Ethereum's Buterin Shared His View on Role of Crypto Phillips
Main page Opinion, Ethereum

The main idea behind the world of crypto is to do things that accomplish "meaningful effects in the real world," Ethereum's Co-Founder, Vitalik Buterin, wrote in an email to TIME. He said that starting from this year, he wants to be "more risk-taking" and "less neutral" so that he would not waste his time for nothing:

"One of the decisions I made in 2022 is to try to be more risk-taking and less neutral. I would rather Ethereum offend some people than turn into something that stands for nothing."

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Vitalik's father, Dmitry Buterin, lived through the USSR propaganda. And he did not want the same fate for his son as he wanted Vitalik to "question conventions and beliefs." That idea became reality since the Ethereum Co-Founder grew up "very independent as a thinker," Dmitry notes.

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"Growing up in the USSR, I did not realize most of the stuff Iā€™d been told in school that was good, like communism, was all propaganda. So I wanted Vitalik to question conventions and beliefs, and he grew up very independent as a thinker."

Vitalik says he is in favor of the old good Internet where there was no monopoly, censorship and everything was mixed up together. That libertarian ideology is the foundation of blockchain and what many blockchain networks ā€” including Ethereum ā€” are trying to stick to:

"I would love to have an ecosystem that has lots of good crazy and bad crazy. Bad crazy is when there is just huge amounts of money being drained and all it is doing is subsidizing the hacker industry. Good crazy is when there is tech work and research and development and public goods coming out of the other end. So there is this battle. And we have to be intentional, and make sure more of the right things happen."

In May last year, the Ethereum Co-Founder Vitalik Buterin sent 90% of his remaining shiba inu tokens (SHIB) to an inaccessible address and thus burned them. The tokens burned by the Ethereum developer had a value of about $7 billion at that time. Vitalik Buterin explained his decision in a comment on the transaction on the blockchain, saying he wanted to donate the remaining 10% of SHIB to charity. As a result of that burn, the price of the SHIB token skyrocketed by 50% in just one hour.

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