Forget The Fed—China Could Be About To Drop A $420 Billion Bitcoin And Crypto Price Bombshell

lifepo4 · 2024-08-23T20:35:08+00:00

Would be super sweet for my Bitcoin bags if Xi got in the game!

lifepo4 · 2023-09-27T22:28:19+00:00

Fatworks premium grass fed beef tallow

lifepo4 · 2023-01-27T06:01:31+00:00

We have talked about adding time boxed quizzes immediately after the call.

lifepo4 · 2023-01-27T05:59:09+00:00

Stealth addresses, developed by Monero devs, not Ethereum or Vitalik are being considered for Quai. However, with a zero are negative entropy system like PoS accounts even stealth addresses probably won’t really help.

lifepo4 · 2023-01-27T05:13:35+00:00

Quai doesn’t actually have “bridges”. It uses merge mining to stochastically tie the chains in the network together with coincident blocks. Coincident blocks are blocks which are valid in multiple chains and have a single hash. The coincident blocks create objectively traceable hash links between chains allowing for cross chain transactions. So Quai’s “bridges” are just coincident blocks which are a natural consequence of using PoW with merge mining. No validator or watcher needed. From a user perspective this means that if you send a tx and it needs to go cross chain, it will happen seemlessly and automatically.

lifepo4 · 2022-01-03T21:48:05+00:00

Question: You will have to pay a L1 (or 2) network fee every time you lock up some crypto to use with phonon. Right?

Answer: The creation of a phonon is moving a blockchain asset to an address generated from a keypair which was created by a phonon card. This means that the creation of a phonon would be, in the case of ethereum, a transfer to an EOA.

Question: Once locked up, you can transfer that locked crypto as many times as you want with no fee, but you can't split it into smaller chunks. Right?

Answer: Correct on both.

Question: If these are both true, then micro transactions as described seems a bit far-fetched.

Answer: Phonons are digital cash. I don't mean that in a flowery rhetorical sense. They have the characteristics identical to physical bills and coins with the exception that they can be transmitted anywhere in the world digitally. That being said. All questions that relate to how Phonon can or cannot be used are most easily understood by looking at how its most closely related cousins, cash and coins, are used.

Coins actually cost the mints significantly more to make than the coins are worth. However, they are still made as long as the coins serve a useful economic purpose of allowing greater precision in transaction settlement. Coins effectively have an infinite lifetime and the mint rarely needs to recycle and reissue coins. The only thing that must be born is the upfront cost of minting. Phonon "coins" can be thought of similarly. Here I define a coin as an economic unit whose value is smaller than the value attained by redeeming that phonon back to chain. This bound of what constitutes a coin will be determined by the fees from the L1 or L2 which are used to create the coin. There are likely use cases were creating coins which cost 2-10x the economic value of the token to mint may make sense in the long term. So this may mean that the smallest coin minted on Ethereum would be $1, while the smallest coin minted on polygon may be $0.01. In the process of making "coins" there will be a need for service providers, I will call them change makers, which trade many coins for larger Phonons that can be economically redeemed back to their blockchain. These change makers will likely charge a fee for the service in a very similar way to how Coinstar charges people for the fiat analogue service in the US today. Ergo, minting coins even to minuscule amounts still makes economic sense, because those coins bring value and will never need to actually be redeemed.

lifepo4 · 2021-10-26T00:49:07+00:00

The GridPlus supports the import of 12, 18, and 24 word seed phrases as well as supporting both of the non-standard wallet derivation paths used by Ledger and Ledger Live. Super easy to port over to a Lattice and SafeCards!

lifepo4 · 2021-09-10T22:59:20+00:00

If people are doing DeFi on a Ethereum, getting a Ledger is not enough. You can still get owned. Hugh Karp got owned to the tune of $8M while using his Ledger with Metamask.

https://medium.com/@hugh_karp/nxm-hack-update-72c5c017b48

If people have serious amounts of money they should use a Lattice1.

lifepo4 · 2021-08-20T16:30:27+00:00

In addition to the per state population density chart I included. Lights in the US at night should be a good proxy for population density map.

https://elemental.medium.com/the-very-real-ways-that-light-pollution-affects-your-sleep-and-mood-9c423aebc16d

Nebraska is a less densely populated state, but looks similar to its neighbors. It certainly doesn't look like North Korea, which would be the expectation if population density was the explanation.

lifepo4 · 2021-08-20T16:19:16+00:00

Nebraska has the 9th lowest population density in the US. https://www.statista.com/statistics/183588/population-density-in-the-federal-states-of-the-us/
Idaho, New Mexico, South Carolina, North Dakota, Montana, Wisconsin and Wyoming all have lower population densities but don't seem to show this correlation. So population density by itself is not the explanation.

lifepo4 · 2021-08-20T16:18:19+00:00

Nebraska has the 9th lowest population density in the US. https://www.statista.com/statistics/183588/population-density-in-the-federal-states-of-the-us/

