it took the .eths precisely ONE WEEK to abandon 5 years of “defi chain” and “world computer” narratives and replace it with “MSTR with 3% yield”
billions of dollars poured into developing a dead ghost chain with millions of apps nobody uses
and they abandon it all in ONE WEEK
and the most amazing thing is they think they can actually win
after laughing at saylor for 5 years they’ve now looked into this for 1 week and they’re SURE they figured it out
i think both joe lubin and tom lee are standout guys and i’m rooting for both of them
over the next few years they’re going to need to raise enough capital to buy out cringelords like eric.eth and sassal0x etc and i really do hope they can pull this off
this ethtards/tomlee dialogue reminds me of saylor arguing with bitcoin maxis on their podcasts 4 years ago and he’s like telling them “guys you need to buy more bitcoin” and they’re like “no we want to talk about how bread is bad for your diet and women shouldn’t be allowed to vote” and saylor is like umm can we talk about bitcoin and they’re like NO THE JEWS DID 9/11 and saylor just sighs and thinks to himself ok i guess i’m gonna have to buy out these idiots for the next 4 years
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Today we learned that an OG bitcoin developer got hacked and lost all his coins.
If this can happen to the world’s leading experts, it can happen to you too.
Here are some hard truths the experts aren’t telling you👇🧵
2/ The first thing to understand about crypto custody is that no single solution is “the best”. People have different needs, different skills, and different risk appetites.
There’s no one way to cater to everyone.
Most “expert advice” ignores this and is therefore bad advice.
3/ What are you trying to do? Answer this first.
Keeping an investment in bitcoin safe for 10 years isn’t the same as flipping NFTs 10 times a day.
Trying to use the same solution for both is absurd. You wouldn’t use a bicycle to cross the ocean, or a plane to cross the street.
If you use LastPass, attackers probably have a copy of your vault.
CHANGING YOUR MASTER PASSWORD NOW WON’T HELP, they already have a copy that is unlockable with your old password.
What to do? 👇
2/ First, Stop using LastPass.
We don’t know how bad things are. It’s possible that attackers have ongoing access, so don’t just change your passwords and put them back into LastPass.
We will take care of urgent accounts first, manually, then set up a new password manager.
3/ Move your crypto assets to new wallets.
If you had seed phrases in your LastPass, STOP EVERYTHING ELSE YOU’RE DOING RIGHT NOW.
Generate new wallets, write the seed phrases on a piece of paper ONLY, and move all your assets to the new wallets.
when moxie repeatedly says that the lightning network is broken and can’t be used at scale in real-world apps, the bitcoin cultists harass him for weeks and call him a scammer
when he has some concerns about NFTs the same cultists say “listen to him he’s a real cryptographer”!
moxie’s article was good btw
unlike the bad faith arguments from the bitcoin cult, his critique followed a real attempt to experiment and learn what’s available
he also clearly understands the appeal and motivation
i wish the bitcoin cult had a tenth of his capacity for nuance
btw the critiques moxie offers for lightning are virtually identical to the ones he has for “web3” and NFTs:
* the UX for “decentralized” usage is horrid and unfit for adoption
* the options with better UX are centralized, insecure, not private