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In other news, water is wet.

Sounds about right.

The fck

Lol bitcoin heist is now a thing

coinfomania.com, where I go for all my crypto news.

why would you do something at that point? just keep those 1000 btcs and enjoy life

I’m glad the scammer got his revenge and arrested the man, he should of sent the poor guy more.

Where is Vietanam ? I’m curious …

Well I mean if I lost 1000 bitcoins, I'd go for revenge even if it was nobody's fault except mine, haha.

Dude probably sold bitcoin to buy bitconnect lol

tldr; Two Vietnamese police officers and 15 others have been charged for stealing $9.5 million worth of bitcoin from a businessman. They were hired by a private investigator to trace the whereabouts of a businessman who was accused of giving wrong business advice that resulted in the loss of 1,000 BTC in 2018. The group stole 168 units of BTC as well as properties worth $1,800.

This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

At what point do you say,

"Alright, I have enough money", and put some of it in a safe investment for passive income and enjoy the rest of your life?

Sounds like a movie plotline 🤔

He should have come to me first. 😑

I would probably be arrested for revenge as well

I cant imagine losing that much. Insane amount of money

This sounds like something out of a movie. I feel bad for the lad losing his BTC this way.

This is why I follow the Golden Rule - never tell anyone, friends or family included, that you invest in crypto.

fuck I don't know what I would do in that situation.

"On May 12, 2020, Tai and some of the accomplice trailed Le’s car to an apartment in District 2, and on reaching the Thoi Dai bridge, one of the accomplices rammed his motorbike into Le’s car with the hope of kidnapping him when he comes out to check the extent of the damage."

Its been awhile since I read the books, but I thought district 2 was pretty fancy.

Nigerian Princes strike again.

Lesson: Nobody knows shit about fuck in the cryptospace.

If he'd put the lot in a doggy coin he'd be a multi billionaire.

Thank this post to u/wmredditor 🙏💙

She seems like this kind of pick the Dems make these days where there's some really progressive person who has the right credentials for what used to pass as general beltway acceptability, but as soon as you start looking under the hood you find a mix of neat and positive reforms but also very controversial and problematic takes.

​

Some of her more nationalist banking proposals have been supported by right of center figures like the Hoover Institute's John Cochrane. The idea of the Fed providing low-interest accounts isn't that weird considering the Fed already does that for banks.

She had a paper on the lack of a wage-gap in the USSR which freaked a lot of folks out, and she took that off of her CV recently.

But she also worked in the Bush Administration?

She also seems to have this kind of hyper conservative towards innovation vibe that many progressives have, in that she looks with great skepticism on financial innovations in the private sector.

In 2020 she was on the record as a Green New Deal supporter.

Part of it is that they want to diversify the executive, so they look past things that might usually be a red flag and rely more on the credentials.

Putin is going to be pissed!

Omarova, a Cornell University law professor has courted controversy with eyebrow-raising academic writings on regulation, which include recently advocating for the end of banking “as we know it” by moving Americans’ finances from private banks to the Federal Reserve

https://nypost.com/2021/11/25/five-centrist-dems-oppose-bidens-pick-for-bank-regulator/

I can't find any info on when the confirmation vote would be.

"She has been treated unfairly since her nomination with unacceptable red-baiting from Republicans like it’s the McCarthy era."

Kettle, meet Pot

Anyone know how long until they start processing bank charters again after the bank regulator is elected? immediately? 1 month? 4 months?

Hey does anyone know if/when the bank regulator is elected how long until they start processing bank charters again? 1 month? 4 months?

One of her ideas was to separate the lending and monetary functions. She wanted the feds to hold all the money and allow banks to deal with the lending. Basically kill the banks by leaving them with the risk and giving the feds the rewards. I believe this specific nomination was what Noto was referring to when he spoke of "moving pieces" in Washington that presented risk to the SoFi Charter application. SoFi business plan is in line with the vision of the current acting Comptroller, he needs to remain in place until the application process is complete

I hate this country, we're so fucking doomed

HE ACTUALLY NOMINATED THIS LADY?

this is exactly the kind of shit conservatives will point to.

n phone call on Wednesday, Sens. Jon Tester (D-Mont.) Mark Warner (D-Va.) and Kyrsten Sinema (D-Ariz.), all members of the Senate Banking Committee, told Sen. Sherrod Brown (D-Ohio) — the panel's chairman — of their opposition. They're joined in opposing her by Sens. John Hickenlooper (D-Colo.) and Mark Kelly (D-Ariz.).

