you can tell what good news this is because the cryptids are fucking shitting about it

Main proponent is Rohan Grey. Today his Twitter is answering the question "what were they thinking" at tedious length to the dumb questions of upset butters, as he explains in small words how issuing currency notes or tokens that you say are money because they're backed by a reserve is a banking activity.

Awesome news. We only need one stablecoin and it’s there aka Bitcoin

Time for armed eth satelites

Funny how these twats only care about protecting Americans financial interests when it helps solidify control to the people who repeatedly fuck over Americans and their financial interests.

​

When was the last time Dai created a global recession and crashed the housing market?

Full text:

Tlaib, García and Lynch Introduce Legislation Protecting Consumers from Cryptocurrency-Related Financial Threats December 2, 2020 Press Release

WASHINGTON—This week, Congresswoman Rashida Tlaib (MI-13), along with Congressmen Jesús “Chuy” García (IL-04) and Chairman of Task Force on Financial Technology Rep. Stephen Lynch (MA-08), introduced the Stablecoin Tethering and Bank Licensing Enforcement (STABLE) Act, which would protect consumers from the risks posed by emerging digital payment instruments, such as Facebook’s Libra and other Stablecoins currently offered in the market, by regulating their issuance and related commercial activities. Digital currencies, whose value is permanently pegged to or stabilized against a conventional currency like the dollar, pose new regulatory challenges while also represent a growing source of the market, liquidity, and credit risk.

The STABLE Act would remedy some of those challenges at a time when the COVID-19 Pandemic has exposed numerous barriers to accessing and utilizing mainstream financial institutions, leaving many to look to the financial technology sector to meet the financial servicing needs of low- and moderate-income (LMI) consumers for everything from faster direct payments, access to loans, and even access to bank accounts. LMI consumer vulnerabilities could be exploited and obscured by bad actors looking to issue stablecoins, like other shadow money issuers in the past. For Tlaib, García, and Lynch, that threat coupled with the financial strains posed by the ongoing pandemic requires urgent action, including passage of the STABLE Act that would:

• Require any prospective issuer of a stablecoin to obtain a banking charter;
• Require that any company offering stablecoin services must follow the appropriate banking regulations under the existing regulatory jurisdictions;
• Require that any company or bank issuing a stablecoin to notify and obtain approval from the Fed, the FDIC, and the appropriate banking agency 6 months prior to its issuance and maintain an ongoing analysis of potential systemic impacts and risks;
• And require that any stablecoin issuers obtain FDIC insurance or otherwise maintain reserves at the Federal Reserve to ensure that all stablecoins can be readily converted into United States dollars, on demand.

“Getting ahead of the curve on preventing cryptocurrency providers from repeating the crimes against low- and moderate-income residents of color that traditional big banks have is—and has been—critically important,” Congresswoman Tlaib said. “From the OCC to the Federal Reserve to those peddling stablecoins, the protections the STABLE Act would make possible are more needed than ever amid a pandemic that will breed riskier financial decisions out of necessity because our federal government continues to fail us all by not providing adequate relief legislation. I thank Congressman García and Chairman Lynch for co-leading this important effort to see these protections made a reality.”

“Working class communities like mine in Chicago already face tremendous barriers to accessing financial services and credit. The Trump administration’s deregulation of our financial system has opened the door for tech companies to consolidate their power by preying on people of color with products that promise inclusion but only undermine our banking system,” said Congressman Jesús “Chuy” García. “That’s why I’m proud to introduce the STABLE Act with Reps. Tlaib and Lynch to ensure that new financial tools like stablecoins have proper oversight and protections. Congress must ensure that new financial technologies and payment tools do not prey on vulnerable users. The STABLE Act does just that--it embraces innovation while also protecting consumers.”

“The STABLE Act is a concrete step toward protecting Americans’ finances and ensuring safety and soundness in financial institutions,” Rep. Lynch said. “Stablecoins present a new and innovative way for consumers to use their money and I believe this technology can be used to make financial transactions more efficient while potentially increasing financial inclusion. However, adopting new technology has its risks and I give great credit to my colleague, Rep. Rashida Tlaib, for recognizing and addressing the need for appropriate consumer protections. In the STABLE Act Rep. Tlaib ensures that our financial regulators have the necessary tools to protect consumers. We cannot outsource the issuance of American currency to private entities and the STABLE Act guarantees that our regulators will be able to effectively oversee the application of this new technology.”

