Officials
@ercwl· 2 months agoCharles Hoskinson gives impassioned speech about why bitcoin is going to reach a million dollars as the first deflationary hard money https://t.co/u418t3Jcqi
@ercwl· 3 months agoAs we’re heading to Vegas, I’m going to try to summarise the current Bitcoin drama without getting into too much technicals for those who are curious but lost: ESSENTIALLY what happened was: - @LukeDashjr, Bitcoin’s longest tenured Bitcoin Core developer, is a bit of an autist and lost 217 BTC because he used a Gentoo Linux hot wallet where he didn’t separate activities - Luke was very mad about this and blamed other people. He contacted the FBI and had them subpoena Mike Schmidt to dox the entire Bitcoin developer conference audience list (2022 CoreDev Atlanta) - He later accused other Bitcoin Core developers for the hack based purely on his conception of their morals—because they have not prevented JPEGs on the blockchain, they are unscrupulous, malignant people who surely could have stole his Bitcoin - This made Luke have to get back into the trenches and come up with a new company. The company is @ocean_mining, funded by Jack Dorsey - This is an area familiar to Luke because back in the day over a decade ago (2011), Luke launched a mining pool called Eligius pool, which ironically is probably most known for inserting Bible verses/Catholic prayers into the Bitcoin blockchain, and @ocean_mining is the relaunch of that pool - @ocean_mining has a pretty cool property—it uses a protocol called DATUM to allow individual miners (hashers) in the pool to choose themselves how to construct the blocks they mine (while still smoothing out the rewards via profit sharing), instead of having all the control of the block construction sit in the hands of the mining pool operator - @ocean_mining has less than 1% hashrate and needs some kind of marketing/awareness strategy in order to grow, but it’s hard to get people to change to small pools for ideological reasons, most miners just wanna hash and make money and don’t care about having their own block content policy - @GrassFedBitcoin works for @ocean_mining and wants @ocean_mining to grow and become successful (nothing wrong with that) - For this reason @GrassFedBitcoin has a strong incentive to label different kinds of transactions as ”bad” or ”good”, often talking about how ”Bitcoin is over” if the kinds of transactions he doesn’t are getting mined into the blockchain - While some of @GrassFedBitcoin’s motivations surely come from a good place. (ultimately we all want Bitcoin to optimize for becoming the soundest form of money) he has found that sticking to technical reality isn’t important if you want to stir up drama within the Bitcoin plebs/underclass. For example he will brigade GitHub PRs which relaxes OP_RETURN limits, knowing full well that bigger OP_RETURNs actually leaves less data available in blocks for JPEGs - The point is obviously moot. JPEG spam is white noise to fill out the vacuum of Bitcoin blocks. The way to make JPEG spam disappear from the blockchain is to make the blockspace more attractive for real monetary use (today we only have Lightning whose UX is so poor people mostly use it custodially with negligible onchain footprint—this is is what we’re trying to fix with OP_CAT) - Still, he uses these kinds of debates to go on long rants about how evil Bitcoin Core is while embodying the aesthetic of a humble non-elitist Bitcoin guy who just wants to make Bitcoin better, talks in dumb language to appeal to the plebs. And it is working — not working to actually prevent JPEG spam, but working to funnel node runners into running Bitcoin Knots (a Bitcoin Core-forked client maintained by his boss, @LukeDashjr) - We can always come up with an infinite number of ways to put arbitrary data into the blockchain, so no serious Core developers want to play an endless, futile cat and mouse game trying to block JPEG spam. But again, the latest drama about OP_RETURN isn’t even about letting more spam into the blockchain since OP_RETURNs make blocks smaller and easier to sync
@ercwl· 3 months agoProof: https://t.co/ckXJvu5jjs
@ercwl· 3 months agoTip: If you’re worried about blockchain bloat and UTXO set growth and want to keep the chain feasible to validate for small devices, a Bitcoin block 100% full of OP_RETURNs consumes the entire 4WU (weight units) allowed per block, while only filling up the 1MB base block with actual data. This amounts to a -42% block size decrease relative to current average block sizes. Hurray! This helps with storage requirements and reduces bandwidth to sync a node. OP_RETURNs are also by default *not* added to the UTXO set, so there are less disk I/O (read/writes) which reduces the wear and tear on your SSD or HDD (only 1 UTXO is added per block - the miner reward) or decreases RAM requirements for those who keep the UTXO set in active memory. Nodes also won’t have to compute those pesky SegWit merkle roots for these blocks, which your CPU will be happy to skip!
@ercwl· 3 months agoI do encourage everyone who is serious about Bitcoin development to hear @EliBenSasson out on the current state of STARKs and how powerful they’ve become over the last years, all while using ridiculously non-exotic cryptographic primitives (less exotic than ECDSA!).
@ercwl· 3 months agoThe ETHBTC ratio did not go down because of ”The Merge” The ETHBTC ratio collapsed because: - societal value rotation out of "feminized wef soyboys in unicorn t-shirts" into "bronze age mindset" broadly - ethereum always occupied a vertical more prone to competition - l2s confused the ETH asset value capture narrative and caused network fragmentation - eth does not have a saylor buyer - bitcoin and gold are maturing into wartime assets whereas the peacetime asset ETH struggles - ETH also struggles to even look nerdy/smart/futuristic compared to AI which is the new hot ball of money for that investor type - ethereum also stagnated into a depressingly small number of defi primitives relative to what past expectations were *Not* the Merge.
