If the response when a legal system brings a dispute to blockchain developer is “sorry, we can’t do anything for you”, as it will almost always be under Szabo’s law, then it has two natural reactions (assuming that the legal system believes that the devs can’t do …
Fine for small value transactions. Let’s here what Peter Thiel has to say:
To get people start doing something (new) like that (the requirement is):
- it has to be something where there’s an intense need and
- an instance where it’s not too dangerous
A natural place to start was on the eBay auction site where (there was):
- small dollar transactions maybe $40 was the typical amount and
- if you send check across the country that’s like a 7 to 10 day delay. This delay was because most people couldn’t process credit cards but you could make PayPal payments with a credit card.
Oh wow look at that, Peter seems to make distinctions as to the size of payments on a payment network that make rational common sense.
If PayPal somehow disappears your $40 then its going to suck but not enough that you need to go to a court and whine about it.
Vlad… when you talk about governance in posts like this I’m dumbfounded. Yeah we’ve got to maintain consensus, I get it. Its not easy getting everyone to agree.
But what good is perfect consensus if I can’t use Ethereum as a payment network? I mean seriously… have you ever considered that Ethereum is a payment network for people who want to use it to make new and different types of payments?
So don’t use Szabo’s law for big sums and I think everything will be ok.