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Zoom and Netflix both lost 60-80% of their value in the last year and I don't see anyone declaring them dead. I don't work in crypto but I think there's a bit o

Zoom and Netflix both lost 60-80% of their value in the last year and I don't see anyone declaring them dead. I don't work in crypto but I think there's a bit of a knee jerk reaction to seeing all the vaporware projects being wiped out (rightfully so). Consolidation and pruning of wasteful projects is good. If you feel like the work you're personally doing is positive, then don't worry about people dancing on the graves of LUNA and Celsius. ETH is still a legitimate technology with real use cases.

Thlom 4y ago
ETH has been a legitimate technology with real use cases for a decade now and all we’ve got is jpeg’s of apes. With the amount of real money, talent and hard work being pumped into this space we should have seen the use cases materialize by now. But there’s nothing. I’m sure someone uses it for something real, but I haven’t seen crypto actually solve a real problem any better than a plain old database. Please correct me if I’m wrong,
- heckerhut 4y ago
  - MauroIksem 4y ago
    People like you are exactly the problem..provide a real use case where crypto and Blockchain have revolutionized something and then talk. You can't seem to do that.
    - rglullis 4y ago
      Blockchain tech does not need to "revolutionize" anything. It just needs to be useful for (some) people in any of the cases where the status quo fail. If 1% of the people can not use traditional banking, but they have an blockchain-based alternative, then blockchain has already justified itself.
  - aldebran 4y ago
    Relax, sir/Ma’am. The person above you isn’t playing a victim or anything of the sort. How about you provide data to prove him wrong instead of just saying he’s perpetuating a false narrative ? What big use cases do we have that are life changing for people?
  - jagtesh 4y ago
    The above commentator didn’t pretend to know anything. It’s an honest question and they asked with utmost humility. Here’s the question: what’s stopping a significant adoption of blockchain technology from a _business perspective_. I have my own take on this. It could be the increasing cost of transactions (in practice). Not indifferent from your current day financial systems, as we have inflation that causes costs to rise. Perhaps it’s the sudden rise, the volatile nature of fluctuations that make it different for crypto currencies. Perhaps the entire issue here is we measure fluctuations against fiat currency. As more businesses start to operate entirely in crypto (producers and consumers) - we may see a more stable crypto ecosystem. As for why is blockchain not gaining traction, it is somewhat related to above. Miners provide the backbone for any successful blockchain network. In a centralized system where all actors already trust the centralized authority, there is little business incentive in setting up a sophisticated ecosystem based on blockchain. I’ve heard about governments considering using blockchain based tech to thwart internal corruption (immutable public records FTW). As these systems are developed, researched and then evangelized by the likes of HBR, we’ll start to see much greater adoption in time IMO.
    - deleted 4y ago
      [deleted]
    - giaour 4y ago
      > I’ve heard about governments considering using blockchain based tech to thwart internal corruption (immutable public records FTW). During my time in government, shady contractors pitching blockchain to solve literally every problem was so common and so preposterous that it quickly became a meme. "Immuatble public records" was a common claim, but "blockchain" isn't fundamentally different from a git repository in this regard. If all you need is a replicated merkle tree, we have easier and more efficient ways of doing that.
      - jagtesh 4y ago
        You’re on point except for one big difference: a block chain is distributed. I don’t think it is foolproof, as no tech really is. But the concept seems to significantly raise the cost and complexity of an attack to compromise it. The simplest way I can imagine doing it is - spoofing network requests from the party trying to verify something, or routing that request to a compromised node. I will make a guess that networking equipment in a govt. setting can protect against a low level attack. Disclaimer: I take a passive interest in this space but have never studied or implemented a block-chain application.
  - brellish 4y ago
    Your angry comment is a sadly typical reaction of a cult member having their beliefs challenged.
    - jakupovic 4y ago
      Nor does your comment provide any value.
  - chris_wot 4y ago
    This reply is the sort of thing you get when asking legitimate questions about crypto. Defensive, abusive responses to legitimate questions. Even the response here is amazing: it is “I know all about cryotocurrencies, you don’t know anything! How dare you ask impertinent questions!” Next thing you know, many of the same people want to know why you aren’t investing in cryotocurrencies.
- olalonde 4y ago
  Use case: decentralized, censorship-resistant, programmable money. Sorry if it takes more than a decade to disrupt the most entrenched and powerful status quo on earth. Personally, I never thought it would come this far so quickly, and am quite happy with the pace of adoption and progress.
  - martin_a 4y ago
    > decentralized, censorship-resistant, programmable money accepted by nobody who has something valuable to offer
    - jakupovic 4y ago
