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A comment on $600M taken in largest DeFi hack to date. Parent comment

Re:$600M taken in largest DeFi hack to date by xur17 on Tuesday August 10, 2021 @05:11PM (#28134614)
2 of the biggest benefits I see are:

- leveling the playing field with an open interface that anyone can build on top of

- allowing true ownership of assets

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Re:$600M taken in largest DeFi hack to date by sbeller on Tuesday August 10, 2021 @11:53PM (#28137817)
> - allowing true ownership of assets

What is ownership and how is it true? This is philosophically on the deep end, as the evil powers can seize your wallet just as easily and you may have no (legal) recourse, https://xkcd.com/538/

Seriously if I own a traditional asset within the current legal system (e.g. stocks, bonds, real estate), "the system" can help me protect and enforce my ownership rights, if you're in good social standing. In crypto "the system" cannot help you as much.

However if you are in bad social standing, the system can seize the wallet or the stocks easily.

[ Parent | on HN ]