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Is this a good thing? What’s to keep people from freezing other addresses so coins will be more rare?

What about LN?

Is it open source and non custodial?

Android?

Smart having 2 products lines, with a similar codebase and just changing the feature set and UX

I look forward to single sig being introduced to Green as that has been the reason many people have avoided green thus far. This way you can use green with your own full node and hardware wallet without depending upon any company and having a simpler recovery option. Green will be almost a perfect mobile wallet with single sig option

Im not a fan of the tether shitcoin support however

Also when android?

Also I don't spend btc. Yet. But for some reason I do have phone wallets

Cool.

What are the benefits of using liquid for a consumer ?

The hacker appears to be a noob. Tether froze the 19.8m USDT in his address 14 hours after the hack.

He could've swapped the USDT for 50k ETH on Uniswap in a single transaction before it was frozen.

He still hasn't dumped any of the tokens for ETH on Uniswap.

KUCoin - Trust score: 10 (out of 10).

• https://www.coingecko.com/en/exchanges

LOL

People got to stop downloading free porn at work.

Covered at what value? The value of the coin at the time of the hacking ?

It's for this reason we need none custodian exchange like Nash. They can't hack what they can't access.

It's for this reason we need none custodian exchange like Nash. They can't hack what they can't access.

Please rest assured that if any user fund is affected by this incident, it will be covered completely by user fees.

The best part are the people sucking up to the hackers and begging for some of it:

https://etherscan.io/address/0xeB31973E0FeBF3e3D7058234a5eBbAe1aB4B8c23#comments

Truly the financial future we all deserve.

Imagine when binance collapse, it will be the greatest meme of all time on the crypto world

No way they are surviving this. This is how Kucoin ends.

Kucoin - The People's Hacker's Exchange

It’s a good thing these people didn’t store their money in a filthy bank full of fiat currency.

Funds Stolen Away From U

USE. A. DEX.

https://youtu.be/DelF6zEHXpE

name change from KuCoin to NoCoin

Morons. Not your keys, not your coins. Lmao

Ooof. Supposedly they're looking at more than $100 million gone.

This is a nice way to remember that I have 1M sats on there

https://youtu.be/nRzL0kdUnME

​

Live stream from Kucoin boss, he looks nervous AF

Oh Christ

160M stolen so far and counting

never heard of them, but they are a pretty large volume exchange. average about 2,500 BTC traded each day.

​

incorporated in Seychelles - East Africa.

they dont know what happened yet, but assure everyone funds are safe? this is a premature PR to prevent the bank run exchange run where everyone withdrawals their crypto from the exchange. (and they should withdrawal)

What about sq strat ? When can I spend bitcoin at all square merchants ?

Jack is full of shit censors left right and centre

How is this going to help the giant political monolithic machine that is Twitter? Sounds like it's going to be another centralized mess.

Bitcoin, not blockchain.

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.

So this is essentially another solution for scaling? Or what's the major breakthrough here?

Does this obsolete other layer2 solutions like Matic or OMG?

I hope eth 2.0 comes out strong, still a good thing seeing other projects working on solutions for ethereum scaling issues, Matic Network doing great on Layer-2, nervos network working on ZK-ROLLUPS implementation as part of its development roadmap.

What?

Very nice, cheers to Synthetix 🥂👏

Smart contracts are actually quite dumb. They are literally dumb contracts.

So, a team of hackers colluded with a mining pool to steal ten million dollars' worth of mETH from its rightful owners? The rightful owners, of course, being whoever exploited the vulnerable contract first, since code is law.

Thank god they saved all that ponzi money for the sake of its anonymous ponzi masters. How very noble.

I remember when I had the same problem with my real world fiat bank. /s

10 years from now everyone will look back of how dumb and young this industry is and how it has grown

What in the convoluted garbage nonsense hell is this? God I hate Crypto.

So moral of the story is unless you're lucky to get a small army of selfless, well connected, dedicated, competent and obviously unpaid volunteers working overtime you can lose millions EVEN IF eventually you notice the fuckup and try to salvage the operation. It's not a dark forest. It's an accursed quagmire.

