Crypto 'prophets' are speaking

Crypto 'prophets' are speaking

Vitalik Buterin believes in a bright future for Ethereum and denies the financial power of Rothschilds, and 'bubble' predictions by Joost van der Burgt.

Vitalik Buterin stated that the Ethereum network will now be capable of handling millions of transactions per second

The key to this speed is sharding and plasma.

There are already many solutions for blockchain scalability. Some blockchains were created to maintain a high transactional capacity, for example, EOS, Zilliqa, QuarkChain, or IOTA (okay, that’s a DAG technically, but it serves the same purpose). Other blockchains are relatively slow because they were the first on the market, like Bitcoin and Ethereum. However, they are still the most popular because of their role as first movers. Nevertheless, they desperately need scaling solutions. The Lightning Network for Bitcoin is already up and running. Ethereum was intentionally designed in this way, with the aim of eventually having a 2nd and 3rd layer. Now they are nearly complete. Sharding divides the network into hundreds and thousands of groups, where each one runs their own transactions. This can help potentially scale the network to thousands of transactions per second. But, the most important solution is Plasma. Plasma is being developed by the OmiseGo team, and it's near completion. This will allow Ethereum to scale to millions of transactions per second. Is it enough for corporate and mass adoption? Definitely. Big companies are deeply interested in Ethereum, and it seems unlikely that it will be dethroned by another competitor. When all these solutions are fully developed, we'll see hundreds, if not thousands, of reasons for using Ethereum. And it seems that it's going to happen pretty soon.

Joost van der Burgt from the Federal Reserve Bank of San Francisco declares Bitcoin a bubble

According to van der Burgt, it follows a classical chart of bubbles. Right now we’re still at an early stage, and the major profit-taking is yet to happen.

Every week we see a new doom prophet and, alternatively, a new bull prediction. But this one is really hard to believe. Joost van der Burgt predicts that Bitcoin is still in the early phases of profit-taking, and we haven’t see the real dip yet. But he thinks that it's possible at this stage for Bitcoin to continue the fall. We see an immense interest from new big investors, and we're moving slowly to the point of institutional investors entering the market. You should take this into account when making a prediction. A big injection of new institutional money will keep crypto afloat, at least for the next 2—3 years.

Vitalik Buterin doesn't believe that the Rothschilds will be able to control the crypto market

He said that their influence won’t affect the market and that they can release any currencies they want.

Vitalik doesn't believe in Rothschilds’ conspiracy and thinks that they can't influence the crypto market. He could be totally right. Let's not forget that the peak of their power was long ago, in the 19th century. Of course, they are still considered wealthy and powerful. However, this idea is common opinion, left over from earlier times when they had influence over half of Europe. When you exert control for more than two or three centuries, people have the impression that your dominance will remain permanent. Now, in the 21st century, we have many wealthy people in the world but the names Rothschild and Rockefeller are still synonymous with 'wealth'. Let's not forget that their capitals, for the most part, are stored in shares and real estate. They don't have that much cash to manipulate the world markets or even corner the crypto market. Therefore, it's time to stop treating these names like the be-all and end-all in financial advice.


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