Earlier quoted context omitted.
Who or what backs up the arbitrator? This is why we have guns, police, prisons, and militaries and lawyers....
> Who or what backs up the arbitrator? Ethereum contracts are turing complete. The payout function can be contingent on either the buyer or arbitrators releasing the funds. The arbitrators can be determined before hand or rely on an external contract that offers arbitration services. The possibilities are truly endless.
Show HN: Aragon – Everything you need to run your company on Ethereum
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Re: Show HN: Aragon – Everything you need to run your company on Ethereum
#112Re: Show HN: Aragon – Everything you need to run your company on Ethereum
#113Earlier quoted context omitted.
> Who or what backs up the arbitrator? Ethereum contracts are turing complete. The payout function can be contingent on either the buyer or arbitrators releasing the funds. The arbitrators can be determined before hand or rely on an external contract that offers arbitration services. The possibilities are truly endless.
why do people in the ethereum community throw around the phrase "turing complete" with such abandon? can't you just say that you can create smart contracts with contingent on conditions? I don't see what this has to do with a turing machine besides the fact that you can script if-else in a contract?
Re: Show HN: Aragon – Everything you need to run your company on Ethereum
#114Earlier quoted context omitted.
Prototypes fail but clearly people haven't given up on the basic crypto/blockchain idea. A product or service that reliably delivers value (even if imperfectly) will hang around. Look at the draconian penalties for dealing cocaine, or the fairly draconian social sanctions of being caught in possession of it, and yet the trade thrives despite decades of aggressive interdiction. It's going to be politically much more d…
Cocaine thrives because it is easy to conceal, easy to manufacture, has sky-high profit margins, no legal competition, and because you get paid in untraceable, unrecordable, launderable cash. Stopping crypto-mixing is much easier then stopping money laundering.
Re: Show HN: Aragon – Everything you need to run your company on Ethereum
#115Earlier quoted context omitted.
You're saying that there cannot possibly be large enough margins in anything to risk federal prison, which is self-evidently false. Your whole argument relies on declaring crypto currency as contraband, but contraband items are popular because they have inherent value to the consumers rather than simply being a medium of exchange. It's much easier to proscribe the possession of child porn, hand grenades, or heroin be…
> You're saying that there cannot possibly be large enough margins in anything to risk federal prison, which is self-evidently false. No, I'm saying that outside of drugs, assassinations, and moonshine in countries following Sharia law, there aren't large enough margins in anything to risk federal prison. > Your whole argument relies on declaring crypto currency as contraband, but contraband items are popular because…
There was a guy in my neighborhood who was a politician - first on the school board, then a city supervisor, then a state legislator. A real American success story - straight As in school, first from his community to succeed in getting elective office and worked very hard for his constituents, a guy who'd be outside the subway station at 6am during election season on his own to shake your hand and ask for your vote (which was the last time I met him in fact).
Anyway, he's currently sitting in federal prison for arms trading in automatic weapons and rocket-launchers which he bought from Islamic rebels in the Philippines and attempted to resell to the FBI. Why? Because under his pillar-of-the-community exterior, he secretly longed to live the life of a gangster/warlord and had dreams of disappearing off to the jungle to do it full time. I swear to you that I'm not exaggerating even a little bit.
Now for general adoption of a crypto currency you're right, most people don't want to deal with anything riskier than buying weed or driving on an expired license. But consider that it may only need a small number of people with a very different risk calculus to create a viable marketplace.
When I say crypto isn't contraband, I mean that people's attitude toward it is different. If you are caught with contraband lots of people will say 'tough, that contraband is illegal to possess for good reasons you bad person.' But if you are caught with illegal cryptocurrency that you acquired in some otherwise legal business activity (just getting paid in coin rather than $), that won't seem like that big of a moral issue to most people. That creates a problem for prosecutors, since jurors might choose not to convict.
That's correct. However, we are discussing using a blockchain to run a company that 'can't be shut down'. What exactly would you be selling, that makes it worth the trouble?
Nothing, necessarily. Suppose that rather than trafficking in goods my intention were to undermine existing currencies through legal competition. In a way the high utility of cryptocurrency for black-market transactions is a drawback because it delays popular adoption due to guilt by association. Then again, that's probably just as well while the technical and philosophical wrinkles are ironed out.
Re: Show HN: Aragon – Everything you need to run your company on Ethereum
#1161. semantic-ui.com
Re: Show HN: Aragon – Everything you need to run your company on Ethereum
#117Just as Bitcoin lovers are learning the hard way why we have banking regulations, so are Ethereum followers learning the hard way why we have courts.
Re: Show HN: Aragon – Everything you need to run your company on Ethereum
#118I also believe that some of the tools these guys are building can be very useful for conventional companies too. There's a whole lot of bureaucracy and inefficiency in running a company.
See eShares and his elegant and simple solution for cap management. I believe there are many other areas in which similar improvements can be made, and software needed to run a blockchain company could also be used to improve procedures at conventional companies.
Re: Show HN: Aragon – Everything you need to run your company on Ethereum
#119Earlier quoted context omitted.
It was a badly designed app written by a couple of over-eager developers who didn't have any security plan in place. If you blamed the language every time a website got hacked, there wouldn't be any languages left.
Language choice matters. If asked to write a pacemaker in PHP I would refuse.
Re: Show HN: Aragon – Everything you need to run your company on Ethereum
#120Is https://aragon.one itself using Aragon? If not, why?
Peculiar how author dodges this question, the answer is presumably no. It's so disruptive even the creators choose to use the old "outdated" way it claims to be solving. If you don't eat your own dog food it means you don't have confidence in it. So why push the garbage on to somebody else who will take all the risks? How the heck does this make frontpage?
Even if it does become more stable in the future, they haven't made the case that this is well suited for all businesses. It is designed to enable cooperation between stakeholders; a company with one major stakeholder has little need for it.