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Reuben Yap Profile picture
Reuben Yap
@reubenyap
@firoorg Co-Founder & Project Steward #privacy $FIRO $XMR
May 15, 2022 • 26 tweets • 6 min read
An observation: Most agree that $LUNA / $UST failed because of a flawed design that they should have known about or that was 'working as intended'. What if I told you #Bitcoin $BTC also has a flaw in its design as well because of its 21M limit? /1 Bitcoin's security relies on miners securing it. Miners are paid by emissions (block rewards) and by fees. Every ~4 years, this emission halves and trends towards 0. The idea is that eventually miners will have their earnings completely in fees. /2
May 12, 2022 • 8 tweets • 2 min read
A lot of people say @terra_money $LUNA was a Ponzi which resulted in lots of people losing their life savings and maybe with hindsight it was. But I don't think it set out to be one. Just overconfidence both on the team and the people backing it who underestimated the risk. /1 I never was a big fan of algorithmic stables (even though I see the allure) but the mechanism of willing coins out of thin air to support the peg is very reminiscent of the fiat system we were trying to get away from (as is big parts of defi). /2
Mar 4, 2022 • 20 tweets • 6 min read
To @JoyRaptor I'm assuming this is an honest question and will take it as such. Indeed, I don't use the word 'lie' lightly and I had cross-checked and verified myself before making these claims on $DERO. Also I would like to preface it by saying that, this doesn't mean I'm 'against' the project, ppl who know me know that I value honesty even with competing projects and you can read my privacy comparison guide. firo.org/guide/privacy-…
Dec 27, 2021 • 6 tweets • 2 min read
I know this is going to be embarrassing as a project lead but I wanted to share a scam that can get you if you're tired and not at your best and shows the huge UX issue that can happen with BTC.

User sends first confirmation bitcoin and it confirms, you send the coins /1 #BTC All the while you're on a call with the person, he sends the second batch of Bitcoin, the amount shows on your Trezor (the new Suite UI) and he starts hurrying you. What you don't notice is that it's with a low fee and will take hours to confirm. /2
Aug 7, 2021 • 10 tweets • 3 min read
1) Apple despite marketing itself as being for privacy is inexplicably introducing a new feature that would make your phone report to Apple who then reports to authorities if it detected child porn material (CSAM) on it. First of all does this truly solve the issue? #appleprivacy 2) Real offenders can easily use different devices and methods at the cost of the billion or so people now having a backdoor in their Apple device. Secondly, the system can be trivially modified to make your phone report on other non CSAM material.
Jan 14, 2021 • 17 tweets • 5 min read
/1 From what was just a desire to solve trusted setup and no fancy curve pairings in a privacy protocol to Lelantus coming live on $FIRO, it's been a wild ride! $XZC @aramjivanyan 2/ We first looked at bulletproof circuits which turned out to be a dead end due to poor performance. Verification times were several seconds long. We were crushed as we didn't have any immediate idea on how to bring Zcoin's tech forward.