      Still has you talking about it. So, you must in theory accept it if you talk about it. My friend that's logic at play :)
  - mmcnl 4y ago
    A very important part of any use case is that you clearly define a goal. What is the goal of "decentralized, censorship-resistant, programmable money"? These are crypto invented words that have no meaning outside of the crypto ecosystem.
    - TingPing 4y ago
      An unregulated market where consumers can be exploited.
    - olalonde 4y ago
      That's incorrect. Decoupling money from the government is a goal that predates crypto by quite a bit[0][1]. For most people in the first world, cryptocurrency is not an app that will instantly make your life better like Airbnb or Uber. It's a lot more deep and abstract than that. The idea is to separate money from the government. If you don't value financial privacy or don't think the government's ability to arbitrarily inflate the money supply is problematic, it's going to be hard to convince you. How would you respond to someone in China asking: "How does free speech make my life better?" or "How does democracy make my life better?". It's not really a question that can be easily answered with an elevator pitch. [0] https://en.wikipedia.org/wiki/Criticism_of_the_Federal_Reserve https://en.wikipedia.org/wiki/Criticism_of_the_Federal_Reser... [1] https://wtfhappenedin1971.com/ https://wtfhappenedin1971.com/
- mudrockbestgirl 4y ago
  It's an alternative financial system with many of the same (and some different) primitives than the existing ones: Liquidity via AMMs (instead of human or HFT MMs), derivatives, loans, yields, fixed-rate instruments, etc. These are used in the same way the equivalents in TradFi are used, just implemented differently, permissionless and with an API. I believe that many people don't understand the traditional financial world or how any of the above are useful. They want to see something like Twitter on the Blockchain because that's what they can wrap their head around. That's why so many people in the crypto space come from a more traditional finance background. They understand how the above instruments are crucial for an economy even though they are not end-user products like Twitter is. They are one layer below that. Also, the decade argument is misleading in the case of Ethereum. It's true that ETH itself has been around for a while, but DeFi with sufficient liquidity has really only been a thing for 2-3 years and has made quite rapid progress since then.
  - eulenteufel 4y ago
    >They understand how the above instruments are crucial for an economy even though they are not end-user products like Twitter is. Do they actually know these instruments are crucial for the economy or do they just know how to make money with it? I'd think the latter would be enough. Can you recommmend any resources to understand the importance of financial instruments to the economy?
    - jakupovic 4y ago
      >Do they actually know these instruments are crucial for the economy or do they just know how to make money with it? I'd think the latter would be enough. There is no difference in capitalism between something being "crucial" for economy or just a way "to make money." They are equivalent.
      - eulenteufel 4y ago
        That's hard for me to understand. I'd take 'crucial to the enconomy' to mean 'positively coupled to the rest of the economy' or 'the rest of the economy would be worse off/less efficient if this financial instrument were to be outlawed. Why does this follow from 'makes a lot of money'? That seems like a very complicated question to me.
- ETH_start 4y ago
  ETH launched in 2015, which is 7 years ago, and has been working through fundamental limitations of the technology, building out the technological primitives that will enable mass-consumer blockchain applications in the future. A list of areas where Ethereum has made huge progress: * building secure smart contracts - more sophisticated auditing programmes by more experienced companies, improvements in programming languages, including Solidity, and improvements in formal verification techiques, have reduced the prevalence of major hacks of blue chip smart contracts significantly since 2015 * enabling privacy with public validation. Zk-SNARK and other zkp based mixers have gone from theory to reality with the launches of Tornado Cash, the AZTEC Network, and CAPE. * Protocol fine-tuning, like the implementation of EIP1559, to improve fee predictability * The creation of a Proof of Stake consensus protocol that maintains the same decentralization of Proof of Work, while providing a given level of security at a much lower economic cost * Scalability technologies like Optimistic and ZK-Rollups * Protocol upgrades like sharding to expand the capabilities of Rollups These all took time to build, and will take more time still to reach production quality, but are shaping up to provide a vastly more useful blockchain platform than what was launched in 2015.
  - thematrixturtle 4y ago
    Your bullet points list a bunch of navel-gazing crypto improvements for crypto, but the previous poster was asking for examples where "crypto actually solve[a] a real problem any better than a plain old database". Got any?
    - hirako2000 4y ago
