$34M permanently locked into AkuDreams contract forever due to bad code

Re:$34M permanently locked into AkuDreams contract forever d... by tomatowurst on Saturday April 23, 2022 @12:25PM (#31135678)

Same here but I had a much more cynical view of the oracle issue that it is by design aimed at eventual and total financial destruction of most participants. This cynicism were fueled further by the ideology that justified this for some great adoption that was promised even further back.

You can have decentralized systems but because monetary wealth accumulation is centralized by nature, and any decentralized system that introduces monetary accumulation and inflation reverts to a centralized state.

A good example of this is Bitcoin. Those with the most liquid currency (fiat) can buy more hardware that centralizes wealth. You simply cannot have an MLM scheme without a pyramid.

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Re:$34M permanently locked into AkuDreams contract forever d... by cinntaile on Saturday April 23, 2022 @12:38PM (#31135811)

> it is by design aimed at eventual and total financial destruction of most participants.

Your entire post is about inevitable centralization but that is not the oracle problem. The oracle problem is about providing access to real life data on the blockchain, but the issue is that you still need to trust someone to provide that data. Maybe I am misunderstanding you but I don't get how that by design leads to the total financial destruction of most participants?

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Re:$34M permanently locked into AkuDreams contract forever d... by MrMan on Sunday April 24, 2022 @08:07AM (#31143277)

in my opinion oracle problem necessitates more middlemen to act as data / truth providers and of course they will have to be paid, and will impose an information bottleneck which they will leverage. this is centralization to me.

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