Vietnamese ICO scammers disappear with $660 million

Those sorts of ‘utopians’ tend to make traditional anarchists and other solidarity-types very sad and/or peevish.

Blockchains can(when correctly implemented and ideally with the silicon burning arms race of proof-of-work dealt with) be an interesting mechanism for cases where there is no trust; either in some authority or in the other parties.

This is modestly alien to current market standards; where one or more arbiters usually do the heavy-hitting norms enforcement(though much of the day-to-day non-fraud is probably cultural); but it’s very, very alien to most premarket or alternative-to-market arrangements of human affairs, where trust relationships have tended to be kind of a big thing. Cue techbros proposing trust-free arrangements as obvious modernizations of trust-based ones; for reasons that probably don’t reflect well on their character.

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