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I've watched crypto for years with interest, I've worked in the field, speculated in it with my savings, used it for international transfers, spent it, etc. Tha
by eloff 4y ago
I've watched crypto for years with interest, I've worked in the field, speculated in it with my savings, used it for international transfers, spent it, etc. That is to say I'm not some armchair critic.
I find myself lately viewing crypto as mostly a bad idea, or a bad implementation of an idea with potential, or even outright as a Ponzi scheme.
These smart contacts are really a bad idea. We have contracts in life with lawyers, these tend to work out pretty well because we can use our human intelligence to arbitrate them. The idea of code as law is really dumb. I say that as a programmer who works on code all day. Computers are dumb like your calculator. They do exactly what you tell them to. Which sounds great until you realize how hard it is to describe what you want in a way the computer can understand. That's why I make a good salary and people think my job is difficult. The reality is computers often do what you tell them, but it's not what you wanted. Rather you have the instructions wrong or you made a mistake. That's why software is riddled with bugs. Avoiding that is very, very, very difficult. Nobody gets it right. These crypto finance bros will definately not get it right. And when they get it wrong, there's no human, no court to appeal to. How's that an improvement?