3 ms·

Do ethereum and smart contracts currently have excellent customer service, such that the guy in TFA can get his 500k back?

by ljm 5y ago

spookthesunset 5y ago
Why should this person get anything back? Code is law. And if code is law all bugs are also law. The half million was a fair and just transfer. Whoever is the recipient is fully deserving both morally and ethically of their new-found wealth. If I was on the receiving end of this transaction, I’d thank the sender for the money and move on with my life. Of course I’d never be in the position to receive the funds because I’m not stupid enough to play this game—odds are very good I would be the one who sent half a million dollars by mistake! I mean, I think I’m joking but not really. If you want to practice “code is law” and really mean it, this is the kinds of stuff that will happen.
- optimalsolver 5y ago
  Code wasn't law when Ethereum foundation insiders stood to lose a fortune in the DAO hack.
capableweb 5y ago
The one who has the private keys to that account could give them the ETH back, yeah. But if no one has the private keys, they can not get it back, that would defeat the entire point of cryptocurrencies in the first place.
- tetsujinnn 5y ago
  There are two types of accounts in Ethereum, externally owned accounts (EOA) and contracts. EOA are controlled by private keys where contracts are not. Since the user sent ETH to a contract, he cannot get his ETH back if the contract does not have a method to transfer ETH back. Whereas if he sent ETH to an EOA then the user of that account can send him back ETH.
- beefield 5y ago
  But of course they can - if they are the right persons, that is. (See DAO hack. Of course, that did defeat the whole purpose of smart contracts but nobody was willing to notice.)
  - Sebb767 5y ago
    > See DAO hack. Of course, that did defeat the whole purpose of smart contracts but nobody was willing to notice Of course a lot of people noticed. The problem is that cryptocurrencies are currently primarily functioning as investment object rather than an actual secure financial ledger, which is why the interest of investors will trump purity.

Do ethereum and smart contracts currently have excellent customer service, such that the guy in TFA can get his 500k back?

by ljm 5y ago

Do ethereum and smart contracts currently have excellent customer service, such that the guy in TFA can get his 500k back?

spookthesunset 5y ago

Why should this person get anything back? Code is law. And if code is law all bugs are also law. The half million was a fair and just transfer. Whoever is the recipient is fully deserving both morally and ethically of their new-found wealth. If I was on the receiving end of this transaction, I’d thank the sender for the money and move on with my life. Of course I’d never be in the position to receive the funds because I’m not stupid enough to play this game—odds are very good I would be the one who sent half a million dollars by mistake! I mean, I think I’m joking but not really. If you want to practice “code is law” and really mean it, this is the kinds of stuff that will happen.

optimalsolver 5y ago
Code wasn't law when Ethereum foundation insiders stood to lose a fortune in the DAO hack.

capableweb 5y ago

The one who has the private keys to that account could give them the ETH back, yeah. But if no one has the private keys, they can not get it back, that would defeat the entire point of cryptocurrencies in the first place.

tetsujinnn 5y ago
There are two types of accounts in Ethereum, externally owned accounts (EOA) and contracts. EOA are controlled by private keys where contracts are not. Since the user sent ETH to a contract, he cannot get his ETH back if the contract does not have a method to transfer ETH back. Whereas if he sent ETH to an EOA then the user of that account can send him back ETH.
beefield 5y ago
But of course they can - if they are the right persons, that is. (See DAO hack. Of course, that did defeat the whole purpose of smart contracts but nobody was willing to notice.)
- Sebb767 5y ago
  > See DAO hack. Of course, that did defeat the whole purpose of smart contracts but nobody was willing to notice Of course a lot of people noticed. The problem is that cryptocurrencies are currently primarily functioning as investment object rather than an actual secure financial ledger, which is why the interest of investors will trump purity.