The co-founder of Ethereum has told investors who are tired of watching prices to stop doing that and instead focus on the tech.
Vitalik Buterin, the co-founder of Ethereum, has some wise words for traders who are down about the crypto bear market: Don’t focus on the price, focus on the tech.
In response to a Dec. 3 post from self-described crypto investor CoinMamba, Ethereum’s co-founder made this suggestion, which is likely what many crypto investors are feeling right now.
“I’m pretty tired of crypto after 9 years. I want to move on with my life and do something different. Sick of all these cheats and con artists, “CoinMamba said.
Since FTX went down and caused a chain reaction, which recently killed the crypto exchange BlockFi, the crypto industry has been getting a lot of bad news.
BNB Chain-based decentralized finance (DeFi) protocol Ankr recently confirmed that it was hit by a multi-million dollar exploit on Dec. 1.
Even before that, hackers stole more than $2.98 billion worth of digital assets in 2022, according to data from blockchain security firm PeckShield.
A big part of it came from the Ronin bridge hack, which led to the theft of $625 million worth of crypto assets back in March.
Buterin says that all the bad news can be stopped by moving away from trading and investment “circles” and toward the “tech and application ecosystem.”
He said, “I’d suggest getting further away from trading and investing circles and closer to the tech and application ecosystem.”
“Learn about ZK-SNARKs, go to a meetup in Latin America, listen to All Core Devs calls and read the notes until you know all the EIP numbers by heart,” he said.
Anthony Sassano, an Ether bull and host of The Daily Gwei, agreed. He said that the bear market is the “perfect time” to stop watching the market and learn more about tech.
“Much more signal than noise (especially in the Ethereum ecosystem), and the tech side is so much more interesting than the markets anyway.”
This year, Ethereum has given investors a lot to think about. On September 15, the long-awaited Merge was completed, and the network switched from a proof-of-work consensus to a proof-of-stake (PoS) consensus.
Buterin later added a new category of goals to the Ethereum technical roadmap. This goal is to make the Ethereum network more resistant to censorship and less centralized.
“Being in it for the tech is already a big and positive cultural shift compared to being in it for price changes,” Buterin said in a recent tweet.