What do you mean by failing many times?
If you mean the scams (phishing, fraudulent crowdsales etc) and hacks, in my opinion it is not ETH fault.
Ethereum created an easy way to create different tokens, so the ICO fever began, but hackers and phishing scams would exist with or without ETH, and the projects trying to make good use of it shoudn't pay for acts of criminals.
There have been scams, hacking and other frauds with Bitcoin as well. But I don't think people see it as "failures" as Bitcoin stoop up again stronger.
I also don't agree with the "projects asking money from the masses" part, because ICOs are still very inaccessible to 99% of the population. People that fall for phishing scams or sent ETH to an ICO for a project that will never be developed are trying to achieve quick profits and have at least a minor knowledge to manage their own wallets and find out about the ICOs. I am very sorry for them and I know that I could be deceived as well, but it is not like Vitalik and team are in front of churches trying to rip off money from some old innocent people.
So, I see your point, but I have a different opinion and I am still supporting Ethereum as I strongly believe in the technology.
If you mean the scams (phishing, fraudulent crowdsales etc) and hacks, in my opinion it is not ETH fault.
Ethereum created an easy way to create different tokens, so the ICO fever began, but hackers and phishing scams would exist with or without ETH, and the projects trying to make good use of it shoudn't pay for acts of criminals.
There have been scams, hacking and other frauds with Bitcoin as well. But I don't think people see it as "failures" as Bitcoin stoop up again stronger.
I also don't agree with the "projects asking money from the masses" part, because ICOs are still very inaccessible to 99% of the population. People that fall for phishing scams or sent ETH to an ICO for a project that will never be developed are trying to achieve quick profits and have at least a minor knowledge to manage their own wallets and find out about the ICOs. I am very sorry for them and I know that I could be deceived as well, but it is not like Vitalik and team are in front of churches trying to rip off money from some old innocent people.
So, I see your point, but I have a different opinion and I am still supporting Ethereum as I strongly believe in the technology.
I totally agree with your opinion. If an ICO of type ERC20 does a scam, it does not mean ethereum also does a scam. If many altcoins are scammers, will the bitcoin initiate creating payments with the blockchain system also be blamed? I do not think so. Ethereum is a very smart ecosystem. I think Vitalik create something very nice, it's just that someone is abusing it