Facebook has attempted to take advantage of the financial exclusion and gap in the market—just one of the actors that have pursued issuing stablecoins by pegging them to a basket of major conventional currencies. JP Morgan, Apple, and Paypal/Venmo have also considered issue their own stablecoin variants that also have the potential to take advantage of unbanked and underbanked communities. Many of these stablecoins inherently represent a promise that, without regulations, there is potential for disparate impact, “predatory inclusion,” “digital redlining,” and the “color of surveillance,” as consumer advocates have warned.

Some of the foremost consumer advocacy organizations, including The Public Money Action, The Law and Political Economy (LPE) Project, Consumer Reports and Americans for Financial Reform, have endorsed the STABLE Act.

“The STABLE Act is a forward-looking bill that embraces digital payments innovation, while simultaneously ensuring that the our money remains safe, secure, and properly regulated,” Willamette University College of Law Assistant Professor Rohan Grey said.

"By extending federal banking regulation and consumer protections to cover new forms of ‘deposits’, the STABLE Act addresses the growth of ‘shadow payments’ and ‘shadow banking’—forms of financial activity that merit robust, preventative, and comprehensive regulation regardless of their specific legal and technological design,” Public Money Action Director and Yale Law School Associate Research Scholar Raúl Carrillo said. “Even more importantly, the STABLE Act shuts the door on Big Tech companies like Facebook that are trying to enter the banking space without following the appropriate rules or conducting business on a level playing field."

"The STABLE Act establishes appropriate oversight of issuers of stable coins," said Consumer Reports Manager of Financial Policy Christina Tetreault said. "It's an important step in establishing coherent federal oversight, supervision and regulation of digital financial instruments."

"Tech companies are promoting unregulated ‘stablecoins’ that compete with the U.S. dollar and regulated banks by promising customers they can't lose money on their investments,” Americans for Financial Reform Policy Director Marcus Stanley said. “These stablecoins are insured deposits in all but name. The STABLE Act would bring an end to this evasion by ensuring that companies that guarantee customer deposits are properly regulated as insured depository banks.”

“This is the first comprehensive attempt to offer regulatory clarity for the defense of the U.S. dollar in digital form, and places America among other world countries as a leader in digital assets.” said Value Technology Foundation President and CEO Jason Brett.

Tlaib and Lynch previously led a letter cosigned by García to the Acting Comptroller of the Currency (OCC) Brian Brooks blasting the bureau’s unilateral actions in the digital financial activities space, including interpretive letters on cryptocurrency custody, stablecoins, and its announced plans to start offering special purpose ‘payments’ charters, without protecting the financial system and consumers from the related increase in systemic risk.

A one-pager on the STABLE Act can be found here (link on page).

But stable coins are decentralized like Dai, how they can stop it ? Like China govt making citizens illegal to hold any stable coins ?

Smiles in dai.

“Booooo. Boooooo Wendy Testaburger, Boooooo”

Stablecoins are for pussies

rEGulAtIoN is GoOd guYS

It’s trash. Nothing stopping people from using xchf or another fiatcoin

The senator wants them to get a banking licence ? LOL. GOOD LUCK GETTING DAI TO HAVE A 'LICENCE' .. LOL.

Good luck on stopping DAI.

Submission statement A bill is presented that among other things requires approval six months ahead of time to issue stablecoins from the Federal reserve. All entities issue stablecoins will also have to follow similar or the same regulations that a bank would follow. Truly appears the camel is attempting to get its nose inside the tent on this one.

Repost

What about the 97% of our current money supply that's all digital? Do those zeros and ones get to mean something?

Sell your crypto while you still can. Central banking is the #1 most powerful thing in the universe. They will NEVER give that up, especially to a de-centralized currency like BTC.

Remember that most of the developers working on bitcoin are part of "Blockstream" which is owned by the Bildeberg group.

You have been warned. Watch the HOARDS of shills invade this thread, and make your choice accordingly.

[Meta] Sticky Comment

Rule 2 does not apply when replying to this stickied comment.

Rule 2 does apply throughout the rest of this thread.

What this means: Please keep any "meta" discussion directed at specific users, mods, or /r/conspiracy in general in this comment chain only.

I am a bot, and this action was performed automatically. Please contact the moderators of this subreddit if you have any questions or concerns.

STABLE Act would:

• Require any prospective issuer of a stablecoin to obtain a banking charter;
• Require that any company offering stablecoin services must follow the appropriate banking regulations under the existing regulatory jurisdictions;
• Require that any company or bank issuing a stablecoin to notify and obtain approval from the Fed, the FDIC, and the appropriate banking agency 6 months prior to its issuance and maintain an ongoing analysis of potential systemic impacts and risks;
• And require that any stablecoin issuers obtain FDIC insurance or otherwise maintain reserves at the Federal Reserve to ensure that all stablecoins can be readily converted into United States dollars, on demand.

