The head of Ethereum development, Peter Silady, expressed his disappointment with the crypto industry and suggested that he had made a mistake in the industry.
I often wonder if I'm in the wrong industry.
Take SpaceX for example. They send a rocket to Mars? Humanity advances. They fail to send one and blow it up? Humanity learns a lesson and advances. All outcomes lead to progress.
In contrast, crypto is a damn casino for dum-dums…
In his opinion, digital assets do not contribute to the development of mankind. As an analogy, he cited SpaceX, which are "moving the world towards progress" by launching rockets to Mars.
"On the contrary, cryptocurrency is a damn casino for fools (I apologize to a select few). Are the numbers growing? Hooray, let's buy Lambo. Are the numbers falling? Lives are falling apart. Where is the contribution to the development of humanity?", — wrote Silady.
He acknowledged that it takes time to create a "new financial ecosystem." However, during this process, no one creates "useful things", but instead "everyone is busy extracting benefits," the developer believes.
Siladyi stressed that it was time for the industry to create a new and useful product or "close the shop."
"I really don't understand why this system shouldn't collapse? What will we lose in the overall scheme of events? All that the cryptocurrency has achieved is the transfer of enormous value, but so far I don't see any creation of this value," the Ethereum team leader wondered.
He stressed that "bitcoin is at least trying to become a reliable asset," although it is failing. At the same time, other cryptocurrencies are "selling with shovels," so there is no "gold rush in sight."
Earlier, Ethereum co-founder Vitalik Buterin called blockchain protection from authoritarian regimes, and the head of Wintermute CEO Evgeny Gaevoy criticized it because of attempts to build "planned socialism."
Recall that in July, blogger and former professional kickboxer Andrew Tate announced his intention to "fix" the crypto industry. He blamed the community for focusing solely on quick and easy profits.