This looks a lot more like appeasing Republican and right independent voters, so they can go home to show how they 'buck' the President in their battleground state. Which sucks because it looks like they're giving the frankly xenophobic and red-baiting tactics of the Republicans, an air of legitimacy.

Comrad.

Good. Fucking commie.

She was the most qualified. Shame on democrats throwing her under the bus over partisan attacks.

She seemed a little way out there to me.

I remember when twitter had a field day when a Senator called her a comrade.

don't you love to see it folks. voting blue no matter who. they'll sink even the centrist democrat president's proposed plan because they serve a higher purpose, corporations and the rich.

Some people clearly didn't watch her confirmation hearing and it shows https://youtu.be/q3bNJGE7vUs

If you want to complain about her academic writing you should at least understand what motivated her writing. For example on the end banking as we know it/move all deposits to the Fed instead of private banks topic, that is specifically tied into the issue of what should be done in regards to a digital dollar or another virtual currency. This paper presents an idea that would by her own admission only be possible via an act of Congress. The argument isn't even that this is the best or only approach the idea is to get people to start thinking about this issue of who governs crypto or virtual currency before the genie gets out of the bottle on this.

No matter how many times it's said, they are not centrists.

I was glad to hear that it looks like she's not even going to make it out of committee because two democrats on the panel told Biden they don't support her. The benefit to Sofi is it keeps their current application in the hands of the same people to keep continuity. If she took over it would have probably stalled the process.

Jupi ;)

Thank god, she was horrible.

She wanted to see all you bank accounts, income and expenditure, any irregularities would warrant a visit from an auditor...

You dodged a bullet there!

Ah, centrists. Continuing to be fucking useless.

Thank fucking god. Commie pos she is. Says a lot about Biden and the commies defenders too.

tldr; The Infinite Machine, a book about the development of Ethereum, will be produced as a feature film and support an NFT community.

This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

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So, there's actually an update on this. What is happening with the world? https://cryptorobin.com/close-to-shutting-down-the-constitutiondao-token-reaches-new-ath/

Silver lining: the fees were spent for fun.

Why? Because nobody wanting a piece of paper for such a price can be taken seriously.

This whole DAO attempt could be best summed up with that TitTok "whee" sound.

"Never underestimate the power of large groups of idiots chasing a narrative" - Ethereum

1.5 mil gas fees, well that could range from trying to move 50 to 47 million then lol

Lol hate to say it but should have used xrp...LOL!!!

Its the future guys

tldr; A group of cryptocurrency investors raised $47 million to buy a rare copy of the US Constitution at Sotheby’s auction house. The group known as ConstitutionDAO was outbid by Ken Griffin, the billionaire CEO of the hedge fund Citadel. Despite losing the bid, the group's donors will be on the hook for an estimated $1.5 million in fees.

This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

Cmon L2

All for a good cause. Crack on folkes.

This is why everyone is waiting for Ethereum 2.0, we need smaller fees

Still waiting for a revolt where they toss all of the ETH gas fees into a harbor somewhere in protest...I'll call it the Ethereum Gwei Party

I honestly don't know why anyone would use eth for a project like this for this exact reason.

Adoption issues

Yea... I try to stay away from Eth for this reason, though the tech is good. I haven't hit the lottery yet and every loss on has fees hurts. It is also a hurdle for anyone other than first world holders.

Worth it. $People

Big oooof

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Author took an average gas price and multiplied it by two. This is poor research.

That’s like 4% of what they raised damn

tldr; A group of cryptocurrency investors raised $47 million to buy a rare copy of the US Constitution at Sotheby’s auction house. The group known as ConstitutionDAO was outbid by Ken Griffin, the billionaire CEO of the hedge fund Citadel. Despite losing the bid, the group's donors will be on the hook for an estimated $1.5 million in fees.

This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

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Fuck off crypto spam

I was disappointed in this he usually posts decent stuff. He spends most of the post not even talking about the actual benefits or drawbacks of crypto just discussing meta issues surrounding the crypto discourse and then concludes "crypto is the future because it's decentralized".

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I think the exact same thing.

For instance, I think Reddit would be a better site if it wasn't ran by spez. If it was decentralized and anyone could help run it. I'm not sure if this is a possible use case but it would be cool if it was.