@ercwl· 4 months agoThis is my new favorite AI test. Post this to your top 3 LLMs and see what they choose. I tried 6 frontier models, and then had them argue each other. All sided with o3 immediately after having hearing o3’s choice + reason, and no one came up with the same answer as it did. https://t.co/aQAehRPTnM
@ercwl· 5 months agoi know i'm not supposed to talk about it i know i'm not supposed to talk about it but it is too funny for me not to say anything at all i need to recap the situation unfolding on pulsechain right now > richard heart creates hex > the only utility of hex is that you can stake it and print more hex > people stake hex for many years > the hex contract is written with inefficient code logic > ETH L1 fees went up > the SLOAD opcode cost changed with the Berlin fork in 2021 > it suddenly costs thousands of $ in gas to unstake HEX > cost to unstake is more than some people's entire HEX value > richard creates his own copy paste version of ethereum with all of the chain state so people can interact with a hex fork on this low-fee fork > raises a billion dollars to launch this chain and it takes 2 years to ship, but eventually it happens > richard tries to steer people to honor the version of HEX on his new chain (pHEX) the "real" one, calls the one on ethereum dead/says "the market has decided" > this copy paste fork doesn't only have the state of the HEX contract but the state of ALL other ethereum contracts at the snapshot of the fork > all contracts are broken of course but some contracts CAN be saved if you scoop up enough governance tokens and replace the contract dependencies/oracles > for some reason the hex community becomes obsessed with the forked version of the makerdao contract > some "midget" guy called maria who dresses in glitter comes along and says he's invented true randomness and worked with nasa and a bunch of bullshit > he buys up a bunch of the worthless DAI tokens on pulsechain called "pDAI" for nothing and pairs it in AMMs with a bunch of other nonsense tokens in the pulsechain ecosystem > hexicans think he's a genius because they don't understand what he's doing or why and because his shirt is glitter like richard's (tbh i don't understand what he's doing either) > a myth starts to spread that this pDAI token is going to get pegged to $1 because hexicans believe maria and richard are going to fix the contract and save pulsechain > the worthless pDAI token pumps a lot > some hardcore pulsechain theorists calculate that the paper value of richard's holdings (he owns 95% of the supply of all of his coins) would be able to fully collateralize maker contract despite there being like 50 billion in pDAI supply (the math doesn't really math but whatever) > half the pulsechain ecosystem buy into this pDAI narrative > pDAI starts trading at $0.02-$0.03 and becomes one of the main religions in pulsechain in richard's absence (he can't really stream or talk because he's sued by the SEC/on the run from interpol) > everything RH tweets becomes twisted/interpreted by the community that he's imminently going to peg pDAI > pulsechain community starts praying for "the peggening" > literally dozens of pulsechain influencer accounts screaming about "the peggening" every single day > would be an instant 50x for the poor holders (their last hope basically as everything else on the chain has gone to shit) > wait > oh no > something is fucked up with the maker contract on pulsechain > some address has the ability to print as much DAI as he wants > mints tens of millions and starts dumping it for other coins > the midget maria glitter guy gets spooked because all his projects are tied to this massive liquidity pool he set up between pDAI and his own project coins (which are then paired to all other core coins in the ecosystem) > maria starts a livestream and starts live dumping $300k worth of pDAI infront of everyone > says pDAI is a counterfeit operation run out of vale, colorado that targets "crypto pioneers" > says they stole his family rifles from his aunt's house in kentucky (???) and he needs protection or something > says he doesn't understand makerDAO and that richard never had anything to do with it > pDAI keeps collapsing due to the exploiter address minting more and more supply and dumping it for other coins and bridging out > richard who had previously bragged about the pDAI price chart tweets that he dislikes how people make up fake narratives about how he's behind certain coins when he's not > pDAI believers in full on crisis mode > the narrative that prevails is that richard _must_ say that he's not behind pDAI because it's dangerous/bad to be the founder of a decentralized stablecoin > prices keep collapsing > all coins are rekt because pDAI just keeps minting and dumps through AMM pair after AMM pair > pulsechain (PLS) hits an all-time low > in two weeks hexican top influencers will have to pay me $132k worth of bets that pulsechain would have done a 10x by this time (it's down -75% from launch and never went anywhere during any of this)
@ercwl· 5 months agoThe SEC dropped their case vs: ✅ Coinbase ✅ Consensys ✅ OpenSea ✅ Robinhood ✅ Gemini ✅ Kraken ✅ Yuga Labs In the Richard Heart/HEX/Pulsechain case, the SEC filed for an extension to amend their case, and the court just approved it The SEC really doesn’t like Richard 🫤 https://t.co/ZjCAdyRCMD
@ercwl· 5 months agoI’m gonna try to share OP_CAT updates more regularly. Here’s what happened recently and where we think things are headed: --- last month i went to consensus in hong kong, taking a hiatus from my usual twitter trolling: meeting face to face with protocol & app devs and miners to gauge sentiment on OP_CAT (in some cases requiring Chinese translators in order to conduct the meetings) on the l2 protocol development side: OP_CAT would mean a massive unlock for l2 protocol developers (STARKs is the most talked about example, but every l2 benefits tremendously from a generalized covenant, including bitvm, ark and even lightning) my impression is that l2 developers are extremely thirsty for this capability, and understand what OP_CAT does quite well. this applies to teams both in the east and west on the app side: mostly met & discussed with lending app developers which seems to be the most prevalent on the application side. the discussions i've had suggests demand for borrowing and lending with BTC on the motherchain, not just for retail defi but in b2b contexts aswell from miners: traditionally, miners are not as tuned in to protocol design as other stakeholder groups. but in the asian mining industry, OP_CAT has been well-recognized for some time now due to initiatives like fractal which already amassed 50%+ merge-mining hashrate that's not to say that these groups fully understand what OP_CAT does yet, however they seem surprisingly interested to learn more about what OP_CAT can mean for the baselayer in terms of chain activity it is clear there's an appetite for more educational material here, esp. events that bridge the gap between asia and the west — stay tuned for updates on this topic i really do think 2025 is the year of the covenant, and our best bet to oil the softfork upgrade machinery before we're stuck knee-deep in institutional ossification but this is going to require deeper cross-industry collaboration than what we're normally used to, as core is no longer in the business of driving consensus changes - with much broader community agency
@ercwl· 5 months agoI think most of the negativity has been purged now and we’re ready to recover We deserved every last bit of this Gear up for round 2
@ercwl· 6 months agokinda mindblown i went here and sent them 2983 usdt on tron i received 23,000 hong kong dollars, (which is 2960 usd). no kyc, no id that’s a… 0.8% tx fee? wut? https://t.co/juP286pnP9
@ercwl· 6 months agoIf you want to understand what happens to funds after they’re stolen by North Korea/Lazarus Group, the Chainalysis 2022 report is great Step 1: Swap any ERC20s (like stETH) into ETH Step 2: Swap any ETH into BTC Step 3: Cash out BTC to cash (Chinese Renminbi) using Asian exchanges This process can take years. They are in no hurry. In 2022, it was noted how North Korea was still sitting on $55 worth of funds from hacks that happened six years earlier (2016).
