Ethereum faces criticism for its premine, where 72M ETH (65% of the initial supply) was pre-allocated to founders, developers, and early investors before public access, raising concerns over centralization and fairness.

Its 2015 ICO model, while innovative, inspired speculative investments and fraudulent projects. High gas fees, scalability issues, and reliance on complex smart contracts have also drawn scrutiny.

Additionally, cloud mining scams and Ponzi schemes linked to Ethereum damage its reputation. Despite these concerns, supporters highlight its innovation in smart contracts and decentralized applications.

The debate largely depends on views about fairness, decentralization, and trust.

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