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> The idea of a "code is law" sort of system is that code could be developed to deal with the myriad adversarial situations in far more efficient and predictab
by smallnamespace 10y ago
>
The idea of a "code is law" sort of system is that code could be developed to deal with the myriad adversarial situations in far more efficient and predictable ways than the way humans have historically dealt with them.
Then this debacle has been a spectacular failure on that front, and given the fact that no system can be perfectly secure, this will happen again in the future.
- pash 10y agoEveryone in the space who was paying attention knew the DAO was likely to be a debacle, which is a major secondary reason that many people opposed forking to save it. This is what moral hazard looks like in the world of cryptographic "smart contracts".
- grandalf 10y ago> This is what moral hazard looks Yes, and I would have hoped/expected the curators of the Ethereum ecosystem to have greater respect for moral hazard.