@ercwl· 6 months agoEvery red square you see in this box contains a chopped up piece of a Circle STARK verifier (ZK verifier) OP_CAT allows each square to depend on eachother—it links them together sequentially This means we can have a OP_ZKP_VERIFY without actually committing to any proof system!
@ercwl· 6 months agoI want to take the opportunity here to clear up some confusion around OP_CAT and the extent to which it enables "ETH-like" protocols on Bitcoin. If you're reading this, and you're wondering "Why Would We Want To Make Bitcoin _Anything At All_ More Like The Garbage Shitshow That is ETH?" and for that reason feel that OP_CAT is unnecessary, l understand that emotion and want to clarify some things. What does OP_CAT do and why do we actually need it? So, everyone who knows anything about Bitcoin knows that the longest dispute/challenge we've had with the protocol is how to make it scale. How do we enable more transactions on Bitcoin, more users, to transact on the chain in a non-custodial fashion? In 2015-2016, we were at a crossroads and basically had to choose between: 1) Increasing the blocksize, making blockchain validation harder to do for the average user at home 2) Attempt to scale using complex "Layer 2" technologies, trying to aggregate as many transactions offchain as possible and settle to the mainnet only when necessary At the time, the downsides of (1) were clear and understood. Many people in Bitcoin felt that it was unwise to go for this option before we had explored (2), myself included. So we explored the Lightning Network, the channel-based, only "real L2" system that was possible to build on Bitcoin at the time (leveraging the OP_CLTV and OP_CSV opcodes that had been recently softforked into the protocol, and later, also SegWit—the latter two softforks activated specifically to enable LN). But Lightning has proven to be lackluster. While it is possible to route around BTC offchain in this manner, in a decentralized way, many, if not most LN-engineers are deeply frustrated with the complexity of the protocol. While marginal improvements have been made, we're still stuck with a channel-based, liquidity-management-based scaling system that drives most people to use custodial solutions, undermining the core premise of Bitcoin (self-sovereingty, privacy, censorship resistance). So, unless we want to surrender and actually make the blocks larger, we have to make Layer 2 protocols easier to use. The main roadblock to make Layer 2 protocols that are channel-free and easy to use is the lack of ability to in code specify how a Bitcoin transaction output (UTXO) can be spent. This technical detail is what's known as "covenants". There are many proposals for how to enable covenants and a lot of politicking involved in how to choose the right one. We've been observing the covenants debate deadlock for years. One of the leading proposals, called OP_CTV, has failed to win sufficient community consensus, and has often been bikeshedded by leaders in the industry with arguments such as "Why don't we just re-enable OP_CAT which exists today on sidechains like Liquid and altcoins like Bitcoin Cash?" If the primary holdup to activate covenants are questions like "Why don't we just activate OP_CAT instead?" then I think it's worthwhile to force the conversation and say, "Yeah, how about it? Why don't we just activate OP_CAT?" In May last year in Austin, at the most high-density Bitcoin developer conference of the year, @btcplusplus, developer consensus that are in some flavor in support of adding the functionality of OP_CAT was gauged and the overwhelming sentiment was that OP_CAT is actually something that we want in Bitcoin. Again, the introduction of OP_CAT is a way to introduce covenants into Bitcoin, with the core purpose being to break Bitcoin free from the lack of functionality that prevents it from being able to host good Layer 2 protocols (that don't require channels, trust, or inbound liquidity). Yes, it is true that these Layer 2 protocols will also be able to run Ethereum-like computation ontop, instead of just being scaling mechanisms, but OP_CAT overall is not an "Ethereumification" of Bitcoin. Bitcoin Core won't be any costlier to run at your home computer with OP_CAT, Bitcoin Script won't be running complex Turing complete computation, Bitcoin won't be managing more data onchain than the current 4MB block limit allows, it won't have rich statefulness, it will still be using the same old rudimentary UTXO-model at the baselayer. The only difference being that that rudimentary UTXO-model can now concatenate elements and verify if a hash belongs in a particular Merkle tree, and carry state from one UTXO to another, enabling every UTXO to operate as a tiny "state machine" in and of itself. This allows more powerful, user-friendly Layer 2 protocols, such that users can actually use them non-custodially and not keep their funds in custodial wallets, as we see with most leading Lightning efforts today, defeating the purpose of using Layer 2 protocols in the first place. So, would OP_CAT allow more "ETH-like" protocols to run ontop Bitcoin? Yes! It allows for channel-free, permissionless, user-friendly L2s to be built. Does OP_CAT make the Bitcoin Layer 1 "ETH-like"? Not by a longshot.
@ercwl· 6 months agoVenice is not built onchain Venice is also not private Prompts are sent to a collection of GPU providers who each individually have the full ability see the full contents of your prompt and any files you upload with it Files can be stored indiscriminately of what Venice wants https://t.co/oQExZYKP7d
@ercwl· 7 months agowhen ross was sentenced to life in federal prison, he had already set in motion the wheels of a revolution so powerful that it would bend the arm of presidents and release him ten years later powerful stuff.
@ercwl· 7 months agoHey look at this cool new ENS I found
@ercwl· 7 months agoKain is right. Haseeb is right. Call it DeAI. Or forever regret the unpronounceable abomination that is ”DeFAI”. Be ruthless. Don’t accept dissenters, block them. Remove them from your life. We only get one shot at this, or years of misery.
@ercwl· 7 months agowatching the nvidia keynote i am once again struck by how humans are like bacteria, that when mixed with money and incentives, we create fast chips. it’s been happening so reliably over the past decades that it’s difficult to think of this as anything else than a chemical process
@ercwl· 7 months ago@plswhisper Whoever wrote this, if you’re reading this, stay tuned. I’m launching a Hexican Victim Relief fund with the significant proceeds I’m making this year from bets. We’ll start taking applications soon (smaller amounts, e.g. $1000) to help victims on their feet. Payouts in April.
