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Ethereum’s Vitalik Buterin is tired of hearing that “degen casino” is the best market fit for crypto, expressing frustration over the industry’s narrow focus.
Amid growing concerns about Ethereum‘s direction, co-founder Vitalik Buterin expressed frustration with claims that its model isn’t the best fit for the market, especially as it struggles to compete with the “degen casino” appeal drawing retail interest.
Fighting consumes energy and brings people to the breaking point. This is part of the condition of life.
Do I feel good when I hear people from crypto twitter and VC firms telling me that PvP KOL degen casino that’s money-losing for >99% of its own users is the best product…
— vitalik.eth (@VitalikButerin) February 6, 2025
In an X post, Buterin expressed frustration with comments from some in the crypto community and from venture capitalists, who argue that the “PvP KOL degen casino” model — profitable for only a small percentage of users — is the best product-market fit for crypto. He called these views “condescending and elitist” and while acknowledging the emotional toll such remarks take, he emphasized that he’s still fully committed to Ethereum’s long-term goals.
“No, I do not feel good at all hearing these things. There are even times when they make me feel emotional desire to quit.”
Vitalik Buterin
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The Ethereum Foundation’s been getting some heat lately for selling off big chunks of Ethereum (ETH) with little explanation. One sale that caught attention involved swapping 100 ETH for stablecoins, right after a prominent figure in the Ethereum ecosystem tried to defend the sales, calling them a solid example of how the foundation actually uses ETH.
Despite the backlash, Buterin stood by Ethereum’s approach, pushing back against calls for a leadership change at the foundation. He also addressed the accusations of centralization, stating that “the future of the world computer is decentralized.”
Read more: Ethereum lags even as derivative traders bet big on ETH rally, is return to $4,500 likely?
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