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How could you possibly sue someone for double spending on a blockchain? I don't get it, isn't the point of this blockchain stuff to be the wild west? What is th
by tree_of_item 9y ago
How could you possibly sue someone for double spending on a blockchain? I don't get it, isn't the point of this blockchain stuff to be the wild west? What is the grounds for a lawsuit? Why would a 51% attack be illegal? "Code is law", right?
- gizmo686 9y agoFraud. If I agree to buy $100,000 worth of bitcoin from you, and you take my money without giving me the bitcoins you engaged in fraud and are liable to be sued. The fact that you did this through a double spend attack demonstrates a clear intent to defraud me.
- Sir_Substance 9y ago>I don't get it, isn't the point of this blockchain stuff to be the wild west? I guarantee you no judge in the world is going to accept that interpretation. >"Code is law", right? From a legal perspective, obviously not, and given how well accepted the etherium hard fork was in the wake of the DOA smart contract being exploited, you can be pretty sure that a large percentage of the crypto-user population doesn't think so either.
- cies 9y agoCardano is speaking out in favour of "code is law". Not sure what they do when faced with an actual catastrophy. There are others also taking this stance to some extend. Anyway, Cardano is cool (Haskell, PoS, lots of papers published)
- em3rgent0rdr 9y ago"isn't the point of this blockchain stuff to be the wild west?" Not necessarily. Even in an "Code is law" society, there could be some code/law specifically addressing 51% double spending attacks.