Ethereum co-founder Vitalik Buterin has conceded that the price of Ether (ETH) is important for the future of the ecosystem, despite past comments contradictory to this.
Speaking at the Columbia Journalism School earlier this week, Buterin admitted that in the early days of Ethereum the developers were not focused on the price of ETH. Instead, the efforts were focused on pushing forward the development of smart contracts. They even felt it gave them an edge over other cryptocurrency projects that were promoting ”lambo-ing”, as Buterin put it.
First @laurashin asks @VitalikButerin if he thinks the price of #ETH is important, and then she polls the audience. #unchained pic.twitter.com/8xNIQ0XzJc
— Columbia Blockchain (@ColumbiaCBA) March 20, 2019
Now, however, his outlook has changed. “I’m going to be really candid,” he told the full-house audience, acknowledging that the developers now see that “projects will be better if prices go up”.
ETH currently stands at around USD 135 — a 90% loss from its December 2017 peak, so it is perhaps not surprising that Buterin is concerned over funding for future Ethereum protocol development.
When the Columbia Journalism School audience was polled over whether they believed Ethereum developers were focused enough on the price of ETH, only 13% said yes. About 28% said they believed they should focus more on ETH price, while 39% said they did not care.
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