A group of technology experts is trying to warn the government of the dangers of the crypto industry. In a letter to U.S. policy makers, 26 computer scientists and engineers called on lawmakers to block efforts to create a ‘regulatory safe haven’ for cryptocurrency. They want leaders in Washington to instead focus on what they’re calling ‘responsible fintech policy.’
“The claims that the blockchain advocates make are not true,” Harvard professor Bruce Schneier, a member of the group behind the recent warning against crypto, told the Financial Times. “It’s not secure, it’s not decentralized. Any system where you forget your password and you lose your life savings is not a safe system.”
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Quick destroy Crypto and get all the investors to buy our stock bags
haha harvard, ok. well, good luck
Well there’s obviously a little more to Bruce Schneier than just lol harvard.
Not much new information in today’s letter, other than mild skepticism about whether this is the kind of insider trading that should be pursued and prosecuted. I did laugh at this, though:
When people worry about insider trading in stocks, it is because they think insider trading undermines confidence in the stock market. I feel like everything that has ever been thought, said or done about NFTs undermines confidence in the NFT market, so it’s kind of random to go after this.
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Is this a bad time to come up with new ideas about crypto and Poker? Asking for a friend.
Winter is buying season.
New Arthur Hayes article:
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Vegas trip up in poker fried pork chop smothered in cheese and apes got stolen? Your pants must be sticky
But are our Riverman DAO safe?
I’d venture a safe guess that any and all nft hacking would only help the future value of nfts. Like, a fair amount actually fwiw, imo. - assuming you avoided being the one who got fucked.
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If it was late January or so, floor was around 100 and shortly later the apecoin airdrop was worth 30-80 depending on when you sold it. Space suit generally 2x floor but this one had crazy eyes so realistically 1.5x floor.
I had read opensea was offering floor price to sign the NDA and not sue them. Offering 2.5% is wild, I can’t imagine that’s the whole story. Maybe floor at the time + 2.5%
O wait nvm he didn’t get straight stolen, he got 300k so maybe the 2.5% thing is legit. It’d be more than it’s worth rn but again he missed out on apecoin which was big
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Right. Guy explains his intention to sell above floor and buy back in before coin which is very natural. Ofc he did get enough even with the glitch to buy back in before coin so… yeah
So did ebay just invented turning your real life possesions into NFTs? You buy and sell the black lotus back and forth but it never leaves the vault. The “Owner” just gets a receipt saying it’s definitely theirs for sure.
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One key thing about this money: It was really heavy. A big piece could weigh more than a car.
“They often talk about the stones themselves not changing hands at all,” Fitzpatrick says. “In fact, most of the time they wouldn’t.”
So imagine there’s this great big stone disc sitting in a village. One person gives it to another person. But the stone doesn’t move. It’s just that everybody in the village knows the stone now has a new owner.
In fact, the stone doesn’t even need to be on the island to count as money.
One time, according to the island’s oral tradition, a work crew was bringing was bringing a giant stone coin back to yap on a boat. And just before they got back to the island, they hit a big storm. The stone wound up on the bottom of the ocean.
The crew made it back to the island and told everybody what happened. And everybody decided that the piece of stone money was still good — even though it was on the bottom of the ocean.
“So somebody today owns this piece of stone money, even though nobody’s seen it for over 100 years or more,” Fitzgerald says.
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