undefined | Better HN

0 pointsomarhaneef3y ago0 comments

One of the points of digital assets is that the code is the contract, so whatever the code says is what was agreed to. There can be no cheating (in theory) hence no need to resort to courts etc.

0 comments

shkkmo3y ago

Which is why the big players the smart contract that was exploited in this article just accepted the loss and moved on? Oh wait, the two largest losers here BOTH went to court independently.

The cryotocurrency community supports the "code is law" talking point only until serious money is lost. Then they go the courts for redress under actual law, or they fork the blockchain.

antifa3y ago

And there is a chance that the courts will recognize law as law instead of code as law.

uoaei3y ago

And that will expose the fundamental contradictions and hypocrisy of the crypto community writ large, if they accept that help from the legal system.

plandis3y ago

When two or more parties sign a contract, it doesn’t necessarily mean that all the terms in that contract are enforceable.

uoaei3y ago

That's true if you are litigating the enforcement of the contract through traditional legal systems. Crypto enthusiasts want to be completely divorced from those.

j / k navigate · click thread line to collapse

0 comments

shkkmo3y ago

Which is why the big players the smart contract that was exploited in this article just accepted the loss and moved on? Oh wait, the two largest losers here BOTH went to court independently.

The cryotocurrency community supports the "code is law" talking point only until serious money is lost. Then they go the courts for redress under actual law, or they fork the blockchain.

antifa3y ago

And there is a chance that the courts will recognize law as law instead of code as law.

uoaei3y ago

And that will expose the fundamental contradictions and hypocrisy of the crypto community writ large, if they accept that help from the legal system.

plandis3y ago

When two or more parties sign a contract, it doesn’t necessarily mean that all the terms in that contract are enforceable.

uoaei3y ago

That's true if you are litigating the enforcement of the contract through traditional legal systems. Crypto enthusiasts want to be completely divorced from those.

j / k navigate · click thread line to collapse