#15c How The Rich Get Richer Ethereum’s growth is fueled by Vitalik’s economics brilliance and trustworthiness, says...

Ethereum’s [ETH] growth is fueled by Vitalik’s economics brilliance and trustworthiness, says American economist

In a panel discussion, Tyler Cowen, an American economist and a professor of economics at George Mason University, briefly spoke about Ethereum and its co-founder, Vitalik Buterin.

Tyler, at the event organized by Bloomberg, stated that many individuals in the community had become millionaires by doing something “no one else told them to do” and according to him, that was a very powerful shared experience. Tyler further added:

“I recently spent about five hours with Vitalik and he is one of the handful of smartest people I have ever met.”

He further mentioned that Vitalik was a remarkable individual who had “zero” formal training in economics. Furthermore, Vitalik had written informal papers and had posted them on his website. The papers had complex technical results which were detected by Nobel economists and Vitalik could figure it out just by himself. Tyler commented:

“I’m a professional economist and if I talk economics with him, there’s no argument I can give him that he cannot immediately figure out. He can even be ahead of me. He’s just simply a remarkable man.”

According to Tyler, Vitalik was also very upfront about what blockchain technology had achieved and what was still left unachieved. He further stated that meeting Vitalik was one of the best experiences he had and that he will remember it for the rest of his life.

Tyler also spoke about the connection between Vitalik’s brilliance and its “usefulness” on the Ethereum platform. He added that Vitalik himself would be uncomfortable on the level of trust individuals had on him.

Most of the trust individuals had on Ether or Ethereum was because of Vitalik. In addition, he was always “to the point” and was willing to admit about what he did or did not know, the professor added.

Thus, Vitalik had become an “oracle” to the Ethereum community, which was a part of both the strength and weakness in the platform; the former, because it helped individuals in the community to coordinate efficiently, and the latter, because it was a sign that the platform’s mechanism was supposed to work in a formal way.

By: Ajay Narayan

_______________________________________________________________________

My take on the entire crypto world as a whole is as follows:

  1. It took some kind of genius to think up and facilitate a decentralized blockchain ledger that I believe in time will change the way we live financially, politically, and socially. It removes all fraud. It offers complete, undeniable transparency. What a genius to implement this entire system of protocol. Although there will be numerous coins in the crypto-space that will be worth zero, similar to a penny stock etc. Although I’m a firm believer in the bitcoin and ethereum story, for the long term. As most people who follow cryto understand, they are about 80% off their highs. Understandably so, as this is simply the insider’s who got in for pennies a coin selling off and becoming instant multimillionaires by doing so. Can you blame them? When the insider selling stops, it’s quite possible that the big names in this space could rise again as the entire infrastructure is still in its infancy. We’ll wait and see!
  2. Many people will lose all their money investing in these cryptos. But, a few people may make fortunes. Make no mistake, it is gambling, just like the stock market. Although, there looks to be a bright future ahead on the horizon. Especially in the ethereum space. As the people who created this are plain and simple fucking geniuses. In fact, they’re so smart, they look weird. Take a look at this clown to the right. His name is Vitalik Buterin. If this guy doesn’t scare the kids, I don’t know who will. If you ask me, he looks like he’s from another planet. Maybe his spaceship is in the background of this picture? Who knows. All I can say is, to me he looks too intelligent to have any bad intentions or be any kind of fraud. He looks like a guy that is out to change the world, therefore I invested a chunk of money, (or should I say gambled a chunk). Let’s see what happens!

       ABOUT THE AUTHOR

Robert Louis Annenberg

Is a 40 year seasoned property
owner/manager/investor/builder/developer
and business man who also happens to be
an author of 5 books and the chief editor of
LifeQuestJournal.com
He can be reached at: Info@RobertAnnenberg.com
and (201) 289-2500.

 

 

About The Author

Robert Annenberg
Robert Annenberg
Robert Louis Annenberg Is a 40 year seasoned property owner, manager, investor, builder/developer and business man who is also an author of five published books to date (Amazon.com) and the chief editor of LifeQuestJournal.com. He can be reached at: Info@RobertAnnenberg.com and (201) 289-2500.