Very cool article. Thanks for sharing.
It's really hard not to draw parallels to the crap early days of other internet based services. I remember in the 90s figuring out really obvious ways to hack into my friends' geocities accounts or even things like gaming early pay per click services. I appreciate your skepticism, and I'm trying not to be stupidly optimistic, but as the article reports: each hack did indeed have a fix. Maybe some of the fixes weren't pretty (i.e. forking ETH and telling everyone to be cool with it
), but in the end the technology gets incrementally better. 51% takeovers of some of the less popular tokens are going to be extremely painful, extremely costly lessons, but the machinery of cryptocurrency will carry on in a slightly more specific form, and at some point a small handful of winning projects (or maybe just one project) will emerge.
One thing that gave me a laugh in the article is the rise of these new auditing technologies for crypto. I mean, crypto nerds used to espouse how projects like Bitcoin would pull humanity completely away from traditional banking and now you need a blockchain based auditing service.
