Ethereum is and has always been the toy of Vitalik Buterin and his cronies. They control roughly 64% of all ETH. Everyone else is just share cropping suckers.
From what I've read and heard of Vitalik Buterin, he seems most unlikely to have "cronies". The reason Charles Hoskinson left the Ethereum Foundation is that Vitalik wanted it to be non-profit, whilst Charles wanted it to be commercial / for-profit.
Most of what I've heard of Vitalik paints him as having a saint-like aura (my own admittedly hyperbolic description). But then maybe we'd all appear that way if we had $billion resources at hand...
Vitalik is a saint in comparison to Hoskinson, but that doesn't mean Ethereum is sound money. It is what it is; lots of good innovation there, but sound money, it is not.
None of the cryptos are sound money ("money not liable to sudden appreciation or depreciation in value") except stablecoins on Ethereum. Bitcoin can easily lose 80% of its value in a month and no one would be surprised. Bitcoin is the biggest speculative bubble of all time. It absolutely has no utility (imagine if Bitcoin disappeared now - what would the world lose?).
Bitcoin can be sound money after the price stabilizes, which will probably take decades if it ever happens. Nothing else in the world ever could be sound money except commodity money, like gold, but I'd argue that bitcoin is better.
> Ethereum is and has always been the toy of Vitalik Buterin and his cronies. They control roughly 64% of all ETH. Everyone else is just share cropping suckers.
But they told me crypto would free us from centralized control! /s
