Hacker News new | ask | show | jobs
by kordless 3328 days ago
No sane investor is going to invest in Ethereum because that's not how Ethereum or its derivatives raise capital. The way they raise capital is by taking individual's existing irrational trust (fiat) and exchanging it for what appears to be rational computationally driven trust. Except nobody is using that computed trust for anything worthwhile (a use-case), but then they (the Ethereum fans) all spout that its "killer use-case" is trusted transactions.

This is, at best, a chicken and the egg problem, given trust is built over time by most cultures and people don't trust things they don't understand, even if those things are rational. Saying it's rational doesn't convince the group aggregate mentality (the thing that defines a killer use-case) so we sit here as individuals speculating about how great is is and they (the Ethereum group aggregate) sit here trying to convince us how great it is. By actual use adoption standards, used by VC firms to establish value, it has none.