silmarieni
Jul 24, 2017 · 1 min read

Talk is cheap.

If you lost all your money in this hack, or let’s say all the pension money of your parents and relatives, with no possibility to get it back, would you be so optimistic in the future of Ethereum, and would you ardently profess that ‘the developer community in Ethereum is what makes it so powerful.’ ?

There are no reasons to believe that ‘smart contracts‘ will be bug-free anytime soon. There are lots of reason to believe that bugs in Ethereum have simply not been discovered yet.

Formal verification has been studied by academic for decades, and yet its use in real life is confidential. If there ever was an area where it should be mandatory by law, blockchains, wallets and digital currencies come to mind.

Pair review is better than nothing, but the process is not without flaws.

Ideally, all those pieces would be developed on make-believe Monopoly money until years of experience are acquired.

Of course, this isn’t the case. There is way too much easy money to be earned through speculation and manipulation, as the retarded exponential value rate of Ether, without basis in facts, shows.