Re:153k Ether Stolen in Parity Multi-Sig Attack
by Kenji on Wednesday July 19, 2017 @05:10PM
(#14807973)
Let perfect not be the enemy of good. If you demanded that our currencies like dollars live up to your criteria, we would still be trading goods without currency.
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Re:153k Ether Stolen in Parity Multi-Sig Attack
by twblalock on Wednesday July 19, 2017 @05:12PM
(#14807983)
Dollars don't purport to have a blockchain or immutable transactions. Ethereum does. Ethereum needs to live up to the standards it has set for itself.
Re:153k Ether Stolen in Parity Multi-Sig Attack
by avaer on Wednesday July 19, 2017 @05:17PM
(#14808020)
That ship sailed a while ago. Ethereum has already used its market position to de facto interfere with the transactions they declare immutable on the project home page. [1]
[1] https://blog.ethereum.org/2016/06/17/critical-update-re-dao-...
Re:153k Ether Stolen in Parity Multi-Sig Attack
by Kenji on Wednesday July 19, 2017 @05:33PM
(#14808163)
Oh, yeah, I forgot. Dollars are much better; a central bank (actually, any bank) can create arbitrarily many of them and flood the other banks and the market with cheap money, causing things like the subprime crisis. Much better than crypto currencies.
Re:153k Ether Stolen in Parity Multi-Sig Attack
by ceejayoz on Wednesday July 19, 2017 @10:44PM
(#14809699)
That's... not how the subprime crisis happened.
Printing money was part of how we got out of it. https://en.wikipedia.org/wiki/Quantitative_easing
Re:153k Ether Stolen in Parity Multi-Sig Attack
by Retra on Wednesday July 19, 2017 @10:43PM
(#14809696)
Airplanes can fall out of the sky at any moment, but you're still less likely to be hit by one than if you're standing on a rail waiting for a train to dodge around you.
Inflexibility is not an advantage unless you're dealing with formally describable, proven systems. Human behavior and economics are not.
Re:153k Ether Stolen in Parity Multi-Sig Attack
by anigbrowl on Wednesday July 19, 2017 @05:33PM
(#14808166)
The dollar depends on the willingness of the US government to keep servicing its debts, which would have real-world implications if it stopped. Indeed, political disagreements over this have already resulted in interruptions to governance and the availability of services, which is arguably equivalent to food shortages under communism.
Re:153k Ether Stolen in Parity Multi-Sig Attack
by davidy123 on Wednesday July 19, 2017 @05:57PM
(#14808365)
"We" possibly never did trade goods instead of using currency. https://www.theatlantic.com/business/archive/2016/02/barter-...