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I love that Smart Contracts act basically as bug bounties to make the Ethereum systems, community knowledge, and open contracts improve dramatically.

dragontamer 10y ago
I love how law and court systems are basically bug bounties on legal systems, community knowledge, and social constructs. Society will inevitably improve dramatically. Oh wait, no. We just turned programmers into politicians and lawyers. I think more people will be pissed when they find out that "trust in the system" ultimately means "trust the writer of the smart contract". Unlike law, which has admitted that insane things happen and provides "emergency stops" (ie: Supreme Court can say whatever the heck they want and provide a check against any of Congress's laws)... there isn't really a way to add human "emergency stops" to the equation of Ethereum.
- endergen 10y ago
  I hear your sentiment. But not your argument as much. Politicians and Lawyers are inherently > smart contract writers? 'I think more people will be pissed when they find out that "trust in the system" ultimately means "trust the writer of the smart contract".' How is this different than not trusting Lawyers? 'Unlike law, which has admitted that insane things happen and provides "emergency stops" (ie: Supreme Court can say whatever the heck they want and provide a check against any of Congress's laws)... there isn't really a way to add human "emergency stops" to the equation of Ethereum.' Agreed on using Ethereum contracts anytime in the near future (or ever) for anything life or death or over exposing your self financially is insane. There are plenty of cases that are a better fit for a smart contract system. People should invest affordable proportions of their money.
verbify 10y ago
Except that once theere's a lot of money in smart contracts, people will hack the contracts without letting people know. Somebody's going to complain about "losing all their money in a contract and they don't know why" but they'll be ignored as technically ignorant and in the meantime, the thief will walk with lots of money.

dragontamer 10y ago

I love how law and court systems are basically bug bounties on legal systems, community knowledge, and social constructs. Society will inevitably improve dramatically. Oh wait, no. We just turned programmers into politicians and lawyers. I think more people will be pissed when they find out that "trust in the system" ultimately means "trust the writer of the smart contract". Unlike law, which has admitted that insane things happen and provides "emergency stops" (ie: Supreme Court can say whatever the heck they want and provide a check against any of Congress's laws)... there isn't really a way to add human "emergency stops" to the equation of Ethereum.

endergen 10y ago
I hear your sentiment. But not your argument as much. Politicians and Lawyers are inherently > smart contract writers? 'I think more people will be pissed when they find out that "trust in the system" ultimately means "trust the writer of the smart contract".' How is this different than not trusting Lawyers? 'Unlike law, which has admitted that insane things happen and provides "emergency stops" (ie: Supreme Court can say whatever the heck they want and provide a check against any of Congress's laws)... there isn't really a way to add human "emergency stops" to the equation of Ethereum.' Agreed on using Ethereum contracts anytime in the near future (or ever) for anything life or death or over exposing your self financially is insane. There are plenty of cases that are a better fit for a smart contract system. People should invest affordable proportions of their money.

verbify 10y ago

Except that once theere's a lot of money in smart contracts, people will hack the contracts without letting people know. Somebody's going to complain about "losing all their money in a contract and they don't know why" but they'll be ignored as technically ignorant and in the meantime, the thief will walk with lots of money.