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It's not exactly unique to crypto... in adtech, a configuration mistake on a web server can cost 6-7 figures as ads are being paid for, but take people nowhere.
by mpeg 4y ago
It's not exactly unique to crypto... in adtech, a configuration mistake on a web server can cost 6-7 figures as ads are being paid for, but take people nowhere.
- kelnos 4y agoSure, but the company managing the ad network can choose to be gentle, and refund the money. With these sorts of crypto mistakes, the money is just gone, because humans are -- as a desired feature of the system -- unable to correct these sorts of mistakes.
- blibble 4y agoand in a live trading system a small mistake can cost you 6-7 figures per second see: Knight Capital
- mpeg 4y agoindeed! the fintech world is already full of these footguns, but HN is very anti-crypto, so everything wrong that happens there is proof the whole industry is doomed
- LetMeInNowMate 4y ago
- mpeg 4y agoThat's your opinion. Who do you think loses out in a situation like that? The ad network is getting paid regardless, the adtech company (DSP, etc) will pretend nothing is wrong unless their client has hard proof and the client (probably a company you buy things every day from) was simply trying to promote a new product and will assume performance was just off. Ultimately it is their customer that pays for all this by continuing to buy their products and use ad-powered platforms.