This is part two of a four part post highlighting golden nuggets from "Own The Internet - A Bull Case For Ethereum" on Zerohedge.com authored by Packy McCormick via NotBoring.com (Paraphrase, commentary, embellishments and musings by Boston C!)
Let's, for a moment...
"understand why Ethereum will survive and adoption will grow, how it actually makes money, and the differences between ETH and a tech stock."
"For ETH to be worth something, and for the bull case to matter, Ethereum needs to survive and grow. It has faced early challenges and competition from purpose-built blockchains."
...and again, let's
"understand why Ethereum isn’t going to die."
"Ethereum is the Excel of Blockchains"
"If you’re going to be bullish on Ethereum, imagine and believe it will be around for a long time, and that more people will continue to use it, as well as other people believing those things to be true."
Let's compare it to Bitcoin...
"Bitcoin is like a database. That’s what a blockchain is -- a distributed ledger of transactions. The Bitcoin blockchain lets people send each other bitcoin (BTC) and tracks who owns which bitcoin at any given time. It can also reward people for securing the database by giving them BTC for turning electricity into solutions to math problems (Proof of Work or PoW). It does one thing really well: track ownership of bitcoin.
Bitcoin is kind of like a spreadsheet, and many people compare blockchains to spreadsheets, but that’s not what I mean when I say that Ethereum is like Excel. I mean that the same elements that have propelled Excel for nearly four decades are present in Ethereum, too.
It starts with flexibility. Ethereum is a Turing complete, programmable blockchain that lets anyone build full-blown applications using smart contracts. People can build all sorts of decentralized apps (dApps) on top of Ethereum, plugging into the blockchain and the surrounding ecosystem to provide everything from security to identity to payments. Decentralized Finance (DeFi) apps, NFT marketplaces, Decentralized Autonomous Organizations (DAOs), and games and virtual worlds can all be built on top of Ethereum, all fueled by the native currency, ETH.
That flexibility is really hard to do. If there is a core product design lesson to learn from Excel, it’s that combining usability with flexibility is both incredibly difficult and incredibly rewarding….
A design principle for developers is to make any one piece of software really good at one specific thing, deliberately constraining its capabilities to a specific domain. Excel is a truly remarkable exception to this rule - it is something of a choose-a-phone, and clearly hundreds of millions of people compose for it and it will be the same for ETH in the future."