Discover and read the best of Twitter Threads about #ProofOfKeys
Most recents (7)
As a happy @TheRealBlockFi user, I highly recommend you join me in withdrawing all your funds over Jan 3 for #ProofOfKeys. On additional to the normal "check they are solvent" and "firedrills are good" reasons:
1. Anyone can claim to pay interest: a-la OneCoin, the proof is in being able to withdraw it. You need to verify this occasionally.
2. As they are lending out the funds, large withdrawals are a significant headache! But if they can't handle a *scheduled* stress test, they can't handle this business at all and should stop now.
@nic__carter 1/ TOUR-DE-FORCE, *MUST READ* from @nic_carter. Well-researched & well-reasoned. I don't agree w/ all of it, but it's a timely call to arms to #bitcoin intermediaries to PROVE YOUR SOLVENCY cryptograhpically. Thanks for naming names, Nic. I wasn't aware that one exchange has...
@nic__carter @nic_carter 2/ ...routinely issued #ProofofSolvency reports (Coinfloor). Your point is well-taken that Coinfloor puts its better-capitalized competitors to shame--bc when an intermediary holds 100% reserves, that means it is SOLVENT & it doesn't really matter how well-capitalized it is. I'd
@nic__carter @nic_carter 3/ ...rather trade via a small but provably solvent counterparty than a big but insolvent one any day. @nic__carter's chart is worth studying in detail & it shows what everyone should realize--that we're in a debtor/creditor relationship with #crypto exchanges when they take... 
1/ ANYONE CURIOUS how US laws enable the #securities industry to create phantom securities, eg Dole Food case (36.7m shares outstanding but brokerage statements showed 49.2m valid owners)? The Uniform Commercial Codeās Article 8 indirect ownership regime, enacted in 1994 in all..
2/ ...50 states, enabled this. And now the Uniform Law Commission wants to apply this to #bitcoin & #virtualcurrenciesāUGH!!! Itās a recipe for insolvent financial institutions & consumers losing money! The pics in this thread speak volumes abt the loopholes in UCC Art 8 that...
3/ ...enable creation of phantom securities. This is just WRONG! It changed what used to be a clear, direct property right for securities into an āattenuated property right which looks much more like a contract right against the [leveraged securities] intermediary.ā This comes...
1/ CRINGE ALERT: if the regulator of your #crypto exchange/custodian requires this, run! "A DAB (digital asset biz) shld have a minimum amount of assets on-hand, within the organisation, to withstand the withdrawal of all client assets." @BermudaMonetary
cloudfront.bernews.com/wp-content/uplā¦
cloudfront.bernews.com/wp-content/uplā¦
2/ I found that gem in Bermuda's "Digital Asset Custody Code of Practice." Consumer protection is listed as the first core objective of the effort (bma.bm/BMANEWS/BMA%20ā¦). Sorry, but I don't see much meaningful consumer protection in here. @TraceMayer would probably agree...
3/ ...and here's another gem, in a section titled Account Segregationš¤:
"While keeping client assets separate from its own, DABs may commingle client assets..." Believe it or not, the quote in the prior tweet was in a section titled Proof of Reserves! There's a lot of great...
"While keeping client assets separate from its own, DABs may commingle client assets..." Believe it or not, the quote in the prior tweet was in a section titled Proof of Reserves! There's a lot of great...
1. Following on from looking at Bitcoin's yearly lows let's have a look at some other OG coins. To see their #HODLGrowth
3. It's worth looking at ETH/BTC lows per year at the same time:
2015 0.00154600
2016 0.00205819
2017 0.00828261
2018 0.02537603
#HODLGrowth
2015 0.00154600
2016 0.00205819
2017 0.00828261
2018 0.02537603
#HODLGrowth
Time for some real talk. If you got into this to turn your dollars into more dollars, move along. If you got into this because of what crypto can be - what we can build together ā then today is important. Read this.
2/Today is #proofofkeys day. Itās when you should finally move your crypto off exchange and into a wallet where you can control your own money. There are lots of wallets that will let you do that. @blockchain, @edgewallet, @brdhq, @samouraiwallet etc.
3/ Obviously I think @blockchain is the best of the bunch. But I chose to work here because of the mission: to help you Be Your Own BankĀ® - thatās the important part and many self-custody wallets can help you do this.
0/ On a day that marked the 10th anniversary of the #Bitcoin #blockchain, the #crypto ecosystem has been ripe with updates and releases.
Below, I've pieced together a 15-part thread filled with developments from the past day or two. Hope it proves helpful!
Below, I've pieced together a 15-part thread filled with developments from the past day or two. Hope it proves helpful!
1/āļø #Mimblewimble-based privacy #cryptocurrency BEAM (@BEAMprivacy) is scheduled to launch on mainnet today at 14:00 GMT!
The wait is over! Find out all about the release in the following announcement. medium.com/beam-mw/beam-tā¦
The wait is over! Find out all about the release in the following announcement. medium.com/beam-mw/beam-tā¦
2/ š£ļøĀ @NEOErikZhang (Co-Founder & Core Developer, @NEO_Blockchain) shared that NEO's developers are on the verge of completing a slew of improvements re its dBFT consensus algorithm.
A release before next month's #NEOdevcon2019, perhaps?
A release before next month's #NEOdevcon2019, perhaps?
