Peter Todd
@peterktodd
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cryptochronomancer/web-π dev pgp: 37EC7D7B0A217CDB4B4E007E7FAB114267E4FA04, pete @petertodd .org follow me with mastodon:
Joined May 2013
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Pinned Tweet
The hardest part about being a contrarian is knowing when not to be.
The mind virus of conspiratorial thinking has been devastating. It completely paralyzes analysis and reduces everything to entertainment, fodder for clicks, traffic, and attention. It’s like a caricature of the Straussian close reading of texts: the “real” meaning is always
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German wind turbines near Leipzig, doing everything they can to help solve the energy crisis.
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😂😂😂😂😂😂😂😂😂😂😂
Dogecoin's block interval is already just 60 seconds. That's low enough that larger miners already have a big profit advantage over smaller ones.
A 6 second block interval with 10MB blocks would just break the consensus.
Musk should focus on rockets.
@itsALLrisky
Ideally, Doge speeds up block time 10X, increases block size 10X & drops fee 100X. Then it wins hands down.
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It's amazing how many idiots can look at a Russian soldier fleeing a drone and think "Ah! Obviously ethics demands we give him a chance to get back to base, get more weapons and ammo, and fight another day."
Fuck him. That's not a surrender. Killing him saves Ukrainian lives.
Drone attacks are really messed up. They are kiIIing people who are unarmed and want to surrender.
This war is only continuing because Biden and the EU keep funding it.
How many innocent Ukrainians and Russians need to die for Biden?
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Custodia Bank is really interesting: all they want to do is offer non-fractional banking to customers to give them the option of ~zero risk banking.
Yet for some reason the regulators refuse to allow this. Why?
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@mayameeroo
@LXSummer1
On the other hand, comparing Gaza to Russia is reasonable. Both decided to launch a war of terror against their neighbors civilians. The main difference is Russia did so from a position of strength. Hopefully both terrorist states will be thoroughly defeated.
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Venezuela’s ruling regime just froze opposition leader Juan Guaid's bank accounts.
This is why we need Bitcoin, and even more importantly, physical cash.
Countries like Sweden that are trying to get rid of cash are setting themselves up for fascism.
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Fun fact: Elon Musk lost his position as CEO of PayPal in 2000 because of his attempts to get them to use Windows servers rather than Linux.
He should stick to rockets.
@MattWallace888
BTC & ETH are pursuing a multilayer transaction system, but base layer transaction rate is slow & transaction cost is high.
There is merit imo to Doge maximizing base layer transaction rate & minimizing transaction cost with exchanges acting as the de facto secondary layer.
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@Frapees
At this moment power is definitely an issue with most power being generated by conventional fossil fuel plants.
Shutting down Germany's nuclear plants was a terrible idea.
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Mandatory vaccination changes everything.
Without it, the likes of Pfizer would have to sell effective vaccines with messages of hope.
With it, they can sell ineffective vaccines with messages of fear.
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"Apparently, Ripple is missing 32,570 blocks from the start of the ledger and nodes are not able to obtain this data. This means that one may be unable to audit the whole chain and the full path of Ripple’s original 100 billion XRP launch."
@BitMEXResearch
Very interesting!
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"How significant is it that the two top FDA officials responsible for vaccine research resigned last week and this week signed a letter in The Lancet that strongly warns against vaccine boosters?"
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Buy Bitcoin.
And there it is:
“You will not be allowed to access banking services if you have not been vaccinated.”
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$4 billion dollars of profits, yet Bitmain still couldn't shove a unwanted hardfork down users' throats.
That's the power of full nodes.
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"Cab seizes 6,000 Bitcoin but sale impossible without access codes"
If you can't sell them, you didn't successfully seize them.
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Knowing that GPU's aren't used to mine Bitcoin is basic blockchain tech knowledge.
If a idiotic mistake like this can get past
@Bloomberg
's editors/fact checkers it's either too incompetent to be reporting on Bitcoin, or dishonestly making up
#FakeNews
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“They didn't choose BTC's Lightning Network or any of the "faster and cheaper" L1 networks.”
Because PayPal built in the ability to freeze and seize funds at will and Lightning doesn't support that.
Coinbase, Visa and PayPal are using
#Ethereum
to deploy stablecoins and new payment systems.
They didn't choose BTC's Lightning Network or any of the "faster and cheaper" L1 networks.
This is where reality separates from narratives, and markets will take note of it.