Do anybody know about Ethereum Fruit Bot, is it real or scam

this better be in the Ethereum movie.

samczsun is a national hero

With the thumbnail and the topic I half expected this to be a link to some fantasy novel ebook, before I checked which community it was posted in...

edit: an interesting read nonetheless

"Trustless" "Smart" "Contracts"

This is really amazing and I respect the people who did this to the highest level. But I am just so shocked after all those agents they interacted with no one just said fuck it and cashed in 10 million. Absolutely amazing and very noble. Glad we have people like this in the space

Thrilling

I never thought about white hat hackers being responsible for taxable income from an event like this. This is probably the greatest example of technology staying ahead of the law.

This is a good read. I have been in this space for what feels like "forever" (2013) but my grasp of certain technical aspects is still rather limited. This was kind of eye opening as for whats happening in the mempool. My questions is: Is this how it was intended? Is this "good for Ethereum"?

As a very general note, I have the feeling that blockchain in general and its value proposition in particular are already very hard to grasp for the general public. But smart contract platforms (not just Ethereum) take it to another level. I have been doing some programming in the past but none of this sort and most of this stuff is way over my head. Clearly this is all in an early stage and the buggy, badly audited smart contracts get weed out quickly (sometimes meaning lots of people lose money), but where is this going in the future, if hardly anyone (any non-programmer) can understand the whole process? Personally, I find DeFi an exciting new application but I am not ready to dump any money into any of those token, no matter what kind of profit other people are making with this. I am more of a conservative crypto guy I suppose, as per Warren: don't invest what you don't understand. I do understand Bitcoin, Ethereum and Doge and I am invested in 2 of those 3.

The fact that they have to do this sort of thing kind of makes you wonder about the point of all this "smart contract" business, no?

It's funny to see how they managed to organize miners to mine the white hat intervention without letting front-runners know.

It'd be more complex to pull that out in PoS.

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This is amazing. Hopefully they'll implement other stablecoins as well. I want USDT, DAI, TUSD, BUSD, SUSD, yUSD, DUSD... I want them all. Maybe even normal dollars, since they say that debit/credit card deposits are possible.

If this isn't Ethereum and dapps moving into mainstream, then I don't know what signal are we waiting for. $ETH to $1000, 4 months from now. $ETH is money.

Unlimited free trades with instant execution

How is this possible? What Layer 2 solution have they chosen?

They got me hooked at "free $100" :D

Stage 2 of the Polymarket Beta is almost here. Unlimited free trades, debit/credit card deposits, email login, and 10x more liquidity. Get early access and a free $100.

What would this mean for cardano and others? Is there a need for them if eth2 is a success?

Everyone can't wait for this update to happen.

Last chance to buy Eth below 1k

So is eth 2.0 might launch this year?

So what will happen to the folks with mining rigs?

Phase 0 mainnet is coming soon (no “™️” necessary)

They're really sure about this one... dare I believe?

Short and oh so very sweet. I love it.

Seems like we are very, very close. Congrats to the devs and community.

The suggestion that Eth2.0 phase 0 could cause ETH to fail the SEC's Howey test is a new, and somewhat concerning, one to me.

I would love to hear another opinion on this.

https://github.com/ethereum/EIPs/pull/2982

Good job ppl, lookin forward to staking for years now

Thank you Danny!!

In short?

An eye opening essay. thanks.

Until yield farming destroys itself (and possibly Ethereum in the processes), this kind of news won't stop.

Even if we solve yield farming GAS issues, something else will replace the demand (remember Crypto Kitties?).

All hands on deck to fix the GAS problem now!

Let's finally get off ETH 1.0 and start staking or figure out a way to force the proceeds earned by these high-volume, high earning smart contracts to start subsidizing GAS.

Ethereum like Bitcoin, has unfortunately failed as a technology for its intended purpose simply due to popularity.

