Pavlo’s Reviews > Attack of the 50 Foot Blockchain: Bitcoin, Blockchain, Ethereum & Smart Contracts > Status Update
Pavlo
is 21% done
“Burnt investors tracked him down. They found his name, they found where he lived, they even found his business that had closed at the same time. They initially had some trouble convincing the authorities not only that this was really money, but that they had given it to some guy on an Internet forum called “Pirate” on the strength of him saying “sure, I’ll double your bitcoins, no worries.”
— Dec 19, 2024 05:56AM
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Pavlo’s Previous Updates
Pavlo
is 81% done
The price will rise and fall dizzyingly, though realising it as actual money will still be strangely problematic; exchanges will continue to be hacked on a monthly basis. People will continue to lament “if only I’d bought in 2011, I’d be rich!” – though if they had bought in 2011, they’d have lost it in Mt. Gox. Cooler heads will wonder just how much longer this can be kept going.
— Feb 06, 2025 09:57AM
Pavlo
is 65% done
“The good bits of blockchain are not original, and the original bits of blockchain turn out not to be much good.”
— Jan 29, 2025 10:12AM
Pavlo
is 65% done
“‘You can replace the term “distributed ledgers” with “shared Excel sheets” in about 90 percent of talk about blockchain and finance.’
– Tracy Alloway”
— Jan 29, 2025 10:07AM
– Tracy Alloway”
Pavlo
is 65% done
“This illustrated the final major problem with smart contracts: CODE IS LAW until the whales are in danger of losing money.”
— Jan 29, 2025 10:04AM
Pavlo
is 65% done
“The blockchain was ‘immutable,’ so they changed how it was interpreted. The “impossible” bailout had happened.”
— Jan 29, 2025 09:55AM
Pavlo
is 65% done
Since cryptocurrency enthusiasts had already self-selected for gullibility, the very first smart contracts they wrote were chain letters, lotteries and automatic Ponzi schemes. These ably demonstrated «the requirement for coding correctly, first time, every time
— Jan 29, 2025 09:19AM
Pavlo
is 65% done
The eventual fix […] demonstrates the other problem with smart contracts: the “immutable” system containing the smart contract was suddenly considered changeable the moment the big boys risked losing enough money.
— Jan 29, 2025 09:11AM
