Ethereum Core Developer: Often Doubts Whether They Have Chosen the Wrong Industry

ChainCatcher news, Ethereum Foundation member and Geth development head Péter Szilágyi posted on social media saying, "I often doubt if I have chosen the wrong industry.

Take SpaceX for example. They send rockets to Mars? That's human progress. They failed to launch a rocket and it exploded? Humanity learned a lesson and still progressed. All outcomes lead to progress.

In contrast, the crypto industry is like a casino set up for fools (apologies to the few exceptions). Prices went up? Great, when can I buy a sports car. Prices fell? Life is ruined. What contribution does this make to humanity?

Yes, establishing a new currency system indeed takes time... But in this process can't we do something useful? Everyone wants to be the next Vitalik; no one wants to build something useful; everyone just thinks about how they can extract value.

Why shouldn't this system collapse? From a macro perspective, what would we lose? So far all that the crypto industry has done is massive value transfer; I haven’t seen any substantial value creation yet.

Please note that making big money by luck then transferring funds into some non-crypto projects doesn’t count as success stories of crypto. At best it’s just successful story of lucky philanthropist or more likely simple diversified investment by an individual.

In my view, this industry should start creating truly useful things that people want to use or else it should close down altogether.

At least Bitcoin tried (though failed) becoming hedge asset but others are selling shovels with no signs of gold rush."