@ercwl· 8 months agoAfter a staggering 7 years of failing to provide the promised Coordicide, IOTA has re-pivoted from their latest IOTA 2.0 pivot, and is instead copying Sui, abandoning the fee-less protocol and the Tangle (DAG). The IF also hardfork-added 50% of the supply (most for themselves). https://t.co/1XqqknK6Vo
@ercwl· 8 months ago”nice christmas ATH you have there be a shame if someone were to…” https://t.co/TOOvX1YGc0
@ercwl· 8 months agowe have one last shot at inserting new functionality into bitcoin before all of us, every last soul, will become the remnants of an ”early bitcoin fan club” that no one cares about anymore if we do not take this shot, this is where the story ends. bitcoin as digital gold, impotent as p2p money, in the best case funnelled around the web through hosted centralized service providers with no privacy, too tricky to self custody for normies replacing gold is cute. we need lightning without channels, we need vaults for safe custody, we need second layers for privacy. that is the difference between bitcoin gunning for a $17 trillion target as digital gold and gunning for a $170 trillion target (to start with) as universal hard money this decision is yours. we need to oil the softforking machinery before it becomes completely stale and stuck in its tracks. we have momentum now. we have near-universal developer consensus on covenants as the next softfork. we just have to agree on the last specifics. bitcoin is the most important asset in crypto, and the most important project you’ve dedicated yourself to in your life. the time to act is now. one last ride for the rohirrim. now for ruin, now for wrath, and a red dawn
@ercwl· 9 months agoonce you observe everything from the lens that most people really do believe that this is the last chance to retire their bloodline everything makes a lot more sense people take more risks. the fraud is more brazen please take care out there. discipline will be your salvation
@ercwl· 9 months agoif you lived through these 1100 days you survived one of the most demoralizing bear markets in history, congratulations https://t.co/8DRC8vTteB
@ercwl· 9 months agoBelieve in something https://t.co/cKYey85iMA
@ercwl· 10 months agoi’m happy to announce i’m speaking at the bankless summit on nov 16th in bangkok https://t.co/9fVEilwPf5
@ercwl· 10 months agoyes ETH is down bad but aren’t you atleast a little bit glad that richard heart bought the ETH top on the day at ~$4,000 this year with the entire pulsechain project treasury and got his ecosystem rekt? ethbtc is a worthy sacrifice for the cause https://t.co/7VUxdqr3iC
@ercwl· 10 months agoDavid won. Bullish Ethereum
@ercwl· 10 months agohttps://t.co/QGl3pLLojw
@ercwl· 10 months ago@TrustlessState I was hanging onto the head of the bull which pummeled me in my side at high speed probably 10-15 times before I let go, and then I got up and did it two more times
@ercwl· 11 months agoprobably my weirdest keynote to date. and i think it’ll only get weirder from here https://t.co/nGicC3Lls0
@ercwl· 11 months agoyou may disagree here but you have not witnessed the suffering like i have. seen all the humans, and the unforgiving slap of reality you do not know you cannot imagine it’s the worst thing i’ve ever seen in my life
@ercwl· 12 months agohad missed this builder-side OFAC censorship basically fell off a cliff on Ethereum in the last month https://t.co/lvPZpx7nNX
@ercwl· 12 months agoreading online discourse about openai it is humbling to know that even if i broke the boundaries of what people thought was possible with machine intelligence and broke all records on speed to 100m users people would still be nonstop posting about how i’m a fuckup that can’t ship
@ercwl· 12 months agoYes you’re down bad but have you ever been down this bad? https://t.co/NkyPIVZOwZ
@ercwl· 12 months ago1. Human experiences Make that trip, kiss that girl. The things that bring you meaning may not bring you meaning tomorrow. 2. Don’t overindex on longevity All time frames are accelerated. Plan for the next 5-10 years, not the next 30. 3. Don’t die accidentally The sun won’t kill you, but driving a motorcycle without a helmet might. Don’t fumble on being present for the climax of civilization. 4. Maximize your free time In no other time period has it mattered more to keep your wits about you. Declutter your life, declutter your mind. Strive for awareness, knowledge and presence. Find time for deep contemplation. 5. Maximize your flexibility You need real estate, locations, transportation and resources. Strategize so that you can change location easily, and get as far away from being salary-dependent as possible. 6. Reach philosophical clarity You should come to terms with whether human survival matters to you, or even your own survival. Is AGI a good thing? Do you wish to merge with it? Do you fundamentally believe that you can merge with it, or does that thing that merges with it cease to be you? Is there a you? 7. Readjust your focus Deprioritize questions like climate change concerns, and repriotize questions regarding current geopolitics and technology trends. What does the AGI supply chain look like? How dependent is TSMC on ASML? Will China infiltrate ******? How well does deep learning scale? Is the data barrier real? Focus on things that matter. 8. Buy a bunker There are plenty of military bunkers beneath the ground that were built in the 50s-80s. They generally sell for a fraction of their production cost today (we’re talking single digit percentages). If AGI brings about an AGI arms race across countries or if the cost of domestic terrorism is brought down substantially due to AI-powered attack drones, the cost of secure space below ground may reach its production cost.
