Vitalik Buterin at meeting in Russia: best statements

Vitalik Buterin at meeting in Skolkovo, Russia: here are some of Ethereum founder's statements
31 August 2017   2374

On August 31st, Vitalik Buterin, the founder of Ethereum, hosted an "Open conversation with Vitalik Buterin" in Skolkovo techonopark in Russia.

Vitalik Buterin in Skolkovo, Russia, 2017 image credit: Elena Balbekova

Here is some of the most vivid statements made by a "crypto god".

Early years

  • Vitalik didn't much like it in the kindergarten. Everyone was sitting in a circle, while he was crawling. Sitting was too boring. 
  • When he was 6 y.o., Buterin knew 20 digits after the comma of the number pi (now knows 100) as he learned it by heart instead of Pushkin's poems.
  • Buterin's parents forced him to play the piano and the viola and track his trainings. Well, sometimes he lied.
  • His favourite subject in school was maths. 
  • Vitalik has always been into computers. Thus, he started with the excel and began to program the computer games for himself.

Bitcoin

  • For the first time Buterin heard about Bitcoin from his father. Vitalik thought that it was an interesting thing, a currency that was not controlled by any state. However, he decided that there was nothing interesting about it, as virtual numbers should not have any value. Vitalik speculated that this project would not go anywhere and forgot about it for a month.
  • Then Buterin finally decided to try to earn some Bitkoins. He found a man who paid him 5 Bitkoins for the articles for his blog. Thus, Buterin earned 20 Bitcoins and spent 8.2 of them on a T-shirt.

Ethereum

  • The idea of creating his own project came to Buterin bit by bit. The man realized that he spent 30 hours per week on Bitcoin projects. Thus, he decided to dedicate all his time to do it and left the university. He travelled around the world a lot.
  • The things began in Israel: there was the greatest community. People understood both maths and cryptography and they realized that the blockchain was not only for cryptocurrency, but also for other projects (digital assets, financial contracts, crowdfunding).
  • Thus, there were two projects in Israel concerning blockchain for other applications, but Buterin realized that their use was limited. That was the moment when he realized that you can make your blockchain with a built-in programming language. He made a whitepaper and distributed it among his friends.
  • According to Vitalik, he was the man who thought that this (Ethereum project) was impossible, as no one else had done it before and there had to be a reason for it. Ethereum founder was convinced of this for at least 2 months.
  • The first client to pay attention to the platform was IBM with its project Adept, who chose Ethereum platform.

...to be continued: fake death, the DAO, blockchain adaptation at the state level, Vladimir Putin. 

SEC to Accuse Shopin in $42M Worth ICO Scam

The Commission believes the actions of Shopic during the ICO was the offering or unregistered securities
12 December 2019   92

The U.S. Securities and Exchange Commission (SEC) has accused Shopin and its CEO Eran Eyal of cryptocurrency cheating on investors during the initial offer of $ 42 million tokens.

According to the SEC, the actions of Eyal and his company were an unregistered offer of securities in the form of Shopin tokens.

Eyal told investors that the funds raised would be used to create a blockchain platform for storing and tracking profiles of online store customers. In addition, he lied about existing partnerships with retailers, the agency said.

The problem is that Shopin never created a system, says the regulator.

Instead, Eyal appropriated more than $ 500,000 for personal use, including a dating service.

SEC accused Eyal and Shopin of violating securities laws. The regulator requested the court to oblige the accused to return the illegally appropriated funds with interest and payment of fines. In addition, the SEC has proposed banning Eyalu from acting as an official in any offer of securities or tokens.

In a statement, the SEC also recalled that the prosecutor’s office in 2018 accused Eyal of appropriating $ 600 thousand of investor funds to his previous company Springleap.