Vitalik opines that Cyberspace is one area where privacy is facilitated through cryptography. He feels that it is important to fight to keep it. He reinstated in the importance of accountability and stated that new forms of cryptography will be able to provide us accountability and reputation without sacrificing privacy.
Vitalik.eth tweeted: “Price predictions on the crypto space are notorious for turning out very wrong - on both the bull *and* bear side.”
Sydney Ifergan, the crypto expert, tweeted: "Price prediction in the crypto space can be funny many times. I agree with Ethereum ETH Vitalik view on this - no reference parameters to determine the bull and bear value. We do not know what moves the crypto market.”
What influences the price of Ethereum (ETH) or Bitcoin is something none of us clearly know. The entire market flows in relative momentum. There is deliberate manipulation in the market. There is no one who will punish it. No fear or accountability in opinions.
There are no clear ideals about what the risks are in the crypto market, what contributes to the value, and what, in reality, brings down the cost. However, the belief of a widespread future is bright.
Vitalik opines we need a social incentive to say sane things. He thinks it is a good idea to dig out good old predictions that went wrong and laugh them out loud. This kind of social custom he feels will be an excellent custom to practice. At least, the cryptocurrency community will be aware of the fallibility.
He recalled how John McAfee has been talking about a model he used to predict Bitcoin price and about how the price, in reality, accelerated way ahead of the prediction made.
Gabor Gurbacs, a Bitcoiner, in turn, digged out on Vitalik predictions about the timelines for ETH development and stated that Vitalik was also wrong. He opined that Vitalik should start with self-accountability.
Vitalik agreed he was wrong, but an interesting line was added to his acknowledgement.
One of the twitter enthusiasts stated, that Vitalik was more than wrong about Ethereum ETH. He stated, "Not even talking about ETH foundation, but most of the industry. Overconfident statements in a bullish market were like spilling gas into the bonfire. Turned out as extra free profits for them...”
It would be nice to have someone who will make predictions with a reasonable level of confidence as opposed to overconfidence.
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