dcolkitt

18 ms·

121.
by dcolkitt 4y ago
Told by whom?
122.
by dcolkitt 4y ago
With modern ZK tech, the day is quickly approaching where the government won’t even know you have bitcoin in the first place
123.
by dcolkitt 4y ago
Wrong. For example courts have consistently ruled that you can’t be compelled to unlock your phone or decrypt your hard disk if you’re invoking the 5th
124.
by dcolkitt 4y ago
You've obviously never heard of the Fifth Amendment. It's actually quite the opposite, the Constitution enhances your right to privacy (by refusing to talk about something) when doing so could be used to prosecute you for a crim
125.
by dcolkitt 4y ago
> If the international law enforcement community is really trying to go after "all cryptographers" why do you think we haven't seen more arrests? Why do you think they only arrested this guy? Because the standard playbook
126.
by dcolkitt 4y ago
A lot of the apologists for this are making arguments along the lines of "being decentralized doesn't make you exempt from the rules" or "imagine if a bank laundered this much money". The problem is it doesn't
127.
by dcolkitt 4y ago
Caste is not a protected class in US employment law. Arguably there might be a basis for a suit if you could show that it reasonably projects onto an existing protected class, but it's not clear to me that you could.
128.
by dcolkitt 4y ago
Ridiculous. E2E encryption leads to a loss of freedom, privacy, and control because it empowers exactly the kind of people who want to take those things away from you.
129.
by dcolkitt 4y ago
> Welcome to the real world consequences of interacting with systems that are counter to wider societies aims. ...said every totalitarian government in history
130.
by dcolkitt 4y ago
Child pornography isn’t illegal because of the contents of the speech. It’s illegal because it’s an accessory to the original crime of child molestation. That is why the Supreme Court has consistently ruled that virtual child pornography, e
131.
by dcolkitt 4y ago
Weimar Germany already had extensive laws regulating and restricting speech. Those same exact laws were turned against the early opponents of the Nazis. I don’t know if the First Amendment would have stopped the totalitarian takeover of Ger
132.
by dcolkitt 4y ago
How is it any different than any other startup compensating its employees or vendors with equity instead of cash? Generally it makes sense for an early stage company to convince its partners to take equity or equity like instruments instead
133.
by dcolkitt 4y ago
There's plenty of capital to grow small but profitable businesses. But it generally comes from in the form of a small business loan from a regional bank. Venture capital is explicitly a model seeking homeruns not singles. Being mad at
134.
by dcolkitt 4y ago
What? Fidelity has a huge digital assets division and literally added Bitcoin as a 401(k) option
135.
by dcolkitt 4y ago
Seems very unlikely. If it was a deliberate bug, the contract wouldn’t have been slowly drained over hours. The attacker would have known how to exploit well ahead of time, and had transactions/contracts/infra ready to grab the fu
136.
by dcolkitt 4y ago
They’re not. The vast majority of early liquidity in this and most DeFi protocols is raised from institutions, VCs, and trading firms. This is especially the case for protocols like Nomad that don’t yet have a native token. They’ll get liqu
137.
by dcolkitt 4y ago
Somebody who directly invested the majority of their money in an experimental bridge protocol that raised its seed round 3 months ago is by definition not a normie.
138.
by dcolkitt 4y ago
Yes, they pay short term capital gains taxed as ordinary income for equities. For futures they pay a blended 60/40 long-term/short-term rate, since all the futures trading is taxed that way (including for retail)
139.
by dcolkitt 4y ago
You can think what you want about Stephen Diehl. But it should be pointed out that for all his criticisms of crypto, he is the co-founder and CTO of a blockchain company that explicitly competes with and has a vested interest in the failure
140.
by dcolkitt 4y ago
Okay… but why does this work with pizza?
141.
by dcolkitt 4y ago
Because you can just use Tornado cash to anonymize Ethereum, and then you still have full access to the gamut of tokens, stablecoins and applications running on Ethereum.
142.
by dcolkitt 4y ago
Misappropriating fiduciary information is literally the legal basis for insider trading. There's a common fallacy that insider trading is illegal because the government wants to enforce a "level playing field". Nothing could
143.
by dcolkitt 4y ago
But we have stablecoins, like USDC, to act as on-chain dollars. The point is in a world of very robust decentralized exchanges, it's easy to buy tokens with dollars (or vice versa), by sending dollars from your bank account to Circle,
144.
by dcolkitt 4y ago
If you think that’s bad, just wait until you see what salaries look like for postdocs in theoretical physics. The economy does not reward people for how smart they are, how impressive their credentials are, or how hard their skills were to
145.
by dcolkitt 4y ago
The counterpoint is that regional support for the Nazis generally indicates the opposite. Their weakest electoral performance was in the West and South, which generally was the wealthiest and most liberal part of Germany. By contrast their
146.
by dcolkitt 4y ago
I'm sorry, aren't the balance of accounts the key component of the ledger? So wouldn't fraudulently changing account data would pretty much be the definition of altering the ledger? What kind of thing to you would constitute
147.
by dcolkitt 4y ago
> It does have to do with mobility of capital in that many of these "international" competitors are still reliant on American capital and are owned in no small part by American institutional investors. The Japanese auto indust
148.
by dcolkitt 4y ago
> In recent history have there been examples of banks changing their own ledgers? Yes. https://en.wikipedia.org/wiki/Wells_Fargo_account_fraud_scan...
149.
by dcolkitt 4y ago
> Auto factory jobs (which were outsourced) The decline of Detroit UAW auto industry definitely weren't outsourced. It certainly wasn't GM that opened car factories in Japan and Germany. And it certainly wasn't GM sharehol
150.
by dcolkitt 4y ago
> If the USA is going to allow manufacturers to outsource the majority of well-paid (~$30/hr avg) manufacturing jobs to Mexico and China What? You think overseas manufacturers are paying $30 an hour? It wasn't high-skilled manu

More ›