We don't even know how pin down a precise set of rules to always make people feel that justice was served in English. This is why we pay humans who, as a full time job, work out what people mean to do and whether what actually happened was what was intended; and who can negotiate and arbitrate between aggrieved parties. How do you expect us to encode in mathematics "common sense" we do not actually understand well enough to describe in plain English? Come back when we've solved AI alignment; I have no doubt we eventually will, but that day is not today, and tomorrow isn't looking good either.
...but crypto is not even attempting to solve that problem. Not even vaguely. The rules in this space are "finders keepers, no takesie backsies", and the participants like it this way (until someone does something that makes them feel aggrieved and suddenly they don't and there is no recourse, by design). No negotiation, no arbitration, no common sense, no human element at all: "you snooze, you lose", and this is the entire selling point.
If you make me choose between having the financial freedom to handle my money without having to trust anyone and only needing to pay attention to what I do with it, or having a nanny that oversees all my finances and coddles me in case I hurt myself but could possibly steal my money, I'll choose the former.
I can understand why one would disagree, though.
What's wrong with having the option to do away with the nanny, again?
...but crypto is not even attempting to solve that problem. Not even vaguely. The rules in this space are "finders keepers, no takesie backsies", and the participants like it this way (until someone does something that makes them feel aggrieved and suddenly they don't and there is no recourse, by design). No negotiation, no arbitration, no common sense, no human element at all: "you snooze, you lose", and this is the entire selling point.