Comment on MIT Students Stole $25 Million In Seconds By Exploiting ETH Blockchain Bug, DOJ Says
best_username_ever@sh.itjust.works 7 months agoYour solution is to blame people who make mistakes, and reward companies who scam them. Real money is backed by governments and a justice system. The alternative is anarchy, and bitcoins show it really well.
shortwavesurfer@monero.town 7 months ago
Yeah, we are going to have to agree to disagree there. What you call real money backed by the government and justice systems has always failed eventually. Because people manipulate it for personal gain. I wish you good luck manipulating Bitcoin since it hasn’t happened in the 14 years it’s existed. Lots have tried, all have failed.
Ibaudia@lemmy.world 7 months ago
Never! Except with early pump-and-dumps, whale manipulation, spoofing, wash trading, Mt. Gox, or what’s happening with Tether.
But besides all that stuff creating massively disruptive volatility on a slow as shit network, what’s not to love?
shortwavesurfer@monero.town 7 months ago
Exactly, companies and services have scammed users, but the core protocol is as good or better today than it was in 2010 and it has not been hacked. Trust me, many people would be extatic to see it happen. The fundamentals are rock solid.
Ibaudia@lemmy.world 7 months ago
My point is that its lack of regulation and decentralization makes it more vulnerable to the types of attacks that actually matter, namely market manipulation, fraud, and scams targeting specific accounts through social engineering. Those are already the biggest problems with FIAT, and crypto just intensifies them. by removing existing protections.