Ethereum Smart Contracts

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>>2663934
>doesnt understand how money works
then go back to /leftypol/

>>2663966
you can't even answer the question

maybe you ought to put mom's credit card away

>>2663934
I found a whale. Please pump coins.

are Ethereum contracts enforceable in court?

>>2664042
>decentralized, uncontrollable contracts created outside the state
>enforced by the state
what did he mean by this?

It sounds like they intend on using 'oracles' (remote servers with an API) to provide these smart contracts with information about the outside world.

Is it just me or does this sound like completely retarded bullshit? Oracles being hacked, going down, reporting misinformation, etc. Don't tell me it's fucking secure either because it runs in a VM: browsers get exploited all the time by Javascript.

A cryptocurrency should be just that: a currency. I hate this philosophy of trying to pack all these features into one package.

The above combined with the fact that they've had several hard forks due to hacks shows me these guys are a bunch of pussies. I've made up my mind: I'm never buying eth. Enjoy your shitcoin you fucking losers.

>>2663934
The biggest limitation is they only can access information that's already on the chain. Once you want to to fancy shit you need extern information from third parties. Which makes the whole point of decentralized smart contracts somewhat moot.

I think they won't be as useful as many people hope. Most of the fancy shit is just unfit for smart contracts and better for centralized systems.

>>2664279
If said oracles are dapps, going down and reporting misinformation should become less risky. A DAO 2.0 hack though, could be disastrous... but then again, you can just fork eth and roll everything back lol. Actually, I'm only half joking. For institutional investors this is a feature.

>>2664279
Ethereum is a really shitty first attempt at wide scale computing. I think the currency aspect of it is really just a stock for the company and because it can be traded, it will retain some sort of value people are willing to pay for. And it has value because people believe it will go up.

Whether or not Ethereum is good as a currency is almost asking a wrong question. Eth, gas, wei, whatever, is/was designed to be a way of regulation resources between distributed nodes that run code. Mining would be a way of contributing to the network and the reward is more potential resources.

For traders ethereum is a store of value. But from what I get out of the whole project is that ether is a store of potential resources.

By all means, trade a way, there is a shit ton of money to be made. But the bigger picture is that this is a single, slow, start on widespread computing. In the next few decades the field will grow and the technology will change. Eth right now can only handle 10-20 transactions a second. This is synonymous with the giant machines of early computing.

Once a system becomes good enough to run arbitrarily code of arbitrary size, efficiently, we're going to see some massive gains to computer power that we can't even fathom

Eth might turn out to be a meme, but distributed probably wont be.

There's no point to any of it. Bitcoin made it easier to buy drugs without the money being traced to your identity. Why would you pay for something legal with a crypto rather than regular money?

It's a ponzi scheme. Eventually we're all going to try to cash out at the top

>>2664557
Banks literally cream themselves over smart contracts. Google BBVA smart contract