Quote from: Kellor on July 13, 2016, 06:46:44 AM

Quote from: BigSirko on July 11, 2016, 06:24:02 PM

Quote from: bbc.reporter on July 07, 2016, 07:22:08 AM

Sooner or later they will reach a breaking point. In 2 - 3 years I think some of them would have to dump if no bank or company uses the Ethereum blockchain. We've seen this happen to NXT, Bitshares plus others. They just fell from the top 10 at coinmarketcap.

Ethereum has made regular disingenuous claims just like NXT and Bitshares did. I agree with your assessment where Ethereum will fall from the top 10. If you trust serial liars then you're asking for your money to be stolen.

- Vitalik Buterin claiming he would write his own programming language from scratch, which he has yet to do and never mind it took languages like Java 10+ years to work out the bugs and train developers.
- Ethereum spammed about IBM Adept, but Paul Brody has left IBM and Project Adept has been canned (AFAIK).
- Dapps was spammed like the second coming of Jesus, but it all amounted to illegal gambling apps and the internet is already full of them with millions of users and there's no reason for those users to go to Dapps.
- "Smart Contracts", more like "Smart Theft", which put $150 million at risk.

The red flags were present in Ethereum before launch. Some Blog Editor who was passed off as a programming prodigy (when all he had were media connections, at best). PhD Philosophy founder whose prior employment was a bankrupt DJ sound company. Other staff at Ethereum, according to their linkedin, hadn't work a day since DotCom...

Call it what you want, whether it is hype or scam, but Ethereum is just plain bad.

The red flags were there before the launch, why did people invest it. Also why do miners still securing the network?

I did mention some pre-launch stuff but there is more. They actually had a first IPO based out of Canada and it was shut down within days - whether by themselves or the legal authorities is uncertain. It's a red flag if they had rehost an IPO oversea and hide behind subsidiaries.

Why do people invest in it? Are you certain it was many? Vitalik's blog detailed the top 100 addresses owned nearly half of the IPO money and addresses are not people. Ethereum had backing of some Bitcoin whales and Bitcoin media (Vitalik was the editor for Bitcoin Magazine), a pretty good combination if you want to ICO / pump something into the stratosphere.