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ZeroStableCoin is out from stealth mode
- kken 4y agoTheir "affiliation" from the paper linked in twitter. >stablecoin technical university for personal inclusive development Is this a joke? Edit, yes it apparently is: Initials spell "STUPID"
- manojlds 4y agoWhile it's tough in crpyto world, it's obviously a joke
- deleted 4y ago[deleted]
- matthewsinclair 4y agoThe full whitepaper for this ... ahem ... innovative new stable coin can be found here [0]. [0]: https://drive.proton.me/urls/1RFB88C5CM#pBGuJ3EoFJAD https://drive.proton.me/urls/1RFB88C5CM#pBGuJ3EoFJAD
- lopatin 4y ago3.2 Proof of Stability ... Proof: Left as an exercise
- heliodor 4y agoA few lines above it says their mathematicians proved the theorem.
- pphysch 4y agoAnd I just proved P=NP while sitting on the toilet
- DonHopkins 4y agoI just proved #2 > #1 while sitting on the toilet.
- ccrush 4y agoPoop != No Poop. I have proven this on the toilet many times. Sorry.
- ntoskrnl 4y agoYour funds are safe. I have discovered a truly marvelous proof of this, which this margin is too narrow to contain.
- likecarter 4y agoI don’t understand how the equation has anything to do with stability, nor finance. They also didn’t define the terms. Is this supposed to be a joke? Can someone explain?
- jcalvinowens 4y agoYes, it's satire
- ntoskrnl 4y agoIt's satire. ZeroStableCoin, the coin that is stable at zero.
- zerostablecoin 4y agoWhy yes we can. The visionary pioneer of stablecoins (and occasional mathematician) Cauchy came up with a theorem to determine if the path you take with your investments in fact adds up to zero. We do not just hope that our coin has a stable value. We constantly check contours of complex functions to ensure your investment remains at zero at all times.
- madvoid 4y agoI love that the whitepaper doesn't actually have any white pages...
- mhluongo 4y ago> 1 ZERC = 1$ = 1£ = 1€ = 1 BTC lol
- jfk13 4y agoI would say it's a nice joke, except that the entire field is so rife with ridiculous claims and pseudo-mathematical claptrap that it's beyond satire... > ZeroStableCoin is the first multi-peg stablecoin: > 1 ZERC = 1$ = 1£ = 1€ = 1 BTC
- ethbr0 4y agoIs there an internet law that the stability of any idea is inversely proportional to the amount of suckers a well-constructed parody can fool into investing? (a) If not, there should be, (b) if there were a way to pre-buy ZeroStableCoins, this would have already attracted >$0, and (c) those investors would already be spreading the gospel and shouting down naysayers.
- snikeris 4y agoIt’s like a Turing test for suckers
- gitfan86 4y agoRight, people claiming that BTC will the the only currency in the future are equally as reasonable as people who think that this is a great technology.
- deleted 4y ago[deleted]
- likecarter 4y agoAh, it’s satirical.
- deepGem 4y agoI usually don't catch satire that easily but somehow this headline screams satire and the first line was a dead giveaway.
- hacker_newz 4y agoHow'd you figure that one out?
- deleted 4y ago[deleted]
- m00dy 4y agoWoC has already addressed the fact that the market needs much more stable coins than Luna/UST on Terra Network. Could ZeroStableCoin be the one ? [0]: https://www.worldofcrypto.io/blog/we-should-let-luna-die https://www.worldofcrypto.io/blog/we-should-let-luna-die
- glitchc 4y ago> For extra safety, ZeroStableCoin’s total supply is set to 0, a defenseindepth mechanism to prevent any deviation from the peg. Can’t steal anything if there’s nothing to steal. Brilliant.
- kangaroozach 4y agoTook me 3 pages to realize it’s satire! Lol
- jaquer_1 4y ago
- deleted 4y ago[deleted]
- hkgjjgjfjfjfjf 4y ago
- swagonomixxx 4y agoAs someone who works in crypto this is God freaking hilarious! Kudos.
- matthewsinclair 4y agoSee also: Poe's Law [0] [0]: https://en.wikipedia.org/wiki/Poe%27s_law https://en.wikipedia.org/wiki/Poe%27s_law
- hedora 4y agoIf only there were a polynomial time way to validate a transaction...
- jmacd 4y agoI think the fact that this is so obviously satirical and well executed, but I had to closely read the white paper and fight against the "these crypto things have so much momentum, clearly people understand things I don't" bias that has developed in my brain around these ridiculous projects probably tells us something about what has passed for real in the last 3 years. I've gone from being unengaged bystander on crypto to feeling pretty strongly that almost everything crypto is going to zero. I think if it survives, the crypto community is in for a reckoning much like 2000. Bitcoin will be the Yahoo (a brand that survives, but does not create new value, and stagnates) and all the alt-coins are the Pets.com etc of the era. Poof, gone, vanished.
- tenuousemphasis 4y ago>feeling pretty strongly that almost everything crypto is going to zero. People have been saying the same thing for over 10 years. So far that hasn't been a good bet.
- mirntyfirty 4y agoThe next few years will see a sharp decline in liquidity that will decrease speculation compared to the last 10 years.
- proto-n 4y agoPeople also have been saying a recession is nigh for 10 years with it being the wrong bet. Until suddenly it wasn't.
- dsr_ 4y agoI anticipate a great boom in ZeroStableCoin. It will be called the ZERC Rush.
