News for hackers. Stuff that matters.

A comment on Binance's books are a black box, filings show, as it tries to rally confidence. Parent comment

Re:Binance's books are a black box, filings show, as it trie... by hanniabu on Monday December 19, 2022 @08:51PM (#34060536)
"hey let's facilitate this transaction on Ethereum"

"no, that's ridiculous, let's build a clearinghouse, get a bunch of lawyers and have paper contracts drafter, ad deal with differences in international law."

[ Parent | on HN ]
Re:Binance's books are a black box, filings show, as it trie... by RC_ITR on Tuesday December 20, 2022 @12:00AM (#34061733)
Lmfao. What is this straw man transaction that can be settled on ETH (keep in mind, you’re already completely leaning on sunk cost fallacy) but needs a lawyer off chain?!

Like, either the terms are known and you put them in a smart contract or they’re unknown and you need lawyers anyway.

I dig the energy, but at least be sort of realistic in your “owns”

[ Parent | on HN ]
Re:Binance's books are a black box, filings show, as it trie... by hanniabu on Tuesday December 20, 2022 @11:02AM (#34067755)
I'm just going along with everyone else's rebuttal of "just use a lawyer", "just use a clearing house", "just pay someone to balance/record your own books", and whatever else they mention to avoid a solution that exists.

It's a bit like hearing people dismiss email and saying "just use snail mail", "just have a scribe write the letter for you", "just use a personal carrier so it's faster".

[ Parent | on HN ]