I'm not sure if the tech is all the way there yet, but it does seem possible for some really smart and clever people to figure things out that allow some cool new things.

Edit: OP didn't we talk about crypto earlier?

In particular, I find the diffuse capitalization, ownership, and control of these kinds of networks extremely appealing.

He's basically making the same mistake that a lot of well-meaning people who are pulled into web3 thinking make - he's confusing decentralised infrastructure with decentralised control.

Crypto projects still have dev teams. They still have people looking to make money from tokens. They just convince other people to run nodes for them instead of providing their own infrastructure.

It's also perfectly possible to run P2P networks without blockchain bullshit attached.

As someone who’s been intrigued by the idea of cryptocurrencies while simultaneously deeply skeptical of lots of the claims around them, especially the get rich stuff, I was curious to read this. I was expecting an "aha" moment where my skepticism melted away. But this was terribly unconvincing. After a lot of throat clearing, the piece just putters out. I think he’s just willed himself into being part of the "in" crowd and put together a rationalization for it. I don’t think playing a game using digital tokens is going to change the world.

r/CryptoMarkets 📰 r/CryptoCurrency 📰 r/crypto 📰 r/CryptoToFuture

The problem is the douchebags like Jack Dorsey is trying to control the narrative around bitcoin by eliminating negative bitcoin content on Twitter and allowing the positive stuff to flourish. This asshole complains Bitcoin is needed for processing payments. Dude you run a fucking payment processing company.

I’m more or less crypto illiterate. I know how the mining works for the most part, and hence the environmental implications as running so many machines for so many cycles is hot work. I also generally get the public ledger for decentralized transactions. I get the attacks about it “not being a currency” because it’s not widely used for exchange. But Does anyone have good links that summarize technical criticisms of cryptocurrency that aren’t Peter Schiff complaining about how it’s not like gold or complaints about “intrinsic value”? I want to learn more.

Yes, and this article is garbo.

Of course it is.

So much words used to say 'I dont know what to think and who to trust, but I want to figure out what is true'.

The roblox example is funny, considering how hard it is there in that community to make any real money. Crypto isn't going to make it any easier to make money or cash out, esp as that isn't in the best interests of the people integrating the crypto into their systems. (You can use any amount to buy in, but only cash out when you have a minimum amount etc was already a common thing in the past, remember when you could make money buy having some clicker running, or being shown some advertisements in the early 2000s? It was already almost impossible to get actual money then, and that was only about a few 100 bucks (and even then the best way to make money was to secretly install it on peoples machines, or just fake the data (if you managed to find one of the programs which actually had money to pay out, and didn't scam you in return))).

Also no mention of the undercurrent of this in the crypto community.

For the record, I also post on r/buttcoin the anti crypto subreddit, so here, im showing my epistemic bias.

This is worth commenting on:

Right away I noticed something essential about polarized attitudes about crypto: it’s driven to a large extent by vexed will-to-obliviousness on one side and self-dealing, book-talking, investment-pumping, hand-waving performative optimism on the other.

One could say he's right, but one could also argue it's a gross oversimplification of the subject. And more importantly a false equivalence in terms of optimism vs pessimism. It's more like fundamentalism vs pragmatism.

Are nocoiners really wanting to will crypto into oblivion? Only in the same way say, a pacifist wants to end all war. Is that necessarily a bad thing?

Ask a nocoiner for details on why he holds that position and you're unlikely to get the kind of shallow, jingoistic responses butters give. You'll probably find some quite insightful observations based on a thorough knowledge of the industry.

The OP's contention is analogous to writing r/atheism off as merely a bunch of people who "hate god". But that's really a gross injustice to the fact that many of those people know more about religion and its history than those who claim to be "believers."

Why does "adopt the Pyrrhonian skeptical stance, suspend judgment, set your p at .5 and go Swiss" sound like instructions for a game of Mornington Crescent?

This is a well balanced piece. He's completely correct about the polarisation of haters on one side and fanatics on the other. The truth is somewhere between the two extremes which he gets at well.

No more than any other faith based bullshit.

This article, oh my god.

"Crypto might be a scam"

yes.

"But it might be the next big thing."

Also yes.

"But it's hard to tell because all the people who sound smart seem to disagree."

Sure. Can we please get to the point?

"It sounds promising, but you can't tell what is actually groundbreaking tech and what is just meaningless buzzwords."

...yeah.

