3 ms·

From the intro: >Etheropt has no owner. Its entire operation is described and executed by an Ethereum smart contract.

• jboggan 11y ago
  That smart contract was written by a person and they should realize that there might be legal repercussions in the US at least. I have a great interest in this space (I started a failed cryptocurrency options exchange myself) and I hope that it blossoms. I would like to see regular puts and calls instead of binary options, the latter is ill-suited for hedging and really just a speculative instrument.
  • GigabyteCoin 11y ago
    >That smart contract was written by a person and they should realize that there might be legal repercussions in the US at least. Satoshi Nakamoto created the world's most powerful cryptocurrency and nobody knows anything about that person or group, remember.
    • s_q_b 11y ago
      Nakamoto took careful steps to hide his identity. The creators of Ethereum have not. That said, this is one of those "holy shit" moments for me. Once a DAC is running, there isn't a damn thing a government can do about it. Or even its creator. It's like a creature let loose in the wild, or a virus with a checkbook. The mind reels at the possibilities.
  • amazon_not 11y ago
    Isn't this limited to binary options because binary options have a set price and payout? Regular puts and calls have a potentially unlimited payout which means the seller would have to put up some serious collateral and/or hedge their exposure. If nothing else, I'd figure that would add some complexity and/or counterparty risk. I'm not well versed in these matters, so perhaps you could enlighten me.
  • jhildings 11y ago
    How would they prove that a certain person wrote it ? And also, what if someone publish the code of someone else, who is responsible then ?