​

This is SO GOOD for Tether.

Bitcoin is a tree.........the Bitcoin Blockchain is the god damn Amazon.

Snapshots:

1. Rashida Tlaib introduces STABLE Act - archive.org, archive.today*

I am just a simple bot, not a moderator of this subreddit | bot subreddit | contact the maintainers

I read that Facebook might have contributed to this bill to keep competition out. FB would be able to afford the compliance - others not. Market share win for Libra/Diem.

As it currently stands to be a stable coin issuer or you have to be either a trust company, have a trust company backing an issue in your stable coin and holding the Fiat, and you have to have a money transmitter license in every state in which you do business. A State Bank charter still only allows you to hold the Fiat in that state and you have to get a money transmitter license in every other state. A federal bank charter is actually the only existing legal way in order to legally have stable coins. So they're not actually asking for anything that doesn't already exist. Am crypto lawyer, currently actively working on issuing two legitimate legal stable coins for companies. Teach class at law school on crypto and financial institutions.

Sounds like a bill a terrorist would write up

I think that is not necessarily bad. Look at Tether. There should be some kind of regulation on stable coins. But approval from FED? LOL. The only one they will approve will be their CBDC

Crazy bill. Suggesting that nodes can be liable for the blocks they publish?

That is exactly the attitude of EU lawmakers with their new laws wanting to make websites like facebook and youtube liable for the content that their users upload. It's absurd.

So, if a filecoin user has illegal content, does that make all nodes liable for that too?! madness.

I am not against regulation of the stablecoin industry, it does need it and will happen, but this kind of bill is not the way. They should be making NEW charters for crypto, not applying legacy banking rules to it.

Couldn't Bill keep to focus on putting nanochips into humans? /s

This is where I probably make myself look stupid but what the flying fuck does race have to do with this law?????

They say that it is to protect people of colour..... Wtf so white people are so much better than everyone else that they don't need protecting? Why did race even have to be brought up in this bill???

Please these are genuine questions. Perhaps there is some history here that someone can explain to me.

Money is might and might is money. The people currently controlling money fear they will loose their might. That's why they come up with this not because of "low- and moderate-income residents of color".

So hopefully this bill will never be adopted. If it will, as by experience, the US will enforce it on all individuals and companies, independent of their relations or none relations to the USA.

Then the question will be if DAOs like Maker can continue to operate even if this violates this law.

Good luck enforcing it

Fuck me

Submission statement: this legislation, ostensibly directed at stablecoin issuers, could have wide-ranging effects on the chains themselves.

The primary architect of the law has already said that nodes acting on the contracts could be subject to liability.

Given that Cardano is constructed to be decentralized, but only have a few (1000-2000) PoS nodes, this could be an issue. Any which are located in the US would potentially be covered. Also, due to the unique nature of Cardano nodes, they may be relatively easy to find by motivated regulators.

And there justification is... racism

“Getting ahead of the curve on preventing cryptocurrency providers from repeating the crimes against low- and moderate-income residents of color that traditional big banks have is—and has been—critically important,”

https://tlaib.house.gov/media/press-releases/tlaib-garcia-and-lynch-stableact

Blur her face plz thx

Dear lord that’s an unattractive woman

The fed is scared of cryptocurrencies, and this is their attempt to retain power as stable coins and bitcoin threaten. This bill would do the furthest thing from aid the underbanked. This allow bankers to continue to take advantage of others and line their own pockets. It will do the exact OPPOSITE of everything it claims. Rashida Tlaib is a fool

Overall it makes sense the FED would want some oversight on such instruments since things like USDC are just an abstraction of the US Dollar to collateralize an ERC20 token. Coinbase and others would be made to hold a reserve account with the FED like any other bank under these meta-Dollars. Its not much of a stretch since exchanges like Coinbase are already functionally a bank already.

It is interesting however that clearly the incumbent monetary system isn't fighting this technology anymore and are in their own ways adopting it. I can see a situation where every bank issues their own Dollar stablecoins that bypass the nighmarish maze of proprietary, ancient systems like Swift and ACH, coming to totally replace the old Dollar standard completely eventually.

I wish them good luck regulating algorithmic stables like Dai though.

wont work for DAI or USDT lol

And guess who would benefit most from this type of regulation. Facebook is in a great position to get a charter and has plenty of money to back their own currency. Facebook probably wrote this bill.

What’s the argument as to why?

“Digital currencies, whose value is permanently pegged to or stabilized against a conventional currency like the dollar, pose new regulatory challenges while also represent a growing source of the market, liquidity, and credit risk,” the press release said.

