The Faceless Shepherd

This is just taking the easy way out imo. What people should learn from this is to move away from the centralized design where some admin keys can steal the fund. This design is toxic and spread like cancer. Protocols like AAVE, itself doesn’t have admin keys that can steal funds, but just because it listed a collateral like rsETH, it inherits the single point of failure. This is how centralization sneaks itself into every fabric of defi. But instead of moving away from it, we are now taking a route that justifies even more admin control.

DeFi just rugged DPRK of $70M. This was surely an insane undertaking by a massive amt of people. I want to say thank you to EVERYONE who played a role. Including those who pushed back. Great things rise from tension, from the hard moments. This is DeFi. DeFi fucking wins.🫡

Code is law applies to immutable contracts with zero or limited admin privileges, which Kelp DAO is not the case. Permissionless smart contract platform can be used to build the most trustless projects, and it can also be used to build fully centralized projects. Just because a lot of people building projects with excessive centralisation, we can’t dismiss the potential of the idea of trustless smart contracts.

@coinbureau “Code is law” until the hack is big enough.

🔥JUSTIN SUN OFFERED TO NEGOTIATE WITH THE $292M KELPDAO HACKER Sun posted on X telling the hacker, "How much do you want? Let’s just talk", adding it's not worth sacrificing both Aave and KelpDAO. Sun argues the hacker can't realistically spend $300M of stolen crypto anyway.

Introducing the open source version of evm now: evmnow.eth.limo We believe EVM contracts deserve a simple, open source UI that enables users to use contracts permissionlessly. That's why we're working on a standard and sdk and the above example dApp UI to power better UX for interacting with smart contracts.

Code is speech

@PeterSchiff @saylor You are cherry picking the data in the first place, you picked exactly the 5 year timeframe, not 10 years, not 15 years, but 5 years

@saylor I said five years ago, not five years and eight months ago. Stop cherry-picking low points to make your shitcoin look better. Now that I've got your attention, care to actually debate Bitcoin? Who wants to moderate? I'm fine if it's another Bitcoiner. Two against one seems fair.

Over the past five years, the price of Bitcoin is up by just 12%. Over the same time period, the NASDAQ is up 57.4%, the S&P 500 is up 59.4%, gold is up 163%, and silver is up 181%. If the appeal of Bitcoin is its superior long-term performance, why should anyone keep HODLing it?

if you’re asking me a question about how to improve opsec you should def check out SEAL Frameworks frameworks.securityalliance.org literally all of this was written by real people in this space, for real people on this space.

@sesi_the_man What does this have to do with not trusting third parties?

This arrived recently, at my home. Ironic that so many of the people who profess cYpHeRpUnK values and scream the loudest that "trusted third parties are security holes" are the same people who invest in and promote the companies that make these kinds of attacks possible.

Bitcoin has at least 186.7 million UTXOs that need migrating to post-quantum cryptography before quantum computers break ECDSA-256. The absolute minimum time to do this from my research paper, packing every block optimally, zero normal transactions, is 76 days. That's not realistic. It's a theoretical floor. In reality, Bitcoin still needs to process normal transactions during migration. So the question becomes: given a quantum computing deadline, what percentage of every block must be reserved for upgrade transactions? If we take IonQ's roadmap (~1,600 logical qubits by end of 2028), that's roughly 1,032 days from today. The minimum block space required: ~7.4% of every single block, starting now. But that assumes migration starts today. It hasn't. There's no agreed signature scheme, no consensus on an upgrade path, and historically Bitcoin upgrades take years of debate (remember SegWit?). Every day of delay pushes that percentage higher. I've built an interactive calculator where you can adjust the deadline yourself and see what it means for Bitcoin's capacity. Links in the description Calculator: josephkearney.co.uk/bitcoin-quantu… Full paper: arxiv.org/abs/2410.16965

Spread awareness

“You can’t throw an AI agent in jail” Yes, but there is always an “ultimate beneficiary owner” behind an AI agent and he/she can be thrown into jail. I don’t think it is possible nor there will be incentive to have an AI agent that controls a private key that no human can access because some human has to control the hardware that hosts it, and the profit AI agents make ultimately flow back to its ultimate beneficiary owner.

Can an AI Agent really make money? Only if they "have a comparative advantage over human beings." “You cannot enforce the law against an AI agent…" "You can't throw an AI agent in jail.” “What can a AI agent do that’s hard for a human being to do?" "The answer is crime." "Scamming people,” “hacking people,” “creating all sorts of nonsense on the internet.” @hosseeb 🎬

Former CIA Officer @beausecurity drops a clean security rule: The “3 wallet system”: - 1st wallet to “carry around… for tiny thing.,” - 2nd wallet dedicated to “riskier activity” like when you “sell an asset,” “interact with a smart contract,” or “grant approvals.” - 3rd wallet where you “never grant approvals on” and “never really do anything with except… transfer assets to and from them.” The goal is simple: “my riskiest activity is far away from my most valuable assets.” It’s “betting against myself” so the mistake never happens “on a wallet that has my most valuable assets.” w/ @lopp 🎬

The SEC just handed crypto its most important win of the year so far, but nobody’s really talking about it. Here’s what actually happened today, and what comes next.

