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> Because an ICO can be created at no cost Except the cost to the participants who later have wasted money because the ICO contract was exploitable... At the
by KirinDave 9y ago
> Because an ICO can be created at no cost
Except the cost to the participants who later have wasted money because the ICO contract was exploitable...
At the current rate major losses are as perceptible as all successes. Maybe the industry needs some externally imposed speed bumps from SOME authority until folks can get their acts in gear?
- DennisP 9y agoI doubt the SEC is a good fit for improving smart contract security.
- saosebastiao 9y agoI'd trust the SEC that one other agency capable of doing so. The SEC actually has a ton of technically capable people who understand and audit technology...they do as much for e-brokers, stock exchanges, high frequency traders, etc. The only other agency capable of doing so would probably stockpile the exploits and use them to surveil the dark web to catch a million drug dealers and an occasional low level disposable terrorist.
- maneesh 9y agoCan you show me the losses vs successes?
- KirinDave 9y agoI actually cannot name any successes, I looked for a few moments. I presume they exist. For those thinking I am glib and downvoting, I am asking: Do you know of any? I searched, asked some friends in etherium. I presume they must exist in some for as we're no longer early-days with Etherium.
- deleted 9y ago[deleted]
- deleted 9y ago[deleted]
- Romanulus 9y ago... and currency can be created at the cost of the future unborn generations. Your move, KirinDave.
- KirinDave 9y agoI do not understand. Sorry.
- dnautics 9y agoHe's talking about how the government systematically Rob's from the future through inflation - in particular hurting the poor the hardest and creating lost decades and millennials along the way.
- KirinDave 9y ago> He's talking about how the government systematically Rob's from the future through inflation ... What? Wait... what? I'm actually more confused by your response. So, the idea is governments create inflation to... rob the poor? Also, who's Rob? > in particular hurting the poor the hardest and creating lost decades and millennials along the way Are you implying that millennials have... the government to blame for their current grim prospects in the job market? Because of inflation?
- dnautics 9y agoNo, governments create inflation to satisfy an illusion of control and stability over the economy, and a side effect is robbing the poor (and giving to the rich). Think about it:. If you're poor and spending 90% of income on survival, an increase in the cost of living has a more dramatic effect on the margin of survival than the identical increase in cost of living for someone who depends on 20% of their income. Moreover, it's frequently said that inflation is necessary to combat 'sticky wages'... If you read between the lines, that's effectively 'cheating the poor of their wages'. The common retort is that the inflation is good for the poor because it reduces the real value of their debt. But in the real world outside the ivory tower of economists who never were actually poor, the poor are offered high interest loans, which are only barely ameliorated by inflation. People who benefit from low interest rates are corporate C-levels, banks, and leveraged an margin investment (which is most of the "1%"