Thread by @3a1FcBx0

Ppl fundamentally don't understand what is #crypto #defi #nfts, what's revolutionary about them, and why they exist.

Elaborating on @Wonderland_fi @danielesesta @0xSifu Scandal.

#Wonderland #FrogNation $FTM $ICE $TIME $MIM $SPELL

Thread (0/17) 🧵👇👇👇

1/ Now, I understand that you're scared, cuz that's your money & it's totally normal to be emotional.

But emotions and money don't work well together, if they work together at all.

A 99% of the rich are emotionless shits, &never care about anyone and anything except themselves

2/ That's exactly why we built all these #dApps, #DAOs, protocols, blockchains, communities, and networks. That's why we fight for #privacy & #security, for end-to-end #encryption. That's why we build on top of #mathematics and #cryptography. That's why multi-sig exist.

3/ Yes, people have shady pasts. Yes, everyone has both good and bad side. Yes, tech & anything can be used for both bad and evil.
That's why we fight for privacy. Cuz everything on the internet is #PermanentRecord. But vibes, narratives, regimes, systems, and politics - change.

4/ Wait few more years and you literally can be repressed or raided, just cuz you said or wrote something "wrong" or "against" someone. Well, it might been normal back then when you did it, but it's not in the new/current system.

EVERYTHING will be used against you.

5/ I, personally, wrote and said a ton of uncomfortable things in the past 5 years. Not only here, but especially here on Twitter, in the past 6-9 months. And one day i can be wanted or killed or jailed, if i don't preserve and fight for my privacy and pseudo-anonymity.

6/ Even if did nothing wrong or bad in the past, it WILL be wrong to some degree in some other times.

So, in the @0xSifu @Wonderland_fi case, he may very well be with shady past or whatever, but there's no problem. I don't know who this man is, but there's multi-sig.

7/ Now you'll say "but he's convicted!!1!" or whatever.. I don't know, he may be, he may not be - it doesn't matter. And I don't care - there's multi-sig.

You'll say "oh.. multi-sig, multisig, multi-sig.." - YES! YES! YAS! YES! YAS! YAS! It's that fvckin simple.

8/ It's that fvckin simple, because #DAOs #DEFI protocols, and these billions trillions dollar treasuries are not like some fvckin WallStreet suits, or centralized exchanges, or some greedy-as-fuck corporations.

It doesn't work that way. Single person alone can't do anything.

9/ Mt. Gox was centralized. QuadrigaCX - centralized, tradition company. And a ton more shits are happening because centralization.

You'll say "hackers hacked/stole BILLIONS from decentralized exchanges and protocols last year" - no, they didn't and they don't.

10/ These were not hacks. Most of these were exploits of _features_, because human psychology and greed, or purely because curiosity and training. Yes, others were bugs. And yes, we developers do that- we break stuff, we learn and try stuff. It depends on how greedy you are.

11/ So, "back to the topic".. even if this @0xSifu man was wrong-doer, it's because THE system ALLOWS him to do whatever he did, if he did. It's system's fault - this system is inherently broken; teaching evil, greed, immorality, encouraging bad behaviour, producing bad things.

12/ That's why we.. the Free and Open Source (FOSS) software developers, security experts, cypherpunks, crypto-anarchists, privacy and freedom advocates and fighters... are building all these new systems and paradigms, and economies, from the fvckin ground up.

13/ As I know there's 5-6 persons that are part of that @Wonderland_fi multi-sig.

So, what's multi-sig. Simplified, it's a smart-contract-ish WALLET that can do any/some stuff ONLY IF multiple parties and/or devices AGREE. Usually you need a 50% of the ppl or more to do anything

14/ Even if, lets assume, both @danielesesta and @0xSifu work together to rug the hell out of you - they can't, even if they want to.

These are trustless systems. You don't need to "believe" or trust anything or anyone. You trust the math and algorithms.

15/ There's the saying: "#Bitcoin & #Ethereum, and #crypto in general, don't need regulation - they are ALREADY regulated. They are regulated by science and math". And that's the whole truth.

16/ Whatever the case with @Wonderland_fi & #FrogNation Scandal is, it's not that scary or important. Turn down your emotions. It's funny _I'M_ saying it cuz i'm THE MOST emotional & patient being out there. I feel you.

17/ I feel you, but to remind you that there is always a WARNING NOTE in all protocols & apps like "USE AT YOUR OWN RISK" or "it's beta software and highly experimental".

Nothing is perfect, deal with that sooner rather than later.

Be cautious, be patient, be wise, be fearless