This is the limits of Proof of Work for Ethereum and to be honest, I'm surprised its lasted as long as it did.

I think one of the worst things we allowed as a community was removing the time-bomb functionality which forced hard forks. This created forced discourse and change which is now lacking.

It's not too late to change. We just need to remove some of these 1 MB Greg types out of the decision making process and learn to take risks and be OK with failure.

Acknowledging the elephant in the room - failure is first needed (like this Blog has done!) which is a great sign. Next is strong leadership and swift action instead of words.

I still have hope we can pull this off.

Having participated in and surviving the DAOsaster - that was a time of rapid change and risk taking along with strong leadership. We need to be OK with failure even when there's money on the line.

Let's go!

That sucks. Was really excited for something like this to work.

It's sad to see more projects shut down due to Ethereum's problems. Hopefully more diverse applications are once again possible in Ethereum. In my view, I wouldn't want it to become a DeFi only blockchain.

if its possible to be shut down then it wasn't decentralized to begin with

I wonder if this is a canary in the coalmine. Which other projects are now quietly closing shop... or moving elsewhere?

Really sad to see, it was such a great project. But you have to respect teams that give the money back to investors once they realize their initial plan isn't going to pan out rather than doing endless pivots until they've spent it all.

Wrong assumption #1 always seemed like a problem to me from day 1. Suprised you guys even tried to make it work.

All 'freemium' models where multisig wallets are created for free by the service provider on behalf of the user just won't scale in the long run. How can an SP afford even $1 per signup if its trivial to sybil attack that?

Argent will run into this problem also. It's only a matter of time.

This is a bummer. This is also a FANTASTIC post and outlines many problems, assumptions, and results, and I recommend everyone read this from top to bottom.

Best of luck to Alex and the rest of the UniLogin team in their future endeavors.

tl;dr An overview of the blog https://unenumerated.blogspot.co.il by Nick Szabo, the man behind bit gold and the term smart contracts. Touches upon many subjects including mental transaction costs, social scalability and proxy measures.

Please add a submission statement (as per rule 6) to your link posts. Thanks.

Szabo aka Satoshi

This thing just gave me 4000 dlls

It's like year 2000 all over again.

Plenty of companies are more than happy to fork over their users...

So does it make sense to use that to help cover the cost of staking on Uniswap?

These guys could have made there tokens strictly available through yield farming but they really are committed to the vision of decentralization. Great job!

If you wanna fork a user, at least buy them a drink first

Good perspectives to keep thinking about.

> You can’t escape the fingerprints of thermodynamics

​

Assume the real term time preference rate 0.5% and the worldwide average price of one kwh at 0.1 USD and the worldwide narrow money plus gold at 4.61E+13 USD, the annual energy budget to establish trust is 8.29E+18 Joules which is 1.42% of the annual worldwide total energy consumption 5.84E+20 Joules. Assume people don't change ratios of energy consumption of each economy sector as economy expands, the 1.42% of trust token maintenance/production sector remains. It means the energy fingerprints is always not an issue if the mining task can be decentralized.

​

> Lightning ..

​

People who buy in the Lightning scale solution may prefer staying off chain forever so OP's argument is not justified.

Oh no the scalability "problem" is back

Mining is likely to become more distributed we near hard physical limits on efficiency and mining chips are fully commoditized. Remember that electric space heater that mines?

Nobody's making money on lightning fees either, channels are one-time setup and rarely need to be closed. Seems like it's doing fine... anyone having issues?

Meme

Are we hurtling towards another situation where bitcoiners were promised cheap and free payments only to find out that's not technically feasible but this time with lighting? I think lighting is amazing but the last time this conception and reality diverged it caused the bitcoin community some major growing pains.

Despite the controversial title, I encourage anyone to give it a read, there are some good thoughts in it.

The TL;DR of the biggest point is: [large scale] mining is impossible to pull off without a thermodynamic fingerprint. This could create a systemic risk because miners are subject to their jurisdiction's laws/KYC obligations.

