Investors who purchased Ether credits from Ethereum were in fact purchasing what amounts to equity in the Ethereum company.
If there was any doubt that this was illegal they went to great effort to create a Swiss company and then immediately dissolve it.
Kraken and the CEO Jesse Powell are accessories after the fact.
The whole project should be looked at by SEC
https://en.wikipedia.org/wiki/List_of_highest_funded_crowdfu...
$18,439,086 raised, yet no legal company exists, no filling were made, the programmers all have Eastern european names and everything in shrouded in mystery
but at least there is as sleek webpage to sucker people in like has happened with Stellar (how is that getting on?)
That's so financial advice, coming from the CEO of the Kraken exchange.
But as far as Ethereum itself being a scam... They raised money to produce a product and they've produced it. It's real. It exists. They've done what they said they would do. Whether it was worth the amount raised or not is fairly irrelevant at this point. They've delivered on what they promised.
The other day, there was a post on HN about a 'simple' example Ethereum contract, but it turned out to rely on lots of validators and oracles that 'would exist in the future'.
So, it's not clear to me that they've delivered on their grandiose promises yet.
That's at best a borderline slur and you don't need it to make your point.
HN is an international site, and nobody here deserves to be categorized based on their name.