      Be your own bank cannot be solved by a plain database, as it doesn't ship with the trustless features most blockchain networks offer. The network is there. When bitcoin came out it solved that problem but the network took years to expand enough to guarantee integrity. That's what has been happening in crypto, in the early years, network expansion, fed by speculative investment (speculation can have its merit, see). Then came more elaborated DeFI and non DeFI supporting techs. (Smart contract, faster and cheaper blocks networks for micro transactions, anonymity/privacy networks etc). Yes, business use cases continue to lag, but in a decade the progress is to me so astonishing, not so disappointing. Perhaps worth mentioning, the traditional system via, via regulators working for we know who, and massive media fear mongering is not to be ignored, the injustice will lose in the long run, but it's pretty clear it has contributed to limit adoption, hence the emergence of more concrete, useful to socity use cases, other than auto generated Punk Monkeys for degenerated moneybgrabbers.
- rqdtlk 4y ago
  You're not wrong. The entire cryprocurrency space has been a colossal waste of time and energy.
- m00dy 4y ago
  you are completely wrong. I don't want to explain other use cases here but even though for jpeg's of apes, Ethereum or blockchain industry created a more inclusive economy. (now all the artists, they know at least one more way to monetize their art.)
  - andruby 4y ago
    You don’t want to explain the other use-cases? Would you mind linking to a place that does explain them?
    - m00dy 4y ago
      DeFi has concrete use cases. Just look at how derivatives and options work in DeFi. You will see how financial products work in traditional finance. You can understand them by reading their smart contract code. Another example would be reading the code of uniswap [0]. It is a decentralized exchange in other words, it lets you exchange your value without intermediaries and a central authority by having an algorithmic pricing. (Actually, by saying algorithmic, It is actually pretty simple pricing curve :) but it works :). I hope it is clear. thank you.
      - ogogmad 4y ago
        > You will see how financial products work in traditional finance. You can understand them by reading their smart contract code. But this doesn't need DeFi. You could have open-source trading software without Ethereum.
        m00dy 4y ago
        You could have many things but practically speaking we don't have it :)
- dubswithus 4y ago
  Can you tell me a completely centralized alternative to the Brave/BAT ecosystem? Block ads, reward creators, and get paid. No big tech company is paying their users or doing machine learning locally so they “can’t be evil.”
- junofan 4y ago
  Plain old databases cut secret deals with Citadel.
  - dubswithus 4y ago
    It’s just a database. And you just got “justed.”
political12345 4y ago
I pretty much think both are dead, or to be more precise: downscaled. Netflix has been making bad woke movies for too long. If they had good content at least it would be ok, but they don't. Most people are back in the office and the competition has caught up, so what is Zoom's justification for existence? People don't seem to graps the cocept that equity prices are fair market values: the current consensus is that netflix is 80% lower than the high peak. At the height, money was free and i flation low. Now, and in the future, money will be very expensive and inflation high, so why would you hold growth stocks that also don't seem to be producing anything valuable (like netflix bad movie quality).
DyslexicAtheist 4y ago
> ETH is still a legitimate technology with real use cases. what would be an example of a real use-case that ETH does well? The core promise of ETH is smart contracts and that code is somehow "law". But that got exposed for the idiotic reasoning that it was and went out of the window when they had to hard-fork in 2017. No matter what they did since then to improve the old pre-2017 ETH nobody can tell me that bugs don't happen and if they do on this scale then human intervention in inevitable. This is however contra the promise that everything is decentralized by design and not under control of a single actor. Then there are the countless promises about its potential driven up by Gavin Wood & Vitalik Buterin that in hindsight look just like stalling for more time to ensure further funding rounds. Woods & Buterin are both scammers that extracted millions from their mark. And they were able to do so because they have the technical background to pull it off and are also slightly smarter than the average mobbed-up shit-coin peddler like Dr. Ruja Ignatova or that Australian Satoshi-cosplaying clown Craig Wright. ETH maybe hasn't been exposed as a scam yet but it is still an example of "fake it till you make it" at all cost and is in the same territorry as "Theranos", "Inventing Anna" - a series of broken promises, stalling techniques for more funding and lost egos of the founders who think of themselves as too big to fail.
- granddemolisher 4y ago
  > This is however contra the promise that everything is decentralized by design and not under control of a single actor This is still decentralized because people need to coordinate to make a change. Decentralisation doesn't mean a system without human deciding what happens. It just means decentralisation of the power between the participants and ability to enter the room without creditionalism.
  - tigershark 4y ago
    But it demonstrated beyond any reasonable doubt that code is not law since they breached that law with the hard fork.
    - barnabee 4y ago
mmcnl 4y ago
Zoom and Netflix are companies that actually produce valueable goods. Both companies have a lot of happy customers. There is a lower bound for the stock price roughly equal to the physical assets of the company. There's no such limit for crypto coins. It can go to 0. There's no reason to assume otherwise.
roflyear 4y ago
All of crypto is down that much. Not all of the stock market is. Stop comparing these things.

