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Confirming basically everything I already suspected about IOTA -- don't trust anything crypto related that's not written by a professional. "You're gonna have

by loxias 9y ago

Confirming basically everything I already suspected about IOTA -- don't trust anything crypto related that's not written by a professional. "You're gonna have a bad time." [Edit to add this plug for Zcash! Made with real cryptographers]

IntronExon 9y ago
One priceless line from Ethan Heilman to support that observation: Probably best not to use informal stackoverflow answers and Wikipedia for understanding the security of your system. Yowza.
- flyGuyOnTheSly 9y ago
  IOTA is one of the only crypto currencies in the green today, however. Which is the real "yowza" imho.
  - loxias 9y ago
    The market can remain irrational for longer than you can remain solvent.
  - sheepz 9y ago
    This is because this information is celebrated as proof that there was in fact "no vulnerability in IOTA and it was all FUD" by Reddit (and possibly elsewhere) https://www.reddit.com/r/CryptoCurrency/comments/7zztey/full_emails_of_ethan_heilman_and_the_digital/ https://www.reddit.com/r/CryptoCurrency/comments/7zztey/full...
  - IntronExon 9y ago
    Did you also invest in Juicero? How about Magic Leap? Enron? Being in the green just means you’ve convinced a critical mass of greedy, ignorant people that you’re a winner.
    - whymauri 9y ago
      What's wrong with Magic Leap? Just curious, I've never heard anything negative.
      - IntronExon 9y ago
        Sorry about the slow reply, it’s a very reasonable question you’re asking. http://www.kguttag.com http://www.kguttag.com Let your fingers do the walking.
        whymauri 9y ago
        Thank you :)
- loxias 9y ago
  I know, right? I read through the whole exchange and kept thinking "How are they managing to be so polite, to these rank amateurs who show no respect?" I probably would have informed them of the flaw, informed them when I was publishing, informed of a suggested fix then piped all the rest to /dev/null. I also positively love the use of "push it to the limit".
  - bri3d 9y ago
    I quite enjoyed > Did you receive the invite? We can also setup a chat with our ex-NSA post-Quantum hash function experts after we get the initial confusion out of the way.
  - eastWestMath 9y ago
    It honestly gave me flashbacks to a few email chains I've had with students in my tutorials. It's really obvious when someone is asking for clarification but it's not in good faith "Can you explain to me what you think I did wrong in my program? I can assure you everything is correct. Otherwise you're clearly drunk and out to get me."
- hatsunearu 9y ago
  Are you sober? hahahaha fuck me, this is good stuff.
  - Tomte 9y ago
    Obviously Sergey isn't mean, but it's just unfortunate phrasing, because he is a non-native speaker, learning English from Java documentation, right? ;-) Neha's "I'm going to stop responding now." should have come much earlier.
    - flaminghedge 9y ago
      This was from David not Sergey.
eastWestMath 9y ago
I recognize one of the IOTA foundation's members. I won't say his ego wasn't out of control and several professors asked him to take down "papers" from arxiv for being sloppy.
emmelaich 9y ago
> You're gonna have a bad time." A major wake-up call for me in the crypto currency world was Gavin Andresen's ludicrous "validation" of Colin Wright as Satoshi. When a so-called leader clearly does not even understand the basics you realise it's 98% shit. Sturgeon's law applies again. But I keep on forgetting that.
- loxias 9y ago
  The crypto world has certainly inspired me to pursue whole new fields of research. Not in cryptocurrencies, because while the idea of a distributed ledger I think is solid and here to stay, but because at least 90% of these "currencies" must have their value drop to zero given a long enough time frame -- there's simply no reason for the market to support anything else. No, for the past half a year or so I've been trying to learn all I can about market microstructure, quantitative finance, anything that makes money off of high variance. Because if there's one thing I will bet on, it's that there's a ton of risk and volatility here in these hills, and there's probably money to be made somehow while it all crashes and burns.
  - charleslmunger 9y ago
    This is an extremely dangerous way to think - it preys on the natural irrationality of the human mind. Someone is out there laying bait of all kinds. Iota is bait for people who think they barely missed out on bitcoin, but this new thing with buzzword salad as it's description and a lead developer that has clearly lost touch with reality will make then rich. Then there's the second level bait - since there are all these suckers out there, surely money can be made by predicting them! And then it's turtles all the way down. You won't know if you're a sucker or at the very top level until it all comes crashing down.
- hatsunearu 9y ago
  >Gavin Andresen's ludicrous "validation" of Colin Wright as Satoshi I'm out of the loop; do you have any good summaries of this incident?
  - 9y ago
eastWestMath 9y ago
Smart contract languages are pretty funny - I have yet to see an actual programming language theorist weigh in on them. I read one blogger who was very excited about the type system he was making for his language, but he never actually explained what a type-safe smart contract would entail (i.e. what invariants are encoded into the type system, why do these invariants do the thing, etc).

