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Comment by hanniabu | Hacker News Reader

> for almost all crypto (maybe excepting Bitcoin), it is driven by speculation with limited usage in legal markets and dominant usage in illegal markets

Uhhhh, what? The coin that isn't used for anything besides speculation is the one you think isn't? How are you going to say that Ethereum, which beats bitcoin in most metrics and has tons of uses and potential is more speculative?

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Ethereum has a value equal to roughly GM, Ford and Toyota combined. Probably as much as AWS despite the fact that no large company I know of runs their company on Ethereum. The largest things on Ethereum are things like Uniswap which facilities speculation on Ethereum...hehe. What happens to the world if Ethereum disappears? I don't think it misses much of a beat. Ethereum does have "tons of uses and potential"...but it's still just that, and it could be displaced.

>speculation on Ethereum

Speculation on Ethereum is becoming.. well speculation in general. You can speculate on near-anything at this point (commodities, synthetic stocks, crypto, nfts, prediction market outcomes etc.)

No company runs on ETH... lol. I'm sure the private VCs invested in thousands of projects (like Uniswap, Maker, etc.) feel exactly the same way.

Is he wrong? Name one company that runs on ETH then.

The European Investment Bank issued €100 million worth of bonds on Ethereum:

https://www.theblockcrypto.com/linked/103016/european-invest...

Uniswap, Maker, Balancer, Compound, ZapperFi, Aave, Curve, SushiSwap, Yearn, Synthetix, Alchemix, Armor, Nexus Mutual, Ribbon Finance, DYDX, Hegic + over 100 more.

You can see a full list at https://defillama.com/

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