Tag: cryptocurrencies

40 links

moxie.org > Moxie Marlinspike
My first impressions of web3
7 jan. 2022 - Despite considering myself a cryptographer, I have not found myself particularly drawn to “crypto.” I don’t think I’ve ever actually said the words “get off my lawn,” but I’m much more likely to click on Pepperidge Farm Remembers flavored memes about how “crypto” used to mean “cryptography” than I am the latest NFT drop.
 · blockchain · coinbase · cryptocurrencies · decentralization · nft-s · opensea · web3

arxiv.org > Nassim Nicholas Taleb
Bitcoin, Currencies, and Fragility
4 jul. 2021 - This discussion applies quantitative finance methods and economic arguments to cryptocurrencies in general and bitcoin in particular -- as there are about 10,000 cryptocurrencies, we focus (unless otherwise specified) on the most discussed crypto of those that claim to hew to the original protocol (Nakamoto 2009) and the one with, by far, the largest market capitalization. In its current version, in spite of the hype, bitcoin failed to satisfy the notion of "currency without government" (it proved to not even be a currency at all), can be neither a short nor long term store of value (its expected value is no higher than 0), cannot operate as a reliable inflation hedge, and, worst of all, does not constitute, not even remotely, a safe haven for one's investments, a shield against government tyranny, or a tail protection vehicle for catastrophic episodes. Furthermore, bitcoin promoters appear to conflate the success of a payment mechanism (as a decentralized mode of exchange), which so far has failed, with the speculative variations in the price of a zero-sum maximally fragile asset with massive negative externalities. Going through monetary history, we show how a true numeraire must be one of minimum variance with respect to an arbitrary basket of goods and services, how gold and silver lost their inflation hedge status during the Hunt brothers squeeze in the late 1970s and what would be required from a true inflation hedged store of value.
 · anti-fragility · bitcoin · cryptocurrencies

tweakers.net > Stephan Vegelien
DNB: cryptohandelaren hoeven toch niet steeds identiteit van klanten te bewijzen
21 may. 2021 - De Nederlandsche Bank stopt met het verplicht identificeren van klanten bij elke transactie voor cryptohandelaren. Tegen die eis spande het Nederlandse handelsplatform Bitonic onlangs een kort geding aan. Bedrijven moeten transacties wel screenen, maar verplicht identificeren vervalt.
 · bitcoin · bitonic · cryptocurrencies · identification · netherlands · regulation

crookedtimber.org > Jessica Green
Can the World’s Bankers Really Save the Climate?
6 may. 2021 - The Ministry for the Future (TMFTF) should be lauded for reimagining global climate governance. It recognizes what many climate scholars do not: climate change is in large measure, a problem of extreme wealth and wealth inequality. Thus, addressing the climate crisis requires discussing “potential alternatives to the global neoliberal order” (155). Moreover, the Ministry is keenly aware of the shrinking window for action. Addressing climate change is a race against time, rather than a “tragedy of the commons.” Thus, we should be less worried about getting everyone to participate in international agreements, and more worried about acting quickly, since delay will make climate problems harder to solve, and could result in irreversible changes. What follows from these two premises is nothing less than a wholesale reimagining of the global economy, as enacted through coordinated efforts by the world’s biggest central banks. However, the Ministry’s proposed technocratic solutions overlook the messiness of domestic politics, and the huge challenge of constraining powerful anti-climate interests.
 · banking · blockchain · carbon-pricing · climate-change · cryptocurrencies · inequality

signal.org > Jun Harada
Update on beta testing payments in Signal
13 apr. 2021 - As the world stands today, the future of transaction privacy does not look great. The existing landscape is dominated by traditional credit companies, who over the past decade have been steadily pushing their networks for increased access to user data. They (and their data customers) are on a track to getting SKU level data of every purchase everyone makes everywhere. There are other contenders, such as regional online payments networks (like Venmo in the US), but the data story there is similar.
 · cryptocurrencies · micropayments · privacy · signal

www.schneier.com > Barath Raghavan and Bruce Schneier
Illegal Content and the Blockchain
15 mar. 2021 - Security researchers have recently discovered a botnet with a novel defense against takedowns. Normally, authorities can disable a botnet by taking over its command-and-control server. With nowhere to go for instructions, the botnet is rendered useless. But over the years, botnet designers have come up with ways to make this counterattack harder. Now the content-delivery network Akamai has reported on a new method: a botnet that uses the Bitcoin blockchain ledger. Since the blockchain is globally accessible and hard to take down, the botnet’s operators appear to be safe.
 · bitcoin · blockchain · botnets · censorship · china · cryptocurrencies · metcalfes-law · security · tor · trust