The 18-page bill would specifically require stablecoin issuers to obtain a banking charter; require approval from the Federal Reserve, Federal Deposit Insurance Corporation and bank regulator to issue a stablecoin; require those same entities to conduct an ongoing analysis of any systemic risk; and require issuers to have FDIC insurance or maintain reserves for easy conversion back into U.S. dollars.

Fuck that. Two fucking stupid democrats trying to regulate crypto. Imagine that. Where’s Brad Sherman’s dumbass???

Here comes the regulation haha. Don’t like tlaib AT ALL but there does need to be some more FDIC insurance and stability in crypto if we really want to see it take off and challenge the current financial system

For someone who loves reading technical write ups like this, is there a guide on how to get to a point where I’m doing this kind of work full time? I work as a software engineer and do RE challenges in my down time but would love to get to a point like this - developing and researching hardware/middleware exploits. Is it just as simple “keep learning till you get noticed?”

Now this is an exploit writeup!

it sai odyC so dous taht meen c00lst4r???

we gunna hak coalstaur wit dis? 😂

Bruh is this real

Tech Enthusiasts vs Software engineer vs Security Professionals

Good lord, this is excellent work.

The second research paper from the SEEMOO labs team demonstrated an attack to enable AWDL using Bluetooth low energy advertisements to force arbitrary devices in radio proximity to enable their AWDL interfaces for Airdrop. SEEMOO didn't publish their code for this attack so I decided to recreate it myself.

This can likely be used to exfiltrate data. I understand now why people leave their phones home when they go to Defcon.

The title really doesn't convey the Herculean efforts of the author in figuring this all out. It was literally months of finding multiple exploits, chaining them together, and improving them, to get to the endgame.

The term "hacker" is thrown around way too easily today, but the author is a real hacker in the true sense of the word, and I salute him and bow before his abilities.

Does Apple pay Google for finding these exploits?

I'm not even half way yet, I'm like a quarter of the way in, but i love the 'By the way, here is what i though must be a bug but is actually an unfixed memory leak I encountered while figuring out where to drop the payload'

It's almost perfect apart from one crucial point; how can we free these allocations?

Through static reversing I couldn't find how these allocations would be free'd, so I wrote a dtrace script to help me find when those exact kalloc allocations were free'd. Running this dtrace script then running a test AWDL client sending SRDs I saw the allocation but never the free. Even disabling the AWDL interface, which should clean up most of the outstanding AWDL state, doesn't cause the allocation to be freed.

This is possibly a bug in my dtrace script, but there's another theory: I wrote another test client which allocated a huge number of SRDs. This allocated a substantial amount of memory, enough to be visible using zprint. And indeed, running that test client repeatedly then running zprint you can observe the inuse count of the target zone getting larger and larger. Disabling AWDL doesn't help, neither does waiting overnight. This looks like a pretty trivial memory leak.

Yet another reason to remain firmly planted at home

the first sentence on the website:

NOTE: This specific issue was fixed before the launch of Privacy-Preserving Contact Tracing in iOS 13.5 in May 2020.

"Exploits are the closest thing to "magic spells" we experience in the real world: Construct the right incantation, gain remote control over device."

This quote stood out to me, great stuff all around.

wow interesting

Looks like Ian’s been busy!

Just disable Airdrop and this hack doesn't work

Excellent write if you ask me! Loved reading this

Not sure why its still on pending moderation!

I wish I understood anything of this article. Great job!

1 step closer to the watch dogs universe

NOTE: This specific issue was fixed before the launch of Privacy-Preserving Contact Tracing in iOS 13.5 in May 2020.

In this demo I remotely trigger an unauthenticated kernel memory corruption vulnerability which causes all iOS devices in radio-proximity to reboot, with no user interaction. Over the next 30'000 words I'll cover the entire process to go from this basic demo to successfully exploiting this vulnerability in order to run arbitrary code on any nearby iOS device and steal all the user data

Fuckit, im getting a PinePhone.

Does anyone know a place where i can read about microcontrollers in the same detail, like what happens when a stm32 or for example 8086 processor boots up? In the utmost detail, all the instructions it executes and peripherals it uses. Truly touched

This would be so much fun

Whoever wrote this or the team behind this, i love you all, i tried my best to decipher whats written, despite my electronics bckgd, i got almost nothing, it makes me realize that people who work really hard ultimately reach that point they wish, i will be keeping a printed copy of 'this' in my back pack and just toss around some pages when i feel i dont wanna study or something. You truly have been an inspiration sir.

