41 lines
1.5 KiB
Markdown
41 lines
1.5 KiB
Markdown
# Ethereum
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Ethereum is a [cryptoasset](cryptoasset.md) that extends the [bitcoin](bitcoin.md) model to allow the execution of [smart contracts](smart-contracts.md).
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## Properties
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Ethereum is not a [currency](currency.md).
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Ethereum is a [speculative](speculation.md) investment.
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Ethereum is [deflationary](deflationary.md).
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Ethereum has no [fundamental value](fundamental-value.md).
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Ethereum has no [use-value](use-value.md).
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Ethereum has no [income-cashflows](income-cashflows.md).
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Ethereum has a [present-value](present-value.md) of zero.
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Ethereum has a [terminal-value](terminal-value.md) of zero.
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Ethereum is a [greater-fool-theory](greater-fool-theory.md) asset.
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Ethereum is a form of [gambling](gambling.md).
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Ethereum is a [non-productive](productive-asset.md) investment.
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Ethereum has a negative [expected-return](expected-return.md).
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Ethereum is a [security](security.md).
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Ethereum is a [bubble](bubble.md).
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Ethereum investing is a [negative-sum game](zero-sum-game.md).
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Ethereum has a [narrative economics](../claims/narrative-economics.md) based on [technosolutionism](ideologies/technosolutionism.md), [libertarianism](ideologies/libertarianism.md), [regulatory-arbitrage](regulatory-arbitrage.md) and aspirations of [private-money](private money.md) .
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Ethereum shares a payout structure similar to a [Ponzi scheme](ponzi-scheme.md).
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Ethereum is based on an environmentally destructive [consensus algorithm](consensus-algorithm.md) known as Proof of Work [mining](mining.md). |