Published On: Thu, Jan 11th, 2018

Bitcoin competitor Ethereum built on SAND: 'I don't see a business plan!' Expert's WARNING


’s competitor, ethereum, has been accused of failing to be transparent about the company’s business plan, making it impossible to be evaluated by investors. 

Speaking in an interview with CNBC, New York University professor Aswath Damodaran said: “When the evaluation time comes, some of these crypto investments are not going to hold up. 

“Right now I don’t think anybody is valuing the cryptocurrencies, they are all pricing.”

The academic was asked to give a rough estimation of the value of ethereum compared to bitcoin but he refused to do so. 

He replied: “I’ll tell you what’s holding me back, I don’t see a business model yet from ethereum. 

“They’re talking the talk but they’re not walking the walk yet.”

He added: “They’re talking about how they’re lubricants in the smart contracting business, but they’re not being lucid about the way they plan to make money in that business.

“So I can’t get ahead of them and create a business model for them, that’s not my job. 

“Until they create a business model I’m going to be holding back, but I think that that’s going to be the next phase in the crypto investment market. 

“You’re going to start seeing people pushing these crypto investments to come up with business models to show how they are going to make money.”

In an interview with Bloomberg, Ethereum’s co-founder Joseph Lubin said: “This is an incredibly exciting time, we’re about to enter into an explosive growth regime for the global economy.

“The nature of the way companies are delivering services on the internet currently, we have walled gardens, we have siloed systems.

“We have this new invention called the destruction of net neutrality which is I think going to be an interesting driver for decentralisation.”

According to Coindesk at 12:16 pm on January 11, ethereum price is $1,202.26 against bitcoin’s $13,705.82.


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