Might be a while ... They’re all salty

Well, Crypto exchange is technically a bank as they just received bank status. But I think other traditional bank will be next.

Facebook Nova

All the people in the big names own bitcoin. When it comes down to it we are all single people with keys. Funny thing is I know these big names mean nothing to bitcoin. They know it and some of them want it gone it messes with the way they run things.

​

​

stack sats.

Buffett will likely buy a mining company to indirectly be involved with BTC. Like he did with gold.

I was sure microsoft accepted bitcoin at one point, too lazy to find the link

BoA is partnered with Ripple

Goldman Sachs Asset Management

Banks

I’d say Buffett is already in.

this was just posted

Makes sense. Only a handful of exchanges have OTC desks big enough to make that trade possible.

They did it OTC or what? Cuz coinbase wouldve probably taken like $10mil in fees just to do that tbh lol

Tell that to my crypto wallet

Welcome to r/patient_hackernews! Remember that in this subreddit, commenting requires a special process:

1. Declare your intention of commenting by posting a pre-comment containing only the single letter R. (This pre-comment will not be visible to others.)

2. Wait 24 hours or more (you will receive a reminder).

3. You can then post a new comment with your actual reply in the same location.

Comments that don't abide by the 24h delay will be automatically removed.

NOTE: since step 3 is not mandatory, pre-comments can also be left as a way to set up a reminder to check up on the discussion in 24h.

More information on how this forum works.

I am a bot, and this action was performed automatically. Please contact the moderators of this subreddit if you have any questions or concerns.

There is a discussion on Hacker News, but feel free to comment here as well.

I don't get it. Coinbase ATH of Bitcoin says 19889 but it didn't get past that point. How?

Moved to megathread: https://www.reddit.com/r/CryptoCurrency/comments/k3z5k2/megathread_bitcoin_btc_hits_all_time_high_against/

I move that we deem this Cypher Monday.

Or Hyper Monday. It must be commemorated.

didn't think I would be emotional on a day like this.

feelsgoodman.jpg

Next destination is?

Congrats to all the hodlers, it's been an honor, truly a historic day!

I think we are going to spend some time in this range. Lots of people want off the train and the break even point was their exit. Mine is my cold hard death. Nobody is taking my crypto from me. And I will continue investing 1-5% of my paycheck into it.

I also started growing some of my own food, and all money I save doing that is guilt free crypto money. Same thing if I say, don't buy beer for the week and instead just drink tea. Thats another 50 bucks for crypto - guilt free because that money was gone if I bought beer with it. When you invest in it this way, it makes it less emotional. I would rather it not go to zero, but if it did, the only thing I lost was a few pounds of beer weight because I'm healthier now.

So that's my plan. Stop trying to play the market - which is based 90% on emotion. And just buy and hold, with guilt free money that I saved by making other cuts in my life, or taking on an extra shift or side hustle gig, etc.

I think we hover around 20k for a while until anyone who wants off the train gets off, and they are replaced by people who are now buying into their ground floor and are holding long. Every day that goes by, the floor gets more and more solid. Even if we pull back and people panic sell, there is someone else on the other side of that trade who is buying. Even if 80% of those buyers eventually sell, but 20% are holding long, then every trade that goes by, more and more people are holders ajd less and less becomes available to the late comers.

And every time the governments drop trillion dollar bailouts or stimulus packages, the use case just gets that much stronger. When you zoom out to a 5, 10, 20 year timescale or longer, no buy made today will look like a mistake. The only mistakes will be those who didn't hold any, or those who got scared.

HODL was made to be seen as a meme by the weak hands of 2018. HODL is the only longterm strategy that works and has been battle tested and holds true.

Listening to “star man” right now on repeat lmao

hahahahahahahaha!

bwahahahahahaha!

that is all.

Fucking hell guys I'm getting emotional, for real.

I just have one thing to say, the pain was worth it.

Onwards!

I just have one thing to say, the pain was worth it.

Onwards!

We're going to continue to see a lot of growth, both driven from the institutional side and the appeal to new adopters. I'm interested to see what happens to Ethereum in the coming weeks with ETH 2.0 rollout starting tomorrow officially. Good luck to everyone!

This makes the pain of 2018 / 2019 worth going through.

Congrats to all.

Now let's make $20K a new floor when we get there.

Let's goo buy and push to 20k

What a Crazy year

How I feel right now...

