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Bitcoin’s competitor, ethereum, has been accused of failing to be transparent about the company’s business plan, making it impossible to be evaluated by investors. Speaking in an interview with CNBC, New York University professor Aswath Damodaran said: “When the evaluation time comes, some of these crypto investments are not going to hold up. “Right now I don’t think anybody is valuing the cryptocurrencies, they are all pricing.”

GETTY•CNBC Bitcoin competitor Ethereum cannot be valued as the company failed to show a business model

The academic was asked to give a rough estimation of the value of ethereum compared to bitcoin but he refused to do so. He replied: “I’ll tell you what’s holding me back, I don’t see a business model yet from ethereum. “They’re talking the talk but they’re not walking the walk yet.”

I don’t see a business model yet from ethereum, they’re talking the talk but they’re not walking the walk Aswath Damodaran

He added: “They’re talking about how they’re lubricants in the smart contracting business, but they’re not being lucid about the way they plan to make money in that business. “So I can’t get ahead of them and create a business model for them, that’s not my job. “Until they create a business model I’m going to be holding back, but I think that that’s going to be the next phase in the crypto investment market. “You’re going to start seeing people pushing these crypto investments to come up with business models to show how they are going to make money.”

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