[dpark]

The set of people running a service with a revenue of 500k on a personal device must be minuscule and the people doing it almost certainly know it’s stupid.

This is qualitatively different from crypto that allows you to burn your money on accident, while the people who build the infrastructure for this tell you is a smart, safe place to put your money.

[emteycz]

If you wire money to a Nigerian prince, it's gone too. Doesn't mean a bank is not a safe place where to put your money.

[dpark]

Interesting how your example has just completely changed.

But also, wiring money is a thing that laypeople almost never do. It’s nerve wracking to wire money. But the equivalent in cryptocurrency is just how it’s done. Every transaction is just a fuckup with no recourse waiting to happen.

[emteycz]

What's so interesting? I already told you this wasn't a simple missclick. No need to reiterate.

You can dump money into a pit just as easy with the classic banking system. Where I live (EU), wiring money is the primary way of payments and money transfers. People don't use anything else.

[dpark]

> I already told you this wasn't a simple missclick.

Seems like it essentially was. He exchanged ETH for WETH in exactly the same way. Assuming that the reverse would work (as opposed to destroying the money) was not an unreasonable step. He still screwed up, but a design that allows this is user hostile and stupid.

> You can dump money into a pit just as easy with the classic banking system. Where I live (EU), wiring money…

In the US at least, you can get your money back through the legal system. Accidentally dropping your money into someone else’s account does not give them a right to it and for substantial amounts of money people can and do get their money back.

For this amount of money I’d consider pursuing legal avenues against the developers of Etherium. This design seems borderline negligent and Etherium has modified the code at least once already to force a refund.

[emteycz]

Consumer wallet software gives you a warning that this is probably not what you want.

> In the US at least, you can get your money back through the legal system. Accidentally dropping your money into someone else’s account does not give them a right to it and for substantial amounts of money people can and do get their money back.

I doubt this is true in the case of uncooperative out-of-country second party - yeah they have no right to the money, but they don't care and the legal system won't do much for you.

[dpark]

Did this guy get a warning?

I still find the wire transfer comparison lacking, mostly because one shitty design does not justify another.