Thlom 4y ago

ETH has been a legitimate technology with real use cases for a decade now and all we’ve got is jpeg’s of apes. With the amount of real money, talent and hard work being pumped into this space we should have seen the use cases materialize by now. But there’s nothing. I’m sure someone uses it for something real, but I haven’t seen crypto actually solve a real problem any better than a plain old database. Please correct me if I’m wrong,

heckerhut 4y ago
- MauroIksem 4y ago
  People like you are exactly the problem..provide a real use case where crypto and Blockchain have revolutionized something and then talk. You can't seem to do that.
  - rglullis 4y ago
    Blockchain tech does not need to "revolutionize" anything. It just needs to be useful for (some) people in any of the cases where the status quo fail. If 1% of the people can not use traditional banking, but they have an blockchain-based alternative, then blockchain has already justified itself.
- aldebran 4y ago
  Relax, sir/Ma’am. The person above you isn’t playing a victim or anything of the sort. How about you provide data to prove him wrong instead of just saying he’s perpetuating a false narrative ? What big use cases do we have that are life changing for people?
- jagtesh 4y ago
  The above commentator didn’t pretend to know anything. It’s an honest question and they asked with utmost humility. Here’s the question: what’s stopping a significant adoption of blockchain technology from a _business perspective_. I have my own take on this. It could be the increasing cost of transactions (in practice). Not indifferent from your current day financial systems, as we have inflation that causes costs to rise. Perhaps it’s the sudden rise, the volatile nature of fluctuations that make it different for crypto currencies. Perhaps the entire issue here is we measure fluctuations against fiat currency. As more businesses start to operate entirely in crypto (producers and consumers) - we may see a more stable crypto ecosystem. As for why is blockchain not gaining traction, it is somewhat related to above. Miners provide the backbone for any successful blockchain network. In a centralized system where all actors already trust the centralized authority, there is little business incentive in setting up a sophisticated ecosystem based on blockchain. I’ve heard about governments considering using blockchain based tech to thwart internal corruption (immutable public records FTW). As these systems are developed, researched and then evangelized by the likes of HBR, we’ll start to see much greater adoption in time IMO.
  - deleted 4y ago
    [deleted]
  - giaour 4y ago
    > I’ve heard about governments considering using blockchain based tech to thwart internal corruption (immutable public records FTW). During my time in government, shady contractors pitching blockchain to solve literally every problem was so common and so preposterous that it quickly became a meme. "Immuatble public records" was a common claim, but "blockchain" isn't fundamentally different from a git repository in this regard. If all you need is a replicated merkle tree, we have easier and more efficient ways of doing that.
    - jagtesh 4y ago
      You’re on point except for one big difference: a block chain is distributed. I don’t think it is foolproof, as no tech really is. But the concept seems to significantly raise the cost and complexity of an attack to compromise it. The simplest way I can imagine doing it is - spoofing network requests from the party trying to verify something, or routing that request to a compromised node. I will make a guess that networking equipment in a govt. setting can protect against a low level attack. Disclaimer: I take a passive interest in this space but have never studied or implemented a block-chain application.
- brellish 4y ago
  Your angry comment is a sadly typical reaction of a cult member having their beliefs challenged.
  - jakupovic 4y ago
    Nor does your comment provide any value.
- chris_wot 4y ago
  This reply is the sort of thing you get when asking legitimate questions about crypto. Defensive, abusive responses to legitimate questions. Even the response here is amazing: it is “I know all about cryotocurrencies, you don’t know anything! How dare you ask impertinent questions!” Next thing you know, many of the same people want to know why you aren’t investing in cryotocurrencies.
