchain casinos as a notable issue.

Buterin's Discontent with Blockchain Casinos

During his AMA session on February 20th, Vitalik Buterin responded to a question about his main frustrations in the crypto sector last year. He expressed discontent with people criticizing Ethereum for not fully supporting blockchain casinos.

Perhaps the most disappointing thing for me recently was when someone said that Ethereum is bad and intolerant because we don’t respect the ‘casinos’ on the blockchain enough, and other chains are happy to accept any application, so they are better.Vitalik Buterin

Ethereum Community's Reaction

Buterin stated he would leave the blockchain space if its members chose the path of 'moral reversal,' which contradicts his fundamental beliefs. He noted that personal interactions with crypto enthusiasts continue to uphold the community's core values, although online discussions are disappointing.

Changes in Ethereum's Funding Approach

Buterin’s statements followed the Ethereum Foundation's announcement of changes to its funding mechanisms. Earlier, on January 20th, community members criticized the Foundation for selling Ethereum to sustain operations. In response, the Foundation deployed 45,000 Ethereum ($120 million) into various DeFi platforms like Compound, Spark, and Aave.

These statements highlight the current contradictions in the crypto industry and the Ethereum Foundation's commitment to developing according to its principles.

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