[tisFine]

Crypto would be more interesting if the networks offered federated compute capabilities.

Owning crypto would be akin to owning a certain amount of capacity to use the network to do work.

Similar to land to farm or build housing on. A foundation to build applications on.

As is it’s just another shiny thing to convert to real currency.

Also, keep in mind Barry Diller is hardly a non-biased voice.

Edit: My bad; I mean if the crypto traders saw it as more than a casino chip to trade for cash.

[randomhodler84]

That is the EVM (Eth, Bsc, Matic) model (spend token as gas to pay for transactions). The EOS model requires staking tokens for CPU and Network, and you must buy RAM (which is account storage) on the open market.

You have described the economic model of smart contract platform cryptocurrencies.

Even Nakamoto chains work the same way, you require previous UTXOs (unspent transaction output) in order to pay the fee to spend them. Owning bitcoin is the right to spend it, and hopefully all the fees required in order to spend it.

[pc2g4d]

Is Ethereum not this?

[lxgr]

There might be some interesting applications, but wouldn't all those applications be fully out in the open, both code and data?

Zero-knowledge proofs and whitebox cryptography can probably help, but both are a far cry from general purpose computing / programming models.