$BTC: New Bitcoin ATH on a few exchanges

K̵r̵a̵k̵e̵n̵ ̵-̵ ̵$̵1̵9̵,̵6̵6̵0̵ ̵B̵i̵t̵s̵t̵a̵m̵p̵ ̵-̵ ̵$̵1̵9̵,̵6̵6̵6̵ ̵B̵i̵n̵a̵n̵c̵e̵ ̵-̵ ̵$̵1̵9̵,̵7̵9̵8̵

Up next: Coinbase - $19,891 Bitfinex - $19,981 Gemini - $19,999 Bitmex - $20,093

FIRST. Here we go baby. I'll try not to get emotional but a lot of us have been waiting for this.

I wonder if this bypass exploit affects Trezor devices as well. Does Trezor currently allocate separate private keys to separate coins for BTC Testnet vs BTC mainnet described in BIP144?

Also, what about other similar cryptos like Litecoin? Considering that this attack was first performed on the Ledger's LTC app https://monokh.com/posts/ledger-app-isolation-bypass which makes it look like a Litecoin transaction was initiated but infact spends Bitcoin UTXO's.

I've read through the referenced BIP144's Coin type constant and I was wondering if Trezor already implements this.

I never mess with testnet. Am I good?

Recent podcast with some of the OG Cypherpunks: Szabo, Back, Chaum.

The history of Cypherpunks until now here, in a great mini series of reason TV

.

Why doesn't he just read the white paper?

https://bitcoin.org/bitcoin.pdf

Or watch this:

The Trust Machine:

https://www.youtube.com/watch?v=ZKwqNgG-Sv4

1. It's hard to make easy money when you have no BoJ tail wind blowing, ey?
2. Him not uderstading Bitcoin is a bit of a supprise to me though. He was one of the first to recognise good players in the tech industry. Currently he is also responsible for investing in tech through SB's Vision Fund.
3. Are there any good investments he made in the last decade? (honest question)
4. Short Softbank'S Vision Fund?

P.S.: Those are the types of people that will be transfering their wealth to coiners in the near future.

I have respect for this position. Being aware of the limits of your expertise is hugely important.

He gets it bro he bought high and sold low... that’s our motto

Old man not understanding new technology, any other breaking news today?

ripple is the future

How exactly is he a retard here?

1% is nothing.

Love peter. He would prolly receive Nobel prize for the worst bear on bitcoin once bitcoin goes global

Bullish on fox news bearishness

Golds the final boss, and may be its best friend. Wait until we find out we can only make efficient circuits to mine only using the best materials like gold and silver.

Wait, what?

Gold has gone from about $1,750 to $1,870 in the past 6 months, a rise of less than 10% - in that time, BTC has gone from $9k to today's $18,000...

I'm no math whiz, but...

This gave me a good laugh. ;)

Hello, your post was removed because your account is less than 50 days old or you do not have the required 500 comment karma to make post submissions.

This gave me a good laugh.

"Notably, Binance Pool is the only top-five pool to not yet support Taproot."

Binance may refrain from publicly signaling the upgrade, considering there are currently some money laundering court cases against them. Though I'm sure they will upgrade when the time comes.

Yes majority is good news. That's a good update. I hope it lives long :)

majority isn't a meaningful threshold in bitcoin. this ain't no democracy.

I see coindesk, I downvote.

Great news for Bitcoin! I think we'll reach that 95%, there's not really any downsides to Taproot AFAIK.

End of Monero.

Need to get to 95% though, only about 55% right now.

Mod please delete

Whatever you do. Don’t contact this jamoke. There’s no way he will grow your BTC

Mods

"liquid assets"

liquid assets

Lol. As if bitcoin is liquid.

Even if you do manage to convert back to fiat without the exchange "getting hacked", the market is so thin that a sell of that size will cause the price to plummet substantially.

Everyone post their wallet addresses and hope he sends us something .

Don't worry, there are enough coins for all billionaires. It is just a question of price.

Bitcoin / Cryptos are NOT a safe haven against the mother of all Ponzi scheme's (Fiat Currencies)

(It's a damn mouse trap, bring your fiat & win some imaginary fiat, same fiat, but poof, the paper is GONE!)

Today the #s say one thing, tomorrow it will say something entirely different. (Read Casino!)

And the second richest person in my household and I also have 10% btc assets.

Aiming to be the first!

Time to start learning Spanish, muchachos! /s

Watch out Carlos Slim!

This guy's going to the moon and not even your crappy NYT paper will stop him!

Soon he will be Mexicos richest man

Smart man.

Anddddd you butters still have no coins ? What are you ? Thieves of your own wallets ?

Why does every "smart" and "rich" guy always buy when the price is up? Do they sell low? Where can I find news saying rich people bought bitcoin at 3k?

Please god, I hope this doesn't trigger Carlos Slim to fomo BTC to $20k+

If this pyramid scheme doesn't die like r/buttcoin predicted many times, and early adopter butters become the new wealthy elite, I will have to kill myself. What a nightmare.

