We can all sleep better now -FinCEN recently launched a series of examinations of cryptocurrency businesses http://bit.ly/1FVzi1O #bitcoin
@prestonjbyrne @iang_fc @haydentiff Fat legal fees and high transaction costs, for example.
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@nickszabo4@prestonjbyrne@haydentiff Yup, cost of litigation is a killer. But it doesn't have to be so. Cf self-ADR http://iang.org/papers/open_audit_lisa.html#arb … -
@iang_fc@NickSzabo4@prestonjbyrne@haydentiff Arbitration still high cost, mediation better. Mediation between DAOs best (#tongueincheek) -
@gl_citizen@nickszabo4@prestonjbyrne@haydentiff which is to say, winner gets the equation right, for at least some niche market -
@iang_fc@NickSzabo4@prestonjbyrne@haydentiff Yes. By automating handling of known known eventualities into smart contract design. -
@gl_citizen@nickszabo4@prestonjbyrne@haydentiff Disagree with your methodology. You have decided smart contracts solve all problems. -
@iang_fc@NickSzabo4@prestonjbyrne@haydentiff Nope, not thinking that. I think smart contracts can enforce some of their terms. -
@gl_citizen@nickszabo4@prestonjbyrne@haydentiff I don't know what it means when software enforces terms… -
@iang_fc@NickSzabo4@prestonjbyrne@haydentiff Well, a payment gateway like PayPal debuting merchant fees is a simple example of that - 3 more replies
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