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A comment on A hacker stole $31M of Ether – how it happened, and what it means for Ethereum. Parent comment

Re:A hacker stole $31M of Ether – how it happened, and what ... by return0 on Friday July 21, 2017 @06:51AM (#14819420)
Again, the question is who you trust, and that remains a moral choice, not an objective, empirical choice. Some people don't trust a government elected by only half the population, for example. Some others may prefer to trust an elite of "enlightened hackers" than hordes of plebs.

You might be right that governments are more evolved and have more history but that doesn't make them universally better.

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Re:A hacker stole $31M of Ether – how it happened, and what ... by harryh on Friday July 21, 2017 @09:29AM (#14820333)
Again, the question is who you trust, and that remains a moral choice, not an objective, empirical choice.

Oh come on. It absolutely is an empirical choice. Crypto-currencies have a very short history and that history is CHOCK FULL of people losing their money due to various forms of incompetence and graft.

Storing your money in a bank in a western democracy has centuries of history with extremely rare losses.

Please.

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Re:A hacker stole $31M of Ether – how it happened, and what ... by meepmorp on Friday July 21, 2017 @10:35AM (#14820838)
>Storing your money in a bank in a western democracy has centuries of history with extremely rare losses.

While I agree with your overall point, I think you're glossing over the historical instabilities in the banking system. Bank runs, failures, and physical robberies were pretty common until comparatively recently (in the US, at least - the 19th century was chock full of them).

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Re:A hacker stole $31M of Ether – how it happened, and what ... by harryh on Friday July 21, 2017 @10:41AM (#14820883)
Even in the dark days before the FDIC losses in US banks were rarer than what we see in cryptocurrencies today.
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Re:A hacker stole $31M of Ether – how it happened, and what ... by return0 on Friday July 21, 2017 @10:57AM (#14821034)
Cryptocurrencies offer the opportinity to test the waters with new models. If we go by the thinking "keep what works", society would have never changed. I agree that they have big failures to show, but i think it's still early to tell.
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