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This is like saying that because someone is able to write buggy money transference software that lets users change their own account balance within _that buggy
by davidmurdoch 5y ago
This is like saying that because someone is able to write buggy money transference software that lets users change their own account balance within _that buggy software_ that your personal bank is now insecure.
- jollybean 5y agoNo it's not, though. I expect that my bank is not perfectly secure. And when it fails, there will be ways to redress the problem, i.e. account insurance, bank refunds, legal recourses etc.. Blockchains have 'no way out'. When there is a problem, it breaks everything. Recently, there was a grift on ETH and to overcome the problem, there was a massive fork, which is enormously hypocritical because it implies that there are 100% 'Central Authorities' with ETH, who are unarmed, unrestrained by any regulation or oversight, policy and probably any legality. Etc. The only way for Blockchains to maintain their ideological integrity is if they are 'perfect'. But they are not 'perfect' and require 'maintenance and oversight'. Ergo they are self defeating their own purpose. Ultimately, it's a ruse or will mostly be used as such.