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> If you end up using the legal system to remediate undesired transactions, what's the point of cryptocurrencies in the first place? Agreed, but there is alrea
by Vegenoid 2y ago
> If you end up using the legal system to remediate undesired transactions, what's the point of cryptocurrencies in the first place?
Agreed, but there is already a very similar case where "code is law" was tested, and failed: https://www.justice.gov/archives/opa/pr/man-convicted-110m-cryptocurrency-scheme https://www.justice.gov/archives/opa/pr/man-convicted-110m-c...
It turns out that once a financial system becomes big enough, the US will apply its finance laws to it. Finance laws are designed to prevent sudden unexpected transfers of wealth from one (wealthy) unwilling party to another based on unanticipated loopholes.