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> ... verified by Reality Keys. Etheropt has no owner. Its entire operation is described and executed by an Ethereum smart contract. Tell me if I'm wrong but isn't your trusted third party now simply Reality Keys?
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It's funny to realize that a DAC can go on existing even after its creators may have been charged or imprisoned for breaking a law or regulation. I don't agree with the CFTC but I acknowledge their power.
Is there a distinction between developing software and operating it? Usually. Always?
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The CFTC can eat one. Seriously, there's not a goddamn thing they will be able to do about DACs. Better call a hearing.
It's funny to realize that a DAC can go on existing even after its creators may have been charged or imprisoned for breaking a law or regulation. I don't agree with the CFTC but I acknowledge their power.
> ... verified by Reality Keys. Etheropt has no owner. Its entire operation is described and executed by an Ethereum smart contract. Tell me if I'm wrong but isn't your trusted third party now simply Reality Keys?
So far it seems that the only true reliable ethereum use cases have been ponzi schemes and dice games, because these can be implemented completely in the system.
Ethereum's much-promoted gambling app, 'Augur', gets very messy when it comes to settling market winners. I wonder how they will cope with fixing wrongly-settled events, and who will foot the bill?
> ... verified by Reality Keys. Etheropt has no owner. Its entire operation is described and executed by an Ethereum smart contract. Tell me if I'm wrong but isn't your trusted third party now simply Reality Keys?
If they used Oraclize (secured by TLSNotary), impossible to forge any data, it would be as authentic as Poloniex/Kraken's APIs say it is.
> ... verified by Reality Keys. Etheropt has no owner. Its entire operation is described and executed by an Ethereum smart contract. Tell me if I'm wrong but isn't your trusted third party now simply Reality Keys?
This is awesome! I've been wondering when we were going to see some of these DAOs come online. (Assuming OP is author or author is reading) Have you written up/do you have any resources on writing a smart contract like this?
I am the author, and I think the best way to get started is by looking at existing contracts, which are generally written in Solidity, Ethereum's language for writing smart contracts. Here are a few examples that I found helpful: - https://github.com/etherpot/contract/blob/master/app/contrac... - https://etherdice.io/#contract - https://ethereumpyramid.com/contract.html - And of course the main docs, http://solidity.…
This is awesome! I've been wondering when we were going to see some of these DAOs come online. (Assuming OP is author or author is reading) Have you written up/do you have any resources on writing a smart contract like this?
I am the author, and I think the best way to get started is by looking at existing contracts, which are generally written in Solidity, Ethereum's language for writing smart contracts. Here are a few examples that I found helpful: - https://github.com/etherpot/contract/blob/master/app/contrac... - https://etherdice.io/#contract - https://ethereumpyramid.com/contract.html - And of course the main docs, http://solidity.…
https://github.com/thelooneyfarm/contracts
In my experience it is not that much of an uphill battle to start, it is quite similar to the stuff devs do in their normal dayjob.
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That smart contract was written by a person and they should realize that there might be legal repercussions in the US at least. I have a great interest in this space (I started a failed cryptocurrency options exchange myself) and I hope that it blossoms. I would like to see regular puts and calls instead of binary options, the latter is ill-suited for hedging and really just a speculative instrument.
>That smart contract was written by a person and they should realize that there might be legal repercussions in the US at least. Satoshi Nakamoto created the world's most powerful cryptocurrency and nobody knows anything about that person or group, remember.
That said, this is one of those "holy shit" moments for me. Once a DAC is running, there isn't a damn thing a government can do about it.
Or even its creator. It's like a creature let loose in the wild, or a virus with a checkbook. The mind reels at the possibilities.
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The author created an account to post this "french houdini". Maybe it was Satoshi!
That would be amusing, but I do hope the author has taken a lot of care to keep him/her/themselves hidden. Angry bankers are not toys you want to play with. I have always wondered if the NSA knows who Satoshi is.