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14/ 🤔🤷‍♂️
15/ Binance announced trx staking earlier today. They quickly became the largest validator and it's not even close...

Announcement: binance.com/en/support/art…

Data: tronscan.org/#/sr/represent…

h/t @bennd77 @Bitcoin_Vending ImageImage
16/ lol I’m going to stop adding to this thread soon I think it’s become pretty obvious that Proof of Stake validation will centralize among exchanges and other custodians 🤷‍♂️

17/ “They may even offer stake rewards greater than normal just to buy influence over the network and more volume.”

As predicted Binance just undercut every noncustodial tezos stake pool - highest “return” you can get on staked tezos is now binance.

https://t.co/8W7cbqBNJV
18/ 🧐🤷‍♂️

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Matt Odell
@matt_odell
"please provide us with all the addresses you control and use"

Expect your country of residence to follow suit in the coming years. I'm surprised it took this long.

Be ready for when they do. Don't get caught off guard.
This is one of the main reasons @wasabiwallet and other user friendly privacy solutions are so important. Each person that discloses their addresses reduces the anonymity set of everyone else.

We need users to have plausible deniability before this becomes more widespread.
@wasabiwallet Yes, it will be hard to enforce, but they will do it on a case by case basis, and make examples of people.

It's a simple technique. Ask you to disclose your addresses, then catch you in a lie if you don't disclose a known address, then they throw the book at you. Be prepared.
Read 4 tweets
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Matt Odell
@matt_odell
re: ASICs > GPU

ASICs are inevitable. ASICs are your friend. Embrace them.

1. There is no such thing as an ASIC proof PoW algo. Given enough time and financial incentive someone will figure out a way to make a purpose built rig that outperforms GPUs.
2. The only practical way to keep ASICs off your network is to continuously manually change the algo, which bricks current ASICs, with the hope of discouraging future ASIC development. This comes with centralization & third party risk. Who decides when and how it changes?
3. ASICs enhance the loose game theory that backs bitcoin's security model. Attacks become much more expensive since the ASICs are useless after. GPUs can mine on other chains after an attack, ASICs cannot.
Read 8 tweets
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Matt Odell
@matt_odell
One of the major conflict points in this space is that US based VCs & HFs are investing in quasi-legal(to put it lightly) projects & attempting to extract an ROI. That alone makes the project vulnerable. It means there are known actors which the US gov can go after.
Key characteristics that make a protocol or app more censorship resistant (anonymous/global devs, open source. lack of central control) go directly against the idea of US based VCs & founders being able to extract an ROI. They themselves are one of the main vulnerabilities.
So they really only have one option:
(1) Deny that they & their biz model are an attack vector.
(2) Move forward without permission & hope US gov doesn't crackdown.
(3) Lobby gov for a favorable result.
(4) Comply if forced.
(5) Hope to compete against distributed alternatives.
Read 4 tweets

Related threads

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Kory Stotesbery
@sfbaypsychiatry
Today is a monumental day for me.

Personal tweet diary to follow.

Tl;dr- this is my last day practicing medicine in SF and it is the greatest development in my career since the day our plane touched down at SFO 6 years ago.

I’ll explain.
In 2013 I started working in SF. I was a contractor for a group of psychologists on Union St and a contractor for a non-profit working with foster care youth in the Mission. My wife and I had moved to SF after my fellowship in DC and residency in Philadelphia.
Despite some changes in my career path, my goal has been to live in California since I was in high school. I used to wear a Stanford baseball hat to motivate myself to the standard necessary to go there for college. My dad is from Huntington Beach and my mom LA. CA was a dream.
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On Yavin
@on_yavin
With the recent announcement by @binance (binance.com/en/support/art…) that it is entering the crypto lending space, offering users up to 15% APR on their crypto by lending it to margin traders looking to leverage their positions - Binance has once again, quietly one-upped themselves
on the silent war they have been raging on @ethereum for the past few months. Binance debuted the margin lending feature with 3 coins in their offering: BNB, USDT and ETC. Many were surprised to hear that alongside the obvious offering of BNB and USDT,
Binance would allow users to receive interest on their idle ETC balances - why allow lending in such an esoteric cryptocurrency, instead of a more established one, like many industry players already do?
The answer is simple, yet hidden:
Read 9 tweets
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Matthew Willemsen
@mwill_crypto
0/ The last day in February is here. Already over 15% through the year!

