0xdfaced

designer turned dev turned cypherpunk

[0xdfaced @0x0faced]

@ericmatus79 @luis_m_22 I’d also +1 for sell at a loss and buy back on another exchange. Tax lost harvest and deduct it on your taxes next year. If you buy back the same amount of Algos, it makes no difference if you sold at a loss. Don’t feed the $75 withdrawal trolls

[0xdfaced @0x0faced]

@ErikVoorhees @BernieSanders Source?

[Ram Ahluwalia CFA, Lumida @ramahluwalia]

The White House report shows crypto has a storytelling problem.

Crypto is viewed as a speculative, unregulated casino that does not deliver on benefits to the public.

The promise of crypto is significant.

The crypto sector needs to link crypto to direct public and private benefits.

Here is how crypto, together with an updated securities law framework, can address the big challenges of the day.

1. Problem Statement: There is no ‘capital market’ for small businesses.

The capital markets are only accessible to large financial institutions that meet the rigorous standards of an S-1 filing.

There are a couple thousand of these institutions (Google, Ford, Coinbase, etc).

But there are 30 MM small businesses. Small business is the engine of job creation.

Small businesses rely on credit to finance growth.

A loan to a small business goes a long way.

Imagine buying a house without access to mortgage finance.

Now imagine trying to grow a profitable small business and unable to expand because you cannot finance working capital (eg, raw materials, receivables, etc).

Banks offer loans to grow businesses with sound business models.

But, Banks are experiencing the largest drawdown in deposits since 1981.

Deposits will continue to flow into money markets.

That hurts credit extension and capital formation (new jobs, wealth creation, entrepreneurship).

3. Solution:

‘Crowdfunding’ can help small businesses access debt and equity from the Public.

A Kickstarter campaign is an example of Crowdfunding.

Crowdfunding impact is limited thus far. You can buy fractional interests in real estate, cars, and collectibles.

You can’t fund the expansion of Joe’s Pizza or Sally’s Nail Salon.

Crowdfunding can be revitalized by:

(i) updating the marketing solicitation rules and guidelines

(ii) enabling retail investors to crowdfunding equity or debt capital alongside the banks SBA lending program.

Banks originate and underwrite the credit component.

Crowdfunding provides the equity component. (Banks abhor equity risk and are short capital - a good match.)

iii) need crypto infrastructure to measure, exchange, and store value.

Together these initiatives can:

(i) enable banks to originate and underwrite credit (that Mom & Pop cannot underwrite, any more than they can assess what a bank does with their unsecured deposit)

(ii) enable unaccredited investors to participate in the American Dream.

The Boomers were lucky - they could buy a house and ride interest rates down to zero.

This next generation can invest in fractional slices of the American Dream - buy investing a basket of American small businesses via the SBA 7(a) lending program.

We can test with the SBA program, learn and expand from there.

(iii) enable crypto technology to custody, settle, and tokenize value.

The blockchain is ready for tens of millions of small businesses. NYSE can only handle a couple thousand issuers.

Linking crypto to the financing of the American Dream is bipartisan and good policy.

The banks have a ‘slow motion’ bank run into capital markets - fueled by higher rates.

Real world assets on-chain can fill the equity gap that banks and capital markets cannot.

Crypto can enable the current generation to invest in the American Dream.

[0xdfaced @0x0faced]

@0xStim @adamscochran bitwarden

[0xdfaced @0x0faced]

@d13_co This legitimately made me lol while I was following along that tutorial

[Mion @MionGroup]

Every Bitcoiner should understand this graph.

Without it, #Bitcoin would be impossible.

Elliptic Curves thread:

[Daniel Batten @DSBatten]

Why the ECB attack on Bitcoin is '22's most bullish event

Until now, Central Banks like ECB have only attacked Bitcoin through their derivative products

For example:

DNB is a central bank. But it has never ...
🧵

[tobi lutke @tobi]

Some really cool (programming) tech that I think are underrated right now and that have proven very useful to me this year:

[0xdfaced @0x0faced]

@coinbase This is great, nice job coinbase

[Keith Edwards @keithedwards]

This is old data from Elon's jet, so it's ok to share.

[Peter Van Valkenburgh @valkenburgh]

5/ The Digital Asset Anti-Money Laundering Act is a direct attack on that technological progress and also a direct attack on our personal privacy and autonomy.

[Dylan LeClair @DylanLeClair]

This entire space is just an attempt at modern alchemy. Create tokens out of thin air & use capital + marketing in an illiquid market to create a narrative.

Binance got 40% of BNB in ICO, which was worth ~$50b at the top.

CZ my man, I really hope you're telling the truth.

[Ram Ahluwalia CFA, Lumida @ramahluwalia]

1/ DCG published a letter to investors. It clarifies several misconceptions. It also raises new questions around the Promissory Note.

I have pored over this and the Grayscale 10-Q to connect some dots. We'll cover what happened and what we learned.

Let's break it down... 🧵

[Edward Snowden @Snowden]

I'm thankful for the Internet.

One day it will be free and open, edge to edge.

[0xDegen @0xDegenz]

Metamask will start TRACKING and associating your IP address to every transaction. 😱

No worries anon, let's bypass that SH!T.

This is how. 🧵👇

[James Lavish @jameslavish]

If Elizabeth Warren truly cared about you, she'd be focused on the $31T of federal debt, not whether you put a few percent of your 401K into #Bitcoin.

[Mosquito Capital @MosquitoCapital]

There are a lot more scenarios we've come up with in the comments, hopefully I'll get a chance tomorrow to write them up as well.

It's almost 4am where I am this week, so I'm going to have to log off soon! Thank you again for all the kind words, it means so much.

[Mr Ø @mr0chill]

This is just scratching the surface. There are SO MANY ways your attention is hacked for very little effort or cost.

Be more skeptical online. Social media numbers mean nothing and never have.

[Jon Wu @jonwu_]

tl;dr FTX is worse than Enron:

- run by SBF + a few insiders using Signal
- committing immense fraud
- and no sense of bank accounts, employees, cash on hand, liquidity management, digital asset custody, cybersecurity practices, or any form of corporate control or governance

[Adam Cochran (adamscochran.eth) @adamscochran]

82/82

Make no mistake. This wasn't the actions of a caring altruist who messed up.

This was theft and fraud - with a bankruptcy that will scar this sector for a generation to come.

Decentralization and transparency matters.

That's what this industry is fighting for.