@xuanling11
@xuanling11
Self-proclaimed Bitcoin creator Craig S. Wright won the legal case for £1 Self-proclaimed Bitcoin creator Craig S. Wright won the legal case for £1. Now, a former Bitcoin user and now self-proclaimed Bitcoin creator, Craig S. Wright, has been awarded a legal claim against Peter McMcormack in damages. Wright brought the case against the Peter McMcormack accused Wright of fraud and a moron. Today, the court ruled in Wright's favor. The case eventually concluded below:…
@xuanling11
Ethics of Crypto Is there an Ethics of Crypto in general? Probably not. https://twitter.com/Rothmus/status/1554185118704607235 As digital currencies have widespread adoption, the financial and social benefits have grown steadily. Now, users of virtual currencies — like people who store their cash online — are also using them to buy and sell goods and services. In other words, the future of finance may be cryptocurrency trading. With that in mind, it’s important to understand…
@xuanling11
Crypto hacking is inevitable Cryptocurrency is a decentralized digital currency that can be used almost anywhere. But now, more than ever before, researchers are uncovering new threats to cryptocurrency and its users. In an age of digital disruption, governments are beefing up security measures on platforms like online payment services, online storage services and online storage solutions. Users of these services have access to sensitive data about their personal details,…
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The parallel money system Why has the government been questioned when deciding to interfere with the economy? Why do we have recessions and even depressions in the first place? Milton Friedman was an American economist who questioned the government's position when it interfered with the economy. Opposite to Keynesian economics, which supports government intervention, Milton claimed that the government was a guilty one who constantly caused the economy to run into recession…
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The Crypto has no greed problem Hacking, rug pulls, VC bankruptcies, and founders running away with their luxury cruises are just a few that you see in Hollywood movies but occur in the crypto world. Many people blame people's greed in the crypto market and believe the government should regulate people's greed. Does that actually work? https://twitter.com/JohnReedStark/status/1554840811178807296 **A free market with greed** Some said the free market is a wild west because…
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Banks are secretly hoarding crypto In the digital economy, everything is connected. As a result, banks are hogging digital currency to protect their wealth and secure deposits. As a result, banks are worrying about their future. Banks are not growing faster than the money created by the government. Cryptocurrency, on the other hand, is growing faster than ever. **What’s up with all the digital currency being stored on bank servers?** Depending on your perspective, digital…
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Why there is not crypto banking exist We have always heard about cryptocurrencies, crypto exchange, banking, and trading platforms, but we do not really grasp the idea of crypto banking. Crypto banking is a contradicted idea. If crypto is to replace banks and give users full control of digital money, why do you put your crypto into the bank? The new research paper argued that there are risks for banks to adopt crypto, but they did it anyway.…
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Financial sanction to mixers Have you heard about financial sanctions from the US on virtual currency? At least, I have not yet. But the US Department of Treasury has issued sanctions on two crypto services: Blender.io and Tornado Cash. https://home.treasury.gov/news/press-releases/jy0768 https://home.treasury.gov/news/press-releases/jy0916 https://twitter.com/SecBlinken/status/1556677862345801728 To clarify, the US sanctions on tools but not target specific entities or…
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The Future of Machine War II In late 2021, I wrote an article about A.I. vs. Blockchain. I realized it was closer than I expected. https://medium.com/@xuanling11/artificial-intelligence-vs-blockchain-the-future-of-machine-war-b685d208ba20?sk=874af90c7acbe857fa004c0ebe0d5e28 **Web2 is leading a future of technological centralism.** The way we see the world in ancient is what we saw became what we believed. Later, the enlightenment process helped humans realize what they had…
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Why Gold System Comes Back The modern financial system hates the gold system, which makes gold a fiat currency. Because they claimed the gold system created too many unnecessary financial crises. But the real problem is the corrupted system was designed to abandon the gold standard. **The Newton's System** https://www.youtube.com/watch?v=n6lRdH1EzIo Many people may not be familiar with the 17th-century of living style at all. Back in the 17th century, ideology collided…
