The difference is that the US would not do that in response to a speculative dump. With ETH, the system stops working and everything breaks without a HF. So it’s valuable because it’s valuable.
If the company pivoted to a different business, it would likely violate securities laws. Corporate governance is in place to stop that from happening.
US taking away all property rights is significantly less likely than an ETH hard fork. Hard forks have happened.
Ecosystem is getting smaller because everyone knows there are currently no useful DeFi projects. ETH is failing to pump again so this is the peak of network security.
Bitcoin is also a memecoin for the same reason, but at least it’s a credibly neutral memecoin unlike ETH.
Ethereum would not stop working just due to a price crash. It would get cheaper for an attacker to purchase majority stake, but good luck purchasing that much without making the price go back up.
If the company pivoted to a different business, it would likely violate securities laws. Corporate governance is in place to stop that from happening.
US taking away all property rights is significantly less likely than an ETH hard fork. Hard forks have happened.
Ecosystem is getting smaller because everyone knows there are currently no useful DeFi projects. ETH is failing to pump again so this is the peak of network security.
Bitcoin is also a memecoin for the same reason, but at least it’s a credibly neutral memecoin unlike ETH.