olalonde 4y ago
Use case: decentralized, censorship-resistant, programmable money. Sorry if it takes more than a decade to disrupt the most entrenched and powerful status quo on earth. Personally, I never thought it would come this far so quickly, and am quite happy with the pace of adoption and progress.
- martin_a 4y ago
  > decentralized, censorship-resistant, programmable money accepted by nobody who has something valuable to offer
  - jakupovic 4y ago
    Still has you talking about it. So, you must in theory accept it if you talk about it. My friend that's logic at play :)
- mmcnl 4y ago
  A very important part of any use case is that you clearly define a goal. What is the goal of "decentralized, censorship-resistant, programmable money"? These are crypto invented words that have no meaning outside of the crypto ecosystem.
  - TingPing 4y ago
    An unregulated market where consumers can be exploited.
  - olalonde 4y ago
    That's incorrect. Decoupling money from the government is a goal that predates crypto by quite a bit[0][1]. For most people in the first world, cryptocurrency is not an app that will instantly make your life better like Airbnb or Uber. It's a lot more deep and abstract than that. The idea is to separate money from the government. If you don't value financial privacy or don't think the government's ability to arbitrarily inflate the money supply is problematic, it's going to be hard to convince you. How would you respond to someone in China asking: "How does free speech make my life better?" or "How does democracy make my life better?". It's not really a question that can be easily answered with an elevator pitch. [0] https://en.wikipedia.org/wiki/Criticism_of_the_Federal_Reserve https://en.wikipedia.org/wiki/Criticism_of_the_Federal_Reser... [1] https://wtfhappenedin1971.com/ https://wtfhappenedin1971.com/
mudrockbestgirl 4y ago
It's an alternative financial system with many of the same (and some different) primitives than the existing ones: Liquidity via AMMs (instead of human or HFT MMs), derivatives, loans, yields, fixed-rate instruments, etc. These are used in the same way the equivalents in TradFi are used, just implemented differently, permissionless and with an API. I believe that many people don't understand the traditional financial world or how any of the above are useful. They want to see something like Twitter on the Blockchain because that's what they can wrap their head around. That's why so many people in the crypto space come from a more traditional finance background. They understand how the above instruments are crucial for an economy even though they are not end-user products like Twitter is. They are one layer below that. Also, the decade argument is misleading in the case of Ethereum. It's true that ETH itself has been around for a while, but DeFi with sufficient liquidity has really only been a thing for 2-3 years and has made quite rapid progress since then.
- eulenteufel 4y ago
  >They understand how the above instruments are crucial for an economy even though they are not end-user products like Twitter is. Do they actually know these instruments are crucial for the economy or do they just know how to make money with it? I'd think the latter would be enough. Can you recommmend any resources to understand the importance of financial instruments to the economy?
  - jakupovic 4y ago
    >Do they actually know these instruments are crucial for the economy or do they just know how to make money with it? I'd think the latter would be enough. There is no difference in capitalism between something being "crucial" for economy or just a way "to make money." They are equivalent.
    - eulenteufel 4y ago
      That's hard for me to understand. I'd take 'crucial to the enconomy' to mean 'positively coupled to the rest of the economy' or 'the rest of the economy would be worse off/less efficient if this financial instrument were to be outlawed. Why does this follow from 'makes a lot of money'? That seems like a very complicated question to me.
ETH_start 4y ago