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Future of the blockchain The blockchain is an automatic public ledger system to record transactions and track their accuracy while providing transparent information to all participating parties. The benefits of using blockchain are transparency, immutability, and efficiency. https://twitter.com/barducci/status/1558094827413438465 However, the opponents of the blockchain argued that it is an invaded, manipulated, and costly system.…
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The Ethereum Merge Ethereum sets to Merge on September 15. https://twitter.com/WatcherGuru/status/1558076486065725440 This event is excellent news for many users but bad for the miners. https://twitter.com/binance/status/1558166528415219713 Miners are launching their own chain to oppose the Merge. One of them is ETHW. Since Ethereum shifts from Proof of Work to Proof of Stake, miners' profits are likely dramatically reduced. https://ethereumpow.org/…
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Smart Contract Ponzi Schemes Ponzi Schemes have an upgraded version: Smart Contract Ponzi Schemes. It is more challenging for people to identify and pinpoint their operations running under the smart contract code. It is more difficult when the code is open source and immutable, which promotes transparency. **A typical Ponzi Scheme** Ponzi Scheme is an investment fraud that promotes high returns while only a few in the early investment period gain the full investment returns.…
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Crypto can help to create meaningful jobs Quite Quitting is a trend. Gen Z has already realized that traditional jobs are meaningless. Can crypto help the job market? https://twitter.com/MetroUK_Life/status/1552911421457010688 **What is a traditional job?** The traditional job can label dull, ineffective, bureaucratic, soul-crashing, and many more negative feelings attached. How do workers motivate to enjoy the boring work? Many suggestions are to try to convince yourself to…
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Crypto VC from WeWork to WeBack Web3 supports changing everything! Nope! You are too naive. https://twitter.com/Just_Kate/status/1559201097029677057 Although a16z wrote some fantasy Web3 stories, it does not mean they are all experts. https://twitter.com/ericzhu105/status/1559557525686521856 They seem to be walking toward the 3AC legendary journey to crash their funds in no time. **Who is Neumann?** Neumann rug pulled investors in Web2 from his company WeWork. He lied to…
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Misconception about Ethereum Upgrade aka Merge There is excitement about the Ethereum Merge. Many may hope the Merge solves many existing problems, but those may become misconceptions. Here are lists of misconceptions: ❎ Ethereum gas fees will reduce ❎ Transaction will be faster ❎ Ethereum blockchain will be a temporary halt ❎ Investors can withdraw staked ETH after the Merge ❎ Validators will not be able to withdraw rewards ❎ Running a node needs staking 32 ETH ❎ Staking…
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Misconceptions about the NFTs When you hear about NFTs, you immediately feel they will make you rich overnight. At least NFTs sold in 2021 was crazy. Why do people own NFTs? There are many reasons, but four major ones stand out: ✅ to access exclusive perks ✅ to profit ✅ to preserve the value ✅ to secure digital ownership and rights But, it does not explain what I owned when I purchased the NFTs. You are correct, and that is the beauty of owning an NFT! It is a very blur…
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Learning Blockchain through Python: Part 1 Blockchain is a big word and a confusing word to newbies. A blockchain is an online public bookkeeping ledger. It automatically registers a financial transaction from the sender to the receiver. Before we go into depth about the blockchain, let’s build a simple financial transaction from Python. Here are the thought processes: What information do you need to complete a transaction? You will need: 👉 sender’s name 👉 receiver’s name 👉…
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Opinions about Ethereum’s Future If Bitcoin is digital gold, Ethereum will be digital silver. But, cryptocurrency is all about cybersecurity. Bitcoin uses the SHA256 algorithm for mining Proof of Work, while Ethereum uses the Keccak256 algorithm. Noted that Ethereum is shifting PoW to PoS in the coming months. Because **SHA-2** was available in 2001 and **SHA-3** was available in 2015, Ethereum's blockchain is more secure than Bitcoin fundamentally.…
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Meta...verse?! What would you do if you got all the world's resources to build a virtual world? At least Meta shows you their way to... https://twitter.com/jrhennessy/status/1559660423707705346 So what is so special about Metaverse? Don't we have already tried it before? https://twitter.com/technollama/status/1559793007750266882 The second life: https://twitter.com/SecondLife/status/1560029619398623232 Here are what significant differences between Metaverse and Second Life.…
