Yes. If a similar scale thing were to happen in the U.S. banking system, 1% would be 160 billion dollars, not 16.

I'm amazed that otherwise intelligence people really believe this is a better system than fiat currencies + banks.

Microtransactions.

*intelligent

I feel like we shouldn't be expressed in dollars, but in percentage of total funds. In this case 16 million is about 1% of the total. This would be a $16 billion case if the US banking system was the target and used this technology.

That... doesn't make a difference in my mind. Losing 1% of people's money is _very_ unacceptable and worth being laughed at for.

Financial institutions are accurate to tiny tiny fractions of percentage points. Not "eh we got 99% of it right".

Especially when the odds are that it will happen again soon.