“The blockchain space is getting to the point where there’s a ceiling in sight. If you talk to the average educated person at this point, they probably have heard of blockchain at least once. There isn’t an opportunity for yet another 1,000-times growth in anything in the space anymore,” Buterin said at the Ethereum Industry Summit conference in Hong Kong in a Sept. 8.
According to Buterin, growth in Bitcoin and other cryptocurrencies in 2017 and previous six or seven years was dependent on marketing and trying to get wider adoption. Today, this strategy is getting close to hitting a dead end, he said.