George Hotz Gives Stance On Ethereum, Dapps And Lightning Network

Many people will say they’re knowledgeable on the topic of computer systems, but most are wrong. It’s like being an armchair engineer, when people make opinionated guesses based on wrong or incomplete facts. That is why the opinion of a man like George Hotz, AKA “Geohotz”, is so important. Not only did he single handedly hack the firmware of the Playstation 3, subsequently getting sued by Sony for it, but he was also the first to unlock the original Apple iPhone. While being sued by Sony, he thought to try his luck as a prolific rapper but ended up only releasing one single.

Because of his reputation, his opinion on distributed systems and cryptocurrencies is regarded as valuable. It’s an honest opinion of a man who is outside the cryptocurrency circle, but that has ample experience in dealing with computer systems. That is why CoinSpice’s own, Hayden Otto, had to ask some questions about George’s stance on cryptocurrencies during the BCHDEVCON hackathon in San Francisco. Luckily, George is a very straightforward man and answered every question with utmost joy.

George first cleared the field by saying that he was a no-coiner and he held no coins. Nonetheless, he likes the tech and read Ethereum’s Geth for entertainment. He shamelessly said that Ethereum was a bug bounty, in the sense that by finding vulnerabilities in “smart” contracts, you could get paid without infringing the law. This is because the contract would be fulfilled like normal.

About the Ethereum scaling issues, he talked about CryptoKitties clogging the blockchain and stated that:

“The truth is that nobody uses any Dapps for anything”

He complained about Bitcoin fees telling that he had to pay $17 for a transaction at a point and he’ll never forget it. After which he summarized that Lightning Network seemed complicated to him, in a “won’t work” way. He likes forks because of the greedy duplicity of blockchains, and he also likes prizes in a tongue-in-cheek manner. A great casual talk with Geohotz, hacker and retired rapper.