Ken
Ken
Jul 21, 2017 · 1 min read

So, oopsies is the answer to the now empty wallet owners who depended on the underlying logic of the contracts? How many more 10’s to 100’s of millions of play money will be lost to the ether before anyone with a legitimate business will feel that betting on cryptofiat imaginary contracts is worth the bet?

What happens when real life contracts are exploited and property is stolen, without recourse, or life insurance contracts pay out to the thief and not the widow and orphans?

Framing this as a programming error is terrifying! Here’s a thought, why doesn’t the white hat community think through loss recourse rather than “You should have known better than to keep your currency in a hot wallet, so, bad on you” as the answer? Until then, this is an interesting experiment with terrifyingly casual excuses when it goes wrong. As it surely will, soon, again.

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    Ken

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    Ken