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Arrested Tornado Cash Dev signals the next arrest maybe you Yes, you should be aware and worry about the government subsequences arresting the Tornado Cash Dev Alexey Pertsev. https://twitter.com/fund_defi/status/1559906169082499073 Here is the announcement of the arrest after the U.S. sanctioned Tornado Cash: `"On Wednesday 10 August, the FIOD arrested a 29-year-old man in Amsterdam. He is suspected of involvement in concealing criminal financial flows and facilitating…
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Bitcoin’s Taro has a scalability doubt Taro is Bitcoin’s smart contract solution for its scalability. However, unlike Ethereum, the smart contract has been native to its blockchain. Bitcoin has to design a new channel to communicate with its blockchain. Taro or Taproot Asset Presentation Overlay gives a high-speed channel to transact through the lightning network. https://www.youtube.com/watch?v=-yiTtO_p3Cw&t=30s The core concept of Taro Merkle Sum, Sparse Merkle Tree, or…
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NFT Repurpose NFT or Non-Fungible Token is a digital property right! Since any digital creation can replicate, NFT puts a unique digital signature to claim your belongings. But then, people start abusing their power to take advantage of others, including rug-pulled others. And owning NFTs may only grant you a specific digital right of ownership. It is essential to verify the privileges of owning NFTs besides the proof of ownership. Perhaps before purchasing any NFTs, you…
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What Defi?! It is more like a Nofi What Defi?! It is more like a Nofi In 2021, the most mentioned phrase was Defi, but no one wants to talk about it in 2022. Multiple explosion of the Defi pushes believers away from the service's credibility. https://twitter.com/Degen_Alfie/status/1560646139673997319 You probably wonder what Defi then? **What Defi?** Defi or Decetranlized Finance is a myth. There are many benefits that Defi claims to have: ✅ **permissionless and inclusive**…
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The future of the economy is looming again Here is the global economic condition. We will face a high inflation environment for a long time until we accept it. https://twitter.com/xuanling11/status/1558603923484618752 The government has changed. They used to have a way and figure out to resolve the problem. But they can no longer do it because the problem they are facing is what they created before. They probably have no ideas how they can resolve it.…
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CBDC is useless CBDC or Central Bank Digital Currency is a copycat of cryptocurrency without privacy protection. It is so useless that once it rolls out, no one will use it because everyone will be cautious about how your privacy has been tracked by the government 24/7. https://twitter.com/NikoJilch/status/1563446734184779779 Any payment company can do whatever CBDC claims it can accomplish unless the government wants to track everyone's financial transactions. **What is…
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Ethereum is winning in the coming short term but privacy will be once to win for all It is a coincidence that Ethereum is merging in the coming month. The market realizes how difficult we will face in years to come. The energy crisis is real, and the global economy will be stalled. The inflation will be high, and the government will have no solution but continue watching what will happen. https://twitter.com/Beammeupjesuss/status/1563969607324647426 We are letting…
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AVAX Conspiracy Crypto Leaks just released its 3rd case on Ava Labs attacking competitors through lawsuits. But the CEO has dismissed the allegations as a conspiracy theory. So what has happened? https://cryptoleaks.info/case-no-3 https://twitter.com/el33th4xor/status/1564006450531377156 **What is AVAX?** AVAX is short for Avalanche, an alternative to Ethereum with a fast, low-cost, and eco-friendly protocol. AVAX focuses on Dapps and Defi ecosystem to provide possible…
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Lessons Learned from the Global Economy Crisis (NFSW) We are heading into the Global Economy Crisis, and it is all because of your own fault! https://twitter.com/Fongern_FX/status/1564564756123553796 Let me explain! We are too reliant on government services! There is no alternative but to stick with the government to offer services to you. You are giving up your rights to have choices because they convinced you to trust them.…
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Compound REKT You know there are many REKT in crypto space: Like $HEX: https://twitter.com/HEXMONGER/status/1564526048368160768 Or even the entire crypto space: https://twitter.com/HEXMONGER/status/1564313102958469121 But we have never thought Compound will be rekt... oh well, maybe the next is ETH 2.0... who knows... https://twitter.com/lanceeeeeeees/status/1564734265140854784 BUT... How come Compound got rekt? **What is a Compound?** The Compound is one of the oldest Defi…