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@dystopiabreaker
researcher, engineer, applied cryptographer. interested in freedom-enhancing technology and the future.
Aug 15, 2024 • 5 tweets • 2 min read
if you tap to pay on base, whatever activity you're doing will be immutably visible to the entire world forever, and whoever is receiving your payment can view your entire financial state at any moment in time and all your activity in the past and future this is not just a horrific vector for abuse of all kinds, it also makes blockchain payments totally impractical

Mar 30, 2023 • 4 tweets • 1 min read
thinking about machine agentic decision theory problems is convenient because it allows you to inhabit a world entirely abstracted from the (abundant) human and human-organizational level decision theory problems and failures this leads to odd situations though, where you just sort of assume there wont be any human organizational level decision theory problems with stuff like this, because you only care about machine agentic decision theory problems

Mar 30, 2023 • 9 tweets • 2 min read
if the Rationalists were serious about destroying all computers they would be investigating nanomaterials that could cheaply be produced and secretly integrated into the supply chains of the top chip fabs, that would permanently taint the world's best node processes silicon prions
Mar 29, 2023 • 4 tweets • 1 min read
this is shameful and insulting. how about instead of continuing to promulgate deception, you respond to the massive stack of communication from companies in the crypto space that have been begging for clarity and cooperation on specific issues for _years_?… twitter.com/i/web/status/1… if your stance is just "i personally don't think this industry should exist", then come out and say it. also, resign, because that's a breach of your statutory mandate.
Mar 29, 2023 • 5 tweets • 2 min read
they oversee war crimes, prosecute whistleblowers and journalists to an inch of their lives, enact secret mass illegal surveillance, and undermine democratic norms at every turn

and they want you to believe that the way to 'protect democracy' is to ban technology they don't like i have been pretty amazed at how much of a mask-off moment this "RESTRICT act" truly is. it's remarkable.

Authoritarianism is a massive problem in our current politicial economy. they would have tried to ban email. this problem is worse than i thought and that is really saying… twitter.com/i/web/status/1…
Mar 13, 2023 • 5 tweets • 1 min read
make no mistake. this is the cause of the crisis. not silicon valley startups, not VCs, and sure as hell not crypto coins or any other distractions. the regulators have been too busy tilting at crypto windmills to notice that the 5% hikes put every regional bank in the US on the precipice, because the banks believed the USG in 2021 that inflation was a conspiracy theory and they aped into long duration bonds.
Mar 13, 2023 • 4 tweets • 1 min read
why was silvergate’s FHLB loan withdrawn suddenly?

why are they in voluntary liquidation instead of being acquired or otherwise reintegrated as is typical?

why was signature shut down? “because we personally do not like their customers” is not a valid answer to these questions
Mar 12, 2023 • 4 tweets • 1 min read
fed stepping in to fully protect SVB, signature, and other potential systemically impacted banks federalreserve.gov/newsevents/pre… smart move to stem the systemic risk presented by deeply underwater HTM bonds and securities, held at many major U.S. banks.
Mar 12, 2023 • 4 tweets • 1 min read
Image we needed to stop all culture war bullshit and deal with the meteor two days ago
Mar 12, 2023 • 6 tweets • 1 min read
in 2021, inflation was a conspiracy theory

in 2023, we are facing potential widespread banking crisis from duration mismatch caused by wrong assumptions about rates made in 2021. there is a serious hazard associated with the idea that you can conveniently label and dismiss categories of thought as “conspiracy theory” or “misinformation”. centrally disrupting peer to peer information flow carries risk
Mar 12, 2023 • 5 tweets • 1 min read
i gotta say holding btc and eth during a tradfi banking crisis is actually pretty chill. there are no duration mismatched bonds and securities in the UTXO set, and no one can trade my UTXOs for duration mismatched securities without my cryptographic signature it’s almost as if there’s something to this whole cryptography and distributed systems and decentralization thing
Mar 12, 2023 • 4 tweets • 1 min read
for months the OCC and others have been warning banks not to touch crypto as it represents systemic risks. now people are saying “don’t keep your funds in one bank dummy!” because the second largest bank failure in US history occurred due to.. underwater MBSes and bonds. i need you to understand that even though the bank is called “Silicon Valley”, silicon valley is a big place and VC fat cats have diversified portfolios. the people hurt are startups, competitors to big tech, who now can’t pay their employees.
Mar 11, 2023 • 5 tweets • 1 min read
causing mass system risk, breaking years of learned lessons around bank runs, plunging the us economy into another recession, and concentrating power in the toobigtofail banks and big tech,

to own the tech bros everyone is going to suffer because the bank happened to be called “silicon valley” and everyone, including regulators apparently, has micro-culturewar brainworms and cannot think
Mar 11, 2023 • 6 tweets • 1 min read
SVB depositors, mostly startups paying payroll to employees, lost money because their bank, unbeknownst to them, bought treasuries and mortgage-backed securities with a duration mismatch

this isn't a "lOL riCh vCs LoSt MoneY on ApeS" situation many, many other banks are currently facing the same exact economic situation at different scales and severity. that's what happens when you ZIRP for 2 decades and suddenly hike 5%
Mar 10, 2023 • 5 tweets • 1 min read
from the author of the best selling book "how to prevent the torment nexus", enjoy this new idea "how to build a different torment nexus" it's from vulnerable world hypothesis where it's presented as a "solution" to the "problem" of increasing asymmetric capability ("nuclear weapon in a kitchen sink")
Mar 9, 2023 • 4 tweets • 1 min read
hopefully this is becoming more clear now
Mar 8, 2023 • 9 tweets • 2 min read
lmao i somehow missed that this was a thing "How x Hijacks Democracy, in the style of NYT opinion column" is an incredibly easy prompt for any LLM to convincingly ape. makes sense why they're so upset by it