Focus on technology, not price

[ad_1]

Ethereum co-founder Vitalik Buterin shared some sound advice for traders feeling the crypto bear market blues: Focus on technology instead of price.

The Ethereum co-founder made the recommendation in response to a December 3 post from self-proclaimed crypto investor CoinMamba, echoing how many crypto investors are likely feeling right now.

After 9 years in crypto, I’m a bit exhausted. I want to move on and do something different with my life. Tired of all these scammers and fraudsters..

CoinMamba (@coinmamba) December 3, 2022

After 9 years in crypto, I’m a bit exhausted. I want to move on and do something different with my life. Tired of all these scammers and fraudsters, said CoinMamba.

The crypto industry has continued to be bombarded with unsavory news since the collapse of FTX and the resulting contagion, which crypto exchange BlockFi recently claimed.

BNB blockchain-based decentralized finance (DeFi) protocol Ankr recently confirmed that it was hit by a multimillion-dollar exploit on December 1.

Even before that, hackers had already been responsible for stealing more than $2.98 billion worth of digital assets in 2022, according to statistics from blockchain security firm PeckShield.

Much of it came from the Ronin Bridge exploit, which resulted in the theft of $625 million worth of crypto assets in March.

However, to combat all the negativity, Buterin suggests stepping away from trading and investing circles and, instead, moving closer to the tech and app ecosystem.

I recommend you step away from trading/investment circles and get closer to the tech and app ecosystem, he said.

Learn about ZK-SNARKs, visit a meetup in Latin America, listen to calls from All Core Devs, and read the notes until you’ve memorized all the EIP numbers he added.

Ether bull and The Daily Gwei host Anthony Sassano agreed, saying the bear market is a great time to move away from market watching and learn more about technology.

Much more signal than noise (especially in the Ethereum ecosystem) and the technology side is much more exciting than the markets anyway.

Ethereum has given investors a lot to focus on this year, with the completion of the long-awaited merger on September 15, which saw the network move from a proof-of-work consensus to a proof-of-stake consensus ( PoS).

Buterin then added a new category of milestones to the Ethereum technical roadmap, which aims to improve censorship resistance and decentralization of the Ethereum network.

Being there for the technology is already an important and positive cultural pivot, compared to being there for the price movements, Buterin said in his recent Twitter post.

Related: Vitalik Buterin Offers Crypto Lessons Following FTX Collapse

In November, Buterin told Bloomberg that the collapse of crypto exchange FTX had brought lessons for the entire crypto ecosystem.

He called the collapse of FTX a huge tragedy, but also noted that the problem was with people, not technology, adding that the underlying stability of the distributed ledger and the technology that powers the asset economy cryptographic have not been questioned.

[ad_2]