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by jkhdigital
2404 days ago
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"a blockchain for general purpose computing" is precisely the problem. Nobody wanted or needed that. Bitcoin was created as digital money. A bunch of people mistakenly thought that the best "feature" of Bitcoin was its programmability, and doubled down on that by allowing arbitrary computations in transactions, which just opened up the Pandora's Box of attack vectors. And you can't really say "Ethereum is one of the good ones" if it literally enabled the wholesale defrauding of billions of dollars from ill-informed speculators by providing the platform for those fraudulent ICOs. |
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I'm sure everybody just wanted a faster horse, but I certainly do have some good uses for distributed computing (with a larger bandwidth than Ethereum can provide, though). And any new tech can be seen as the "Pandora's Box of attack vectors" and a fraud platform, including the internet itself.
Not every experiment is a scam.