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It's remarkable how dishonest the Facebook Libra technical documents are. They repeatedly describe Libra as decentralized, when it obviously isn't.
Reminds me of how often academics have lied to my clients, claiming their trusted consensus solutions are trustless/decentralized.
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"The Ripple network did not re-route my request to the other 3 available servers: s1, s3, & "
When your cryptocurrency runs on servers with as the naming scheme, it just might be 100% centralized.
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Large fossil fuel power plant next to mostly still wind turbines.
Fact is, the wind just isn't blowing hard right now. 8km/hr winds.
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A million LEDs spent to add a starry sky and a canoe to an ATM.
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I once gave a talk at a meetup in Toronto around 2013 and other than the organizer, no-one showed up, not even my girlfriend.
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I decided to dress up as Craig Wright for Halloween.
Though in the spirit of Craig Wright, I won't be providing verifiable proof.
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Illegal donations to democrats go unpunished. But remember, your "unhosted" Bitcoin wallet is the biggest money laundering threat out there.
Sam Bankman-Fried donated $100 million in stolen customer funds to US politicians.
Today, the US Government announced they're dropping six charges against SBF and will not prosecute him for a political campaign finance violation.
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tl;dr:
@jgarzik
's 2x HF just failed due to an off-by-one error, w/ the root cause being the idiotic "activation block must be >1MB" HF logic (already failed before in a similar way on testnet).
Fact is, no competent devs worked on 2x, b/c competent devs know it's a dumb idea.
ZERO REVIEW
@wences
@mikebelshe
@JihanWu
@jgarzik
@ErikVoorhees
@barrysilbert
@OneMorePeter
Please take a moment to reflect.
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Note how we're celebrating the launch of the Bitcoin whitepaper, rather than the software itself.
A sign of an industry that celebrates hype and marketing more than working code.
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@IAPonomarenko
If Ukraine held an election during wartime the same scumbags complaining about a lack of elections during war would complain that the election isn't valid because people in occupied areas can't vote.
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Read this.
The US government is basically arguing that an Ethernet cable used in a Bitcoin transaction is a money transmitter.
No surprise really. The psychopaths who work at these jobs want total control over everything. They always do. They have to be defeated politically.
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The numbers are insane: 5,535 total excess deaths in <65 year old with _at least_ 4,155 not related to covid in any way.
A lockdown fatality rate of 4,155 / 31.17 million = 0.013%
Lockdown was deadlier than covid itself for healthy people <45 years old.
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Do nothing. They're paying millions of dollars in fees to Bitcoin miners, creating almost entirely worthless assets.
Why wouldn't you want your enemies to bleed themselves dry?
Alright, what's the plan to get these fuckers to go back to shitcoins?
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Really interesting fraud.
to;dr: Zcash clone Bitcoin Private secretly created an extra 2 million coin premine for the founders - something like half the market cap - hiding it in the shielded pool so no-one would notice.
So proud of the Coinmetrics team for this forensic analysis. One of the most fascinating case studies I've come across. Praise is due to
@khannib
for making the discovery and pushing through the investigation.
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@Frapees
At this moment power is definitely an issue with most power being generated by conventional fossil fuel plants.
Shutting down Germany's nuclear plants was a terrible idea.
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So someone managed to _accidentally_ make _all_ Parity multisig wallets suicide:
Global shared state WTF people.
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Great article from someone who actually tried to use IOTA
tl;dr: Even ignoring the ridiculous, amateur hour, security flaws, the network is a broken unusable mess.
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Even though
@jack
is one of the people funding my defense against Craig Wright, I'm still going to say this: Twitter deserves to be sued for defamation and lose, badly. Censoring politically incorrect science is evil and gets people killed. Jack has blood on his hands.
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tl;dr: IOTA is so batshit crazy they managed to turn a theoretical one-time-signature vulnerability into an actual, practical to exploit one.
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Three weeks ago, pre-quarantine, I had doctors ranting that I was a "sexist" "mansplaining" "tech dude" for posting evidence that masks work, and politely asking them to support their evidenceless claims that masks spread infection.
Now the CDC recommends everyone wear masks.
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We fucked up the bech32 address format when we didn't include group separators, like UUIDs and phone numbers have.
See how much easier it is to compare addresses with groups:
bc1-qep2un4-cvwmhf-6kxjgp-6kzqcp-zzyl98-l5zkndl2
bc1-qep2un4-jrkmsl-78bn97-nnd5bk-ke47cx-l5zkndl2
An address poisoning attack that MATCHED the first 4 and last 4 characters of the address!
