And the plan to fight that is to create the world’s biggest surveillance state biometric trove…Sam is smart enough to know these data troves are *always* subpoenaed or backdoored.…
For anyone curious, there’s some debate around data retention. Publicly Sam and the team say nothing will be retained. Oh, but maybe they retain a bit..for testing. But let’s assume they’re being honest about their *intentions.* /1
2/ they’re well aware that *every* vaguely similar example in history was backdoored by intelligence agencies at either the software or hardware level. It’s trivial for an intelligence agency to get someone in a factory to make a tiny undetectable modification.
3/ I don’t see any way for this to be “honest disagreement.” I simply don’t accept that Sam could be that stupid. He knows how trivial it is for the hardware to be compromised, that it’s inevitable if they get to big enough scale to be interesting to surveillance states.
4/ I don’t even believe that the team themselves won’t retain sufficient data to reconstitute (like how Facebook didn’t share your data…only metadata, except they knew the metadata could be combined to reveal private info.) But on that…I can only make inferences since
5/ everything is opaque. Of course no one must be allowed to confirm any of these claims. So I can only guess at the team’s plans. I’ll say with as much certainty as I can have about anything that Sam knows he’s building a surveillance state tool.

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More from @AriDavidPaul

13 Jan
A huge amount packed into a few sentences from @cobie. My first reaction was to joke: when I didn’t have money I suspected it was all a scam, now that I have a little…I know it’s all a scam. But, I don’t want to cheapen what’s really a profound comment. /1
2/ @cobie’s comments can be framed in terms of Maslow’s hierarchy, that it’s near impossible to do anything meaningful when your basic needs aren’t met. From an economics angle,
3/ there’s solid evidence that safety nets are critical to entrepreneurship. Someone worrying about putting food on the table for their kids can’t invest in R&D or growth that might never pay off, and even if it does, won’t pay off for 5+ years.
Read 6 tweets
11 Jan
Capital-Fee-Inflation equivalency: all crypto networks are secured by some combination of inflation, fees, and staked capital. These are “equivalent” costs to users. The total security costs determine the cost of the protocol and (with throughput) the efficiency. /1
2/ all else equal, the most efficient protocols will win. Users and devs will migrate to the cheapest “backend” for a given security level. This raises an interesting question post-interoperability.
3/ with very low friction to interoperability, there’s very little difference between sidechains, roll-ups, and layer 1s. Settlement likely has huge economies of scale so likely only a few “settlement chains.” Does everything else become a commoditized “sidechain”?
Read 12 tweets
6 Jan
I’ve been expecting social dissolution and rising authoritarianism globally for the last decade. It was important for me to be able to flee such a regime if necessary. If I was Italian, I’d be making use of those escape hatches today. /1…
2/ worth noting that many regimes (including the USA) have secretly been removing he ability to exit. In the US for example, you can’t renounce citizenship today. Legally you can, but state department has refused to do exit interviews for the last year.
3/ so “just leave if you don’t like it”…isn’t allowed. Even in the US, if you want to ‘exit’ (meaning to physically leave, not be subject to US taxes and laws while residing elsewhere and not get brought back in handcuffs) you need to do so illegally and secretly.
Read 4 tweets
29 Dec 21
Was 2021 a good year for you financially? I’m transferring 50% of everything I own to a charitable trust. I’d rather direct that money to specific charitable causes I believe in then give it to bureaucrats to spend. Consider donating crypto to charity before year end. /1
2/ donating crypto to charity may be better for you from a tax perspective than selling it and donating cash. You can find charities that accept crypto or use intermediaries like
3/ there are more complex options, but these are annoying and time consuming to organize. I’m using a set of charitable trusts so I can donate a lot today but then distribute the funds to specific charities over time. Takes a couple months at least to set up.
Read 6 tweets
28 Dec 21
Life is uncertain. A lot of our handwringing arises from being sold certainty (and desperately wanting it.) I've seen both left and right declare that everything the other side said about covid was wrong. And both sides are kind of right. Lots of early assumptions based on
2/ limited and bad data turned out to be wrong. Things twitter censored as "disinformation" 9 months ago are now official CDC/WHO statements and vice versa. Some of that reflects political corruption of bodies of health experts, but a big part of it is uncertain world.
3/ Basically any market or technological prognostication is similar. People tell us that an asset will moon or fail, or that a specific technology is practically divine...or garbage. The best, smart, well-intentioned prognosticators can make educated guesses.
Read 6 tweets
24 Dec 21
We encounter a new idea or enter a new space. We explore, learn, debate with an open mind. Our views start solidifying, we defend them, and "win" to them with accurate predictions. Then...we start dismissing new arguments and challenges automatically. That terrifies me. /1
2/ we've seen how fast this dynamic can happen in crypto, even among small circles of innovators, even over a timespan of a few years. One of the reasons I at least occasionally rehash debates from 3+ years ago that I view as "settled", is 'just in case' I'm missing something.
3/ this is a practical concern for me. My own views on crypto have changed weirdly little in the last 4 years. Maybe that's because I "nailed it" early, or maybe that's because I'm not learning enough or not challenging my assumptions aggressively enough.
Read 5 tweets

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