When you're powerless to help, all you can do is complain.

Thanks for sharing here.

I'd like to be a fly on Brian Armstrong's wall as he reads this.

Thanks for sharing, interesting read.

They left out an important privacy attribute of grin (pre-broadcast aggregation) but they would have reached the same conclusion nonetheless.

Don't lose the forest for the trees. Did anyone even read the paper?
Most of their suggestions, regarding Monero, if implemented by exchanges and payment service providers would mean a nightmare for everyone in this community except for those select few that are already well connected, have fancy lawyers and "optimal" legal structures.

We as a community shouldn't condone or incentivize this type of discourse, even if it means financial "gains" in the short term. Most of their suggestions if put in practice would be a direct attack on Monero users, and yet here we are, celebrating. As /u/geonic_correctly pointed out this paper feels like a missed opportunity more than anything else.

We as a community need to remain vigilant and not fall for the same traps that have plagued some other projects in this space, code can change, communities consensus can change, be mindful of playing the state apparatus game and hoping that somehow you'll "win" by playing by their rules. You'll lose, badly.

Even if some people would be financially better off in the short term. That was never Monero's goal, keep that in mind.

Cool. Been waiting for this one forever.

Great effort on this.

I did notice the following references to auditing Monero exist in the paper...

Specific view keys can be shared with any third party to grant insight into the account associated with the view keys.

...

The confidential transactions feature is a cryptographic tool that allows for verification that no additional XMR has been created or destroyed as part of a given transaction, without revealing the exact transaction amount. ^(42)

...

Unlike the Bitcoin protocol, Monero users have two sets of private keys and public keys (four keys total). The pair of public keys make up the wallet address of a Monero user, whereas the two private keys (the view key and spend key) allow an individual to determine whether an output is addressed to them (view key) and enables the individual to send XMR and determine whether it has been spent (spend key).^(43) To verify transfers of XMR, a third-party observer must know that the XMR is owned by the individual using it. To enable this verification, the individual using the XMR signs the previously received XMR with the one-time address used, thereby proving that the individual knows the private keys and therefore rightfully controls the XMR that the individual is using. The private view key may be given to others to grant transparency into certain details of particular transactions associated with the address or addresses. Monero also contains an optional text field called “tx_extra” that can store arbitrary data in encrypted format. While this text field can be used for a variety of compliance purposes, this use has not been widely recommended by researchers and developers.^(44)

… which are great!

But I personally would like to have seen a small section to show (via the Monero command-line system or a symbolic representation) some techniques, specific tools, and processes of exactly how legally liable entities or operators can, in PC's confidence, sufficiently comply, maybe with some basic examples for different entity types.

How awesome that PC did this!

Can I violate the money laundering law as a private person? Suppose I sell Monero on localmonero.co for cash. I cannot check whether the money comes from illegal transactions. I have to assume the innocence of the other person. The money laundering law turns this around. You have to prove your innocence.

With regard to the “ease of crossing borders” factor, privacy coins and other cryptocurrencies present a higher inherent AML risk than cash, which is physically bulky and therefore more difficult to transport across borders, because large amounts of cash would require sufficient physical transportation and passing government border security. But privacy coins and other cryptocurrencies arguably pose a lower risk, in this respect, than cash, card, or paper payment instruments, which can cross borders with no transfer record at all (i.e., not even a publicly broadcast blockchain transaction

.

Where on-chain surveillance tools cannot be used, a VASP would still have ample controls to address AML risks of privacy coin transactions.

When Coinbase

Thank you for sharing this. Perkins Coie is very much of the "old generation". It's good to see they're writing about crypto at all.

Safety compliance is important!

Thank you team Tari

Good opinion, but we need a little more practical effort. I hope this report would be helps to convince the US Congress or crush their irrational regulations in court.

This is a huge feather in Monero's cap, or indeed any of the coins following in their footsteps.

Great work, and well done to all those involved in making it happen.

It's very encouraging to see this kind of high-level support for privacy, but I think it needs to be forcefully argued that "anti-money-laundering" laws themselves are a grievance assault on privacy rights.