Trees grow to the sky! To the moon!!

Is there another ponzi in history which crashed and recovered 80-90% of its value multiple times over its lifespan, and was still running after more than 10 years? I don't understand this ponzi, how does it still exist?

Sounds like he bought 50k+ BTC

What about muh transaction fees? Muh 5 TPS? Muh shopping mall?! Muh crimebux

Clearly these billionaires don't know what the fuck they're doing.

That's like $1.2B worth of BTC. Growing quickly, of course.

This is HUGE!

Snapshots:

1. Second richest billionaire in Mexic... - archive.org, archive.today*

I am just a simple bot, not a moderator of this subreddit | bot subreddit | contact the maintainers

another tweet decrying government-issued fiat as being “worth nothing”

Is this Mexican billionaire a member in this subreddit? What's his user handle? ;-)

It's happening

The fundamentals of Bitcoin are excellent. Everything indicates that the new ATH will be reached in the coming weeks.

Excellent write up. TL;DR:

• Addresses with a balance of $10 or more
• Open Interest on the CME Bitcoin Futures
• Realized Capitalization
• Bitcoin Options Open Interest
• All time highs have been passed for Bitcoin priced in Turkish Lira, Argentine peso, the Russian ruble, the Venezuelan bolivar, the Brazilian real, the Colombian peso, the Lebanese pound, the Sudanese pound, and several others.
• Bitcoin held by Grayscale
• Stablecoin free float
• Silvergate’s Settlement Network transfers
• Growth of crypto-native credit

I find realized market capitalization particularly interesting as a better measure of a coins worth than nominal market capitalization. Id be curious to know what bitcoin dominance is on the measure of realized capitalization.

Very good read ! A nice summary of the state of crypto-industry :)

This piece is written assuming little prior knowledge of Bitcoin. It's designed to be sent to journalists and folks with finance experience wondering why Bitcoin is rallying with apparently limited retail participation.

https://twitter.com/nic__carter/status/1328697244766310407

​

Hello, your post was removed because your account is less than 50 days old or you do not have the required 500 comment karma to make post submissions.

I do agree that they want to but I am not sure that they can without impeding public trust

He' right but the wrong way around. Bitcoin will Government (at least their financial system)

A attack on bitcoin is a attack on the free market.

It's going to be like the war on drugs. Never ending, cost a shitton of money. And more users than ever.

Ray Dalio is a dipshit

This is so cool, but also I think the primary application is going to be making us need new devices that can hardware accelerate it, making even more DRM, moving more stuff to the cloud, etc.

Also more than likely Ethereum style stuff that runs every program on thousands of nodes, which will then be the next big thing integrated with every P2P app...

I'm sure there's going to be a lot of great uses, but also some really annoying ones.

/r/titlegore

What a crap article.

We already do what's supposedly so great with this "crown jewel" (wtf).

Interesting

Time to make offline backups of what's been discovered so far before it mysteriously disappears...

Hi Jason_Protell, your submission has been removed for the following reason(s):

It has a sensationalized, editorialized, or biased headline and is therefore in violation of Submission Rule #4. Please read our headline rules and consider reposting with a more appropriate title.

If you feel this was done in error, or would like further clarification, please don't hesitate to message the mods.

Interesting

Great read!

Oh Fuck..!

Ah yes, just like Time AI - sounds like snake oil to me. I read most of it and it's just garbage vague statements. If they're gonna publish an article on technical stuff they should try to take these complex ideas and make them understandable to non-math experts. Even for math experts, this reads like nonsense.

So, from the sound of it, this would be usable for DRM which would be much more difficult or actually impossible to break.

I'm not enthusiastic about that.

Is there a slightly more technical article anywhere? I can't really understand what's going on from this oversimplification.

And we'll all come back here in 3 months when these scientists die from strange but absolutely normal circumstances

This is really bad news for antivirus scanners and cleaners....

unhappy day for governments around the world who want to ban end to end encryption

So we good then?

While the protocol is far from ready to be deployed in real-world applications, (...)

If something isn't ready for real-world application yet, in 9 out of 10 cases it actually means the military of at least several nations is using that something in covert ops.

Bitcoin is a patchwork of tech which already existed and was used for various civilian purposes. Had Bitcoin included in its workings some really exotic tech not yet declassified for civilian use, Satoshi Nakamoto would've been suicided long time ago before any of its source code ever left his computer.

