Yeah, the fact that ethereum smart contracts have been hacked twice does not inspire confidence. Especially since in both cases core ethereum developers have been involved - if they can't get a smart contract right, who can? The way the handled the first hack (ie. the rollback hardfork that resulted in ETC) makes matters event worst imo. What's the value of a blockchain that simply gets rolled back by its developers on the first signs of trouble?
Well, I certainly agree with that
But, on the other hand, isn't that exactly what banks at lower levels and governments at higher levels do on virtually a daily basis? If banks don't like your transaction, they can easily cancel or even revert it (at least, as long as the monies stay in the system). It is essentially the same with governments and Central banks which can and sometimes do actually cancel the whole money systems declaring them null and void. So, if we see the same process in some cryptocoin, it won't be trusted any more than banks are, but banks and governments still manage to enjoy some trust anyway, no matter what they do to undermine or hurt it
I think the main difference is that traditional banks and governments never claimed to be anything else. We know that they are in control, and they know that we know.
Cryptocurrencies by their very nature try to get rid of central control. So if one fails to follow that principle (looking at you ETH), it's only natural to get critical about said currency. Not that it gets reflected in ETHs price, mind you. If people actually gave a damn, the market situation of ETH and ETC would be reversed. It's almost as if the majority of people don't actually care for trustlessnes and decentralization ¯\_(ツ)_/¯
I'm not Ethereum, so don't look up at me
Other than that, that's what I've been telling myself for ages. The only thing that the majority of people actually care for are sheer profits. And that's not bad if you start to think of it. It prevents Bitcoin and its so-called community (in real life, a loosely knit group of committed speculators and die-hard profiteers) from turning into a sort of sect. Not being a sect allows Bitcoin to remain real and not run dry, so to speak. Ironically, Ethereum's Witnesses look more like a sect who easily accept rollbacks, drawbacks as well as other humiliations and perversions. In fact, they are a sect or cult in their own right