The term 'anti-money-laundering' is an Orwellian euphemism for warrantless mass-surveillance of private financial interactions, and the existence and steady accumulation of these warrantless mass-surveillance laws is a fundamental affront to a free society.

While I applaud the effort, it's disappointing that they decided to amplify the "privacy coin" meme. "Privacy-preserving" or "privacy-enabling cryptocurrencies" should've been used throughout. I would've also liked to see a section on "privacy-eroding cryptocurrencies", starting with Bitcoin, and how that affects the individual user.

This was an opportunity to change the narrative around this technology and to underline how Bitcoin's radical transparency is the niche, not Monero's privacy-preserving technology. To explain to regulators and others that Bitcoin is unlike *any product* currently available in the financial world. Does any bank offer a transparent account that anyone can peer into? Why not?

The paper also misses some of the more important benefits of fungible money. Guilt by association is a thing with Bitcoin. You need to not only be sure of the person you receive your Bitcoin from, but also be careful who you spend it with, since that person might commit a crime and you are the source of his funds. Bitcoin erodes freedoms on so many levels it is preposterous.

Does it really matter? Cryptologists, mathematicians, scholars, security experts, all have testified before congress/senate stating the backdooring crypto just won't work. Yet the keep writing new bills and will until the anti encryption passes.

Tons of greats quotes in this one, including some where PC suggests privacy coins are lower risk in practice than Bitcoin, but the conclusion perhaps put it most simply:

"Allowing VASPs to support privacy tokens under current, tested AML regulations strikes the appropriate policy balance between preventing money laundering and allowing beneficial, privacy-preserving technology to develop"

I still don't see how it helps.

In sum:

We conclude that privacy coins protect legitimate individual and commercial privacy interests and that existing financial regulations sufficiently address the AML issues that privacy coins present.

And:

Not only do privacy coins provide public benefits that substantially outweigh their risks, existing AML regulations properly and sufficiently cover those risks, providing a proven framework for combatting money laundering and related crimes.

At long last!! Thanks Perkins!

Woo! Been waiting for this!

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When can I open an account? I am ready!

Congrats guys! That hard work paying off

Tweetstorm is way more epic!

Not your keys, not your Bitcoin

Kraken Financial, as a bank, is required by Wyoming law to maintain 100% reserves of its deposits of fiat currency at all times. If every client were to demand withdrawals of their fiat at the same moment, Kraken Financial would be able to fulfill each withdrawal immediately without regard to how many loans we had outstanding.

How are people not commenting on this? This post has been up for 13 hours and not a single mention of it.

This is fucking fantastic news guys. Things are being done right.

so im like here waiting for bankera to let me receive swift transfers from the us to get payed directly to an exchange without needing to convert to euro and kraken goes and buys a us bank. what will happen first. kraken allowing non us persons to open bank accounts to receive an ach which I believe will cost me zero or bankera having a way to receive swift transfers? i cant wait to be able to remove my current bank (dukascopy) from the equation of receiving my freelance payments (in my country there is currency control and the goverment forces you to convert your payments at a very very bad rate)

This is the just another beautiful step on our eah to $10,000.

Very interesting!! Adoption zone here!!!

Kraken needs to go easy on the email spam. I don't need an update on this every day.

Removed as duplicate https://www.reddit.com/r/CryptoCurrency/comments/itwlie/kraken_just_won_approval_to_create_americas_first/

So, when will I be able to deposit my paycheck to Kraken for DAI?

This is good for bitcoin

This is non-news they were already a bank in europe

I would love to invest in Kraken. Is there a way to do that?

This is enormous news for the crypto community. Salute to all you who HODL!

Wyoming is the real hero here with its 13 blockchain laws.

“We would expect to offer a host of new products as we get established,” Kinitsky said. “Those will range from things like qualified custody for institutions, digital-asset debit cards and savings accounts all the way to new types of asset classes. We can engage with securities and commodities and things like that as a bank. So a lot more TBD there.” 

