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>.. a trusted environment .. There is a term called circuit-breaker. How would it possible to trust a system if it has a "feature" called circuit-breaker ?
by m00dy 5y ago
>.. a trusted environment ..
There is a term called circuit-breaker. How would it possible to trust a system if it has a "feature" called circuit-breaker ?
- toomuchtodo 5y agoCrypto proponents and libertarians taking issue with the rules of the capital markets is different than the system having no trust. The US capital markets are some of the most regulated, trusted markets in the world; it’s why capital flows into it (versus say, Russia, China, LATAM, etc). Some poorly written smart contract isn’t going to nuke their (potentially hundreds of millions of dollars) capital on a whim, and if there is an issue, there is a resolution path through industry, government, and the courts. That is “revealed trust” if you will. Importantly, the belief of an individual can be drastically different than the consensus of market participants. Based on the capital allocation in US capital markets (tens of trillions of dollars), what does that signal regarding trust? https://www.sifma.org/resources/research/fact-book/ https://www.sifma.org/resources/research/fact-book/
- thorncorona 5y agoYou could instead lose $625M to poorly written code [0]. Crypto is just rediscovering the reason we have financial regulations, at a higher speed. https://crypto.news/axie-infinity-ronin-network-hack-625m-usd-eth/ https://crypto.news/axie-infinity-ronin-network-hack-625m-us...
- lupire 5y agoKnight lost $400m due to a code bug in traffic.
- deleted 5y ago[deleted]
- adoxyz 5y agowhat's wrong with having a circuit-breaker? My house has many and they come in handy. Same with the stock market, it helps slow down emotional trading and limit certain attacks.