Fred Wilson on Ethereum
Ethereum is a Turing-Complete cryptocurrency that serves as a platform for programmable smart contracts.
Ethereum reviews by Fred Wilson
All Ethereum reviews by expert Fred Wilson.
If all of us who own Ethereum could go to [Vitalik Buterin] and say, “Look, this thing you got in Switzerland is not working. Fire these fuckers who don't know what the hell they're doing, and put someone great in there who could build this thing into a monster”—then that's what we would do. There's no mechanism to do that, and that's painful—just sitting here, holding that asset and watching them whittle the value of the asset away.Full review
If someone were to ask what the most successful startups of this decade are, the answer would likely be Snap (market cap $22bn). Uber and Airbnb might also be on the list although those companies were launched in the prior decade (2009 and 2008 respectively).
If anything, ETH is an even more impressive story [compared to Bitcoin]. In less than two years (Ethereum was initially released in July 2015), it has gone from zero to a market cap of $3.4bn.
And anyone located anywhere in the world can invest in these decentralized startups and profit from them, unlike the traditional startups.Full review
[Immutability vs. adaptability] is now at the center of the Bitcoin vs. Ethereum competition for the hearts and minds of developers. I believe the Bitcoin core developers have more or less landed on immutability, and Ethereum core developers are very much into adaptability. It may be that it is useful to have two significant, liquid, and highly capitalized public blockchains: one that is immutable (think of gold) and one that is adaptable (think of the dollar).
There was a time when I was a Bitcoin absolutist. That changed a while ago, and I now believe that we are going to have multiple blockchains, multiple currencies, and a ton of app tokens, some with their own blockchains, some built on top of Bitcoin or Ethereum.Full review
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