ETH launched in 2015, which is 7 years ago, and has been working through fundamental limitations of the technology, building out the technological primitives that will enable mass-consumer blockchain applications in the future. A list of areas where Ethereum has made huge progress: * building secure smart contracts - more sophisticated auditing programmes by more experienced companies, improvements in programming languages, including Solidity, and improvements in formal verification techiques, have reduced the prevalence of major hacks of blue chip smart contracts significantly since 2015 * enabling privacy with public validation. Zk-SNARK and other zkp based mixers have gone from theory to reality with the launches of Tornado Cash, the AZTEC Network, and CAPE. * Protocol fine-tuning, like the implementation of EIP1559, to improve fee predictability * The creation of a Proof of Stake consensus protocol that maintains the same decentralization of Proof of Work, while providing a given level of security at a much lower economic cost * Scalability technologies like Optimistic and ZK-Rollups * Protocol upgrades like sharding to expand the capabilities of Rollups These all took time to build, and will take more time still to reach production quality, but are shaping up to provide a vastly more useful blockchain platform than what was launched in 2015.
- thematrixturtle 4y ago
  Your bullet points list a bunch of navel-gazing crypto improvements for crypto, but the previous poster was asking for examples where "crypto actually solve[a] a real problem any better than a plain old database". Got any?
  - hirako2000 4y ago
    Be your own bank cannot be solved by a plain database, as it doesn't ship with the trustless features most blockchain networks offer. The network is there. When bitcoin came out it solved that problem but the network took years to expand enough to guarantee integrity. That's what has been happening in crypto, in the early years, network expansion, fed by speculative investment (speculation can have its merit, see). Then came more elaborated DeFI and non DeFI supporting techs. (Smart contract, faster and cheaper blocks networks for micro transactions, anonymity/privacy networks etc). Yes, business use cases continue to lag, but in a decade the progress is to me so astonishing, not so disappointing. Perhaps worth mentioning, the traditional system via, via regulators working for we know who, and massive media fear mongering is not to be ignored, the injustice will lose in the long run, but it's pretty clear it has contributed to limit adoption, hence the emergence of more concrete, useful to socity use cases, other than auto generated Punk Monkeys for degenerated moneybgrabbers.
rqdtlk 4y ago
You're not wrong. The entire cryprocurrency space has been a colossal waste of time and energy.
m00dy 4y ago
you are completely wrong. I don't want to explain other use cases here but even though for jpeg's of apes, Ethereum or blockchain industry created a more inclusive economy. (now all the artists, they know at least one more way to monetize their art.)
- andruby 4y ago
  You don’t want to explain the other use-cases? Would you mind linking to a place that does explain them?
  - m00dy 4y ago
    DeFi has concrete use cases. Just look at how derivatives and options work in DeFi. You will see how financial products work in traditional finance. You can understand them by reading their smart contract code. Another example would be reading the code of uniswap [0]. It is a decentralized exchange in other words, it lets you exchange your value without intermediaries and a central authority by having an algorithmic pricing. (Actually, by saying algorithmic, It is actually pretty simple pricing curve :) but it works :). I hope it is clear. thank you.
    - ogogmad 4y ago
      > You will see how financial products work in traditional finance. You can understand them by reading their smart contract code. But this doesn't need DeFi. You could have open-source trading software without Ethereum.
      - m00dy 4y ago
        You could have many things but practically speaking we don't have it :)
dubswithus 4y ago
Can you tell me a completely centralized alternative to the Brave/BAT ecosystem? Block ads, reward creators, and get paid. No big tech company is paying their users or doing machine learning locally so they “can’t be evil.”
junofan 4y ago
Plain old databases cut secret deals with Citadel.
- dubswithus 4y ago
  It’s just a database. And you just got “justed.”

