You like the idea of smart contracts on blockchains?

Smart contracts are essentially for replacing enforcement of ownership through the legal system (and the state, and violence) with a digital contract ("code is law").

For those who want to put their property on "the blockchain", when illegal immigrants invade and decide to occupy your house, you can throw the Ethereum "smart" contract in their face. That'll show them.

Now that you see the contract doesn't enforce ownership, you still need the law and the state, what was its initial purpose again? Oh, yeah, to replace the enforcement of ownership. LOL.

You see, digital contracts can only enforce digital things. They can never enforce real-world things. They can only prove you paid for something, or prove ownership, not enforce.

A simple contract on paper will do for that. Or a digital database, eg run by the government, the very people you rely on for enforcement of ownership. You don't need it to be "smart" and you don't need it to be decentralised - what are you trying to overthrow? The people you need to enforce your contract.

It's nonsensical to think you can replace the legal system. It is encoded in mountains of text and there are always new exceptions and situations arising. Who are you going to appeal to when a smart contract doesn't encode the subtleties of a new situation? Replacing the legal system with coding nerds is a stupid thing to hope for.

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`For those who want to put their property on "the blockchain", when illegal immigrants invade and decide to occupy your house, you can throw the Ethereum "smart" contract in their face. That'll show them. `

👆

You are completely wrong! When companies are offering services anchored in smart contracts, this paradigm will change.

Bitcoin is paving the way, killing the money printing of the "Legal System". How the "Legal System" will survive without this?

Sadly here on Brazil, we can even have the proof of certain operations. Its usual here to obfuscate the legal processes, Manipulation of data, arbitrary decisions and so on. Proving things isn't enough.

Maybe it works with the addition of some kind of "skin in the game" that can be controlled through the blockchain.

When you lose your keys, or keys become compromised. Code is law and you lost your property.

I think this is why the "Network States" idea, especially the book, is such word salad.

The whole idea seems to ride on somehow having some magical iMmUt4bL3 relationship between real world possessions and tHe bL0CkCh4iN.

Such ethreium.

Where is Shinobi to try shit in your cornflakes?

Oh he’s over on Xitter talking to his bubble who all agree with him about the future of Bitcoin being exactly how he sees it..

Fuck that guy, he's one of the biggest cockheads out there. I think he might have a narcissitic personality disorder, not sure.

Anyway, I did Xweet this and he did complain with a retweet message, despite being blocked, and it was a glorious self-own. I actually retweeted it.

Yeah that sounds like Shinobi.

He thinks he’s the smartest guy in Bitcoin and disproves his own thesis every day he posts.