what's up with the ETH? why this pump?
"Because tens/hundreds of thousands, perhaps millions of smart contracts are being created by mega corporations and elite financial institutions all across the world using Ethereum's exclusive, bleeding edge smart contract technology!"-said no one ever
To be fair, I don't think Ethereum ever targeted mega corporations or elite financial institutions with those.
Even worse. Smart contracts from Average Joe's mom's basement then?
Small to mid sized businesses I would guess.
So let's go down this rabbit hole. Reality and truth are buried deep somewhere down there.
How many small businesses? 10? 20?
And for what specific use case? A smart contract that did what exactly? Give example.
And for what benefit would this have for the small business to do this outside of the legal system?
Would this smart contract even be legally defensible in court in such case of a dispute? What if there is no legal recourse? Who would take that risk if it wasn't?
And what ROI benefit would there be that would justify buying ETH at $400+ to make this smart contract happen?
People that want to believe the ETH hype really need to walk through a few "theoretical use cases" of ETH smart contracts to even see if any of it makes any sense whatsoever, from a legal perspective, risk perspective, ROI perspective, etc., etc.
And it's not clear that the Ethereum blockchain or its tokens (as ETH traded on the exchanges) is even needed for 'smart contracts' functionality.