How often have you glanced at your hardware wallet to confirm a transaction, and only validated those few characters?
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"decentralized logins" is a ridiculous contradiction.
If you're logging in, it's centralized.
Facebook CEO Mark Zuckerberg says he's seriously evaluating blockchain's potential for decentralized logins.
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So about those "dirty" coins that are so "dirty"
@VoletCom
can't send them back to
@giacomozucco
...
Turns out
@VoletCom
spent them, mixing them together with other customer deposits! 😂😂😂
Like, OMG, now all their customer funds are CONTAMINATED!!!
TELL
@VOLETCOM
YOU DON'T
@giacomozucco
@AlessandroDB
Please note that there are no 'immediate refunds' here. You can't send dirty crypto and demand immediate return. As a regulated institution, we have to collect information, analyze it, and then make a decision.
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Review of IOTA by
@abrkn
tl;dr: Useless for IoT because the Tangle DAG tech just adds complexity without changing the fundamental problem of needing all blockchain data to detect double-spend.
tl;dr²: IOTA doesn't scale.
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While the transparency is cool... WTF at putting half a billion dollars into a single pay-to-pubkey-hash address.
That's completely insane. Use multisig. And prove to the world that you're using multisig.
Announcement: Today the Bitwise Bitcoin ETF (BITB) becomes the first U.S. bitcoin ETF to publish the bitcoin addresses of its holdings.
Now anyone can verify BITB's holdings and flows directly on the blockchain.
Onchain transparency is core to Bitcoin's ethos. We're proud to
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"Today, Membership is optional, but it will become mandatory soon."
Shapeshift bites the dust.
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I've explained it this way a few times: if I bought something from you with a price quoted in Bitcoin and then sent you BCH instead, I can guarantee you a judge would rule against me for committing fraud.
This isn't a philosophical debate; this is a well defined financial asset.
Imagine some really rich person buys "Bitcoin" from this website, then later on finds out they were actually sold rat poison. 🐀☣️🤔
#bitcoin
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The hilarious thing about this nonsense is that BSV already has gigablocks, and unsurprisingly, it's network is close to collapse due to lack of nodes.
These people are always either idiots or scammers, trying to sell you a decentralized network that isn't.
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🤣
8 billion people * 5tx/day = ~460,000 tx/s
With (crazy) 60s blocks => 28million txs/block => 7GB/block.
Fair mining requires blocks propagate in ~0.1s => 210GB/s of peak bandwidth (70 in + 140 out)
A $6000 EPYC 7742 has just 204GB/s of peak RAM bandwidth.
It gets worse...
@BTCsessions
@TeslaGong
@wintonARK
Achieving truly decentralized finance – power to the people – is a noble & important goal.
Layer count depends on projected bandwidth & compute, both rising rapidly, which means single layer network can carry all human transactions in future imo.
For now, Lightning is needed.
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@mikebelshe
The 2X cancellation email was signed by Mike Belshe, Wences Casares, Jihan Wu, Jeff Garzik, Peter Smith, and Erik Voorhees, in case you were wondering who to send the bill for the millions of dollars worth of engineering time wasted on this mess.
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It's utterly laughable to think that DeFi will replace the core thing genuine banks do: lending.
Decentralized smart contracts can't hold people accountable for debt. For that you need guns.
Expect a ton of DeFi lending fraud...
$1 billion locked in DeFi for the first time ever
Bitcoin hit $1b in 2013
Ethereum hit $1b in 2016
DeFi hit $1 billion in 2020
Historical milestones
Software eating money
Software eating banks
The next decade will be wild
🚀
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Disappointing frankly.
People should be able to trade what they want.
It's reasonable to criminalize fraud associated with ordinals, like false advertising. But there is no reason to prohibit the trade itself. It's just digital tokens.
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I think Warren should be able to use energy for whatever she wants, be it her private jets or her Bitcoin miners.
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20 years ago today I gave my first public talk, to an almost empty audience, at the Toronto Linux User Group on the anti-censorship Freenet network.
My mom told me not to go downtown that night. But I wasn't scared of terrorism. I was scared of the government.
I was right.
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Prediction: COVID-19 and the quarantines will prove to be the fastest and biggest transfer of wealth from small businesses and lower/middle class to the 1% in history.
