According to BlockBeats, Péter Szilágyi, the lead developer of Geth at the Ethereum Foundation, expressed his frustration with the cryptocurrency industry on social media. Szilágyi questioned whether he had chosen the wrong field, comparing the progress made by companies like SpaceX to the perceived stagnation in the crypto sector. He noted that while SpaceX's successes and failures both contribute to human advancement, the crypto industry often seems like a casino for fools, with price fluctuations leading to either extravagant purchases or financial ruin, without any meaningful contribution to humanity.

Szilágyi acknowledged that building a new monetary system takes time but questioned why the industry couldn't focus on creating something useful in the meantime. He criticized the tendency of individuals in the crypto space to aspire to be the next Vitalik Buterin, the co-founder of Ethereum, rather than working on practical innovations. He expressed skepticism about the industry's sustainability, suggesting that it has primarily been a massive value transfer without substantial value creation.

He argued that making a fortune through luck and then investing in non-crypto projects does not count as a success story for the crypto industry. Instead, it is merely a tale of a fortunate philanthropist or a diversified investor. Szilágyi called for the industry to start creating genuinely useful products that people want to use, or else face the possibility of collapse. He conceded that Bitcoin has at least attempted, albeit unsuccessfully, to become a safe-haven asset, while other projects seem to be selling tools without any real gold rush in sight.