Look for JP Morgan to follow suit within a year.

IM assuming as a resident of Texas I wouldn't have access to Krakens services from Wyoming then again it seems as if services they are offering are the same as what JP Morgan would offer? Am I correct in this? IM trying to find out how much of this is a win for crypto.

Very interesting, looking forward to them expanding to europe.

This is a nice first step. Just goes to show how early we are in this space. It's gonna be a different landscape in another 10 years for sure.

Looking forward when dexes can onramp from fiat.

This, is HUGE. An extremely underrated event.

I just got some questions;

1. Can you please expedite the process of expansion of kraken financial services into more countries? Expanding to new countries as a bank is alot easier than as a crypto exchange. Is this a priority or not?

Having a bank that accepts fiat and crypto while issuing debit cards, bank statements and is recognised as a bank is a huuuuge plus.

2. it is very important that you start offering staking services and high yield deposited. Most crypto exchanges offer 5% or more on deposits of stable coins. Offering this on your exchange based wing will be easier than your bank based wing since you dont need to keep 100% reserve, do you plan on offering this in the future?

What new services will this allow for?

Sounds big if true

So they spent $30 million of the $4 billion ICO money to buy a web domain. Smart move lol.

"There are 3500 publicly traded companies and there’s $5 trillion in their treasuries and it’s all melting and at some point, you have a fiduciary obligation to not lose the money.” The next 12 months are going to be very interesting.

‘Wow this social media site is really innovative, nothing else like it today. I should buy bitcoin’

MSTR stock up 10% today 👐

A bold decision that everyone will remember in the future as a stroke of genius.

The first to take the step, but certainly not the last.

voice is dead

It's great to have an excess of $500 million in cash to park.

Here's the thing: A lot of funds (pensions, insurance, hedge, universities and so forth) have the same "issue" of huge liquidity reserves. Many are willing to pay interest to hold government bonds - i.e. negative interest rates, when in fact they are meant to achieve a return on funds invested.

If some of them were allowed to invest just a portion of their funds into Bitcoin there's no worry about the missing demand side point of view in the S2F model.

Selling voice.com domain name for $30M to EOS creator but buying BTC only, that speaks volume about all the alt coins

Cool. Maybe it could inspire a 175m investment into EOS next.

This is a huge bet for a publicly listed company. I'm actually quite surprised that the shareholders would let him go all in like that. There is still lots of risk holding Bitcoin - theft of keys, severe bug, drop in price, etc. This could end up in triumph or tragedy.

"stacking sats", he said in a press release.

Taylor found himself reading up on bitcoin. He learned as much about crypto as fast as he could. Saylor said he pored over essays by “bitcoin luminaries,” listened to Nathaniel Whittemore’s and Anthony Pompliano’s crypto podcasts, scoured the internet for Peter Schiff’s bitcoin debates

LOL

“We just had the awful realization that we were sitting on top of a $500 million ice cube that’s melting,” Saylor said. MicroStrategy has settled on bitcoin as the treasury alternative.

“This is not a speculation, nor is it a hedge,” said Saylor. “This was a deliberate corporate strategy to adopt a bitcoin standard.”

Super bullish

The most I ever bet was $100 on the Superbowl for the Chargers

That could make him the richest man in the world in 10 years

It's Bitcoin. Duh.

Well look here, announced today, https://blog.kraken.com/post/6241/kraken-wyoming-first-digital-asset-bank/

Things are changing (moon)bois...

The first draft said (in the second bullet point), “This will streamline compliance, making it easy for state-licenses money transmitters like RIPPLE and Coinbase to work across multiple states...” they took Ripple out 🤑

This is what we need to see for XRP adoption!!!

Good for strike?

Compliance and regulation, in my opinion, will be essential in bolstering future adoption as it makes people less cared of crypto.

Wow, this is great news. They talk about releasing news on Thursday (so today?), any ideas when this might take place?

The framework will include 48 US states, further information to be released today.