A Crypto User Sent $50k to a Smart Contract. It's Gone Forever
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Re: A Crypto User Sent $50k to a Smart Contract. It's Gone Forever
#2A donation to everyone, deflation
Re: A Crypto User Sent $50k to a Smart Contract. It's Gone Forever
#3From the bottom:
> Still, user mistakes keep occurring with unenviable regularity. In late October, someone sent 28,050 AAVE tokens—worth around $1.1 million at the time—to the wrong address, which resulted in the irreversible loss of their funds. It’s a scary world out there.
Incredible.
Re: A Crypto User Sent $50k to a Smart Contract. It's Gone Forever
#4" Some activities superficially familiar to you are merely stupid and should be avoided for your safety, [..] These include: giving your bank account details to the son of the Nigerian Minister of Finance; buying title to bridges [..] and entering into financial contracts with entities running Economics 2.0 or higher. "
- Accelerando by Charles Stross
Re: A Crypto User Sent $50k to a Smart Contract. It's Gone Forever
#5Why don't these tech support the oldest trick every financial companies have been doing?
They send a cent and see if the recipient received it or not. If the money went through and is secured, then send the rest. Simply by doing this, you could avoid almost all incidents like these.
Re: A Crypto User Sent $50k to a Smart Contract. It's Gone Forever
#6Why don't these tech support the oldest trick every financial companies have been doing? They send a cent and see if the recipient received it or not. If the money went through and is secured, then send the rest. Simply by doing this, you could avoid almost all incidents like these.
People do do that. There's millions of transactions that go through for every one disaster like this.
Re: A Crypto User Sent $50k to a Smart Contract. It's Gone Forever
#7[deleted]
Re: A Crypto User Sent $50k to a Smart Contract. It's Gone Forever
#8It's not 50k (more like $50), but I have a similar story with Stellar.
I was one of the (thousands of?) people who Keybase/Stellar/mysterious parties decided to gift some of their tokens to. I tried to transfer them to a provider with my bank information, and immediately flushed them into /dev/null because I didn't understand the separate sequences of numbers that I was supposed to provide.
I wasn't exactly upset, but it really solidified my opinion of the entire space: as an end user, my single greatest interest is the fidelity of the transactions that I take part in. Tack onto that the constant whirlwind of technical compromises that lack legal recourse, and my feelings of confidence approach zero.
Re: A Crypto User Sent $50k to a Smart Contract. It's Gone Forever
#9I'm never trusting software for two things:
1. Voting
2. Irreversible transactions
Re: A Crypto User Sent $50k to a Smart Contract. It's Gone Forever
#10Why don't these tech support the oldest trick every financial companies have been doing? They send a cent and see if the recipient received it or not. If the money went through and is secured, then send the rest. Simply by doing this, you could avoid almost all incidents like these.
Transactions are often slow and expensive.