Your local restaurants are utterly fucked. Amazon is doing better than ever.
Here's what I know.
Republicans walked away from negotiations last night, and this morning showed up with:
- no real funding to save hospitals
- no real funding to save states
- slush fund for corporations
- no-strings bailouts for corporations
This is $1.5T. Do it right.
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@cossackgundi
One of the things Zelenskyy is doing is showing how good Ukrainian opsec and integrity is. Anyone who found out about the plan in advance could get him killed in a targeted attack. But this doesn't happen, because Zelenskyy's team is competent and loyal.
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Blocked
@rogerkver
Disagreements are one thing; scamming is another. I want to have nothing to do with him again.
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Gregory Maxwell goes back to working on the Bitcoin protocol and related crypto exclusively, rather than also trying to be CTO of Blockstream:
I don't blame him at all: running a business is exhausting, and rather distracting.
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FYI I've confirmed that this is real and not a Twitter hack via a mutual friend.
IIUC he used Gentoo as his desktop and didn't keep different activities separated. So backdoored software is one of many ways this could happen; he may not have been targeted.
Use
@QubesOS
people.
PSA: My PGP key is compromised, and at least many of my bitcoins stolen. I have no idea how. Help please.
#Bitcoin
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Completely fucked?
I hold my Bitcoin on my own wallet. Last I checked I still have all of it.
What's FTX anyway? Never heard of it.
1/n - Contagion is here. Let me show you how we are COMPLETELY FUCKED.
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Pro-tip: figure out what vaccination does to fertility before you force 100% of the population to get vaccinated.
The safety trials required women to use multiple forms of contraception to ensure there was no way they'd become pregnant; pregnancy wasn't tested.
NIH orders $1.67M study on how COVID-19 vaccine impacts menstrual cycle
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Latvian tax receipts are literally a blockchain.
But in typical government fashion, it's using SHA1.
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The internet democratises access to information; the blockchain democratises access to truth.
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Ridiculing non-native English speakers for "social justice" points is probably not the most effective strategy to actually creating a welcoming Bitcoin.
Even if you knew that
@cz_binance
knew better, it doesn't give random bystanders a good impression.
Does get you clicks...
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It really is impressive how well wearing a mask correlates to being a crazy psycho.
Beverly Hills: Jennifer Garner's eldest daughter wearing a Palestine watermelon t-shirt that completely erases the entire State of Israel. Wiped from the map. Disappointing.
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Spain should be kicked out of the EU for this.
Non-violently advocating independence should not be a crime.
Spain's Judiciary published an Orwellian 127 page report justifying up to 25 year prison sentences for Catalan leaders.
Since they weren't violent, prosecutors indirectly make the Orwellian argument that opposition to the State is itself a potentially violent act.
Thread...
⬇️
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Remember: there's probably 10x or even 100x cops who did this and weren't dumb enough to get caught.
It's not easy to catch cops planting evidence, when evidence can be a tiny bag.
Something that would help: mandatory random strip searches of officers on the job.
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Pro-tip: if you're going to be in a highly public place surrounded by cameras, change your phone's passcode to something easy to remember that you wouldn't use otherwise to avoid revealing your real passcode.
No-one's going to steal your phone while surrounded by cameras anyway.
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@TuurDemeester
Not a great example. High-fi audio is most bogus nonsense, so a system 1/1000th the cost would be pretty much just as good.
Impressive they even got $158k for the remains.
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TIL the famous Standford Prison Experiment was a unreplicatable fraud:
and the Milgram experiment had severe errors that mean the actual torture compliance rate was probably much lower than reported:
Hopeful for humanity really.
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Probably the first real world economic transaction with one of
@Excellion
's BTC poker chips.
He was showing his age, so I dragged his luggage to the hotel from the
@LuganoPlanB
conference for 0.0001 BTC.
Zero transaction fees! 😂
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I need to talk about distributing BTC funds to truckers.
This is a complex topic, and aspects of it are quite counter-intuitive.
First, let's start with what a protest actually is, and what it accomplishes:
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Coinbase should not be hiring people with a history of backdooring software.
Even if you're ok with working with them hiring people who have worked with murderous authoritarian regimes, backdooring software is a security risk.
@brian_armstrong
@varunsrin
@balajis
More history: Hacking Team backdoored the software they sold to at least a few of those government clients. Here is an email from Marco Valleri (another Neutrino team member) about how they used this backdoor to conduct a "census":
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Accidentally read some Snowden on blockchain tech.
