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backus's profile
John Backus
John Backus
John Backus
@backus

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John Backus

@backus

Seeking alternative compression. Hopefully wrong on average. Shameless. Started @getcognito and @bloom

San Francisco, CA
Joined August 2012

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    John Backus‏ @backus Aug 9

    Me, talking to any computer security professional that will listen to me: > Why aren’t you doing smart contract auditing you maniac?? > People are making like $50k for 4 weeks of work!!

    4:44 PM - 9 Aug 2018
    • 5 Retweets
    • 35 Likes
    • Sam Huleatt Costantino Pistagna Daniel Hwang Jason Tarre 🦇 Frankie / Cesca 🦇 Jake McCarthy Ben DiFrancesco raphanatta Dite Gashi
    6 replies 5 retweets 35 likes
      1. New conversation
      2. Michael Folkson  ⚡️‏ @michaelfolkson Aug 9
        Replying to @backus

        Some people prefer to work on projects for their future impact rather than merely their own personal financial gain. Many of the Bitcoin core developers could have gone this route if they didn't value their reputations.

        1 reply 1 retweet 1 like
      3. John Backus‏ @backus Aug 9
        Replying to @michaelfolkson

        Yea, but these people are almost always mercenaries for large consulting companies.

        1 reply 1 retweet 0 likes
      4. Michael Folkson  ⚡️‏ @michaelfolkson Aug 9
        Replying to @backus

        And those large consulting companies pay them $50K for 4 weeks work? If (and it is an if because I don’t know) they do a lot of work for consulting cos they are still reducing their earning potential by avoiding ICO projects for ethical and/or reputational reasons.

        1 reply 1 retweet 0 likes
      5. John Backus‏ @backus Aug 9
        Replying to @michaelfolkson

        I was saying that the people not auditing contracts are usually at big consulting companies and being paid less. Smart contracts aren’t only for ICOs. Also I don’t think there is reputational/ethical risk for auditing.

        1 reply 1 retweet 1 like
      6. Michael Folkson  ⚡️‏ @michaelfolkson Aug 9
        Replying to @backus

        If you think the project has approx 0% chance of succeeding and people are going to lose tens/hundreds of millions of dollars perhaps you don’t want your name or your company’s brand associated with the project? Especially by profiting from the existence of that project.

        1 reply 0 retweets 0 likes
      7. Michael Folkson  ⚡️‏ @michaelfolkson Aug 9
        Replying to @michaelfolkson @backus

        I’m pretty sure the auditors or consultants of Enron, Theranos etc would’ve preferred to have not been involved/associated with them post hoc.

        1 reply 0 retweets 0 likes
      8. John Backus‏ @backus Aug 9
        Replying to @michaelfolkson

        I'm not really sure what we're talking about at this point. Yeah, if the company was guaranteed bad news then people wouldn't want to be associated. Real life though? Most stuff isn't clear cut. Of course I wasn't talking about doing work for clearly malicious people.

        1 reply 0 retweets 1 like
      9. Michael Folkson  ⚡️‏ @michaelfolkson Aug 9
        Replying to @backus

        I know for a fact some of the Bitcoin core devs think Ethereum is a scam. And therefore projects built on top of Ethereum have to be scams too. You can’t build a business/protocol on top of a scam.

        2 replies 0 retweets 1 like
      10. 5 more replies
      1. New conversation
      2. Stephen ₿‏ @stephenba4 Aug 9
        Replying to @backus

        Where do you find out about this type of work? Currently I'm a software engineer at a consulting firm.

        1 reply 0 retweets 0 likes
      3. John Backus‏ @backus Aug 9
        Replying to @stephenba4

        Companies building on Ethereum are a good bet. Look at companies that employed Trail of Bits or OpenZeppelin. Once you’re in the space, I believe referrals go a long way

        1 reply 0 retweets 3 likes
      4. Stephen ₿‏ @stephenba4 Aug 9
        Replying to @backus

        Thanks for the help!

        0 replies 0 retweets 0 likes
      5. End of conversation
      1. CleanApp‏ @CleanApp Aug 9
        Replying to @backus

        One of the “audits” most needed in the smart contract space are bottom up #legalaudits —https://medium.com/cryptolawreview/contract-law-primer-for-dlt-folks-9b85230f9eb6?source=linkShare-7e3dc6459714-1533876108 …

        0 replies 0 retweets 0 likes
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      1. Sar Haribhakti‏ @sarthakgh Aug 9
        Replying to @backus

        I often wonder who audits the auditing practice of smart contract audit vendors

        0 replies 0 retweets 0 likes
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      1. CloseApproximation‏ @closeapproximat Aug 9
        Replying to @backus

        Good point. Nothing will get done with complex smart contracts until there are good verification systems. I know Digital Assets are working on DAML which they claim will be easily amenable to formal verification methods. Your thoughts on formal verification tools etc. ?

        0 replies 0 retweets 0 likes
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      1. Kacper Wikieł‏ @kacperwikiel Aug 9
        Replying to @backus

        When teams are raising millions of dollars from gullible investors and are desperate to at least not get hacked :D

        0 replies 0 retweets 0 likes
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