Plasma: Scalable Autonomous Smart Contracts

Post by [deleted] » Thu, Aug 10, 2017, 4:51 AM UTC

AlwaysBCoding wrote: post #5

contingencies wrote: post #2

Smart contracts are being suggested as the building block of "autonomous corporations" (implying "do anything!") yet nearly anything meaningful basically has to interact with the real world through agents external to the contract for most business cases. Given this severe limitation, could someone clarify what the whole shebang is supposed to be about? I actually saw Vitalik speak last week or so here in Shenzhen cam…

What about Kickstarter? A $500 million+ company that takes a 5% vig on all transacted funds can effectively be replaced with a few lines of code. If total ETH sent to contract address by date X > Amount Y then send the ETH to the fundraiser, else return the ETH.

Post by InclinedPlane » Thu, Aug 10, 2017, 4:51 AM UTC

AlwaysBCoding wrote: post #5

contingencies wrote: post #2

Smart contracts are being suggested as the building block of "autonomous corporations" (implying "do anything!") yet nearly anything meaningful basically has to interact with the real world through agents external to the contract for most business cases. Given this severe limitation, could someone clarify what the whole shebang is supposed to be about? I actually saw Vitalik speak last week or so here in Shenzhen cam…

What about Kickstarter? A $500 million+ company that takes a 5% vig on all transacted funds can effectively be replaced with a few lines of code. If total ETH sent to contract address by date X > Amount Y then send the ETH to the fundraiser, else return the ETH.

Post by tribby » Thu, Aug 10, 2017, 4:54 AM UTC

AlwaysBCoding wrote: post #5

contingencies wrote: post #2

Smart contracts are being suggested as the building block of "autonomous corporations" (implying "do anything!") yet nearly anything meaningful basically has to interact with the real world through agents external to the contract for most business cases. Given this severe limitation, could someone clarify what the whole shebang is supposed to be about? I actually saw Vitalik speak last week or so here in Shenzhen cam…

What about Kickstarter? A $500 million+ company that takes a 5% vig on all transacted funds can effectively be replaced with a few lines of code. If total ETH sent to contract address by date X > Amount Y then send the ETH to the fundraiser, else return the ETH.

Post by jerguismi » Thu, Aug 10, 2017, 4:55 AM UTC

AlwaysBCoding wrote: post #5

contingencies wrote: post #2

Smart contracts are being suggested as the building block of "autonomous corporations" (implying "do anything!") yet nearly anything meaningful basically has to interact with the real world through agents external to the contract for most business cases. Given this severe limitation, could someone clarify what the whole shebang is supposed to be about? I actually saw Vitalik speak last week or so here in Shenzhen cam…

What about Kickstarter? A $500 million+ company that takes a 5% vig on all transacted funds can effectively be replaced with a few lines of code. If total ETH sent to contract address by date X > Amount Y then send the ETH to the fundraiser, else return the ETH.

Post by [deleted] » Thu, Aug 10, 2017, 5:08 AM UTC

mrep wrote: post #18

AlwaysBCoding wrote: post #5

Earlier quoted context omitted.

What about Kickstarter? A $500 million+ company that takes a 5% vig on all transacted funds can effectively be replaced with a few lines of code. If total ETH sent to contract address by date X > Amount Y then send the ETH to the fundraiser, else return the ETH.

Then why has nobody done that then? It blows my mind how so many people proliferate how useful blockchain companies can be yet despite all of the different blockchains, ICO's..., practically none [1] have taken off because they are technologically and economically worse than current market products and services. [1]: Illegal markets are the only market I have seen that do like it because companies/governments have sp…