[gregjor]

The so-called “global computer” runs on the internet, and the nodes are just servers. Blockchains built on top of the available substrate cannot be somehow more capable, stable, reliable, or persistent than what they run on.

Software bugs are a fact of life. But if my bank makes an error I have recourse. If my debit card is stolen I’m protected. Wells Fargo may be greedy and corrupt, but it’s not a Ponzi scheme, and they can’t rugpull and disappear with depositor accounts.

[tornato7]

By that argument then no software can ever be innovative because it all runs on Turing-complete computers that could have done that already.

[gregjor]

Refuctio ad absurdum. The internet is already a “global computer” that can store programs indefinitely and run them based on triggers and schedules. Calling the Ethereum blockchain a “global computer” and scripts “smart contracts” gives the appearance of innovation without any actual innovation. The main contribution of blockchain/crypto so far is ridiculous energy consumption and enabling crime and fraud. In terms of software development or computer science there’s no innovation, just claims of innovation hiding behind buzzwords and hype.