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/biz/ - Business & Finance

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13517961 No.13517961 [Reply] [Original]

Smart contracts are bullshit for various reasons. When you put your property on a smart contract, when you lose your keys are you going to move out of your house now? If you die, is the property gone forever and can't be owned by anyone ever again?

Some people say "well you have multisig and have a will, once you die it gets handled"

Except it doesn't. Who decides if you're dead or not? Who has the ultimate say? The doctor? Your spouse? The government? Whoever that person is, you'll have to trust them. Which goes against the whole smart contract idea of removing trust in the first place.

Now people will say that's why you need an oracle (aka chainlink), but an oracle doesn't know either. At best you can aggregate data. So if you want to know who won the football game, you can get data from fox sports, espn, etc. And then you can say ok this team won. Except you're trusting all those sources. It doesn't remove trust. That's because whatever computer, they can't verify things themselves because they don't know how to. How is ETH supposed to know, with 100% certainty, that you're dead? Even doctors call people's deaths and sometimes they come back alive minutes later.

Also, to write a smart contract with no trust, you need to learn ETH coding, be very well versed and hope you don't make a mistake. Because if you do, you can lose all your money or your property. You need to write bug-proof code. As any software developer if that's possible. You need to do this multiple times not just once in a smart-contract world.

>> No.13517970

>>13517961
smart contracts are future of fintech.

>> No.13517976

>>13517961
sooooo.....you are saying go in on LINK got it. I just bought 100k

>> No.13517978

The proof that having a lot of money doesn't make you smart ladiesand gentlemen.
Provided this isn't a LARP, which of course it is.

>> No.13517979

>>13517970
>>13517976
Not an argument.

>> No.13517981

>>13517961
Tezos

>> No.13517985

>>13517978
Still not an argument.

>> No.13517988

>>13517981
Centralized shitcoin.

>> No.13518042

>>13517961
>implying that problems which you've designed into a hypothetical implementation of smart contracts in a real estate context are problems with smart contracts in general.
> implying that smart contracts remove the need for trust in all contexts
>implying that aggregation is only designed to mitigate trust problems wrt data sources
>implying that your post is anything but bait

>> No.13518055

>>13518042
>Didn't refute any point

>> No.13518129

>>13517961
LMAO everyday people come to this board completely dumbfounded with the SAME EXACT opinion thinking they just discovered something ground breaking
>DUUUR SMART CONTRACTS ARENT COMPLETLEY TRUSTLESS
>UURGGHH UUUH HOW DOES DA SMART CONTRACT KNOW WHAT DA TRUTH IS?

First off idiot your idea of a god protocol is a fucking pipe dream. Do you even understand just how fucking ridiculous you sound right now? Just stop and think for a Second what the fuck you are arguing about.
Smart contracts are not an all knowing artificial intelligence that is able to find 100% truth in this world. Whoever blew smoke up your fat ass for you to come to that conclusion is just as dumb as you are.

A smart contract is a piece of code that facilitates a trade between two parties, is deterministic by nature, and is verified through DLT.

In what fucking part of that explanation did you somehow come up with in your small brain that a smart contract is an all knowing deity that finds absolute truth? How did you come to this conclusion? Here’s a great idea for you, brainlet, make a time machine go back in time to before Stanley krubrick died and asked him how he created HAL 9000 and maybe then we can have this amazing piece of omniprey technology you speak about.

>Also, to write a smart contract with no trust, you need to learn ETH coding, be very well versed and hope you don't make a mistake. Because if you do, you can lose all your money or your property. You need to write bug-proof code. As any software developer if that's possible. You need to do this multiple times not just once in a smart-contract world.

Wow bravo on this line fucking idiot.

>> No.13518138

>>13518129
Not an argument.

>> No.13518152

>>13518138
Wow nice bait

>> No.13518187
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13518187

>>13517961
>Whale here

Bam! Everyone believed it....

>> No.13518341

>>13517961
>Whale here
Didn't read
sage