"The only way to know whether this is a scam or not is to learn for yourself."

Indeed.

"But it's hard to learn about crypto because it's very dense and it's hard to tell what's real information and what's just a smokescreen."

Again, yes, but this is a very long article and you're just repeating what I already know. When do we get to the part where you methodically explain the advantages and disadvantages of "crypto"? You know, the whole reason I'm reading this?

"Read this explanation that someone else wrote. Don't worry, they helpfully broke it down into 296 tweets* so it's nice and easy to read. Don't worry, he's made this helpful image to guide you through the thread if you get lost. If you want to buy that image he's selling it as an NFT!"

Jesus fucking christ.

"In conclusion, I fucked around with random crypto shit for a week and now I can say that it's truly the wave of the future, not because my studies have shown that it's more efficient or effective, but because the concept of distribution gives me a warm fuzzy feeling."

Oh fuck off.

*and yes, I counted all of them.

A big problem with crypto/web3 stuff is that decentralization is a solution in search of a problem for many applications and the tradeoffs are real. Some things genuinely do need trustless systems, but decentralization for its own sake is wasteful.

Distributed consensus is expensive and replication improves scalability by some metrics but at the cost of eventual consistency and low write throughput. One assumption by proponents is that blockchain consensus mechanisms will get better over time so throughput and eventual consistency aren't as problematic but a) there's an inherent tradeoff between network adoption and performance and b) a trustful, centralized network (even if also distributed) will always have less work to do and be more efficient. We have high throughput blockchains (e.g. Solana) but they're still simply worse than running your own database cluster if you achieve any kind of scale. Solana fees are on the order of 10x more than AWS Aurora a-la-carte pricing (for substantially less flexibility), which is in turn more expensive than running your own database at high write volumes.

With the existing internet + web, we have communication protocols that everyone can agree on and participate in; with blockchains, the critical innovation is an additional protocol(s) for recording and sharing state. For example, DNS is a system that requires everyone to agree on some stateful information but as implemented requires a lot of trust between parties that we've already seen be abused; to me, that would have a natural home on a blockchain (ENS does something along these lines, except mostly it's used for attaching names to crypto-native entities, not IP addresses).

However, one more pernicious problem I have with web3 stuff is the incentive structure encourages defection from standards instead of conforming. With existing stateless communication protocols, we don't need to incentivize people to attach computation / storage to a network so there's no payment / token schemes involved. If you want to participate in the web or the internet, you gain a lot by being able to access the massive network of people who already use the same set of standards and you have no reason to invent your own. However, with blockchains, there's a countervailing incentive to create your own standards / protocols / tokens because early adopters get a massive windfall if the network takes off. Moreover, users are incentivized to defect from existing standards / networks because they could get a similar windfall. To me it's hard to see us coalescing around a handful of blockchain standards, which in the end is even less efficient for applications.

Maybe I'm just getting old and impatient, but this article is dense and badly written. One example:

This is when it really started to click to me. I’m not actually interested in fighting and breeding cute virtual creatures. But experiencing an in-game economy built to integrate with the real economy was eye-opening. Felix plays Roblox and loves to customize his avatar, collect pets, and special items his dude can carry around. He’d love to be able to literally own these things, buy and sell them, and cash out at the click of a button. But that kind of game application is just the most obvious type of thing blockchains makes easier.

"Click to me" could be "understand". "fighting and breeding virtual creatures", wtf, why is this here, he hasn't mentioned this before? What the hell is 'Roblox"? "his dude can carry around" is unnecessary here. "Game application" could just be "game".

Why would anyone read this drivel?

we need to be careful about regulation that could strangle the baby in the crib.

It's not a baby anymore, it's more like a hoodlum teenager that goes around mugging people.

That's a very funny sentence. Well, thankfully it continues 'or you get more information', so maybe if I read the rest of this post he'll say something intelligent (not holding much hope).

There’s real comfort in the idea that crypto’s nothing but a faddish planet-wrecking house-of-cards scam; it’s a buffer against nagging FOMO, regret, or a sense of obligation to learn something

FOMO? Seriously? Speak for yourself, dude.

Well, you obviously can’t trust the negative Nancies dug into derisive ignorance as defense against FOMO. I mean, they proudly admit that they don’t know what they’re talking about. But you also can’t trust the exhausting monorail-salesman WAGMI hype.

