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> Ethereum seems to benefit from having a figure like Vitalik who can act as a Torvalds-esque figurehead If Vitalik got hit by a bus tomorrow Ether price would

by nope96 9y ago

> Ethereum seems to benefit from having a figure like Vitalik who can act as a Torvalds-esque figurehead If Vitalik got hit by a bus tomorrow Ether price would drop 95%. A currency does not need a leader who directs it. Also it should be very difficult to make changes to a 150 Billion $ currency.

albertgoeswoof 9y ago
I don't see Ethereum as a 150 Billion $ currency, it's more like beta software or an experiment. The learnings made now could shape the future of tech, so it should be easy to make changes to.
sambe 9y ago
It's cryptocurrency. Someone is leading the crypto part (also: smart contracts etc. etc.). You could even argue that traditional currencies to have a leader - those maintaining the fiat.
charlesdm 9y ago
Ethereum is not a currency though. It's a decentralised platform to build apps on, like the App Store. ETH is the oil that pays for the decentralised processing resources used by said apps that are run on the platform. A platform that isn't finished needs a leader, and I would say Ethereum needs a leader a lot more than Bitcoin. If all development on Bitcoin would stop tomorrow, it would still keep running and have a potential future as digital gold. If all development on Ethereum would stop tomorrow, it would most likely fail as a project. The value proposition is very different. Also, since oil isn't very useful without something to use it in (a car, plane, other use cases), it actually makes perfect sense (to me). ETH could very well also become a functional currency once the supply gets capped in a future hard fork. But for now, it's more oil than currency.
Certhas 9y ago
The talk by Lagarde [1] recently convinced me that we're ahead of a threshold where some blockchain technology will get some sort of mainstream backing and actually break through[2]. This could be some central bank for example. Between ETH and BTC I think ETH has a better shot at being at the core of that, unless the Bus accident actually happens. [1] https://www.imf.org/en/News/Articles/2017/09/28/sp092917-central-banking-and-fintech-a-brave-new-world https://www.imf.org/en/News/Articles/2017/09/28/sp092917-cen... [2] And break through means: I can realistically get rid of my Visa card and use blockchain tech for day to day transactions at many stores.

by nope96 9y ago

albertgoeswoof 9y ago

I don't see Ethereum as a 150 Billion $ currency, it's more like beta software or an experiment. The learnings made now could shape the future of tech, so it should be easy to make changes to.

sambe 9y ago

It's cryptocurrency. Someone is leading the crypto part (also: smart contracts etc. etc.). You could even argue that traditional currencies to have a leader - those maintaining the fiat.

charlesdm 9y ago

Ethereum is not a currency though. It's a decentralised platform to build apps on, like the App Store. ETH is the oil that pays for the decentralised processing resources used by said apps that are run on the platform. A platform that isn't finished needs a leader, and I would say Ethereum needs a leader a lot more than Bitcoin. If all development on Bitcoin would stop tomorrow, it would still keep running and have a potential future as digital gold. If all development on Ethereum would stop tomorrow, it would most likely fail as a project. The value proposition is very different. Also, since oil isn't very useful without something to use it in (a car, plane, other use cases), it actually makes perfect sense (to me). ETH could very well also become a functional currency once the supply gets capped in a future hard fork. But for now, it's more oil than currency.

Certhas 9y ago

The talk by Lagarde [1] recently convinced me that we're ahead of a threshold where some blockchain technology will get some sort of mainstream backing and actually break through[2]. This could be some central bank for example. Between ETH and BTC I think ETH has a better shot at being at the core of that, unless the Bus accident actually happens. [1] https://www.imf.org/en/News/Articles/2017/09/28/sp092917-central-banking-and-fintech-a-brave-new-world https://www.imf.org/en/News/Articles/2017/09/28/sp092917-cen... [2] And break through means: I can realistically get rid of my Visa card and use blockchain tech for day to day transactions at many stores.