It's so much easier when our heros are ideals rather than flawed humans...
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Iceland just got an official US govt. "DO NOT TRAVEL" advisory due to high levels of covid infections.
They have one of the highest vaccination rates in the world.
Face it: vaccine passports are an unscientific, authoritarian scam.
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Nonsense like this is one reason why I stopped returning emails from Coindesk reporters years ago.
You could easily read the article and not realize this is a court battle over an asset that more likely than not doesn't exist. Gets Coindesk more clicks. But very dishonest.
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Any time you see someone calculating Bitcoin's energy usage like this they're either incompetent or a fraud.
That major mainstream media organizations are reporting on this is a scathing indictment of the MSM. It's simply fake news; to publish is either incompetence or fraud.
Oh my god it gets better. They estimate bitcoin's energy usage by taking the total energy cost of bitcoin and dividing that by the number of transactions in 2017, and then extrapolating that figure to **314 billion transactions**.
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Imagine doing all this rather than just accepting Bitcoin Lightning.
Signal uses an anonymous credential scheme including blinding, zero knowledge proofs, & more to ensure we’re not connecting your donation information with your Signal account. And we don’t store any of the information you send to payment processors. 4/
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Austrian health authorities are likely timing their lockdowns to coincide with when they expected cases to go down anyway due to seasonal effects, etc.
That's fraudulently taking credit for something they had nothing to do with. No different than shamens taking credit for rain.
The 14-day lockdown in Austria even worked in neighboring countries without a lockdown.
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"Healthy as a horse." 😂
Joe Rogan tests negative for COVID-19 days after virus reveal
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In my
@WhatBitcoinDid
interview I mentioned how Bitcoin should have had a 0.1% or 1% monetary inflation tax to pay for security.
Something I didn't mention - and should have - is I think the 21 million BTC limit is so fundamental it's more likely Bitcoin will die than change it.
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"I will never get over how they literally put flies on the cover of a shitcoin book
This is the best O’Reilly cover in the history of time"
-
@udiWertheimer
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While Macbook keyboards are failing due to minor bits of dust this guy uses his Thinkpad to control a CNC router, covering it with sawdust every day, with no issues.
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The Libertarians were very, very, right on this.
The nationwide baby formula shortage highlights the risk of government policies that have placed the multi-billion dollar business into the hands of just a few makers.
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FYI I turned down an invite by
@InstituteCrypto
to speak at HCPP later this month, because they're doing mandatory covid testing at the door _not_ required by govt.
Pretending COVID-19 is that level of threat is ultimately fear mongering anti-vaxxery. The world needs to move on.
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Why is full-rbf in the news?
Because devs are trying to remove this option from the upcoming Bitcoin Core v24.0 release. Even in testnet!
What's full-rbf? Accepting the tx with the highest fee into mempools and blocks. It's the obvious, profit-maximizing behavior.
Thread:
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A few weeks ago I unsuccessfully tried to pay my cellphone bill with Lightning via
@acinq_co
's Eclair wallet and
@bitrefill
; kept failing due to what were apparently routing problems.
Just tried again, and out of the box it was a perfect success! $40 payment confirmed instantly.
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IMO this is form of fraud, no different from how phone companies have been smacked down for adding fake charges to your phone bills.
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tl;dr: vaccinating after infection is a bad idea.
Guess what? The vaccine safety trials excluded people with prior infections. That's not incompetence. That's obvious fraud.
And it means the ~50% of you who have already been infected are the subjects of a massive experiment.
Hyperviscosity (>5 cp), which predisposes to thrombosis (clotting), “is likely to occur in any [C19 vax] recipient who has previous C19...screening for previous C19 before C19 vax necessary for prevention of thrombohemostasis”
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This.
XRP, like almost all ICO coins, doesn't need to exist and gives you no real rights to anything.
It's purpose is to make Ripple money, by selling it to suckers.
If Ripple ever somehow makes it work as a payments company, it will be the equity holders that benefit and the XRP holders holding a massive bag. XRP is a revenue generating mechanism for Ripple, nothing else. Ripple has so far sold $1.2 billion in XRP - majority of its revenue
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WTF happened to
@Coindesk
?
I literally don't know who half those people even are.
...and it'd be nice to get a statement on whether or not the profits for this silly "digital trading card" thing associated with it are going to them. Smells like a paid advertisement in disguise.
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