@ercwl· about 1 year agoRemember Mutiny Wallet Never let us forget https://t.co/9IoVV2f0DU
@ercwl· about 1 year agobitstamp just credited my account with my mtgox coins 10 years. it’s done
@ercwl· about 1 year agoGermany may be out of coins to sell but I just received this from MtGox https://t.co/cmkapPOkfB
@ercwl· about 1 year agocrypto space in a nutshell https://t.co/E9sEj2O05I
@ercwl· about 1 year agoi'm still mulling over the fact that the @OpenAI board fired @sama because he couldn't be trusted and the entire superalignment team quit over safety concerns for months i've been wondering what actually happened and there's quite a lot of content out there for anyone who's interested. my goal has been to understand if this happened because there was too much money involved in the ai industry, and if it made sense for engineers/employees to switch jobs since ex-OpenAI engineers are hard currency for any other AI startup so i've been doing my own research into the individuals involved and unfortunately it doesn't seem to me as if there are any mitigating circumstances here. You have (all former): - Jan Leike (senior engineer @ superalignment) - William Saunders (researcher @ superalignment) - Ilya Sutskever (chief scientist, cofounder) - Daniel Kokotajlo (researcher @ governance) - Leopold Aschenbrenner (researcher @ superalignment) - Helen Toner (board) they all paint pretty much the same picture. the incentives push @OpenAI to participate as any capitalistic enterprise in an arm's race and to neglect safety. to the extent that i'm able to intuit what a person is about and what their motives are (i've read mostthere is to read from these people and listened to nearly all the podcast episodes they've done on the subject) and i can't come to any other conclusion than that they're being sincere about what they experienced. it's most clear to me from leike (and also aschenbrenner) i've watched long clips from leike from before the superalignment team disbanded and he struck me as genuinely excited about the work he was going to do - only to discover that the resources his team was promised (20% for alignment research) wasn't going to happen what i've heard from saunders and kokotaljo also confirms the picture. sutskever is always been a bit political (understandable), and toner i don't know that well, but the picture comes together in a way that's hard to refute. i did not find any breadcrumbs of insincerity or something that could allow me to spin an alternative theory for why they're saying what they're saying. i'm a big fan of @OpenAI's products and it just sucks to have it so confirmed that it's an untrustworthy organization (yes, i should have known, worldcoin eye scanner orb bad etc etc) i'll post my sources below for anyone who's interested to make their own assessment:
@ercwl· about 1 year agobullpost: 1. the period between agi and asi matters. even if the agipocalpyse is real and approaching, there will probably be a year or two between agi and asi. this period, even though brief, will be extremely interesting and important financially. how you play your cards in this period (and how you prepare for it) may matter more than anything else you've ever done for the continued existence of your consciousness. bitcoin may be relevant in this period (see points below). 2. changing of the world order. as ai-powered robo-mosquitoes are assassinating political leaders and business leaders en masse, nation states will crumble and fall (as it becomes increasingly complex for a nation state to provide basic safety). similar to how the invention of the stirrup turned knights into one-man armies and redrew the physical battlefield of the 10th century in favor of feudalism (read: the sovereign individual, 1997), ai and 3d printing might as well turn nerds into one-man armies and bring equally disruptive redesigns of the social order. even if that's too farfetched, it's not strange to assume that agi when channeled by nation states rather than by individuals (or rogue organizations) should exacerbate conflicts, political psyops and cyber warfare. even in the non-adversarial case, the economic disruptions alone will cause nation states who aren't keeping up to crumble/quickly fade into irrelevance. 3. the fiat printers will go wild at a scale never seen before. if a nation state's existence is threatened (and in short time scales) and it needs to make competitive moves in the agi-sphere to survive versus other growing economic powers (and it also needs to transform itself fundamentally to provide domestic security for its citizens), fiat currency will get turbo-printed (think of germany during ww2). as geopolitical alliances are redrawn and every country is motivated to act in extreme shortsighted self-interest, international trust in fiat currency will evaporate completely. this is likely to happen during the agi => asi transitional period, but during that period, there will still be a need for international trade and monetary exchange for extreme low-trust periods. 4. the need to transact remains. as international trust evaporates and fiat currency becomes worthless, using commodity-based assets as a backup internationally won't be an option either (gold, barrels of oil, energy contracts etc.). anything that relies on shipping, trusting a certain economic power/nation—it all becomes too uncertain. but the need to transact will still remain, into the last second of the last minute on the doomsday clock. 5. stablecoins will continue to thrive before this. ignoring everything above, the stablecoin industry is still likely to keep growing. stablecoins are a genuinely superior product to current financial rails. as stablecoin adoption continues to surge across the world, the need for financial applications (L1, L2s, dapps) will grow organically alongside stablecoins. while its true that stablecoins will need to be abandoned if the US dollar or its supporting institutions collapse, they'll be extremely useful until then, and help prime the world for a transition into some other digital asset. -- in closing, crypto may not feel like the most interesting sector on the planet during the agipocalypse (and it probably won't be), but it might still play an extremely important role. bonus thesis: it might not be bitcoin that is best suited to survive in this kind of scenario. mining facilities may prove to be too easy targets, and it also might be very hard for bitcoin to compete for energy sources to safekeep itself if an arbitrary ai farm uses an order of magnitude more energy than the entire bitcoin network (not super unlikely during an agipocalypse?).
@ercwl· about 1 year agowhat polkadot is lacking that money can’t buy is a story/passion so the co-founder of ethereum creates yet another cryptocurrency, instead of trying to solve the problems with his previous cryptocurrency what kind of fucked up/useless story is that?
@ercwl· about 1 year agoI didn’t read crypto twitter for maybe 5 days for the first time since 2017 and now it’s clear to me that this is an insane place
@ercwl· about 1 year agoHey Twitter what shall I do with this birb? https://t.co/xhxO5o74A6
@ercwl· about 1 year agoi’m pivoting to ai https://t.co/aeTsMYhzNn
@ercwl· about 1 year agoBalrogs and OP_CATs: The Bridge to Khaza-doom? An exploration into whether Bitcoin will actually be entirely destroyed if we reintroduce the OP_CAT opcode (due to MEV), to the detriment of all of human kind. https://t.co/6ksrIVUt3K
