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, 3 tweets, 1 min read
Fees can appear a burden, but they also signal people willing to pay real value to use a network.

This metric tells me network users find equal utility in #Ethereum & #Bitcoin.
As a comp, check out transaction fees for “next gen” smart contract platforms as they launch.

They will be / already are very low txn fee networks given the abundance of transaction supply with little demand.

Useful ones will grow txn fees or tolerated inflation w/ time.
Both in dollar terms, not % terms.

$’s can go up, while %’s go down 🙂
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More from @cburniske see all

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Chris Burniske
@cburniske
1/ "Protocols provide structure for businesses, but are *not* businesses themselves; they are systems of logic that coordinate exchange between suppliers (businesses) and consumers of a service."
2/ As coordinators of exchange, protocols should be minimally extractive, whereas businesses are incentivized to be maximally extractive (that’s profit, and a business is valued as a multiple of its profit).
3/ Any unnecessary extraction from the process of exchange is a tax that will be weeded out by copy-paste competition in the world of open-source protocols. The benefit accrues to all of us as consumers.
Read 4 tweets
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Chris Burniske
@cburniske
1/ If you haven’t done so already, make sure your @telegram has a password. It’s not a default requirement.

If you don’t, you’re vulnerable to an account compromise, a growing trend that’s in its early days but likely to become an epidemic in crypto (similar to SIM swapping).
@telegram 2/ I learned this the hard way. I also learned SIM swapping the hard way in 2016, and then watched it sweep like a digital plague through crypto in the following years.
@telegram 3/ @ohmstone helped me immeasurably through this process and also pointed out @telegram’s lack of a “compromised account recovery process” is an embarrassment, as is its lack of default requiring a password.
Read 7 tweets
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Chris Burniske
@cburniske
@durov @telegram my TG account (same handle as my Twitter) was compromised & the hacker is scamming your users through my social network.

My personal situation is “okay” (I'd like my identity back), but I feel worse for the people getting tricked into irreversible losses of $$.
@durov @telegram @durov @telegram a few friends & I have been working since yesterday to shut the account down - unfortunately, your UI appears to have no solution once the account is compromised, and no TG support can be found.

Please have one of your staff DM me through Twitter to resolve.
@durov @telegram As a side note, @telegram is marketed as a secure app, but does not present a process to resolve account compromises.

Given the # of crypto folks on your platform + the increasing rate of TG compromises, I would recommend implementing a compromised account recovery process 🙏
Read 3 tweets

Related threads

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Grills
@CryptoGrills
Alright let's get this through.
My key takeaways from the latest @OwnMarket AMA, and why they make me more bullish than before.

18 tweets so stay focused. 😉

Let's go:

$CHX #STO #securitytokens #Blockchain #Crypto #Bitcoin #Exchanges #gaming #mobilegames #ETH #investing
Let's start with the big one. The first STO (project Crowd) is now confirmed to launch its raise in September, this will be accompanied with a huge marketing campaign.
Remember for every #STO, $CHX gets locked away depending on the total raise.
1 month to go 😎
OWN now has officially signed a cooperation with Raiffeisen Bank who will support them in the STO space and also with their upcoming Stock exchange.
This is an impressive bank with over 2 million customers which has received several "best bank" Awards. #banking #crypto $CHX
Read 18 tweets
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Crypto Craig
@cryptocraig123
1/ Thread about altcoins vs. #Bitcoin

I don’t believe Ethereum will ever trade above its current all time high vs. Bitcoin (0.15).

You can substitute any altcoin for Ethereum and I believe this will still be true.
2/ This doesn’t mean alts are dead or that they will never pump again from the current levels. If you buy and sell at the right times you can still make great returns. I just think the 2017 market was an anomaly.
3/ When we look at what happened in 2017 to cause the alt explosion it was a perfect storm of events…
Read 20 tweets
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🔨Robert Breedlove
@Breedlove22
1/62. As ambassadors of #Bitcoin, I believe we must speak the common tongue and avoid esoteric language so that our message can penetrate minds far and wide. Here, I will shed some light on the Bitcoin and cryptoasset universe in an exoteric nutshell. Let's begin...

Thread⬇️
2. When we look at the cryptoasset universe, there are two distinct hemispheres: 1) Bitcoin and 2) everything else, which are commonly known as Alternative Cryptoassets or Alts
3. Bitcoin is more akin to the internet itself, which is composed of an open-source protocol stack called the internet protocol suite (consisting of http, TCP/IP, etc.)
Read 63 tweets
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RΔNDI
@randi_eitzman
Can someone who loves #LightningNetwork tell me why I can't use a network scanner, find a security hole, gain access to this IP, and re-route funds? If I can do enough recon on this IP, maybe get some keylogs or intercept your 2FA, a $184k payout seems worth the effort to me.
This is a sincere ask, because as a threat analyst, it seems to me that publicly advertising your IP and available funds held within a channel seems highly irresponsible. It doesn't matter how locked down your security may be, because if the NSA can be hacked, so can your LN node
Is there some technical magic that you all implement that keeps hypotheticals like this from happening? I have no idea, which is why I'm asking. #Bitcoin or #Lightning devs please feel free to shed light on this. I would greatly appreciate it.
Read 3 tweets
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Fernando Ulrich
@fernandoulrich
Spending #Bitcoin today is senseless. But if we manage to make it a good store of value, then it will naturally be used as a medium of exchange in the future.

Thread 👇
1/ Instead of focusing on the act of "spending", we need people want to "earn BTC", to "be paid in BTC". We need more hodlers.

The economic and technical consequences of stressing one viewpoint (to spend) over the other (to earn) are profound and irreconcilable.
2/ Money's essence is being used as a medium of exchange (MoE). But for something to become money, or a universally accepted MoE, it must first follow evolutionary stages. First, comes store of value (SoV), second, MoE, and third, unit of account (UoA).
Read 57 tweets
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charles bivins
@bivins1
What coin is better and would be bigger than bitcoin in the next 2 years . The thread starts here . Please retweet and the first post and follow to show appreciation
#Bitcoin #Ethereum #Litecoin
1. While the information presented in these tweets has been researched and is thought to be reasonable and accurate, any cryptocurrency investment is speculative in nature
2. No information, forward looking statements, or estimations presented herein represent any final determination on investment performance
I do not guarantee any rate of return or investment timeline based on the information presented herein.
Read 74 tweets

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