It’s supposed that Fred Wilson, co-founder and managing associate at Union Square Ventures, may upset because of his former favourites in the crypto field: Ethereum.
In 2017 Wilson announced that Ether is going to transcend the price of BTC by the end of that year. But as we all know now it never did and has largely unperformed Bitcoin, losing around 23% from the end of May 2017 to present time. This can be compared to a more than 350% increase for BTC over the same period, as to the information provided by crypto analysis organisation Messari Inc.
Yesterday in his blog Fred Wilson published that Ethereum confused him. “It has revealed the way to various significant things; smart contracts, potentially PoS, programmable trust-free computing, and a lot more. But it continues to be difficult to develop on, scaling problems overflow, and many programmers are watching elsewhere”, he wrote.
Wilson cited multiple success points in the crypto market presently. Further, he mentioned a downbeat in the post. He wrote that some projects were delayed and that there was a rare mass appropriation of crypto as a common payment method.
“Right now, there is lots of failure in crypto and it's simple to bearish. I'm a positivist. I'm persuaded that many of these obstacles are going to be defeated in the following several years”, he wrote.
“I'm long crypto and USV is long crypto. And we're placing more resources into the sphere and will proceed to do so. But it's not without risks and difficulties. It's full of them”, he added.