@ercwl· about 1 year ago5 June 2024 (Notes) Every day she's clapping her asscheeks, Anatoly is snickering in my ear but I'm sidelined It started with Caitlyn Jenner getting hacked but she didn't get hacked. How the f*** does someone with 3.3M followers randomly post a scam-link to a pump dot fun page but it's not a scam? How the f*** does someone, when confronted with these rumors, upload a video of themselves with a facefilter that's so edited that their eyebrows are flying all over the screen, appearing but reappering, but its not actually a fake Caitlyn Jenner facefilter but the real Caitlyn Jenner? How the f*** does someone work with an Indian scammer who is launching several of these pump dot fun coins (you can see how the coins are all coming from the same address) who's dumping it for a measly $16,000 profit right away but it's not actually a scam, Caitlyn Jenner is just a fucking retard who appears to be doing business this way? I am cast into the spotlight of the scene in massive confusion. I am chasing down zoomers on Twitter. "Can you not see that it's a scam???" I'm yelling to them but they won't listen. "The eyebrows are floating all over the screen, you're acting like easily-duped boomers!". "It's just an instagram filter bruh they act upthat way" They reply. I don't use Instagram facefilters a lot. It's me. I'm the boomer. To make matters worse I even bought the $JENNER scam coin with the $78 I had in my Phantom wallet. But it turns out I had clicked a scam link and bought $BAXTER, "Caitlyn Jenner's Dog" coin, which went to 0 even faster than $JENNER. In my confused anger, I start googling the name of the Indian scammer behind this and I find a Decrypt article. The Decrypt article contains a link to the Indian scammer's Telegram page where he's announcing the coins he's launching. He says the next coin he's about to launch will make $JENNER look small. He says it's Iggy Azalea (I also don't know who that is because again, I'm a boomer). Iggy has tweeted, she says she spoke to Sahil (the Indian scammer) "enough to know he a bitch" OK IGGY, let's see. In his Telegram group, Sahil seems very confident that Iggy *is* going to launch a coin though. Exciting I thought, let's see what's actually going to happen. Sahil says "40 more minutes". I check Iggy Azalea's instagram, and she's uploaded a video where two Asian men are sitting locked in with a computer in front of them. One of them looks EXACTLY like Sahil. "10 more minutes" Sahil says, and then Iggy drops the pump dot fun link on her Twitter. I don't buy it. It's clearly from the Indian scammer again. I can fucking see him sitting at the table behind her. Except it's not Sahil. It's her brother. She tells me this in a reply to Twitter, and explains that the only reason she dropped her own coin was to frontrun the Sahil-scammer so he wouldn't make money off of her name. She was frontrunning his scam by jumping into the game herself. It was unbelievable, but true. Then she joins a Twitter space with Ansem, Udi and a bunch of other people. She starts talking. She is confident, she's secure. She says all the right things. "I pay all my designers in crypto, they won't take anything else". The coin is pumping. $20 million marketcap. I have my Phantom Solana wallet loaded up with $15,000 USDC. The pump dot fun link tells me $MOTHER is already trading on Raydium. It's 2 am for me, I'm on sleeping pills, trying to go to sleep, but Iggy is making too much sense. Two years ago, I had predicted this. Simp queens and memecoins go hand in hand. One day we shall see the arrival of a Simp queen who truly understands Web3, who can rally the simps of the Internet and usher into a new Era. Ultimately, they will form SimpDAOs. I text Udi "This is it. This is her." Udi knows what I mean. Two years I could not talk about anything else. I hit market buy on Raydium. Nothing happens. It's 2 am in the morning, I'm on sleeping pills trying to go to sleep and I just want my order to hit the books before I can collapse. It's not working. The order doesn't get filled. Raydium isn't working. "Increase your slippage tolerance" they say. I set it to 1%. 2%. 5%. 10%. Buy, buy, buy. I want $MOTHER. I know it. I feel it. I must frontrun the simps. When Iggy speaks, I hear that it's her. The $MOTHER ticker is genius. When you read it, it says SMOTHER. It's a reference to her twerking ass. It's brilliant. I am baffled, I am amazed. For 3 hours I spam the buy button on Raydium, nothing happens, it is failing. "You need to use Phuckton", Udi says. I don't know what it is. "You can't buy things on Solana you must use a Telegram bot". What? I don't understand, it's 4 am, I am drowsy. I keep spamming the button, nothing happens. It's the next day. Or the day after that, I am not sure, everything is dizzy. I'm walking around outside, listening to podcasts in my airpods. Anatoly is debating Justin Drake. And he's laughing. For two whole hours, he is laughing, snickering, at Justin. It's so disrespectful. I check Dexscreener, $MOTHER is making new all-time highs, Iggy is twerking again. Anatoly is laughing. Her asscheeks are clapping and he's laughing. Vitalik is tweeting. He says he's not impressed by the lack of utility of celebrity coin like Iggy's but he doesn't get it. Vitalik gets Stage 0 centralized rollups, but he doesn't get Stage 0 SimpDAOs like $MOTHER. It's OK, Vitalik is not meant to get it. *I* get it. But I'm sidelined. I'm sidelined but Anatoly is laughing. $MOTHER hits $100m but I'm sidelined and he's laughing. She's clapping her asscheeks and he's laughing.
@ercwl· about 1 year agoFull episode: https://t.co/Q6ZlZSMezp
@ercwl· about 1 year agoA much missed voice @aantonop weighs in on the covenants discussion (28 May 2024) Thanks @liminalcustody https://t.co/hkcS7UOvap
@ercwl· about 1 year agoBREAKING: Saylor’s heart https://t.co/WZHyK7tYrn
@ercwl· about 1 year agoman if ethereum gets an etf after being so punished from every angle narrative-wise for months and months every sliver of hope, crushed what the fuck is the matter with the crypto show writers?? why do they have to make everything so dramatic all the time!?!?
@ercwl· about 1 year ago@JoelKatz that thing about banks using XRP as a bridge currency is a scam right
@ercwl· about 1 year ago@cobie @Fiskantes Bruh I would not even know this app existed if it weren’t for people tweeting pics of my card. You just weren’t special enough this one time in your life JORDAN
@ercwl· over 1 year agopissing off eth maxis and bitcoin maxis alike https://t.co/j6exdapXIB
@ercwl· over 1 year agoso it’s actually going to happen? lmao https://t.co/T9ZHsvJsnd
@ercwl· over 1 year agoHere's a summary of this week's BitVM drama by two sane people https://t.co/cbILqbCHEw
@ercwl· over 1 year agoUPDATE: TONCOIN HAS FLIPPED CARDANO ONLY ONE MORE AND CARDANO IS OUT OF THE TOP 10 https://t.co/9TvI6TIaHS
@ercwl· over 1 year agomy only wish is that @cobie would do this again sometime https://t.co/LiXSQhXChH
@ercwl· over 1 year agoupdate: i just got banned from the BitVM builders chat for asking more questions 🤷♂️
@ercwl· over 1 year agoapparently i got fucking scammed by @BitPaine, ETHBTC didn't go below the yearly low on binance or coinbase at all!shaved my head for no reason https://t.co/7faTOxKTkt
@ercwl· over 1 year agoTAO maxis making me their life enemy, be wary of what you’re signing up for. Turning me into your #1 nemesis is like invading Russia. I don’t care if there is one million of you. You will all die of starvation and permafrost in these lands, I will outlast every one of you.
