1/ I said I was going to be more assertive with calling out problems. This is one of them.
"Reserves" = assets minus liabilities
"Reserves" != list of wallets
The Proof of Reserves AUDIT requires cryptographic proof of client balances and wallet control.
It would be quite karmic for many of us (including me) to have been hoodwinked by the "supercycle" idea in the wake of the shitcoin rally in 2021, only to be presented with another pitch perfect halving cycle instead—a reward for those who stayed humble. twitter.com/caprioleio/sta…
- Red herring: Paul Graham never criticized VB for being indirect, but for V to claim this, does make it seems like he's actually responding to Paul.
- Of course PG was likely spot on with is response, so for V to say "You're right" could be seen as another admission.
... because Vitalik himself, back when he was involved with primecoin, spoke of using rumors for manipulative purposes. Why hold Paul Graham to this impossible standard, that he shouldn't have put out his tweet because these shenanigans happen in the crypto space? 🤷♂️g
- "One more person saying this". Imo here VB provides another form of admission. By showing social proof of other people criticizing PG, he's trying to justify himself having done it in the first place.
- "I felt your tweet yesterday was in that direction". This confirms VB did see PG's tweet on the day that he wrote his. Imo this is an admission of the truth, that VB originally did write his own tweet as satire of PG's.
Apparently V. added a bunch more tweets. They seem to confirm my suspicion.
- 💩 sandwich construction: say the nice things first and last, and your real opinion in the middle
- *sigh*: not genuine remorse, rather perception managementF
At a glance, two highlights:
- "The President will consider agency recommendations to create a federal framework to regulate nonbank payment providers."
- "The Administration has developed Policy Objectives for a U.S. CBDC System"
The craziest thing I've experienced in El Salvador:
Most people have no idea what Altcoins are. They just know Bitcoin. 🤯
Say what you will about Bitcoin as legal tender, but is protecting most people from the shitcoin casino.
Imo bitcoin minimalists are doing a phenomenal job this cycle, educating newcomers about cypherpunk values, engineering common sense, and the laws of economics.
I’m honored to be by your side in the beautiful bitcoin agora.
Dear Crypto & Fiat Bros,
you're probably not going to believe this, but I was you once.
I thought that #Bitcoin was stupid.
I thought that "crypto" was the future.
I was wrong.
Here is what changed my mind:
Soon you'll see "Login with Lightning" ⚡ buttons appearing everywhere.
Some obvious places like #Bitcoin exchanges - but less obvious places too. Why?
It's faster, there's much better privacy and passwords suck.
So how does it work? 🧵 👇
The dominant political class thus far has been leaning on Abundance as a dominant principle of order.
It appears to be increasingly challenged by a new group who, in the face of the current scarcity, seeks order by means of Unity.
I hesitate to affiliate myself with either.
Imo, if you're an influencer who has promoted a company that goes bankrupt due to fraud or negligence, you owe an explanation & apology to your audience.
Doesn't mean you should grovel or be cancelled. It just seems fair that each takes responsibility for his/her part.
🧵 I joined Multicoin's monthly LP call a few days ago. I debated whether to write this post because I've been a loyal investor for many years in both their hedge fund and venture fund. This is a summary of the key takeaways from the call and why I will likely be redeeming