(Newswire.net — August 6, 2018) — It looks like someone has an intriguing point for the crypto community on mass adoption, and that’s no one but the Ethereum creator.
The co-founder has noticed the crypto community’s focus on ETFs and has got some suggestions for the crypto community which may lead to mass adoption, for which he took it to twitter and presented his opinions on ETFs and mass adoption, where he wants the latter to be more focused by the crypto community for betterment.
The Ethereum’s co-founder tweets on how the crypto community is too much focused on ETFs and minimizing the thought of making it simpler and easier for people to use it.
Ethereum creator’s views on ETF and Mass adoption
On Sunday, 29th July of 2018, the co-founder of Ethereum, Buterin Vitalik took to Twitter to discuss his opinions on the crypto community, which later triggered the latest Ethereum news on the forums.
He tweeted – “I think there’s too much emphasis on BTC/ETH/whatever ETFs, and not enough emphasis on making it easier for people to buy $5 to $100 in cryptocurrency via cards at corner stores. The former is better for pumping price, but the latter is much better for actual adoption”.
By this statement, he meant that the crypto community is too much focused on Exchange Trade fund’s rather than making the use of cryptocurrency easier as a mode of payment for the regular purchases through payment cards.
Adding a suggestion to his statement, he continued saying that ETF will definitely benefit the cryptocurrency prices, but easing its use for the people can lead to more mass adoption.
The triggered retweets of the Twitterati to the Buterin’s tweet
And predictably, his tweet drew a lot of attention on Twitter.
In response to Buterin’s tweet, another tweeter retweeted noting that building the ability to ear the cryptocurrency can do more in influencing the adoption.
According to him, when one earns the cryptocurrency, the conversion of it to fiat is not necessary and that presents an inconvenience.
Another person of twitter retweeted, noting the previous attempts of making the cryptocurrency usable for the transactions (retail) but the regulatory concerns prevented the businesses from issuing the cards.
By which he meant that the previous attempts have not proved to be more successful, but he also added that such attempts may be successful at this point in time.
While the rest claimed that there is no benefit in using the cryptocurrency for retail transactions.
ETF and Mass Adoption
While Buterin Vitalik views the everyday transaction as a cornerstone to the mass adoption, the cryptocurrency ETFs availability can play a role in getting the opinion into action.
The U.S SEC (Security and Exchange Commission) clarified recently stating that the Bitcoin and Ethereum are not securities, to which most of the crypto advocates concurred since the news bodes well for the cryptocurrency ETFs.
However, it seems like the SEC’s clarification also goes well for the crypto community in ways of impacting mass adoption. Few others also viewed the SEC’s clarification as validating the Coinbase’s move to encourage the ERC-20 token standard.
Coinbase’s General Manager who is also the vice president, Dan Romero last month stated that the current track of cryptocurrency regulation is vital for the organization in order to integrate digital assets, which can’t be categorized under securities.
With already Coinbase’s May acquisition of Paradox, which is the decentralized cryptocurrency exchange and Toshi, which is the Coinbase’s native Ethereum application in the industry, many believe that the integration of other tokens will encourage the ideology of adopting the tokens.