by loxias 9y ago

IntronExon 9y ago

One priceless line from Ethan Heilman to support that observation: Probably best not to use informal stackoverflow answers and Wikipedia for understanding the security of your system. Yowza.

flyGuyOnTheSly 9y ago
IOTA is one of the only crypto currencies in the green today, however. Which is the real "yowza" imho.
- loxias 9y ago
  The market can remain irrational for longer than you can remain solvent.
- sheepz 9y ago
  This is because this information is celebrated as proof that there was in fact "no vulnerability in IOTA and it was all FUD" by Reddit (and possibly elsewhere) https://www.reddit.com/r/CryptoCurrency/comments/7zztey/full_emails_of_ethan_heilman_and_the_digital/ https://www.reddit.com/r/CryptoCurrency/comments/7zztey/full...
- IntronExon 9y ago
  Did you also invest in Juicero? How about Magic Leap? Enron? Being in the green just means you’ve convinced a critical mass of greedy, ignorant people that you’re a winner.
  - whymauri 9y ago
    What's wrong with Magic Leap? Just curious, I've never heard anything negative.
    - IntronExon 9y ago
      Sorry about the slow reply, it’s a very reasonable question you’re asking. http://www.kguttag.com http://www.kguttag.com Let your fingers do the walking.
      - whymauri 9y ago
        Thank you :)
loxias 9y ago
I know, right? I read through the whole exchange and kept thinking "How are they managing to be so polite, to these rank amateurs who show no respect?" I probably would have informed them of the flaw, informed them when I was publishing, informed of a suggested fix then piped all the rest to /dev/null. I also positively love the use of "push it to the limit".
- bri3d 9y ago
  I quite enjoyed > Did you receive the invite? We can also setup a chat with our ex-NSA post-Quantum hash function experts after we get the initial confusion out of the way.
- eastWestMath 9y ago
  It honestly gave me flashbacks to a few email chains I've had with students in my tutorials. It's really obvious when someone is asking for clarification but it's not in good faith "Can you explain to me what you think I did wrong in my program? I can assure you everything is correct. Otherwise you're clearly drunk and out to get me."
hatsunearu 9y ago
Are you sober? hahahaha fuck me, this is good stuff.
- Tomte 9y ago
  Obviously Sergey isn't mean, but it's just unfortunate phrasing, because he is a non-native speaker, learning English from Java documentation, right? ;-) Neha's "I'm going to stop responding now." should have come much earlier.
  - flaminghedge 9y ago
    This was from David not Sergey.

eastWestMath 9y ago

I recognize one of the IOTA foundation's members. I won't say his ego wasn't out of control and several professors asked him to take down "papers" from arxiv for being sloppy.

emmelaich 9y ago

> You're gonna have a bad time." A major wake-up call for me in the crypto currency world was Gavin Andresen's ludicrous "validation" of Colin Wright as Satoshi. When a so-called leader clearly does not even understand the basics you realise it's 98% shit. Sturgeon's law applies again. But I keep on forgetting that.

loxias 9y ago
The crypto world has certainly inspired me to pursue whole new fields of research. Not in cryptocurrencies, because while the idea of a distributed ledger I think is solid and here to stay, but because at least 90% of these "currencies" must have their value drop to zero given a long enough time frame -- there's simply no reason for the market to support anything else. No, for the past half a year or so I've been trying to learn all I can about market microstructure, quantitative finance, anything that makes money off of high variance. Because if there's one thing I will bet on, it's that there's a ton of risk and volatility here in these hills, and there's probably money to be made somehow while it all crashes and burns.
- charleslmunger 9y ago
  This is an extremely dangerous way to think - it preys on the natural irrationality of the human mind. Someone is out there laying bait of all kinds. Iota is bait for people who think they barely missed out on bitcoin, but this new thing with buzzword salad as it's description and a lead developer that has clearly lost touch with reality will make then rich. Then there's the second level bait - since there are all these suckers out there, surely money can be made by predicting them! And then it's turtles all the way down. You won't know if you're a sucker or at the very top level until it all comes crashing down.
hatsunearu 9y ago
>Gavin Andresen's ludicrous "validation" of Colin Wright as Satoshi I'm out of the loop; do you have any good summaries of this incident?
- 9y ago

eastWestMath 9y ago

Smart contract languages are pretty funny - I have yet to see an actual programming language theorist weigh in on them. I read one blogger who was very excited about the type system he was making for his language, but he never actually explained what a type-safe smart contract would entail (i.e. what invariants are encoded into the type system, why do these invariants do the thing, etc).