> Say I raise investment under contract with all my investors, and I included a little provision no one reads that says I can appropriate all or part of the investment. Wouldn't you know it I absconded with their investment. My investors sue me and I file an affirmative defense of No Breach of Contract and introduce the Contract which expressly states I can appropriate my investors money as I see fit. That contract will not be enforced, are we in agreement?
Personally I don't understand the people acting like "smart contracts" exist independent from an existing judicial system (or systems) just because there's computers involved. I guess the same people excited for cryptocurrency are largely the same people who don't believe in government so the whole point is to somehow be independent of any legal jurisdiction.