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That this gets upvoted to #2 speaks poorly of HN. Why on earth are we still talking about the DAO? This is a collection of tired, irrelevant arguments that enti

That this gets upvoted to #2 speaks poorly of HN. Why on earth are we still talking about the DAO? This is a collection of tired, irrelevant arguments that entirely ignores product-market fit and a large, vibrant community of developers. [edit] ah, of course. a bitcoin maximalist. how dare there be an alternative use-case for crypto that involves people using it. the thing bitcoin has going for it is a large community of peripheral people believing it will be the global reserve currency (it wont).

dcow 5y ago
Uhmm.. what product market fit? And why is proof of steak good?
- darthrupert 5y ago
  I prefer, nay, demand proof of cake!
- BLKNSLVR 5y ago
  Proof-of-steak is quite satisfying to pass. And since I'm committing to this literal shitpost, the proof-of-steak misspelling is entirely appropriate to the amount of salt in the article.
- deleted 5y ago
  [deleted]
- TimJRobinson 5y ago
  $100B+ invested across hundreds of decentralized apps, with exponential user growth, is absolutely product market fit - https://defillama.com/chains https://defillama.com/chains
  - arcturus17 5y ago
    Nothing about that says product-market fit beyond the speculative use case - which I would agree does show spectacular product-market fit since it is proven there are tons of people willing to speculate and crypto provides an asset class with attributes that people are really craving (poor regulation, high risk and volatility, etc.)
deleted 5y ago
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javert 5y ago
That is just an emotionalistic assertion. You aren't interacting with the actual content of the article.
- cliftonk 5y ago
  It's literally the exact same arguments from 3 years ago. 3 years ago there were very few real apps/users on ethereum. At that time, ether was mostly a pet rock like bitcoin with smart contracts attached. That's simply not true anymore. There is ether (the asset) and etheriumn (the chain), while usage of the latter accrues value to the former, the latter is what's important (and not the former). All that matters for these platforms is usage. There are other good level 1's with traction from users/developers (terra/solana specifically). The idea that there's going to be only 1 blockchain for value transmission or that users really care about highly technical points about decentralization are laughable. People care about the apps, use-cases, and [jpegs of rocks](https://opensea.io/ https://opensea.io/).
nootropicat 5y ago
There are enough bitcoin maximalists afraid of ethereum to upvote this. They know very well that eth flipping btc is the 'emperor's has no clothes' moment - instantly all memes about btc being a store of value, 'hard money' and similar turn into jokes, and what remains is btc itself: an unbacked inflationary coin, in which the only way to make money is at the expense of someone else. At this point, the only thing that can stop the flippening after the merge is a government ban that specifically impacts ethereum (like they tried with the PoW-only exemption amendment).

dcow 5y ago

Uhmm.. what product market fit? And why is proof of steak good?

darthrupert 5y ago
I prefer, nay, demand proof of cake!
BLKNSLVR 5y ago
Proof-of-steak is quite satisfying to pass. And since I'm committing to this literal shitpost, the proof-of-steak misspelling is entirely appropriate to the amount of salt in the article.
deleted 5y ago
[deleted]
TimJRobinson 5y ago
$100B+ invested across hundreds of decentralized apps, with exponential user growth, is absolutely product market fit - https://defillama.com/chains https://defillama.com/chains
- arcturus17 5y ago
  Nothing about that says product-market fit beyond the speculative use case - which I would agree does show spectacular product-market fit since it is proven there are tons of people willing to speculate and crypto provides an asset class with attributes that people are really craving (poor regulation, high risk and volatility, etc.)

deleted 5y ago

[deleted]

javert 5y ago

That is just an emotionalistic assertion. You aren't interacting with the actual content of the article.

cliftonk 5y ago
It's literally the exact same arguments from 3 years ago. 3 years ago there were very few real apps/users on ethereum. At that time, ether was mostly a pet rock like bitcoin with smart contracts attached. That's simply not true anymore. There is ether (the asset) and etheriumn (the chain), while usage of the latter accrues value to the former, the latter is what's important (and not the former). All that matters for these platforms is usage. There are other good level 1's with traction from users/developers (terra/solana specifically). The idea that there's going to be only 1 blockchain for value transmission or that users really care about highly technical points about decentralization are laughable. People care about the apps, use-cases, and [jpegs of rocks](https://opensea.io/ https://opensea.io/).

nootropicat 5y ago

There are enough bitcoin maximalists afraid of ethereum to upvote this. They know very well that eth flipping btc is the 'emperor's has no clothes' moment - instantly all memes about btc being a store of value, 'hard money' and similar turn into jokes, and what remains is btc itself: an unbacked inflationary coin, in which the only way to make money is at the expense of someone else. At this point, the only thing that can stop the flippening after the merge is a government ban that specifically impacts ethereum (like they tried with the PoW-only exemption amendment).