> These are the big known-unknowns. It's the big unknown-unknowns that are the problem. Is there a relatively simple implementation bug that hasn't yet been d

> These are the big known-unknowns. It's the big unknown-unknowns that are the problem. Is there a relatively simple implementation bug that hasn't yet been discovered in the biggest projects? They're all less than 12 years old at this point, it's entirely probable that they include 0-day vulnerabilities that are undiscovered. That's enough to destroy the whole thing. One single 0-day, exploited slowly over the course of a week. It's not like the transactions can be reversed, so all of that value would have been reassigned to the exploiter. No government is insuring balances in any of these projects - so a single shock will (rightly) shake all of these holders back out again.