- Vitalik Buterin points out his mistakes of his previous predictions on BTC and ETH
- Re-corrects his views on BTC regulations.
- Points out that he missed the NFTs in ETH white paper.
With the start of a fresh year, many terms to look forward to in future perspectives. However, the co-founder of Ethereum (ETH), Vitalik Buterin plays vice versa. Accordingly, the ETH co-founder took to twitter within the first few hours of January 2, 2022, revisiting all his previous predictions upon the Bitcoin (BTC) and ETH. All those previous predictions date back to the year 2013, almost a decade back old.
Buterin’s Corrections for BTC
Vitalik Buterin takes on a tweet and prediction of BTC made by him in the year 2013. According to the decade old tweet prediction, Vitalik mentioned the effects of decentralization and regulations which are to be imposed on BTC and its growth. As stated by Buterin, he predicted that regulations and rules imposed on BTC would be rather catastrophic for BTC’s growth.
In addition, he previously mentioned that such restraints put towards BTC will not enable it to establish wider borders. On the contrary, at present Buterin tweets that his views today on BTC are that BTC still is surviving and will survive, despite all decentralization.
Besides, the heavily imposed rules and regulations on BTC will not stop BTC completely. Rather instead, these BTC will not be able to flourish possibly as ever before, insists Buterin.
Buterin’s Corrections for ETH
Likewise, Buterin takes on to his previous decade old tweets on ETH, including the flaws left out in the white paper publication of the ETH. In spite of this, Buterin points out that according to his previous tweet, the internet cost for a transaction shouldn’t cost more than 5 cents for a single transaction.
On the other hand, it’s obvious that at present and since new and more scalable and efficient blockchains are on the rise, the major problem for ETH blockchain is in regards with its scalability issues. Accordingly, Buterin insists that they are working profusely on ETH blockchain to make it more scalable and efficient in terms of cost per transaction.Besides, in regards with the white paper of ETH, Buterin acknowledges that he has mentioned almost all the possible attributes of the blockchain ecosystem. Starting from Decentralized Finance (DeFi) to DAOs and much more were included in the white paper. However, one major mistake is that they have left out the major idea of the Non-Fungible Token (NFT) completely. Buterin himself acknowledges these mistakes as per his current tweet reply threads.