"Smart contracts" (public finance bots) are basically Ponzi-as-a-Service. Someon... | Hacker News

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floatboth on May 31, 2021 | parent | context | favorite | on: It's time for us in the tech world to speak out ab...

"Smart contracts" (public finance bots) are basically Ponzi-as-a-Service. Someone launched an explicit "PonziCoin" on ETH even.

"It's just overtaken" is not a great take. The problems are way more fundamental – the whole concept of trustless irreversible digital cash just does not work in the real world for normal transactions.

ahallock on May 31, 2021 [–]

> Someone launched an explicit "PonziCoin" on ETH even

Lots of meme coins have launched -- does not delegitimize everything else.

> ...whole concept of trustless irreversible digital cash just does not work in the real world for normal transactions

Layers will be built on top to provide that. Your vision is limited.

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