Andreas ☮ 🌈 ⚛ ⚖ 🌐 📡 📖 📹 🔑 🛩 Profile picture
Bitcoin & open blockchain Learn Bitcoin for FREE: https://t.co/Copsp3oQX6
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1 Dec
Yesterday, while everyone was helpfully explaining to me why Bitcoin is broken, obsolete and failing to fulfill it's mission, I ran my monthly payroll.

1/
I have a dozen people on my team, scattered across six countries and four continents. A multinational small business. Many get paid in Bitcoin or Ether.

/2
BTC payroll is batched in a single RBF transaction, sent from Segwit native addresses. I low-ball the fee by 50% usually and wait 30 minutes, then bump it if I need to. Mostly I don't need to.

3/
Read 8 tweets
30 Nov
During times of extreme market excitement, the capacity of Bitcoin gets strained. That means that Bitcoin transactions become expensive and slow. Some may even become "stuck". Here's what to do...

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First, check and see how congested things are. A great site for this is Johoe's Bitcoin Mempool statistics:

core.jochen-hoenicke.de/queue/#1,24h

That rising mountain is 6hrs of activity. There are already 30,000 transactions willing to pay more than 50 satoshis per byte

2/
Transaction fees are measured in satoshis per virtual byte (vbyte). Different transaction types have different sizes, depending on the complexity, number of inputs/outputs and address type being spent.

A typical size (one input, two outputs) is about 144 vB.

/3
Read 20 tweets
21 Sep
A lot of people who are into cryptocurrencies will see this FinCen leak as vindication and proof that banks are money launderers.

But, this will be used against cryptocurrencies...

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See the correct analysis of this news is that AML/CTF and KYC don't work. They will never work because they try to control the *tool* not the *criminal act*. It's not the money that is illicit, it's the use of that money to commit crimes.

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I've talked about this extensively. Not only is the use of money as a crime-control mechanism ineffective, it has terrible consequences that increase poverty for billions by creating economic exclusion. So it's not just useless, it is "Worse than Useless"

3/
Read 20 tweets
10 Aug
This whole "what is ETH supply" thing is a silly gotcha that doesn't make much sense if you understand how Ethereum works. It's no better than the silly gotchas Schiff and Roubini level at bitcoin.

We can do better. Let's look at the details...

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First of all a block explorer is a very limited view of any blockchain. These are user-interface tools that abstract important details and translate them for the user's benefit. They each have a point-of-view that is the result of their data collection and analysis methodology
/2
You can easily see how this plays out in Bitcoin too, if you've paid any attention to all the errors in popular blockchain explorers over the years. Take a Bitcoin metric like "current hashrate" and you will find a dozen different answers depending on where you look

/3
Read 22 tweets
15 Jul
It seems like some Twitter API posting service has been compromised and being used to send out fake "giveaway" tweets from popular crypto/blockchain accounts. "CryptoForHealth" is a scam.

No way are all these accounts unprotected by strong passwords and TOTP 2FA
I don't think this is a compromise of Twitter. I think it's another intermediary "social media posting" service that is popular and used by multiple companies. They often have weaker security and limited 2FA options, but full access to the Twitter API granted by the user.
To be clear, no one should be gloating about this and neither am I. No one is immune to attacks and even while I feel I have taken strong precautions to protect my account, I'm watching this with horrified interest, hoping it doesn't happen to me.

Also, fuck "CryptoForHealth"
Read 7 tweets
4 Dec 19
Believing in "meritocracy" is... problematic

If you see a system that delivers 90% dominance (supremacy?) by a 10-20% minority of humans...

a) It is systemic bias (Unfair)
Or
b) meritocracy

If you assume meritocracy is at play, *that means you think supremacy is merited* 😳😬
I can't fathom how people believe in meritocracy when the outcomes are so skewed.

If you therefore reason that a system like that cannot be meritocratic, it is ipso facto unfair.

Then the question is simple: what you gonna do to change that?
I would love to see a meritocratic system. I'm almost 50 years old and have never seen one, not even in the most egalitarian societies.

I see a massively tilted playing field.
Read 9 tweets
3 Nov 19
Apparently, a German person called "Jorg Molt" has been showing a selfie taken with me and telling people that we are friends

This is a LIE. I don't know him at all.

I have heard from others that he claims to be the founder of Bitcoin and has thousands of BTC. A LIE.
If you are a conference organizer, you need to be very skeptical of these claims and avoid putting people like this on stage.
If you are approached by Jorg Molt and told he is my friend, or shown other photos to create fake association, walk away. Then warn others.
Read 6 tweets
20 Jun 19
Just FYI: The ICO, IEO, "influencer marketing", endorsement, "advisor" etc emails and DMs have started flooding in again.

People are offering me (and many others) $25k to $250k for endorsement, review, tweets etc. I say no, many say yes.

SCAMS are coming. Be careful.
I'm now getting 10-15 requests A DAY for "influencer marketing" bullshit.

I block anyone who sends these to me.

When your favorite CT "influencer" starts endorsing or promoting something beware: they're being paid for every tweet.
It's been about a month since this new wave of scammers started up again.

Last time was August-December 2017.

The price dump in crypto made them go away and now they're back.
Read 4 tweets
3 Dec 18
It appears some journalist has "difficulty" understanding Bitcoin mining.
Also, in "journalism" if you write-off a 100bn industry because of a technical "flaw", you first ask a technical expert for comment.

One more obituary on the heap. Credibility went to zero faster than bitcoin's price.
Breaking news: Journalism enters death spiral.
Read 5 tweets