I Honestly

Have no clue what I just read, what this actually means, or what any real practical implementations are

And I can't tell if it's because this is too vague or I'm not familiar enough with the terminology

From the paper:

In this work, we show how to construct indistinguishability obfuscation from subexponential hardness of four well-founded assumptions. We prove:

Theorem (Informal). Let τ ∈ (0,∞), δ ∈ (0, 1), ǫ ∈ (0, 1) be arbitrary constants. Assume sub-exponential security of the following assumptions, where λ is a security parameter, and the parameters ℓ, k, n below are large enough polynomials in λ:

• the SXDH assumption on asymmetric bilinear groups of a prime order p = O(2^λ),

• the LWE assumption over Z^p with subexponential modulus-to-noise ratio 2^k^ǫ , where k is the dimension of the LWE secret,

• the LPN assumption over Z^p with polynomially many LPN samples and error rate 1/ℓδ, where ℓ is the dimension of the LPN secret,

• the existence of a Boolean PRG in NC0 with stretch n^(1+τ),

Then, (subexponentially secure) indistinguishability obfuscation for all polynomial-size circuits exists.

Further, assuming only polynomial security of the aforementioned assumptions, there exists collusion resistant public-key functional encryption for all polynomial-size circuits.

Attempting to translate:

the SXDH assumption on asymmetric bilinear groups of a prime order p = O(2^λ),

SXDH = Symmetric External Diffie-Hellman assumption. This assumption is that there is some pair of cyclic groups G_1 and G_2, such that there is an efficiently computable bilinear map from G_1 X G_2 -> G_T while the 'easiest' variant of the Diffie-Hellman problem is intractable across both G_1 and G_2. The 'easiest' variant, called DDH is to, given a generator element g and the two values g^x and g^y, with x and y unknown, have a decision procedure which is better than chance at guessing the value of g^xy. (This entails the discrete logarithm problem being intractable, as well as the weaker CDH assumption; both other those are explicitly but redundantly called out in the definition of SXDH. One other variant of the DH problem also needs to be intractable, co-CDH. I'm pretty sure, though not certain, that the truth of co-CDH is also entailed by DDH.)

• the LWE assumption over Z^p with subexponential modulus-to-noise ratio 2^k^ǫ , where k is the dimension of the LWE secret,

The LWE assumption is the assumption that the Learning With Errors problem is intractable. This is the problem of discerning the coefficients of a linear function f over a finite ring (Z^p , here), given a set of (x^1 ,...x^j , y) samples where y_i = f(x^1_i ... x^j_i )+σ_i where σ_i is a noise parameter whose values are 0 with high probability and follow a known noise distribution. In this case that distribution's total noise (averaged over all samples, I think?) is known to be less than p/((2^k )^ǫ ), ǫ being one of the arbitrary parameters from the non-inclusive unit interval.

Some other sources I looked at said that LWE specifically mandates Gaussian noise, but how that squares with "y_i = f(x^1_i ... x^j_i) with high probability" I don't understand.

• the LPN assumption over Z^p with polynomially many LPN samples and error rate 1/ℓδ, where ℓ is the dimension of the LPN secret,

LPN = "Learning Parity with Noise", is a very similar problem to LWE. Here the range of f is restricted to a single bit, and the error rate is the fraction of samples whose output will be bit-flipped. (Bernoulli noise.)

• the existence of a Boolean PRG in NC^0 with stretch n^(1+τ),

PRG=pseudorandom generator, NC^0 = the class of functions computable by constant-depth, bounded-fanin circuits. Stretch being n^(1+τ) means that the PRG generates output of length at least weakly exponential in the input e.g. if τ=0.01 100 bits of seed generates 104 bits of output sequence and 1000 bits of seed generates 1071 bits of output. τ can be arbitrarily small so long as it's positive, so this is requiring 'minimally exponential' stretch.

AFAICT the strongest known NC^0 PRGs have only linear stretch, so this assumption is by far the shakiest.

Alright this is cool enough and all but I just can’t help from offering a contrasting voice for a claim made in the article. This whole thing about a ‘crowning jewel’ and ‘building crypto’ up from this notion...

...techniques can be new or cool without superseding everything magically. I think it’s a bit misleading to make this seem too universal. Of course it could be a big deal if it works out in practice, but the in practice is part of cryptography — and the whole of cryptography cannot be derived from obfuscation.

Hiding the implementation of any program does not always meet your security goals!

F your Right to repair

Tomorrow's headline: " Google announces update for Widevine L3"

Found one of their published pieces of research. I don’t understand this shit past at most page 15 lol. https://arxiv.org/pdf/2008.09317.pdf

Is real or no?

Pretty much the main use of such a thing is uncrackable DRM systems, which we absolutely do not need in this world.