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I love that they included Stuart Hoegner's tweet. Hoegner is a hilarious villain, sort of the Saul Goodman of Bitfinex/Tether (he's their GC). He was the head o

I love that they included Stuart Hoegner's tweet. Hoegner is a hilarious villain, sort of the Saul Goodman of Bitfinex/Tether (he's their GC). He was the head of compliance at Excapa, the parent company of the wildly non-compliant Ultimate Bet. That online poker site had a back door where some of their friends could see other poker players cards [1] Seeing him call anyone a liar - as he does regularly - is downright hilarious. After all, at one point he had all of Tether's entire backing dollars (a small fraction of outstanding USDT) with his personal funds in his Bank of Montreal account. [2] [1] https://bennettftomlin.com/2021/03/27/before-bitfinex-and-tether/ https://bennettftomlin.com/2021/03/27/before-bitfinex-and-te... [2] https://ag.ny.gov/sites/default/files/2021.02.17_-_settlement_agreement_-_execution_version.b-t_signed-c2_oag_signed.pdf https://ag.ny.gov/sites/default/files/2021.02.17_-_settlemen... section 17.

WalterBright 5y ago
> some of their friends could see other poker players cards Anyone who plays online poker for money is naive. The temptation for the programmers of such systems to cheat has to be enormous.
- jazzyjackson 5y ago
  Now that’s a system I’d like to see some innovation on: a smart contract card dealer that manages to keep your hand secret. Would be a great demo for a privacy coin.
  - lostmsu 5y ago
    Or a zero knowlege game.
- noxer 5y ago
  But decentral system are useless and everything works better if centralized ryt? Funny how "blockchains" solve problems exactly like the one you just pointed out.
  - arcticbull 5y ago
    It doesn't really though, and a centralized solution with verifiability is faster, more efficient and a better implementation. Heck, regulation is a better solution. That's how slot machines manage in Vegas. Doesn't mean doing it on the blockchain isn't neat or a fun project, the same way I implemented a GameBoy on an FPGA.
    - noxer 5y ago
      A slot machine in Vegas is objectively worse then a decentralized slot machine simply by the fact that someone takes a cut (Up to 25%). A decentral gambling system can be truly "fair", no third party that always wins. Regulations are not a better solution at all. Verifying, even if it would be simple, is meaningless if all I can verify is that the system is intentionally made with odds against the user but only as much as allowed legally.

WalterBright 5y ago

> some of their friends could see other poker players cards Anyone who plays online poker for money is naive. The temptation for the programmers of such systems to cheat has to be enormous.

jazzyjackson 5y ago
Now that’s a system I’d like to see some innovation on: a smart contract card dealer that manages to keep your hand secret. Would be a great demo for a privacy coin.
- lostmsu 5y ago
  Or a zero knowlege game.
noxer 5y ago
But decentral system are useless and everything works better if centralized ryt? Funny how "blockchains" solve problems exactly like the one you just pointed out.
- arcticbull 5y ago
  It doesn't really though, and a centralized solution with verifiability is faster, more efficient and a better implementation. Heck, regulation is a better solution. That's how slot machines manage in Vegas. Doesn't mean doing it on the blockchain isn't neat or a fun project, the same way I implemented a GameBoy on an FPGA.
  - noxer 5y ago
    A slot machine in Vegas is objectively worse then a decentralized slot machine simply by the fact that someone takes a cut (Up to 25%). A decentral gambling system can be truly "fair", no third party that always wins. Regulations are not a better solution at all. Verifying, even if it would be simple, is meaningless if all I can verify is that the system is intentionally made with odds against the user but only as much as allowed legally.