Reply to thread

Message

<blockquote data-quote="BadIdeaGuy" data-source="post: 4600489" data-attributes="member: 73381">Okay.Let&#039;s sort through this. (I&#039;m going to do so without resorting to personal attacks. Hope that&#039;s OK with you.)ETH is more secure than any legacy network? Lol. What?Were you here for the DAO hack?No. No Ethereum has a LOT of issues. As someone who can program in Solidity, I can tell you that the security boils down to the programmers, rather than the blockchain. There are SO many pitfalls you can run into. Just because no one has found an ERC20 flaw, doesn&#039;t mean it is secure. It is still massively obscure to most hackers.Second, 120k in a BoA account is FAR more safe and secure than DAI. Hands down, just because of the mechanics.Have you read the MakerDAO whitepaper?The vault makers have priority over DAI holders, meaning that in any sort of emergency shutdown situation, the USD soft peg goes away completely. Hodlers are going to get hurt.So one black swan event for Ethereum, and y&#039;all are in trouble. Massive trouble. DAI is only as stable as the Ethereum or other tokens used to create it.I believe in cryptocurrencies. I just don&#039;t think it is at all fair to treat all crypto like it is the God given answer to everything. It isn&#039;t.</blockquote>

[QUOTE="BadIdeaGuy, post: 4600489, member: 73381"] Okay. Let's sort through this. (I'm going to do so without resorting to personal attacks. Hope that's OK with you.) ETH is more secure than any legacy network? Lol. What? Were you here for the DAO hack? No. No Ethereum has a LOT of issues. As someone who can program in Solidity, I can tell you that the security boils down to the programmers, rather than the blockchain. There are SO many pitfalls you can run into. Just because no one has found an ERC20 flaw, doesn't mean it is secure. It is still massively obscure to most hackers. Second, 120k in a BoA account is FAR more safe and secure than DAI. Hands down, just because of the mechanics. Have you read the MakerDAO whitepaper? The vault makers have priority over DAI holders, meaning that in any sort of emergency shutdown situation, the USD soft peg goes away completely. Hodlers are going to get hurt. So one black swan event for Ethereum, and y'all are in trouble. Massive trouble. DAI is only as stable as the Ethereum or other tokens used to create it. I believe in cryptocurrencies. I just don't think it is at all fair to treat all crypto like it is the God given answer to everything. It isn't. [/QUOTE]

Verification