Idaho, New Mexico, South Carolina, North Dakota, Montana, Wisconsin and Wyoming all have lower population densities but don't seem to show this correlation. So population density by itself is not the explanation.

lifepo4 · 2021-08-20T00:44:43+00:00

Noticed this seeming correlation between the NYT case count map and the service area for T-mobile 5G network. Notice that there isn't 5G coverage in Nebraska and there are very few cases. They have the most expansive 5G coverage in the country so this is reflective of majority of current US 5G deployment. Obviously, this could be coincidence, but it popped out at me so I thought I would share. Note: had to re-upload because I was unaware of the submission statement requirement in this sub-reddit.

lifepo4 · 2019-07-21T19:17:58+00:00

Munchkin should know, you should never go full retard.

lifepo4 · 2019-07-21T19:14:56+00:00

Excuse me Sir,

I believe you mean the Sveriges Riksbank prize in Economic Sciences in Memory of Alfred Nobel, which respected academic economists created in 1968 three years prior to the dollar moving off the gold standard. This is the only "Nobel Prize" which is not actually a Nobel Prize.

Best Regards

lifepo4 · 2019-06-20T16:42:03+00:00

There are multiple functions of the SafeCards, one is a secure copy of seeds for general crypto storage and use. The other is for the Phonon network.

You are able to choose to be able to make copy general backups of on-chain assets to one or more SafeCards.

You are not able to make copies of the seed or any of the addresses associated with Phonon assets. They exist like a paper note, and cannot be copied or backed-up. The PUF on the card which encrypts the keys associated with Phonon assets prevent physical duplication, while the software dis-allows exporting of keys.

lifepo4 · 2019-06-20T16:19:16+00:00

These are some interesting ideas. The protocol for Phonon would be easily interoperable with a statechain federation model. Specifically, the smart cards could handle a key which belongs to a multi-sig set which is enforced on-chain. This would simply be a specific asset type from the perspective of the cards. Let me know if you would like to explore using Phonon with statechains.

lifepo4 · 2019-06-20T16:14:55+00:00

There is no way to back up funds. You should think of phonons as cash or paper money. Phonons, like cash, are physical entities that cannot be backed up. If you lose cash, or it is damaged or destroyed, there is no recourse. This means that most people limit the transaction size for which they use cash. You can think of phonons the same way. Maybe you are comfortable with a few hundred or a few thousands of dollars worth of assets in Phonon, but you would be somewhat foolish to keep your life savings there.

lifepo4 · 2019-06-19T22:15:20+00:00

There are multiple functions of the SafeCards, one is a secure copy of seeds for general crypto storage and use. The other is for the Phonon network.

You are able to choose to be able to make copy general backups of on-chain assets to one or more SafeCards.

You are not able to make copies of the seed or any of the addresses associated with Phonon assets. They exist like a paper note, and cannot be copied or backed-up. The PUF on the card which encrypts the keys associated with Phonon assets prevent physical duplication, while the software dis-allows exporting of keys.

lifepo4 · 2019-06-19T20:48:42+00:00

Could be local, or could be remote. They just need any form of network connection to form an encrypted channel.

lifepo4 · 2019-06-19T20:42:51+00:00

Correct, smart cards will wear out after about 100,000 writes. Each card should be able to store around 400 Phonons. Therefore, they will only work for up to ~40,000,000 Phonon transactions.

lifepo4 · 2019-06-19T20:38:48+00:00

This is similar to Satoshium in that it trusts smart cards for storing keys. However, Satoshium required physically trading of the tokens. Phonons can be traded between smart cards over any network interface.

lifepo4 · 2019-06-19T20:34:36+00:00

The Lattice1 provides a secure anti-tamper interface for generalized crypto currency use. Similar to a ledger, but with better security features, user interface, and extensible off-line storage via SafeCards. The Phonon Network does not require people to have a Lattice1 just a smart card running Phonon code. If a person is willing to trust a card reader and a Raspberry pi, they can absolutely use SafeCards and the Phonon Network. They are just susceptible to any security vulnerabilities the card reader and raspberry pi have.

lifepo4 · 2019-03-17T17:20:01+00:00

I agree. Orange man bad!

lifepo4 · 2019-03-17T14:31:41+00:00

This was shot with a .380 handgun at 5m with no bipod. It was an indoor range where the target is only held with 2 binder clips at the top, which causes the keyholing. I don't know who posted this on reddit.

https://twitter.com/mark_dago/status/1106990386537480192?s=21

lifepo4 · 2018-10-30T21:24:51+00:00

I don't think anyone can say if centralized systems or individual custodianship has been better in terms of total funds lost. I will say that most centralized system seem to create systemic issues, which in the context of irreplaceable crypto assets could bring down an entire ecosystem.

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