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One thing in particular I dislike about this is that the author lumps all crypto currency into the same bucket. As the prime example of this, ethereum and Bitc

One thing in particular I dislike about this is that the author lumps all crypto currency into the same bucket. As the prime example of this, ethereum and Bitcoin could not be more different. Work done by groups such as 0x mean that these regulations can be enforced by public contacts. Sure, there is more work to be done, but the potential is to create decentralised exchanges that are safer and easier to regulate than existing Fiat exchanges. Bitcoin's recent price has been crazy even for crypto, but it is short sighted to lump all crypto currencies into the same bucket. This is a fast evolving field, lessons are being learned and better and better implementations are being built.

ufo 9y ago
Public contracts can't regulate USD trading though.
- wheelerwj 9y ago
  yes they can. written properly and with the right data, a smart contract can be very effective.
  - ac29 9y ago
    It doesn't matter how well a contract is written, if it comes into violation of US securities laws or other rules and regulations, it will be a problem in the US. I'd expect the number of crypto-related prosecutions to rise exponentially in the US as crypto markets have heated up. The various regulatory and law enforcement agencies generally work slowly, but they do work.
davidgerard 9y ago
In practical terms, the main point of interest in Ethereum is the price of Ether. The prime "decentralised" exchange is EtherDelta, which is completely decentralised except the absolute decentralisation of the website (deployable only as 2MB of minified JavaScript with the original source unavailable). I wrote about how well this approach works: https://davidgerard.co.uk/blockchain/2017/09/28/etherdelta-hack-malicious-javascript-in-a-contract-name-stealing-the-users-key/ https://davidgerard.co.uk/blockchain/2017/09/28/etherdelta-h... How decentralised can you make your "decentralised" exchange? There's not much point to "a bit decentralised".

ufo 9y ago

Public contracts can't regulate USD trading though.

wheelerwj 9y ago
yes they can. written properly and with the right data, a smart contract can be very effective.
- ac29 9y ago
  It doesn't matter how well a contract is written, if it comes into violation of US securities laws or other rules and regulations, it will be a problem in the US. I'd expect the number of crypto-related prosecutions to rise exponentially in the US as crypto markets have heated up. The various regulatory and law enforcement agencies generally work slowly, but they do work.

davidgerard 9y ago

In practical terms, the main point of interest in Ethereum is the price of Ether. The prime "decentralised" exchange is EtherDelta, which is completely decentralised except the absolute decentralisation of the website (deployable only as 2MB of minified JavaScript with the original source unavailable). I wrote about how well this approach works: https://davidgerard.co.uk/blockchain/2017/09/28/etherdelta-hack-malicious-javascript-in-a-contract-name-stealing-the-users-key/ https://davidgerard.co.uk/blockchain/2017/09/28/etherdelta-h... How decentralised can you make your "decentralised" exchange? There's not much point to "a bit decentralised".