The camera shows night in the Wild West.
A masked man creeps through the shadows of a sleeping town.
He looks both ways, then uses a knife to unlatch a door from the outside. He slips into near pitch blackness. He moves confidently in the darkness - he's worked for this bank before, checking on their security from theft.
Out comes his lock picking tools - the bank president's office door opens with a quick rake. Cheap lock.
Inside, with no windows to betray him, he lights a candle. There in the corner stands the safe. He knows it inside and out, and has been practicing. Five minutes later, the lock is picked, and he loads up the gold, cash, and bonds inside.
He puts the candle out, slips back outside, and returns to his room at the lodging house, climbing in through the window.
The next morning, with the discovery of missing gold, the town looks like someone kicked over a fire ants nest. It only takes 30 minutes before people start wondering about "bank security expert" who had just been in the bank every day.
A crowd heads over the boarding house, growing in size as it goes.
"Did you steal our money?", they ask?
"ABSOLUTELY NOT," he replies, "I merely used my immense mental powers to out hink several flawed physical security measures, breaking no laws of physics, in such a way that the gold, cash, and bonds previously belong to you are now in my possession, and now belong to me. No theft has taken place, only the movement of certain levers, of which anyone who knew how could move, and the movement of afterwords of certain goods."
"So you stole our money!!", the town shouted.
"No, no, I just interacted with the universe according to its very own publicly available rules. No theft has occurred!"
An old cowhand, covering him with double barrel, spoke up, "Walll, guess he's right. We deserved to lose all that money. He did nothing wrong at all."
Everyone left, impressed with his genius.
Yes, running transactions for asymmetric benefit allowed by code on a platform underpinned by a technology whose proponents espouse "code is law" is at all comparable to a man picking a lock on a bank safe. Very astute.
In this case the only person espousing the idea of "code is law" is the hacker. Neither the blockchain's builders, nor the hacked protocol, nor the users are saying that.
"code is law" is a meme that primarily lives on hacker news. Only a tiny fraction of crypto people believe it or say it.
This is revisionist history.
https://www.bitget.com/news/detail/12560604358718
> In April 2016, in Switzerland, the Slock.it team was introducing their ambitious plan: The DAO, a decentralized investment fund governed entirely by code. "Imagine a fund with no board, no CEO," founder Christoph Jentzsch explained, "all decisions are made by token holders through smart contract-based voting. This is the ultimate realization of 'Code is Law'."
https://x.com/VitalikButerin/status/1188511660387889153
Is the "Slock.it team" not a tiny fraction of crypto people?
I find it difficult to believe they're a large majority.
The DAO was not some small, fringe project in the crypto world.
Per Wiki:
> As of May 2016, The DAO had attracted nearly 14% of all Ether tokens issued to date.
Vitalik Buterin is, uh, pretty notable, too.
> The camera shows night in the Wild West.
> A masked man creeps through the shadows of a sleeping town.
> He looks both ways, then
... walks into a casino, realizes there's a flaw in how they shuffle and deal cards, and then makes a shit ton of money exploiting this weakness.
After losing a shit ton of money because they didn't plan for someone to play the game in an unexpected way, the owners of the casino demanded the money back.
"Did you steal our money?", they ask?
"ABSOLUTELY NOT," he replies, "I didn't get any non-public information, I didn't manipulate the deck, and you have yet to point to a single hand that was not played entirely within the stated rules of the game. You're just mad because I noticed that you fucked up and bet accordingly."
They all beat the shit out of the asshole and took their money back.
"There's always another moron tries that one", they laughed as they walked away.
the long arm of the law is just substituting for the long leg of kicking his ass