In an interview with the host of Unchain Podcast Laura Shin in New York, Ethereum co-creator and one of the blockchain pioneers Vitalik Buterin addressed some topics – from Ethereum price to regulation. Regarding Ethereum price, Buterin said rising Ethereum price is important for the space.
“In part, it was counter-signaling to distinguish [Ethereum] from other crypto projects that do pumping and lambo-ing way too much. But also it was about minimizing the legal risk by basically trying to make the project seem more distant from something that would be covered by financial regulation.”
Regulators are familiar with cryptocurrency by now
Buterin added that by now regulators are conversant with cryptocurrency and know that digital tokens have a price attached. They also understand that crypto markets are typically volatile and no one can really predict the future of any digital asset. The price of a coin may go up, or it may go down, and there’s no way to tell. They understand what blockchain is and that developers can create decentralized applications on top of these platforms. He further stated that even if the price does not matter to others, it does matter to him.
“Even if people try to claim the price doesn’t matter at all, [regulators] are totally going to see through that,” said Buterin.”
Shin then polled the audience asking them whether Ethereum developers are focusing enough on the price of ETH. The poll received some votes, with more than 37% saying they don’t care.
Ethereum (ETH) has been one of the most underperforming virtual coins in the market since the entire crypto market crashed at the beginning of 2018. The value of Ethereum has plummeted by over 80 since the start of last year.
Aside from being a currency, Ethereum is also a platform. It is the first to introduce smart contract technology that allows developers to create and deploy decentralized applications (dApps).