Jorge Stolfi Profile picture
Computer Science professor, State University of Campinas (UNICAMP)
Jul 14, 2023 40 tweets 6 min read
Dear Dr. @GaryGensler, please appeal as soon as possible the court ruling that found that XRP is at the same time a security and not a security. Otherwise the Universe will have to be split into two parallel ones, one where XRP must file an S-1 and one where it does not. @DreadDozer @FeelinTheDrops @conrad_twitt3r @GaryGensler >> However, the securities in that case are the shares of the fund -- not the commodity. The two are completely distinct things, independently traded in different markets, usually at different prices. >>
Nov 22, 2022 15 tweets 12 min read
@gpass0s @caueconomy @BlockTrendsBR A teoria de mercados se aplica a commodities que tem produtores (que criam a coisa e colocam no mercado), consumidores (que tiram a coisa do mercado, permanentemente) e especuladores (que compram a coisa a fim de revender mais tarde). >> @gpass0s @caueconomy @BlockTrendsBR >> O "preço natural" da commodity é o ponto onde as curvas (preço)x(produção) e (preço)x(consumo) se cruzam. Especulação pode distorcer esse preço, criando demanda adicional (quando os especuladores compram mais do que vendem) OU oferta adicional (vice-versa). >>
Jun 7, 2022 25 tweets 60 min read
@tmornini @pratyavayah @ZLOK @WalkerAmerica @WannaBuffett @JackRonaldi @herzmeisterderw @LetsTrekSpain @davidgerard @San_person @kallerosenbaum By that I suppose you mean that the central bankers of BTC will stop their "money fuckery" by 2140 or so, when their coin printing drops from 1 sat/block to zero. >> @tmornini @pratyavayah @ZLOK @WalkerAmerica @WannaBuffett @JackRonaldi @herzmeisterderw @LetsTrekSpain @davidgerard @San_person @kallerosenbaum >> I suppose that you know that the halving schedule is defined by a couple of lines of code in the software that pools use to build and validate the blocks. You must know also that there is no law, contract, or ToS that prohibits changes to those lines. >>
Jun 6, 2022 31 tweets 62 min read
@herzmeisterderw @tmornini @AliAlthawadi__ @WannaBuffett @WalkerAmerica @LetsTrekSpain @davidgerard @San_person @kallerosenbaum You expect a simple explanation of what goes on in Blockstream minds?

The FUD (Fact U Dislike) is that Greg conceived his two-layer reform mainly as a way to ensure that miners would be adequately paid in spite of reward halvings. >> @herzmeisterderw @tmornini @AliAlthawadi__ @WannaBuffett @WalkerAmerica @LetsTrekSpain @davidgerard @San_person @kallerosenbaum >> His "solution" was to have Layer 1 perpetually congested, so as to force users to pay high tx fees that would replace block rewards. But that would cause transactions to be delayed. >>
May 4, 2022 4 tweets 1 min read
Gráfico de mortes totais COVID por milhão de habitantes: ourworldindata.org/explorers/coro… >> >> Colocando o nome sobre o nome de um país, à direita, mostra seu gráfico em destaque. >>
Mar 26, 2022 25 tweets 4 min read
1. There is a lot of modern bogus mythology about gold and money. Much of it is spread by marketeers of gold and gold funds, who, with great sacrifice, are generously willing to give you their "sound money" in exchange for your "worthless fiat". >> >> 2. First, money is anything that people do not really want, but will accept in trades because they expect to be able to exchange it later for things that they really want. >>
Mar 11, 2022 13 tweets 5 min read
@Bindestriche Those "nodes" have no incentives to do what they are supposed to do, and nothing to lose if they don't. In fact there is no way to know whether they ARE doing it. >> @Bindestriche >> Users who contact the pools through those "nodes", rather than directly, can have their transactions censored, or may receive a branch of the blockchain that has a minority of the hashpower. >>
Mar 9, 2022 5 tweets 1 min read
@SecYellen, cryptocurrency promoters and oeprators may have claimed that the technology is revolutionary and that restricting or banning cryptocurrencies would damage the US economy and technological leadership. Those claims are just shameless lies. >> >> Not only cryptocurrencies and their technology have nothing to contribute to the US economy, they are doing huge damage to it. Ransomware, which exist only because crytpocurrencies are legal, has collected more than 5 billion USD in ransom from US companies and institutions,
Mar 8, 2022 9 tweets 2 min read
Having an idea for revolutionary technical product is easy. However, it does not count until you create a startup and convince some dumb rich people to give you millions of VC money. >> >> There seems to be a generation of youngsters who believe that the only reason why the don't have flying cars, surgical nanobots or mars colonies is that no one was bold enough to create startups to do those things. >>
Feb 5, 2022 4 tweets 1 min read
Bitcoin promoters and operators are "investing" millions to buy politicians in the Executive, Legislative, and Judiciary of the US and many other countries. >> >> Thanks to Citizens Unitedly Screwed,campaign contributions via PACs from crypto exchanges and crypto scams, domestic and foreign, overwhelm those of individual contributors. >>
Jan 9, 2022 9 tweets 2 min read
Anyway, batch answer: (1) BTC is a ponzi scheme. Not just my opinion, but that of many economists too. (2) As a payment system, bitcoin is crap. (3) As money, it is the most laughable thing that has ever been called such. >> >> (4) As payment system, Visa beats BTC more than 10'000 to 1 in capacity, 100 to one in confirmation speed, 1000 to one in transaction cost, and infinity to 1 in customer support and error/fraud recovery. Even Satoshi admitted that much in the whitepaper. >>
Nov 27, 2021 6 tweets 1 min read
Lembrete de amigo:

O valor de mercado ("market cap") de qualquer criptomoeda é 100% imaginário. Não 90%, não 99%, mas 100%. Do trilhão de dólares do BTC, não há um centavo, em qualquer forma ou lugar, que pertença aos investidores em BTC. >> >> Não há nenhuma entidade com obrigação de dar um centavo a quem investiu BTCs. Não há nenhum processo ou atividade que possa gerar um centavo de renda para eles. >>
Nov 27, 2021 6 tweets 1 min read
Just a periodic friendly reminder:

The market cap of any crypto is 100% imaginary. Not 99%, not 99%, but 100%. There is not a penny of BTC's 1 trillion market cap that is stored anywhere in any form and belongs to the BTC holders. >> >> There is no entity obliged to give BTC investors a single penny, ever. There is no activity or process that could generate a penny of revenue that will go to the investors. >>
Sep 29, 2019 10 tweets 2 min read
1. Just a reminder to those #Bitcoin believers who see "cheap coins": investing in cryptocurrencies is as stupid as investing in lottery tickets. >> 2. As in any typical lottery, more than half of the money that you invest in in cryptocurrencies goes straight into the pockets of those who run the system: chiefly miners and exchange operators. >>