Co-founder of Ethereum warns that cryptocurrencies “could drop to near-zero at any time”

Co-founder of Ethereum and co-founder of Bitcoin Magazine, Vitalik Buterin, warned that cryptocurrencies “could drop to near zero at any time.”

He also warned people not to put in “more money than you can afford to lose”.

The 24-year old who founded the second largest cryptocurrency in the world said in a tweet on Saturday, February 18:

“Reminder: cryptocurrencies are still a new and hyper-volatile asset class, and could drop to near-zero at any time. Don’t put in more money than you can afford to lose. If you’re trying to figure out where to store your life savings, traditional assets are still your safest bet.”

Vitalik Buterin is a Russian-Canadian programmer, credited with helping invent Ethereum which is described as a “decentralised mining network and software development platform rolled into one”.

Vitalik wants to “deliver value” that matches “the hype”

Vitalik recently became involved in the creation of a fund for projects called the Ethereum Community Fund (ECF).

According to Coindesk, the fund is a collaboration between Cosmos, Golem, Global Blockchain Labs, Maker, OmiseGo, Raiden and Tendermint.

Vitalik Buterin said in a statement:

“Ethereum has grown beyond my expectations over the last few years, but the work is clearly not finished.”

He added:

“Delivering value that matches the hype should be the mantra of 2018; efforts such as the ECF which help organize the development of the ecosystem are going to help make that possible.”

Video – What is a cryptocurrency?