@ercwl· over 1 year agoThe uselessness of $TAO is truly spectacular $10 billion marketcap for an "AI coin" Go check it out—what does it actually do? It runs a bunch of different subnets. Okay? What are these subnets? Check out subnet #1. Okay, so text prompting. Cool. That's easy enough to understand. But what's actually going on there? Check the docs. https://t.co/HdhmzPqbY8 Okay, so miners on this subnet run 2 different LLMs. Zephyr and wiki-agent. Mostly they all just run Zephyr, the base model (now switching to one called Solar). The idea is super simple. You send in a prompt. The miners will run the LLM and respond to you, like ChatGPT. Miners who do this are rewarded with TAO tokens. This is how TAO tokens are brought into existence. But it does mean that for every prompt, you have literally a thousand miners who will complete the exact same task, redundantly. The network will then validate these answers by checking how similiar they are to eachother. If you're an outlier you don't get TAO tokens. So what's going on here is that a prompt will be generated, such as "What is water?" And the miners will respond with "Water is a chemical compound with the molecular formula H2O", and they're all incentivized run the same LLM because outlier responses are punished. This is repeated in parallel a thousand of times by a thousand different miners. There's no AI magic to validate whether a model was actually run. There's nothing that stops miners from copying replies from eachother and tweaking them, spoofing their work. The validation mechanism is super basic: In the present version, the validator produces one or more reference answers which all miner responses are compared to. Those which are most similar to the reference answer will attain the highest rewards and ultimately gain the most incentive. —https://t.co/HdhmzPqbY8 Setting aside how easy this is to spoof for a second, just think about the incomprehensible inefficiency of this system. For each prompt, you have 1000 miners doing the same work? So that you'll reach a level of "decentralized intelligence"? Look my dudes. Just put a single miner in Tanzania. Prompt it. If it gets shut down or outputs bad data, fall-over to a different one somewhere else. You don't need 1000 different redudant LLMs to run these basic bitch language models in parallel if you can't even protect against them copying and tweaking answers to fake their homework. And what even is the purpose of running these "decentralized" models? Zephyr, Solar and wiki-agent have the same kind of content filters that ChatGPT has. Zephyr is even trained on ChatGPT dialogue output. So you have 1000 miners serving you the same bottom-of-the-barrel answers 1000 less efficiently than its centralized counterparts, *still* with no ability to verify whether 1000 separate answers were even generated since the only thing you're doing is checking for similarity. Now, the crown jewel of this ridiculous piece of garbage is the fact that you can't even prompt this network as a regular user. Go on, try it. Go try to actually interface with this network as a user and get a Zephyr-generated response from 1000 miners. You can't. The only thing that is happening in this subnet is internal, validators generate challenge prompts and 1000 miners generate the same basic bitch LLM response and collect TAO tokens. These TAO tokens are then sold into a $10 billion FDV market cap of retail idiot buyers who are trying to get exposure to "decentralized AI" by buying this piece of shit AI memecoin. Bittensor is pretty much what a highschooler would think of if he was tasked with creating an AI coin. "Uhh I just have maybe 1000 miners generating answers to prompts, so it's like, uh, decentralized?" "Okay, and how do you check that? How do you do the verification?" "Uh, maybe the network can check, like, if the answers are similar or some shit?" This is a pointless exercise in decentralization that only serves the purpose of vaguely resembling doing something with "decentralized AI", which of course is a cool meme right now, but it doesn't actually provide you with any assurances, any utility, except a 1000x less efficient ChatGPT-bot that can only answer questions to itself so it has an excuse to print tokens to dump on the crypto retail market. Send it to fucking 0.
@ercwl· over 1 year agoHahahahahahhaahhahahahahahahahhahahahahahaha Blobscriptions. https://t.co/vFv2EYuJlz
@ercwl· over 1 year agoThis may be a good time to remind you that there’s no difference between Base and Blast https://t.co/Qzx0ZR80Nc
@ercwl· over 1 year agoyou’re seriously considering lying about the decentralization of blast so you can let a north korean hacker get away with $60m for the purposes of funding DPRK’s missile programs? in the spirit of… lying?
@ercwl· over 1 year ago”blast executing a bridge upgrade would destroy the facade of decentralization”what the fuck are you guys talking about what ”facade of decentralization”?there is no fucking mystery here. it is 100% centralized rollback the chain you absolute morons https://t.co/Cv9YCYKKZs
@ercwl· over 1 year agoUPDATE: I MEANT DOGECOIN HAS FLIPPED CARDANO https://t.co/oYpeazNrDo
@ercwl· over 1 year agothis whole episode was actually hilarious peak entertainment value 10/10. gz @laurashin
@ercwl· over 1 year agoJohn Carvalho emerges 2 years later after having actually tried Lightning. https://t.co/xiWPFTCHOP
@ercwl· over 1 year agook so the only way to fight solana before we get cross-rollup liquidity aggregation (which is several years away) is if we all unite on the same rollup in the interimWHICH ONE DO WE CHOOSE?SINGLE-ROLLUP LEGION UNITE
@ercwl· over 1 year agoalso, why tf did ethereum make an upgrade targeting L2s (with gamechanging efficiency gains) that L2s can only opt-in to if your L2 is upgradable? did we COMPLETELY forget that the point was that we’d move away from upgradeability eventually so that our L2s are actually L2s?
@ercwl· over 1 year agothe hardfork- is called dencun - also known as eip-4844- also known as proto-danksharding- turns ethereum into a blobchain- means that ethereum rollups are no longer rollups (the definition of a rollup is smth that uses *L1* for DA, not ephemeral data blobs) - actually does something about execution fees (the merge did not really, wasn’t designed to)- probably won’t solve L1 fees (L2 raw data having their own blobspace will offload L1 somewhat but not a gamechanger)- L2 fees should be dirt cheap though- ethereum will still be a hot mess until shared sequencing or something solves cross-rollup liquidity aggregation (hard, will prob take 3 years to perfect if it even gets ”perfected” at all) - this is still better than sharding - it’s still ”better” than solana in the same way that bitcoin with lightning is still better than bitcoin sv - but it’s not an either or and the world has room for both modular-like and monolithic approaches (even if single rollup with a proper DA-layer should be superior to any monolithic system but whatever no one cares)
@ercwl· over 1 year agoethereum undergoes the most significant hardfork since the merge on wednesday and almost nobody is talking about it? the fuck
@ercwl· over 1 year agothe bitcoin layer 2 space is heating up like crazy with the first bitcoin L2 hitting $3 billion in TVL today the demand for channel-free L2s on BTC is insanebut these bitcoin L2s aren’t actually L2s to build such a thing you need a small upgrade to bitcoinyou need OP_CAT https://t.co/rEGC2dMU5Q
@ercwl· over 1 year agoso the market really did wipe out sbf, kwon, 3ac and then it went shooting for all time highs? like, not as a joke, but for real? so luna really did go to 0, sbf really is in a prison cell, kwon is getting extradited, zhu had to drop every last one of his shitcoin logos from his display name and kyle is in a shed somewhere chopping wood? the cryptocurrency saga moves like poetry. how is this real? when you experience something like this you need to take it in with every fiber in your body. every hair should be standing on your skin
@ercwl· over 1 year agoThose of you in the old school who believe this is a bubble simply have not understood the new mathematics of the Blockchain, or you did not cared enough to try. Bubbles are mathematically impossible in this new paradigm. https://t.co/kAtGE8oigd
@ercwl· over 1 year agoKudos to @tarunchitra, @rleshner, @hosseeb and @tomhschmidt for speaking frankly and disagreeing on things close to eachother’s pockets and financial interests @Unchained_pod (last 25 min). https://t.co/pmL4N4uFbD
@ercwl· over 1 year ago@mononautical what?
