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Nothing. Ethereum/DAO/blockchain's main differentiator is its purported immutability. Tired of traditional actors setting the rules of your financial system? L

Nothing. Ethereum/DAO/blockchain's main differentiator is its purported immutability. Tired of traditional actors setting the rules of your financial system? Let some "smarter" more "neutral" hackers set those rules for you in stone cold code. Discard the DAO and start anew from first principles, but make it clear and transparent that the code is written by humans that can also change that code, and that it's not a magic immutable "distributed autonomous organization" but a collection of dudes on their computers who tinker with the rules of one big excel spreadsheet. Different dudes than the ones who currently control the markets. Tell me why I should trust these new dudes to have enough gravitas to run a more efficient market.

cel1ne 10y ago
> who tinker with the rules of one big excel spreadsheet Thank you for that comparison. The whole issue is much more palpable if you forget about the magic blockchain for a second and see Ethereum as what it is: A giant complex calculation that nobody comprehends to it's full extent. Just like most computer-programs out there. And just like the financial market. We engineers have learned that we can't rely on complex apparatuses always behaving according to our intentions. So the way to go is to ensure they fail gracefully. When it comes to law, the real world did this, not by trying to find the perfect, unambiguous, immutable language for contracts and law. (Ever heard about the 'Tower of Babel'? The idea of a common language is as old as humanity). They did it by implementing safe-guards, namely the juridicial system. When it comes to the financial market, we too have safeguards, but not that many. There is no judge who is able to rule that an individual was not supposed to make billions of dollars by destroying the environment and evading taxes. A humanitarian society doesn't work out by just following a set of more and more complex rules. You always need humans to interpret and adapt them.

cel1ne 10y ago

> who tinker with the rules of one big excel spreadsheet Thank you for that comparison. The whole issue is much more palpable if you forget about the magic blockchain for a second and see Ethereum as what it is: A giant complex calculation that nobody comprehends to it's full extent. Just like most computer-programs out there. And just like the financial market. We engineers have learned that we can't rely on complex apparatuses always behaving according to our intentions. So the way to go is to ensure they fail gracefully. When it comes to law, the real world did this, not by trying to find the perfect, unambiguous, immutable language for contracts and law. (Ever heard about the 'Tower of Babel'? The idea of a common language is as old as humanity). They did it by implementing safe-guards, namely the juridicial system. When it comes to the financial market, we too have safeguards, but not that many. There is no judge who is able to rule that an individual was not supposed to make billions of dollars by destroying the environment and evading taxes. A humanitarian society doesn't work out by just following a set of more and more complex rules. You always need humans to interpret and adapt them.