- deleted 4y ago[deleted]
- DonHopkins 4y agoThis series of presentations explains how ZeroStableCoin perfectly mitigates and protects users from Monstrous Cookie Attacks and Double Counting Attacks, as described in the paper by Goldfeder, Kalodner, Reisman, and Narayanan: https://www.youtube.com/watch?v=xjHSPyFjZpc https://www.youtube.com/watch?v=xjHSPyFjZpc https://www.youtube.com/watch?v=1ZoIP4aoM0g https://www.youtube.com/watch?v=1ZoIP4aoM0g https://www.youtube.com/watch?v=jwoWBrT-FyU https://www.youtube.com/watch?v=jwoWBrT-FyU https://www.youtube.com/watch?v=h-nI7t2IJSY https://www.youtube.com/watch?v=h-nI7t2IJSY https://arxiv.org/abs/1708.04748 https://arxiv.org/abs/1708.04748 >When the cookie meets the blockchain: Privacy risks of web payments via cryptocurrencies >Steven Goldfeder, Harry Kalodner, Dillon Reisman, Arvind Narayanan >We show how third-party web trackers can deanonymize users of cryptocurrencies. We present two distinct but complementary attacks. On most shopping websites, third party trackers receive information about user purchases for purposes of advertising and analytics. We show that, if the user pays using a cryptocurrency, trackers typically possess enough information about the purchase to uniquely identify the transaction on the blockchain, link it to the user's cookie, and further to the user's real identity. Our second attack shows that if the tracker is able to link two purchases of the same user to the blockchain in this manner, it can identify the user's entire cluster of addresses and transactions on the blockchain, even if the user employs blockchain anonymity techniques such as CoinJoin. The attacks are passive and hence can be retroactively applied to past purchases. We discuss several mitigations, but none are perfect.
- sillyinseattle 4y agoHaha... pegged to 1 + e^(ipi) i.e. 1 + cos(pi) + isin(pi) i.e. 0. Nice of them to make the satire obvious in the twitter post image itself.
- deleted 4y ago[deleted]
- hestefisk 4y agoThey even reference Backstreet Boys in the bibliography section. Golden.
- frob 4y agoWow. This satire is so pitch-perfect that I honestly believed this was another scam at first. Thw sad thing is, almost any scam-coin will list things like this. I had a good chuckle at quantum-proof and P=NP-proof. However, I give it at least a 30% chance someone spins up a ZeroStableCoin chain in the next 7 days.
- olalonde 4y agoIronically, if this coin was traded on a cryptocurrency exchange it would probably trade at above 0$ and therefore deviate from its 0$ peg. Edit: I spoke too soon. They anticipated this issue and prevented it by setting the total supply to 0. Brilliant.
- yellowapple 4y agoWouldn't setting the supply to zero produce a trade value of infinity? Likewise, you'd want an infinite supply for a $0 peg.
- evanb 4y agoCareful; you need to apply L'Hopital's rule.
- raphlinus 4y agoI so want to own this coin, and was initially disappointed by this news, but then realized that by an application of hard work and a certain amount of investment, it is possible for me to own just over half of the total market cap. Good thing it is provably safe against 51% attacks.
- frob 4y agoHah, it's pegged to e^{pi * i} + 1 Pounds. This is the most honest valuation of a coin I've ever seen.
- carterschonwald 4y agoaka zero! thx to eulers identity
- Havoc 4y agoWas about to say terrible timing but lol
- nicbou 4y ago> "tell me why?" [BB99] They're quoting the Backstreet Boys. Brilliant
- yellowapple 4y agoSomehow instead I got "tell me lies, tell me sweet little lies" stuck in my head.
- charcircuit 4y agoThis isn't even an ERC-20 token because there is no transfer method. Also being worth nothing makes this useless as a stablecoin. >1 ZERC = 1$ = 1£ = 1€ = 1 BTC The white paper made no effort to explain how I can trade $1 for 1 BTC. This is an unrealistic peg.
- hakfoo 4y agoMaybe you need a source of guaranteed zeroes for another process-- the equivalent of /dev/zero? Burn another type of token by swapping it for ZESC?
- sagarpatil 4y agoMy first thought, this stable coin has zero in it, not very promising.
- uniformlyrandom 4y ago> The astute reader will notice, however, that the denomination choice is of little importance in our stablecoin’s design > ZeroNFT, an NFT that not only has zero value (as most NFTs), but a guaranteed price of zero I actually laughed out loud at these two.
- cryptosubtlety 4y ago"1.2 Related work Whereas we use zero to solve humanity’s problems, other researchers have only used zero to attack crypto graphic protocols [Qua21a; Qua21b] (ZeroStableCoin is provably immune to such attacks)." ZeroStableCoin is not safe. We can create 1 and hence arbitrary number from 0 :) To reproduce: type 0^0 in https://sagecell.sagemath.org https://sagecell.sagemath.org or 0**0 in python, the result will be 1.
- neurostimulant 4y ago> - Privacy-preserving > - Provably rug-pool proof, MEV-proof, run-proof > - Post-quantum & post-P=NP > - Multi-chain & multi-layer > - Currency-inclusive > - Fully collateralized > - Inflation-proof Sigh... Another crypto projects claiming outlandish thing... > ZeroStableCoin is the first multi-peg stablecoin. This is possible thanks to properties of ( e^{i π} + 1 ). Took me this far to realized this is satire, which sadly reflects the current state of crypto industry.