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> smart contract They need a new name for these things that better communicates the risk level. Right now calling these "smart contracts" is like calling dynam

> smart contract They need a new name for these things that better communicates the risk level. Right now calling these "smart contracts" is like calling dynamite a "lovely candle". There's nothing smart about something that lets you screw up this badly.

spookthesunset 5y ago
If they didn’t formally verify the smart contract in a way that covers all edge cases including known “exploits” they kinda deserve to have their ethereum transferred to its new holder. Code is law.
- lottin 5y ago
  According to contract theory, it may not be possible, in practice, to write "complete contracts", that is contracts that specify what is to be done in every possible contingency. See https://en.wikipedia.org/wiki/Complete_contract https://en.wikipedia.org/wiki/Complete_contract
- tablespoon 5y ago
  > If they didn’t formally verify the smart contract in a way that covers all edge cases including known “exploits” they kinda deserve to have their ethereum transferred to its new holder. Code is law. It boggles my mind that anyone would want to participate in anything like that, let alone believe it's the future of anything. It's like volunteering to live in a hole in the middle of a WWI no-mans-land, when there are nice homes available in town where you don't have to worry about being killed all the time. It's one thing to be forced to live in a dark forest, it's quite another to choose to live in one (as anything other than the apex predator).
  - ohgodplsno 5y ago
    You're forgetting that the biggest community on cryptocurrencies are ancaps thinking they are the apex predators.
- raverbashing 5y ago
  "formally verify the contract" it would help if Solidity was as well though out as Ada, and not something more like JS. I'd even argue that imperative programming is the wrong paradigm for such smart contracts.
- wnkrshm 5y ago
  Apparently not, as the hard fork into Ethereum and Eth. Classic proves. Once every big stakeholder decides the game isn't in their favor anymore, they change the rules.
- cowl 5y ago
  >> in a way that covers all edge cases That is simply not possible. No-one can think of all edge cases.
- Sohcahtoa82 5y ago
  It takes an extreme level of hubris to ever think your code covers all edge cases and potential exploits.
DonHopkins 5y ago
- endgame 5y ago
  There used to be a lisp dialect called "pyramid" partially to make the "pyramid scheme" joke. https://www.michaelburge.us/2017/11/28/write-your-next-ethereum-contract-in-pyramid-scheme.html https://www.michaelburge.us/2017/11/28/write-your-next-ether...
  - deleted 5y ago
    [deleted]
woah 5y ago
You can crash a plane with C++ (Boeing did this a few years ago)

spookthesunset 5y ago

If they didn’t formally verify the smart contract in a way that covers all edge cases including known “exploits” they kinda deserve to have their ethereum transferred to its new holder. Code is law.

lottin 5y ago
According to contract theory, it may not be possible, in practice, to write "complete contracts", that is contracts that specify what is to be done in every possible contingency. See https://en.wikipedia.org/wiki/Complete_contract https://en.wikipedia.org/wiki/Complete_contract
tablespoon 5y ago
> If they didn’t formally verify the smart contract in a way that covers all edge cases including known “exploits” they kinda deserve to have their ethereum transferred to its new holder. Code is law. It boggles my mind that anyone would want to participate in anything like that, let alone believe it's the future of anything. It's like volunteering to live in a hole in the middle of a WWI no-mans-land, when there are nice homes available in town where you don't have to worry about being killed all the time. It's one thing to be forced to live in a dark forest, it's quite another to choose to live in one (as anything other than the apex predator).
- ohgodplsno 5y ago
  You're forgetting that the biggest community on cryptocurrencies are ancaps thinking they are the apex predators.
raverbashing 5y ago
"formally verify the contract" it would help if Solidity was as well though out as Ada, and not something more like JS. I'd even argue that imperative programming is the wrong paradigm for such smart contracts.
wnkrshm 5y ago
Apparently not, as the hard fork into Ethereum and Eth. Classic proves. Once every big stakeholder decides the game isn't in their favor anymore, they change the rules.
cowl 5y ago
>> in a way that covers all edge cases That is simply not possible. No-one can think of all edge cases.
Sohcahtoa82 5y ago
It takes an extreme level of hubris to ever think your code covers all edge cases and potential exploits.

DonHopkins 5y ago

endgame 5y ago
There used to be a lisp dialect called "pyramid" partially to make the "pyramid scheme" joke. https://www.michaelburge.us/2017/11/28/write-your-next-ethereum-contract-in-pyramid-scheme.html https://www.michaelburge.us/2017/11/28/write-your-next-ether...
- deleted 5y ago
  [deleted]

woah 5y ago

You can crash a plane with C++ (Boeing did this a few years ago)