| ▲ | michaelt an hour ago | |||||||||||||||||||||||||||||||
That hasn't been true for years. Back in 2016 a then-huge Ethereum smart contract called "The DAO" [1] had a loophole that let an attacker extract a third of all the funds. But a lot of the developers and miners had either lost money themselves, or had friends who'd lost money, or felt the embarrassing incident was devaluing their own Ethereum holdings. So they decided to allow takesies-backsies. There's probably a philosophical lesson there about power and who the rules really apply to. | ||||||||||||||||||||||||||||||||
| ▲ | chao- 31 minutes ago | parent [-] | |||||||||||||||||||||||||||||||
I vividly remember a number of discussions/debates during that time (including on HN). I was more favorable to cryptocurrency in those days, and one of the things that contributed to my disillusionment was watching the people deepest and closest to it rediscover financial regulation from first principles, now that it was in their interest. | ||||||||||||||||||||||||||||||||
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