"Reminder: Cryptocurrencies is still a new and hyper-volatile asset class, and could at all times fall to almost zero," he wrote on Twitter.
"Do not put more money than you can afford to lose." If you try to figure out where to save your life savings, traditional assets are still your safest bet, "he added.
Buterin's message came as a fraudster who had imitated him on Twitter promoted the kryptocurrency offer. In response, Buterin has warned its followers in several tweets, not relying on anyone asking or making money on Twitter.
Unlike other active characters in the crypto area, Buterin does not often mention how his invention will change the financial system, despite the fact that Ethereum is now the second largest crypto currency with the total market value next to Bitcoin.
In fact, Ethereum was created for a totally different purpose than Bitcoin.
While Bitcoin is a currency designed to replace the issued currencies, Ethereum is just a token based on a decentralized platform that provides "smart contracts." Technology is most used for the protection of intellectual property for content creators.
Vitalik Buterin is such a stand-up, exemplary guy. He doesn't care about the money, he only cares about making his project work and revolutionize how we can use blockchain-technology in the future. That's why, contradictory as it is, I'm fine with investing some money into ethereum. It's nice of him though that he's concerned about his following and that he takes his time to protect them from the scammers in this space.
EOS will beat ethereum for sure, just give it some time.
Healthy competition is always good for the cryptospace. I think EOS still has a long way to go, but has great potential indeed. And let's not forget about NEO of course ;)
that's completely true , and indeed NEO is not to underestimated neither
Right
He's right that you should never invest more money than you're willing to lose.
That said, I don't really mind investing the majority of my savings into crypto. If it drops back to zero, so be it. I'm in it for the long haul, because I truly believe in the success of crypto.
Same thoughts here.
That's also what I'm counting on, that there are more like-minded people. Can't drop to zero if there are enough people that think alike.
So this is the reason the market dropped so much today! The FUD was strong today.
If you look at your crypto portfolio now, you might think it’s going to drop to 0 today!
Yeah saw that news
I think these people should encourage and develop more projects
Rather than telling stuffs like this
That's right, do not invest more than you are willing to lose.
Nice
What does he mean by traditional assets if I may ask. Can anyone please give clarity on that?
Thanks for sharing @tradewonk
Bonds, real estate, stocks, funds, just google it.
Yes
Thanks @epelius for your response
Thanks for the information @tradewonk, now we are more careful
he told the truth. because the crypto world anything can happen. sometimes it will touch the high peak and sometimes it will go down to zero. so it is better to invest the amountt that you can afford later.
I like the support of the project and its refreshing to hear the honesty in him. So many coin leaders are all about the pump pump pump that they fail to see the lost value for the market as a whole if things go sideways. It is so true to only invest what you can. Zero Is a scary though though.
a lot of those scams people actually send... i give you 10 you give me 20? come on guys think!
Whatever the purpose for which Etho was created, the fact is that it has made a lot of people to get out of financial situation. I intend to invest little by little into it considering my financial status. Thanks for the information though.
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We should encourage to joint more people in blockchain
I just have a hard time believing that a new tech, that has viable uses, is a revolutionary technology, and has billions invested in it will somehow magically revert back to 0. I get it's incredibly volatile and being a new technology the use cases are just emerging. One can't make accurate speculations on what the price is or what it will be. I just still have a very hard time believing that crypto will completely dry up.
Great post sir... Thank's to share thise post...