Deconstructing the DAO Attack: A Brief Code Tour
I know I'll get napalmed for saying this, but why is this all over HN? Why are people obsessed with cryptocurrencies?It's bad enough that those with sufficient computing speed/power can already rip off the stock market; why does the world need another way for people to rip each other off?Since we've determined over history that some people will take advantage of weakness for their own gain, no matter what system you create to transfer goods, resources, services or value representing those, it will be exploited. So- why even spend time on it?If everyone who cares to maintains their own accounting data does so, regardless of what technologies we are using, we really could just trade in goods, services, and coin and completely get rid of all virtual currency. Investments could go back to literally to providing coins, goods, resources, or services to those that we'd like to support possibly in exchange for reciprocity.Since that won't happen right away,
if you really want to secure your financial future, major S&P 500 index tracking funds have been one of the smartest things over its history to invest in: http://finance.yahoo.com/echarts?s=%5EGSPC+Interactive#symbo...While some of you made money on bitcoin, many lost. Now the same game has been played again with people believing that someone can write code to replace our currency system and if they get in early enough, they'll be kings or queens. Well- again, it didn't happen. What really is to gain from this fantasy world of cryptocurrencies? It is harming more than it is helping, from what I see.And if you downvote this, tell me why, otherwise I'll just assume you are with those that want to exploit me and others.