As always, there was a ton going on in the #blockchain/#crypto space today. Let's look back at some events from the past 24 hours!
1/ 🔲 Square, the payments giant led by Twitter's Jack Dorsey, reported its 4Q18 earnings. In total, users of Square's Cash App sold >$166M worth of #bitcoin in 2018 and $52.5M in 4Q. Considering the timeframe, that's some very solid QoQ growth! Graphic from @TheBlock__.
2/ 🤓 @BinanceResearch published an in-depth research report on @IOStoken [ $IOST ], a #blockchain-as-a-service platform focussed on mass adoption. Love this initiative from @Binance. info.binance.com/en/research/IO…
Read 16 tweets
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Matthew Willemsen
@mwill_crypto
0/ The #cryptocurrency/#blockchain ecosystem is finishing the week in a flurry!

Below, I've condensed 19 of Friday's #crypto developments into one single #Twitter thread. All for your convenience. Enjoy!
1/ 🗽 New York State's D.F.S. granted both @LibertyX (fiat-to-#bitcoin service) and @RobinhoodApp (#crypto exchange) a #BitLicense to operate their respective businesses in the state of #NewYork. The latter also received a money transmitter license. dfs.ny.gov/about/press/pr…
2/ 📊 Social, peer-to-peer user #data network @3Boxdb has partnered with @AlethioEthstats to deliver the first #Ethereum block explorer with built-in social profiling functionality.

Can't wait to give this a try. Such a neat, value-adding integration for the budding #web3 space!
Read 20 tweets
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Matthew Willemsen
@mwill_crypto
0/ Whilst we were all catching up with family and friends, unwrapping presents, and stuffing our faces over #Christmas, many developments took place in the #crypto/#blockchain space.

Below is a 15-part thread covering what you may have missed over the past 24-48 hours. Enjoy!
1/ 🆕 @TeamHYCON [ $HYC ] unveiled the world's first implementation of the SPECTRE* protocol! Click to watch the team reflect on their development process.

*short for Serialization of Proof-of-work Events: Confirming Transactions via
Recursive Elections.
2/ 🛒 @OntologyNetwork [ $ONT ] revealed that its ONT_Dev_Platform #dApp has been added to Microsoft's @Azure and Amazon's @AWSmarketplace.

The #Ontology team expects to be listed on Google's online software store next month, too! medium.com/ontologynetwor…
Read 17 tweets
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Matthew Willemsen
@mwill_crypto
0/ Fun fact: plenty of non-#bitcoincashfork-related news went on today!

Here, a thread devoted to a bunch of #crypto-related happenings from the past ~24hrs. Granted, not as entertaining as watching the hash wars play out in real-time, but it deserves your attention nonetheless.
1/ 🍭 #Bitcoin rewards rebate app @TryLolli raised an oversubscribed $2.25M seed round. Investors included @BainCapVC, @VersionOneVC, @ForerunnerVC, @SVAngel, @FJLabs and @DCGco.

Congrats @AlexAdelman, @MattSenter and team! Keen to see #Lolli progress. medium.com/@alexadelman/l…
2/ 📢 Aware of the community's increasing level of demand for greater transparency from the @HelloICONworld [ $ICX ], the I.F. issued a detailed write-up addressing their oft lacklustre performance re comms.

Worth reading for those interested in #ICON. medium.com/helloiconworld…
Read 19 tweets

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