Wait wait wait wait wait wait wait. why are those the only two options. why are you presenting them as equivalent, when the fault of one is apparently that they categorically don't know what they're talking about, and the fault of the other is that . . . they're kind of annoying?

Because his monster thread below exploring all this stuff embodies the open-minded, spitballing, tinkering attitude this kind of task requires, I’ve adopted Venkatesh Rao as my spirit guide in this quest.

Ah, I'm glad he's enlisted the services of someone who knows what they're talking about.

The whole thread is just Rao doing a bunch of crypto stuff and then being like, hmmm, yes, this sure is a bunch of stuff that I'm doing. There's no actual attempt to examine the downsides of it, it's just trying to explore a new weird thing that coincidentally happens to be making a ridiculous amount of money for the time he invested into it. Which is fine, I guess, but not exactly a balanced examination of the pros and cons that Wilkinson is sort of implying is what's going on in his article.

Anyway, what I did to get started was learn to use Metamask and buy some NFTs.

So of course Wilkinson goes the same route. I guess if you've started from the position that crypto-skeptics have nothing useful to say then all there is left is to go looking for any potential positive aspects and pretend it justifies the whole endeavor.

In particular, I find the diffuse capitalization, ownership, and control of these kinds of networks extremely appealing.

I'm sure there won't be any implicit coercion or centralization that occurs as a result of these totally free market interactions! In theory this sounds great, but most of these people are fucking liberals, and they think basically the same thing about capitalism.

Oh, and look at the top comment:

But this is not a very convincing piece because you don't actually address the damning technical problems that well-informed critics of blockchain technology point to, perhaps because- as you candidly admit- this is a subject that's well outside your own area of expertise.

Great point! Maybe reading a twitter thread and just thinking about it really hard is not the secret to all knowledge.

Wilkinson: You need high levels of expertise across multiple technical domains to evaluate the claims of crypto proponents! What's a virtuous Bayesian to do?

Me: Yeah, it's a tough situation. I guess you either acquire the domain knowledge or carefully look for any sub-claims you can evaluate

Wilkinson: I'm going to blow a few hundred bucks on Axie Infinity coalesce the gestalt of comprehension

Yes.

/thread

Just punitively tax is and it's fine.

What does that mean? It means you can set up a data center in your garage and get paid in the network currency for reliably storing and serving data.

Will wrote that unironically. I’m not sure I could write a sentence that felt more “used car salesman” to hype up blockchain.

I’m a bit salty in part because their hobby is destroying my planet. If Bitcoin didn’t use more electricity than Argentina then I wouldn’t mind.

tldr; El Salvador will be issuing a $1 billion US “Bitcoin Bond” on the Liquid Network. The bond will be split between a $500 million allocation of bitcoin and an infrastructure spend for building out energy and Bitcoin mining infrastructure in the region. El Salvador aims to create a government securities law and grant a license to Bitfinex Securities to process the bond issuance.

This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

Massive news, amazing

First time I’m hearing abt the liquid network, pretty interesting

Dao is my Vietnamese mate.

tldr; What is (and isn’t) a DAO? Why do DAOs matter? How do they fit into web3, crypto, the creator economy, future of work, and many other areas? We’ve compiled a list of resources for those seeking to understand, build, and otherwise get involved with these “decentralized autonomous organizations”

This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

This is a literally a link to a page that links to other pages. Great for dedicated hours of research, not great for a quick learning session.

Saved for later. Thank you.

In 1971 Richard Nixon "temporarily" removed the convertability of the US dollar in gold.

This already exists, and it's called BISQ

Bitcoin Squarepants.

Jack is such a BTC maxi, I love having his support in the space

2021 was the year jack went down the rabbit hole

Im in as he can sport that beard.

A BTC DEX? I just wish the fees won't be too crazy lol

This could get very interesting. It's certainly good for exposure in the general twitter-sphere.

I cant wait honestly excited about this project

With all the Centeralised things happening with crypto i really want to see me decentralisation

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Again, no explanation as to WHY any of us should bother clicking some link.

Inb4 Jack Dorsey hate. Just because he owns a business that censors users does not mean he doesn't want censorship resistant Bitcoin. He also wants a decentralized Twitter. Twitter is bigger than Jack. Read the white paper before judgment.

A message to the World Economic Forum:

Public-private cooperation. Lol. More like public-private destruction.

Goycoin

FTWEF 🦍

[email protected]#k your cbdc. 🖕