@ercwl· over 1 year agoPOELSTRA GOES 2 FOR 2 ON OP_CATHere Poelstra explains why OP_CAT is the most POLITICALLY OPTIMIZED next softfork since it i) works as a precursor/addition to all other covenant proposals, and ii) doesn’t step on the toes of any other covenant proposal. https://t.co/u1G4FT3DwJ
@ercwl· over 1 year ago@JoeBiden another really sharp individual joins the laser eye army
@ercwl· over 1 year ago> ”citrea comes with a native ZK proof verifier smart contract on bitcoin L1 built in bitVM”> ”trust-minimized two-way peg with bitVM is under heavy development”the @chainway_xyz team behind this is a legit, knowledgeable team. really looking forward to what they can produce!
@ercwl· over 1 year agoBREAKING: Director of Research @ Blockstream and Co-inventor of Taproot says path for OP_CAT is finally clear - ETHAN AND ARMIN FINALLY DID IT - UNBELIEVABLY SIMPLE”You look at CAT and there’s nothing to bikeshed on - almost no technical risk - everyone likes CAT” https://t.co/YH4dPuXPQL
@ercwl· over 1 year agolongest thing i wrote in a while https://t.co/9VTZ6S2HrL
@ercwl· over 1 year ago8. Cardano falls out of the top 10.
@ercwl· over 1 year agoThis is the original Bitcoin Rainbow chart that I posted for the first time prior to the bull run of 2020 — and gentlemen — we've officially entered the "BUY" zone! https://t.co/tXF54WCDqm
@ercwl· over 1 year agoRight. There are several new projects that are building zkrollups with @RiscZero-proving (@EclipseFND, @chainway_xyz), allowing them to leapfrog the progress of early zero-knowledge projects.RISC-V zkVM + the ability to prove Rust directly(No bags)https://t.co/IiRoVm8xaN https://t.co/QzQ5etzhfl
@ercwl· over 1 year agoRight and right. https://t.co/RoRGDR8YGA https://t.co/gLPuNJO8mb
@ercwl· over 1 year agoOrdinal inscriptions are just Bitcoin transactions, like any other Bitcoin transaction.If you have a problem with it, that’s on you. https://t.co/ehPusttZbn
@ercwl· over 1 year agoThis guy:1. got sued by Craig Wright 2. called me and asked me to be his expert technical witness and defend him in court against Craig in his UK trial3. i say ”sure, i’ll do drop everything and do that, defending against craig is important for bitcoin”4. wins his case in Norway, doesn’t need my help anymore5. time passes6. accuses me of being a BSV sympathizer and slanders me online because some person on a conference i went to had something to do with BSV
@ercwl· over 1 year agoThe prisoners are running the asylum now. We have declared this land ”Ordinal Chain”You have two options:- Help us build L2s that are actually useful that can outcompete the ”spammers” in their bid for blockspace- Fork
@ercwl· over 1 year agoAddendum: Because I don’t want to FUD Lightning I feel like I need to explain what happened here. Because I published the first invoice publicly, someone made a 1 sat payment to it and invalidated the invoice. I wasn’t aware of this issue and neither was Brad. Our fault! https://t.co/dc5eKZkYl9
@ercwl· over 1 year agoToday is a special day because today I add a cube from @bradmillscan to my tungsten cube collection! Brad: There's a QR code in the bottom right corner. It's an LN invoice to my non-custodial Lightning wallet (Phoenix) for you to pay your cube, as agreed. HAPPY NEW YEAR! https://t.co/Oz8HeON24Z
@ercwl· over 1 year agoA good example of what exemplifies this is something I heard @GrassFedBitcoin say on a Twitter space the other day. He believes that bitcoiners should introduce new filters into Bitcoin because *Taproot Wizards* will run out of VC money and won't have the funds to develop and market another spammy protocol. So if only Taproot Wizards run out of money, the problem of ordinals goes away. This is absurd for so many reasons and demonstrates such a complete lack of understanding of what drives demand for ordinals and how the market works. First of all, Taproot Wizards would only get richer if ordinal inscriptions were somehow blocked, because then no one could make new inscriptions, and our Wizard collection becomes more unique and more rare than it's ever been. He'd only boost our financial position by doing this. Secondly, it's completely absurd to think that Taproot Wizards are single-handedly driving this. We didn't invent the Ordinals protocol. We didn't invent the BRC-20 standard, or any of the other dozens of protocols out there like Atomicals, Stamps, CBRC-20s, SRC20, etc. etc. etc. regularly taking up space in blocks. We barely even talk about a fraction of these. So think now just how dangerous it is for a person like @GrassFedBitcoin of @ocean_mining to advocate for *changing the relay filter policies* of Bitcoin, trying to fix a problem he does not understand, hasn't bothered to understand, and is nowhere close of understanding. If you want to fix a problem, you *must* understand it. Otherwise you'll end up doing more harm than good. ————— P.S. The only person who has made any contribution at all so far that would work to cripple the BRC-20 spam is @rot13maxi of Taproot Wizards with his Sophon invention. That's because he actually understands ordinals.
@ercwl· over 1 year agoIncase you missed it: ”Ordinal-style PSBT trades” are Bitcoin transactions. It’s atomically swapping the asset BTC for another digital good. Denominated in BTC. Decentralized, trustless. How you can be against this is bewildering.
@ercwl· over 1 year agolmao https://t.co/cXhxlW3vPQ
@ercwl· over 1 year agoWhy did BRC-20 take over not only Bitcoin, but also *Ethereum, Solana, Near, Polygon, Celo and Fantom*?Because burning gas/wasting blockspace is one if the last distribution mechanisms that exists with _open access to retail_. Read on 🧵👇 https://t.co/L43XaPvNiC
KOLs
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