There is also an important synergy between FOCIL and AA (EIP-8141, which is based on 7701): 8141 makes not just smart accounts (including multisig, quantum-resistant signatures, key changes, gas sponsorship) first-class citizens, it also can do the same for privacy protocols (either indirectly via paymaster, or if we add 2D nonces, directly as a multi-tenant account). "First-class citizen" means that operations sent from that account can be included directly onchain as transactions, with no wrappers. FOCIL enables censorship-resistant rapid inclusion of any transaction. Hence, with FOCIL and 8141 together, anything, including smart wallet txs, gas sponsored txs, and even privacy protocol txs, can be included onchain through one of 17 different actors (the proposer or the includers) that are all chosen randomly in each slot. This gives us guaranteed rapid inclusion, meaning almost certainly within 1-2 slots, of any such tx, even in an adversarial environment. In this iteration, the FOCILs are 8 kB each, so they are very small in size. However, there is a natural future extension path to making them much larger, so that the majority of transactions to a block could, if needed, come through FOCILs. Such a design would have many of the properties of multiple concurrent proposer (MCP) designs, with the key difference being that FOCILs do not try to control the MEV-relevant "last look" role - that's still auctioned off with ePBS. The behavior of the last look role in "full MCP" depends strongly on the specifics of the design. The FOCIL design ensures that even if literally 100% of all slots get sold off via proposer-builder separation to a hostile actor that refuses to connect to public mempools, discriminates against certain applications, or is otherwise abusive, all transactions can still get quickly included. It's not eliminating the centralization of the proposer role, but it is heavily disempowering it. With EIP-8141 (AA), transactions from smart wallets, privacy protocols, etc, could be sent *through a public mempool, and directly received by a FOCIL includer*, no wrappers, "public broadcasters", or other intermediaries required. Ethereum is going hard.

@Helvelilia @Leader_zeez @stats_feed No, Soviet went bankrupt partially because planned economy, and China’s accomplishments are exactly due to the fact that they ENDED planned economy and embraced free market to a large degree.

@Leader_zeez @stats_feed Yes! China is an example. They still follow the ideals of communism, their government is based on a stalinist structure. Even the soviet Union had similar economic ideas as china at certain points like the NEP by Lenin.

🇨🇳 Share of population in China living in extreme poverty (below $3 per day): 1990: 83.0% 2025: 0.0%

@pretty_sarlin 2*13 - 3*5 = 11

Can you help them?

I actually think in peace time is when nation states tend to concentrate their power over the population. Also in peace time, between nation states, when there is a single superpower, that’s when power concentrates because that supper power can have great influence over international rules. Blockchain will be one of the things to keep them in check.

@0xshpd AI is always greatly destructing the social structure. I think both influence the productivity and social dynamic in different way. But in the peace time especially, AI is way more impactful than crypto. Crypt is more like an insurance type defense tech.

Lmao my friend at Google Gemini had the same view and pleaded v to do AI to save humanity and I tend to agree with this but you know what? V is still here saving his ten years old baby from being captured by all kinds of special interest groups. Scale and ossified Ethereum for the sake of Ethereum, all of us and Vitalik himself.

@markvalorian @dollarsanddata Actually the majority of Elon’s net worth currently is in SpaceX, which is private equity, for now.

@dollarsanddata Your argument is Elon couldn’t liquidate his tesla position? Literally the most liquid stock in the world?

Bill Gates is actually much wealthier than Elon Musk, but many of you aren’t ready for that conversation

This is overreach. “Communities to actively support what is right and oppose what is wrong” To define what is “right” and what is “wrong”, it inevitably introduces some kind of centralized authority. An open network should allow people to build whatever they want, as long as it is verifiable and auditable, people can choose what to participate in. Let natural selection filter out projects like luna.

Vitalik: It was no coincidence that Luna was not built on Ethereum On November 20, 2022, Ethereum founder Vitalik Buterin said in an interview that crypto communities should refuse to foster environments that enable harmful behavior. He criticized the Bitcoin community for appearing to unconditionally support powerful figures who back Bitcoin, citing El Salvador's President Nayib Bukele and the country's top-down, coercive push for Bitcoin adoption as an example. Vitalik also noted that Luna not being built on Ethereum was not accidental. While acknowledging that open systems cannot fully prevent malicious activity, he urged communities to actively support what is right and oppose what is wrong. Source：youtu.be/bIE1FH1EwZ4?si…