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Comment by SCAQTony | Hacker News Reader

WhalePanda in not an economist, not a digital coin developer, nor a professional coin analyst. At his website he describes himself as: "...I’m a Belgian Brand/Online Marketing/UX consultant with a passion for Bitcoin..." https://twitter.com/WhalePanda?ref_src=twsrc%5Egoogle%7Ctwca...

Obviously partial to bitcoin but has no more "street cred" that I do: "a California fine artist, UI designer, with a passion for Ethereum."

That is to say I am using Ethereum for my art catalog or Catalogue raisonné as an ad hoc copyright tool and historical archive. What does he or most people use bitcoin for?

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I couldn't give two shits about 'who' he is; the points he makes are rock-solid. The ICOs are the only 'real' thing currently going on in the Ethereum space, and those ICOs will have costs that they actually have to pay. They are astoundingly fragile.

My best estimate is that the ICO market as a whole will have to be at least 3-4 times more successful than VCs if the house of cards is to stay standing. We're talking about a process that has to churn out unicorns to stay afloat.

Do you think smart contracts really make every business that uses them 3 to 4 times more valuable?

> That is to say I am using Ethereum for my art catalog or Catalogue raisonné as an ad hoc copyright tool and historical archive.

I honestly can't tell if you're taking the piss.

Calling Ethereum a house of cards is terribly hyperbolic but to clarify, here is what Ethereum has going for it.

These are some of the companies, banks and countries interested in the technology. J.P. Morgan Credit Suisse CME Group British Petroleum UBS ING Microsoft Thompson Reuters

Countries: Singapore Russia China

The United Nations even sent aid to 10,000 Syrian Refugees Using Ethereum Blockchain. http://www.coindesk.com/united-nations-sends-aid-to-10000-sy...

...And I am not "taking a piss" and neither are all of the above Ethereum businesses, countries and banks.

> What does he or most people use bitcoin for?

Bitcoin was ment to be money which is good in the store of value part. Etherum has a higher inflation for all I know, and it is not primarily meant to be money.

He also pulled off an insider trading stunt with the Monero maintainer. I'm not sure why people listen to this dude

I assume you're referring to Fluffy's announcement stunt?

There is neither evidence, nor motive, for "insider trading".

All he did was troll the moneychanging/parasite class, which is a beautiful thing.

Citation? (From curiosity, not skepticism.)

Edited: Ahh. Fake news announcement. http://bitsonline.com/fluffypony-speaks-troll-monero-market/

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