4 ms·
> People keep claiming over and over that you'd not lose money like this with (non-smart) contracts because the court would always rule your way. I don't think
by thomascgalvin 4y ago
> People keep claiming over and over that you'd not lose money like this with (non-smart) contracts because the court would always rule your way.
I don't think anyone is claiming that the court would always rule your way; that's a strawman. Courts do stupid shit all the time.
The point is that a court could rule in your favor. With something like this, what's the remedy? How is a court going to order some developer to undo a transaction posted to an immutable ledger? What do you do when the source of truth is wrong, and cannot be altered?
- erulabs 4y agoAgreed the original post was a bit of a straw man but now we’re just weighing risks. If a court can make a stupid decision with someone’s assets then it flows both ways: a court can take as well as return. So yes crypto fails to be recoverable by a court - but that’s obviously offset by being difficult to be stolen by a court too. The fact that most western countries don’t wholesale steal from their citizens means it’s easy to discount this benefit in the face of this cost.