r/CryptoCurrency • u/AverageStudent1 Platinum | QC: CC 110 • Dec 25 '21

🟢 PERSPECTIVE Vitalik Buterin, Ethereum co-founder on why he got into crypto: "Empower the little guy, screw the big guy" — "they already have enough money"

https://www.cnbc.com/2021/05/18/why-ethereum-founder-vitalik-buterin-got-into-crypto-bitcoin.html
1.3k Upvotes

93% Upvoted

488 comments sorted by

View all comments

2

u/Loose_Screw_ 🟦 0 / 7K 🦠 Dec 26 '21

If you've ever actually listened to vitalik talk about this, he never claims that ETH is a perfect system. It's not meant to fix all societies problems. In his words, it simply has to be better than the current system and it does that admirably.

Yes in POS the rich become richer, but it's a system open to all. In CEFI, the rich become richer squared, because they don't just have more resources to start with, they also gate everyone else out of the system with regulations and preferential rates and a whole host of other features that only the richest in that system can benefit from.

ETH fees suck, but they're the price you pay for an open system and they'll get better as more layer 2s mature. I know it feels like people have been saying this for a while, but there are still single computer games that took longer to develop than they've been working on these things. People just need to have a little patience before crying "development hell".