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Trust in code, not companies: the belief that a community’s smart contracts encode and enforce its rules We should all trust unknown developers why, exactly?
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Don't trust, verify is one of our battle cries.
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Users control the apps and networks they use Forrester can't see that happening beyond a few tech-savvy types
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Internet 1998, Forrester can't see that happening beyond a few tech-savvy types
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Decentralized autonomous organizations, entities that exist as a collection of smart contracts Have no legal basis and work on a utopian assumption that all possibilities can be coded;
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Countries run by the will of common people is utopian ideal. Everyone knows you need monarchy
There is a social contract: if I don't follow them then the gov can do X. But, of course, I may be happy with that trade-off if the expected value of my actions are positive. That is: payoff > probCaught * personalUtilityOfJail + (1 - probCaught) * personalUtilityOfBreakingLaw.
Sure, you can always be criminal, but most will not and the cryptos at large will never be adopted by the masses if govts ban them. This is unlikely, but public sentiment against mining has a higher probability to play out against the maximalists
Don't trust, verify is one of our battle cries.
``` Users control the apps and networks they use Forrester can't see that happening beyond a few tech-savvy types ```
Internet 1998, Forrester can't see that happening beyond a few tech-savvy types
``` Decentralized autonomous organizations, entities that exist as a collection of smart contracts Have no legal basis and work on a utopian assumption that all possibilities can be coded; ``` Countries run by the will of common people is utopian ideal. Everyone knows you need monarchy
``` Decentralized finance (DeFi) Nice idea, shame it lacks consumer protection ```
No one is forcing anyone to use it. We want wild west, we know the risks, thats how we like it. Leave us alone !
I feel dumber having read that article