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"A cryptocurrency is only as reliable as the technology that keeps it running, and Ethereum is learning this the hard way. An attacker has taken an estimated $60 million in Ethereum's digital money (Ether) by exploiting vulnerabilities in the Decentralized Autonomous Organization, an investment collective. The raider took advantage of a "recursive call" flaw in the DAO's code-based smart contracts, which administer the funds, to scoop up Ether many times in a single pass."

"Once the image was in my Ethereum wallet, I didn't particularly feel like I owned it any more than the other screenshots in my Images file. But I did feel a nihilistic rush - the thrill of abstract money moving around."

"This tulip-mania de nos jours has been happening with cryptocurrencies for a while, but is about to become more frenzied as the notion that blockchain - the cryptographic technology that underpins bitcoin, Ethereum et al - can become the basis for something called Web3: a new, properly decentralised version of the world wide web (as compared with the current version in which control has become effectively centralised in a small number of giant corporations)."

"He never got the chance to find out. A week later, he opened up his digital "wallet," where the artwork would supposedly be available, and was faced with an ominous banner reading, "This page has gone off grid. We've got a 404 error and explored deep and wide, but we can't find the page you're looking for."  The artwork, which he expected to be on the page, had disappeared entirely. "There was no history of my ever purchasing it, or ever owning it," he said. "Now there's nothing. My money's gone.""