Myles Danielsen: Other projects certainly offer more upside potential, but the risk-adjusted opportunity of Ethereum seems particularly compelling relative to both the rest of crypto and other asset classes globally. At present, Ethereum appears to offer the model set-up of all of investing: long-term secular tailwinds, near-term catalysts, and... See more

Fundamentally, I consider ETH to derive most of its value from being a global, permissionless store of value, and while it is engaging to discuss the value accrual story as it relates to scaling of the ecosystem, long-term user and developer growth should take precedent over short-term focus on token mechanics. The rollup-centric roadmap makes a... See more

One valuation approach that has been making its rounds through Crypto Twitter is a Discounted Cash Flow analysis that calculates the present value of future cash flows of the Ethereum network. While this clever approach may be attractive to people with TradFi backgrounds (i.e. recovering investment bankers like me!), I see a few key issues with... See more