4 ms·

If it was Bitcoin I would say putting regulation in place made no sense. If you wanted regulated currency you could use USD, EUR and so on. As for ETH putting

by rumcajz 10y ago

If it was Bitcoin I would say putting regulation in place made no sense. If you wanted regulated currency you could use USD, EUR and so on. As for ETH putting regulation in place makes more sense. What you get is "regulated smart contracts" environment. "Fiat smart contracts" if you will. The real question then turns into: How is the regulatory authority governed? Is it a participatory democracy? A representative democracy? A dictatorship? That's not to say that there's no need platform for unregulated smart contracts as well.

mbrock 10y ago
There's no indication that the Ethereum Foundation intends to treat the platform as a regulated environment. What the fork shows is that they were willing, at least once, to launch a big effort to save one large faulty contract and its investors, in the still relatively early history of the blockchain. It seems ridiculous to think that Ethereum as a platform will have a serious system of regulation. And that's part of why this kind of one-off special case fork is so problematic.
- ThatButerinCut 10y ago
  No indication? Lol, they act like it's OK to alter the blockchain whenever they stand to lose. Regulation of eth is exactly what they are doing, and what they said they wouldn't during the premine sale. Oh then they tried to steal the coins and sell them but got caught lol! Nobody in their right mind will trust eth again, especially with the actions of the people behind it. Oh and here's some cause and effect for you, don't take my word for it, this is the internet..http://cointimes.tech/2016/08/13/ethereum-reputation-has-been-damaged-with-the-finance-and-banking-community/ http://cointimes.tech/2016/08/13/ethereum-reputation-has-bee...
  - zeven7 10y ago
    > Nobody in their right mind will trust eth again, especially with the actions of the people behind it. Let me offer some data points: https://www.reddit.com/r/ethereum/comments/4vlk4j/consensys_digix_plutus_maker_augur_string/ https://www.reddit.com/r/ethereum/comments/4vlk4j/consensys_... Projects confirmed on ETH: Ethereum Foundation, Digix, Maker, Colony, AKASHA, ROULΞTH, Plutus, REIDAO, vDice, SingularDTV, Braveno, Etheropt, otlw, Etherdelta, Swarm, Gnosis, Augur, Velocity, FreeMyVunk, RealityKeys, Golem, EOL, ConsenSys, ICONOMI, EthSlurp, Decibel.LIVE, cPay, Rex, DinarDirham, Embark, Dindle (Decentralised eBook Market), uPort Projects confirmed on ETC: Stampery, Daemon Dark Market
  - mbrock 10y ago
    What I mean is that there's no indication of a willingness to seriously regulate the platform as in setting up some kind of court and doing routine interventions. Which makes it seem a bit disingenuous to claim that Ethereum contracts are now "just like" ordinary contracts, or that Ethereum is a "regulated platform." The hard fork looks like a slightly panicked reaction to a rather extreme situation that threatened to undermine the platform in its very early days. I don't agree that "nobody in their right mind" would trust Ethereum now and we'll see how that plays out.
wyager 10y ago
If I wanted plain old human-managed contracts, I would just use the legal system. As much as I instinctively distrust the government, I trust the government to handle my contracts a lot more than I trust some random software devs who thought it was a good idea to write multi-million dollar smart contracts in a language inspired by Javascript. > "Fiat smart contracts" Isn't this just a synonym for "regular contract"?

by rumcajz 10y ago

mbrock 10y ago

There's no indication that the Ethereum Foundation intends to treat the platform as a regulated environment. What the fork shows is that they were willing, at least once, to launch a big effort to save one large faulty contract and its investors, in the still relatively early history of the blockchain. It seems ridiculous to think that Ethereum as a platform will have a serious system of regulation. And that's part of why this kind of one-off special case fork is so problematic.

ThatButerinCut 10y ago
No indication? Lol, they act like it's OK to alter the blockchain whenever they stand to lose. Regulation of eth is exactly what they are doing, and what they said they wouldn't during the premine sale. Oh then they tried to steal the coins and sell them but got caught lol! Nobody in their right mind will trust eth again, especially with the actions of the people behind it. Oh and here's some cause and effect for you, don't take my word for it, this is the internet..http://cointimes.tech/2016/08/13/ethereum-reputation-has-been-damaged-with-the-finance-and-banking-community/ http://cointimes.tech/2016/08/13/ethereum-reputation-has-bee...
- zeven7 10y ago
  > Nobody in their right mind will trust eth again, especially with the actions of the people behind it. Let me offer some data points: https://www.reddit.com/r/ethereum/comments/4vlk4j/consensys_digix_plutus_maker_augur_string/ https://www.reddit.com/r/ethereum/comments/4vlk4j/consensys_... Projects confirmed on ETH: Ethereum Foundation, Digix, Maker, Colony, AKASHA, ROULΞTH, Plutus, REIDAO, vDice, SingularDTV, Braveno, Etheropt, otlw, Etherdelta, Swarm, Gnosis, Augur, Velocity, FreeMyVunk, RealityKeys, Golem, EOL, ConsenSys, ICONOMI, EthSlurp, Decibel.LIVE, cPay, Rex, DinarDirham, Embark, Dindle (Decentralised eBook Market), uPort Projects confirmed on ETC: Stampery, Daemon Dark Market
- mbrock 10y ago
  What I mean is that there's no indication of a willingness to seriously regulate the platform as in setting up some kind of court and doing routine interventions. Which makes it seem a bit disingenuous to claim that Ethereum contracts are now "just like" ordinary contracts, or that Ethereum is a "regulated platform." The hard fork looks like a slightly panicked reaction to a rather extreme situation that threatened to undermine the platform in its very early days. I don't agree that "nobody in their right mind" would trust Ethereum now and we'll see how that plays out.

wyager 10y ago

If I wanted plain old human-managed contracts, I would just use the legal system. As much as I instinctively distrust the government, I trust the government to handle my contracts a lot more than I trust some random software devs who thought it was a good idea to write multi-million dollar smart contracts in a language inspired by Javascript. > "Fiat smart contracts" Isn't this just a synonym for "regular contract"?