Hacker News new | ask | show | jobs
by ohnomrbill 3626 days ago
Yep - I don't see the draw for new investors now. We know they will rollback contracts that are financially damaging enough, except with ETH there is no legal recourse in the case of disputed transactions. From the outside looking in, it just seems like a generally worse traditional currency.
2 comments

It requires consensus in the chain to make such a fork. While you can argue against raw direct democracy of hash power like that, anyone who believes the state does not represent the will of the people should be strongly interested in something like Eth where the will of the majority is absolute.
Agreed on the consensus; the nice thing about making decisions with a currency is that people can vote with their money. But I can buy other state-backed currencies today, some of which I trust to represent my interests. They have the benefit of an established legal system too, which Ethereum does not.
Stop investing in cryptocurrencies. Ethereum is a platform that gives developers incredible power to facilitate social and economic coordination. It's not about providing a better currency.