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I think of it this way: - Every system will be gamed, no exceptions. - It is impossible for the architects of any system to imagine all the ways it will be ga
by api 6y ago
I think of it this way:
- Every system will be gamed, no exceptions.
- It is impossible for the architects of any system to imagine all the ways it will be gamed.
That's why it's not possible to create fixed laws that are just. Inevitably someone will find a hack that turns the intent of the law around while remaining true to its letter.
This seems to be what dooms both pure libertarian capitalist schemes and pure socialist command economy schemes. In the former case there is not enough structure to contain exploits and no recourse when someone finds a good scam. In the latter case it's impossible for central planners to imagine the results of their plans when they are exposed to opportunistic economic agents. The fatal flaw in both ideologies is their dogmatism. It causes them to fail to adapt when flaws and exploits in the rule system are inevitably found.
- packetlost 6y agoAny political or economic system built on the expectation that people won't be assholes to each other (and work with others to be assholes) is a flawed system.
- dmitriid 6y agoEthereum is also built on the assumption that: - people aren't assholes - all involved parties can audit blockchain transactions - all involved parties are programmers and can audit a contract written in an esoteric programming language - all involved parties voluntarily agree to be bound by these contracts despite the fact there's no way they can be enforced
- kgin 6y ago> all involved parties voluntarily agree to be bound by these contracts despite the fact there's no way they can be enforced Maybe I'm misunderstanding, but I don't think ETH contracts count on humans doing anything.
- kristianov 6y agoAll useful contracts in real world are dependent on humans, unless the machines can make and deliver a pizza, with extra cheese and no pineapples.
- cannabis_sam 6y agoNo, there are completely mechanical contracts being executed every day.
- dmitriid 6y agoIf you "don't have humans doing anything", then Ethereum is just a very slow and inefficient API and protocol layer. However, if you want to use services or exchange goods, then people are involved. A simple example: person A requests goods or services from person B. According to Ethereum website, "Customers have a secure, built-in guarantee that funds will only change hands if you provide what was agreed." Person B provides goods/services. Person A says no goods or services were provided. The assumed guarantees turn out to be fiction. Here's a real world example. A typical contract between a supplier and a chain store common in many parts of the world goes something like this: - supplier provides goods on a continuous basis - the chain store pays for goods once every three months In the real world this contract is enforceable by, well, centralised laws of the respective countries. If the chain store reneges on payment, it can be taken to court and forced to pay. In case of "smart" contracts, well, keep sending goods for three months in the hope that you get paid.
- kgin 6y agoAs far as I understand it, that's not the sort of thing Ethereum contracts would cover. The contract is just an computer agreement between trustless systems to run code. Vitalik Buterin has said he regrets the term "smart contracts" because of the usual meaning of the word contracts: https://twitter.com/VitalikButerin/status/1051160932699770882?s=20 https://twitter.com/VitalikButerin/status/105116093269977088... > To be clear, at this point I quite regret adopting the term "smart contracts". I should have called them something more boring and technical, perhaps something like "persistent scripts". > I do think that persistent scripts controlling assets compete with the legal system on some margins, but so do locks on doors. So IMO it's wrong to equate them with a specific philosophy of law privatization.