political12345 4y ago

I pretty much think both are dead, or to be more precise: downscaled. Netflix has been making bad woke movies for too long. If they had good content at least it would be ok, but they don't. Most people are back in the office and the competition has caught up, so what is Zoom's justification for existence? People don't seem to graps the cocept that equity prices are fair market values: the current consensus is that netflix is 80% lower than the high peak. At the height, money was free and i flation low. Now, and in the future, money will be very expensive and inflation high, so why would you hold growth stocks that also don't seem to be producing anything valuable (like netflix bad movie quality).

DyslexicAtheist 4y ago

> ETH is still a legitimate technology with real use cases. what would be an example of a real use-case that ETH does well? The core promise of ETH is smart contracts and that code is somehow "law". But that got exposed for the idiotic reasoning that it was and went out of the window when they had to hard-fork in 2017. No matter what they did since then to improve the old pre-2017 ETH nobody can tell me that bugs don't happen and if they do on this scale then human intervention in inevitable. This is however contra the promise that everything is decentralized by design and not under control of a single actor. Then there are the countless promises about its potential driven up by Gavin Wood & Vitalik Buterin that in hindsight look just like stalling for more time to ensure further funding rounds. Woods & Buterin are both scammers that extracted millions from their mark. And they were able to do so because they have the technical background to pull it off and are also slightly smarter than the average mobbed-up shit-coin peddler like Dr. Ruja Ignatova or that Australian Satoshi-cosplaying clown Craig Wright. ETH maybe hasn't been exposed as a scam yet but it is still an example of "fake it till you make it" at all cost and is in the same territorry as "Theranos", "Inventing Anna" - a series of broken promises, stalling techniques for more funding and lost egos of the founders who think of themselves as too big to fail.

granddemolisher 4y ago
> This is however contra the promise that everything is decentralized by design and not under control of a single actor This is still decentralized because people need to coordinate to make a change. Decentralisation doesn't mean a system without human deciding what happens. It just means decentralisation of the power between the participants and ability to enter the room without creditionalism.
- tigershark 4y ago
  But it demonstrated beyond any reasonable doubt that code is not law since they breached that law with the hard fork.
  - barnabee 4y ago

mmcnl 4y ago

Zoom and Netflix are companies that actually produce valueable goods. Both companies have a lot of happy customers. There is a lower bound for the stock price roughly equal to the physical assets of the company. There's no such limit for crypto coins. It can go to 0. There's no reason to assume otherwise.

roflyear 4y ago

All of crypto is down that much. Not all of the stock market is. Stop comparing these things.