This technology is going to change the world

And it’s going to make me filthy fucking rich while doing so.

Learn solidity you fucking brainlets.

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>muh smart contracts
>code is law
As The DAO project has shown, smart contracts are a fucking terrible idea.

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>a hiccup happened on a brand new piece of technology therefore throw it all away despite it performing flawlessly sense
Wow it’s like you brainlets can even fathom technology progressing and improving as time goes. You’re like one of those idiots that saw email in the 90’s and concluded the internet won’t have much of an impact because you fail to properly see how the tech would improves as time goes on.
>fuck cars, they’re slow as shit and can only drive on flat roads. I’ll stick to my horse!

>This technology is going to change the world
lol

Business brainlet here, do contracts really matter that much? Do they have that many problems from the start?

>anonymity
Can't wait for people to scam the shit out of people using indian coders/devs working for $5 a day while profitting from a contract worth 300x that a day by claiming the developing party has a studio/office/techbase with 100 people working 60 hours a week.

These ideas don't work out for big companies because they need transparency to ensure quality. That's why they tend to sign strict contracts that have armies of lawyers going over them to ensure they don't leave a gap the contractee can abuse. This is why it's also called CodeBrahma because it's some pooinloo coder who's going to scam the fuck out of people via doing it.

I never heard of that, and after googling, I still am not sure if I heard of that. It's not that I don't understand what it does, because it seems it odesn't even do anything at all. Save for the anonymous aspect, it seems to be a needlessly convoluted way for investors in a fund to choose where their money is applied. All this talk about the operations being fully viewable by the public is utterly pointless, because it can't be grifted in the first place, exploits notwithstanding.

Am I a brainletling? What am I missing?

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Are you talking about a DAO? Or the specific DAO hack that happened?

If you want a simple answer to this question then look into something like settlement fail and how much $$$ is lost annually from people failing to settle on a finacial contract.

If you want a complex answer think about trust as a subjective concept and how deeply ingrained the concept of Trust is in society. Think big.

>And it’s going to make me filthy fucking rich while doing so.
how?

Shit man, I didn't even figure out that there were more of them. It read like a bad idea which was tried once, flopped miserably and would never be brought up again.

>That's why they tend to sign strict contracts that have armies of lawyers going over them to ensure they don't leave a gap the contractee can abuse.

Even in a word where smart contracts dominate law/finance we will always have lawyers to audit the code.
But entire offices of beuercrats and accountants can’t be automated with a deterministic protocol. Imagine having a contract payout an employee automically into their bank account for every hour they work, having the tax deductated automatically and even have it set up so a % of their pay is put automically into investments. Oh, and they payout of derivatives on their investments? Yea, a smart contract will handle that aswel. The day of automation is upon us and smart contract will dominate the world of finance in 10 years.

Banks don’t necessarily want to give up control, but look at legislature like PSD2 being passed in the EU. Watch and learn how the big boys swing their dicks when lazy good for nothing beaurcrats try to push them around. Now follow the money and look at whose investing the most amount of money into this market.
>JP Morgan
>Fidelity labs
>Wells Fargo

Watch and learn how the big boys do it when lazy good for nothing beurocrats try to push them around.
Hint:
>they end up richer and fire half their staff while doing so

No you pretty much got it. It was dumb as fuck even if executed properly but those tards couldn't even manage that.

>This technology is going to change the world
>And it’s going to make me filthy fucking rich while doing so.

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I’ll give you a fat fucking hint, but not going to completely spoon feed you guys. You know, give a man a fish feed him for a day....

>MONITIZATION OF DATA

I mean, anonymous contracts is an interesting concept, but it's impossible if you can't physically enforce them, which would ruin the anonymity, whereas cryptocurrencies just werk because it serves a single purpose which everyone agrees with. Unless one would trust an impartial third-party to not reveal anyone's identity to anyone else while enforcing the contracts, which would just be a regular corporation. And the biggest thing keeping a corp's operations hidden from the public isn't even technology, but capitalist law.

It seems like a Rube Goldberg of making a verbal contract.

Go back to your threads about your video game consoles and you cool manchild computer caves

go back to you deranged sissy ninny.

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Who the fuck is talking about anonymity? Who the fuck cares of anonymity? Are you some cypherpunk looking to hide his identity online? Anonymity is only a small part of the equation.

These contract are automatically executing and deterministic by nature. Imagine a giant decentralized autonomous organization exsisting as a world exchange for commodities, precious metals, stocks all processing payments, paying out derivatives, tracking the entire history of finacial trade that proves with 100% certainty that you own your assets, and you have the ability to directly sell it, store it in your own personal wallet, or send it to anyone, anywhere on earth at any time automically without the need of a central authority

Think big

Funny getting called a sissy on this degenerate website were half of you faggots jack off to boys dressed as women.

Should head back to Jow Forums
You're no longer allowed to scam people with blockchain memes here anymore

>>MONITIZATION OF DATA
could you be any more vague? lmao

Look at how PoW networks like bitcoin operate.
You receive bitcoins for the amount of hashing power you provide. The more hardware you have the more money you receive. This process is often referred to as “mining”
This consumes a ton of energy and is very wasteful. It’s very archaic.

There is a new form of “mining”. Mining 2.0 if you will....
You only need one computer. And you can do it at home. Can you figure it out?

Here’s another hint:
>smart contracts need relevant data to execute

>>There is a new form of “mining”. Mining 2.0 if you will....
>You only need one computer. And you can do it at home. Can you figure it out?
>
>Here’s another hint:
>>smart contracts need relevant data to execute
dude if you wanna have a conversation, just say what you're gonna say, don't be vague like this, I'm not gonna play games with you.

Didn't it cause some Canadian company to lose 14 million lol