Notices by cjd (cjd@pkteerium.xyz)
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This really feels like the Shoe Shine Boy moment :S
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I remember the fire chief in the (small) town I grew up in had ONE bumper sticker on his truck that just said "I love my wife."
Back then I didn't really get it, but now being happily married I can see he was just flexing - and I kind of want one myself.
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Briton is not a real country.
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The thing about substantial engineering effort is that there's a time component that you just can't get around.
For all the talk you hear about breakthroughs, real world technological progress is astonishingly linear. You can generally put a ruler on a chart and declare that in 2035, batteries will be this cheap and this efficient.
There will come a point at which this tech actually makes economic sense and when that point comes, it's going to be a LCD TV moment where suddenly everyone just switches. But it's going to take longer than the EV fanboys want to believe.
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It probably will, but only after another 10-15 years of R&D, economies of scale, etc. It's just not quick, and government interventionism makes it worse because government interventionism makes EVERYTHING worse.
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Cleaning out my parents attic, found a rare book. What do you think it's worth?
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I DONT UNDERSTAND WHATS GOING ON, WE VOTES TO RAISE THE MINIMUM WAGE, NOT THE PRICE OF FOOD
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Ok so they're writing sanctions on China, but they're not planning to use them.
So basically they're just going to throw them in a filing cabinet so they can pull them out real quick if needed, like they did with ... The Patriot Act.
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Yesterday I drove on this "roundabout" for the first time ever. The reason why everything is crazy is because it's 8 lanes or something (of course they're not painted at all) and people ENTERING have right of way.
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DONT WORRY POWELL AND YELLEN GOT OUR BACKS WE ALL GONNA BECOME MILLIONAIRES SOON
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Money laundering is the conversion of ill gotten gains into something which looks like legitimate income.
For example, if you have a bunch of cash, you can't buy a house with it because you're going to have to explain your source of funds.
So running a cash-only business with a lot of "customers" is a way you can turn cash into justified business income. That is money laundering.
HOWEVER, if you have a bunch of cash, and I have a bunch of cash, and we decide to exchange notes because don't like the government tracking us by scanning the serial numbers on them, that is NOT money laundering. If your cash was unexplained before, it's still unexplained after.
Calling crypto privacy tech money laundering is a nOtHiNg To HiDe take. Don't defend the surveillance state, it makes you sound like a loser.
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People will actually defend this. The low testosterone crisis is out of control.
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LOL
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Samourai Wallet, a Bitcoin privacy service, has been shut down and its founders arrested! 😱
A Bitcoin-only noncustodial CoinJoin service, Samourai gave users privacy by allowing them to coordinate with other users to mix their funds to break the transaction graph.
To the best of my knowledge (obviously I don't know all the details), they did nothing wrong! Simply operating a privacy protocol that allows users to strengthen their own privacy should not be a crime!
This continues to set the horrible precedent that the Tornado Cash arrests began, criminalizing the development of open-source software.
Is all privacy in crypto now under legal threat? 😬
I don't think so. But the fact that I don't know for sure anymore is concerning.
Taking a step back, though, let's look at some of the things focused on in this case to see if we can find a common thread. Remember, many privacy protocols, including the Zcash team, has not fallen victim to anything like this (yet).
According to the DOJ, Samourai:
🕵️Was a company-like entity (profited)
🕵️Explicitly provided services for privacy
🕵️Operated infrastructure directly
🕵️Openly advertised to criminals
🕵️Had criminal activity traced to the service (including sanctions evasion, which the US war machine particularly doesn't like)
🕵️Evidence founders knew about this
Judging from the Tornado Cash case, as well as the SEC going after Uniswap, it seems like the "It's noncustodial and open-source" loophole doesn't work anymore:
If you operate like a company, run infra/front-ends like a company, take profit like a company, you probably will get targeted!
Of course, the sad part in all this is, we don't actually know how for sure how to develop crypto while staying out of jail! This is just speculation (and definitely not legal advice, before someone comes at me).
We should be able to develop privacy tools without fear of prison. But that's not the reality of 2024.
In the meantime, probably the best route is to bake privacy directly into the protocol, without segregated third-party apps or smart contracts run by teams who can be explicitly targeted and accused of laundering.
Privacy by default is the way!
If the core protocol inherently lets users be private, and it has many legitimate uses, it's much harder to make the case for laundering or anything criminal by the developers.
But just in case, open-source privacy devs should probably stay outside of the US and western Europe, and stay as anonymous as possible.
We're building the free financial system of the future. We are doing nothing wrong, but this is inherently a threat to the powers that be! We can try to make sure we stay fully legally-compliant. But we're never going to be 100% sure.
Sad day. Free
@RealRossU
, free
@alex_pertsev
and the Tornado Cash crew, free
@FTL_Ian
, now free
@SamouraiWallet
@SamouraiDev
.
Privacy is normal, and a fundamental human right.
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It's not everyday that your memes comment on your posts...
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Lol
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moldbug-gpt-70b
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Everybody wants to find something secretly wrong with this guy, but the only really relevant question is whether he's making life better for the average Argentinian, and so far it seems like he is.
But on the other side, I'm not going to cheerlead every accomplishment that he makes. I just expect him to keep on delivering.
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This is all your fault. Every time you post the n-word some poor woman gets herpes 😭
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What you're describing is the financial equivalent of a perpetual motion machine. It SOUNDS really plausible, but it cannot possibly exist.
If a company is poorly run, and there's a way to objectively KNOW that its poorly run, then there's money to be made shorting the stock.
Anywhere that there's money to be made, there is always going to be SOMEONE making that trade, and if it's reliable money then word is going to spread quickly until EVERYONE piles into the trade. In the public markets, a truly bad company would go down in flames overnight.
You might think these people are overpaid, and some academic might think they're overpaid, but the people who are the best in the world at making profitable investments are not convinced.
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