Crypbits

Within the darkness we find clarity.

[Crypbits @0xCrypbits]

The zec pump has been fueled by a narrative coordinated by a cabal to psyop the newbies flowing into crypto and dump on them

like mert shilling it to all his retarded solano followers

zooko is a cia plant. and Zcash has been proven traceable

And now this shit

Just use Monero

[zooko🛡🦓🦓🦓 ⓩ @zooko]

https://t.co/v7BiOdzU9E

[namic @daonamic]

https://t.co/HcnpIG4zUI

[Crypbits @0xCrypbits]

@jimjim_eth @DarkFiSquad This account has unfortunately resorted to posting ai slop everyday now. I wouldn't give much weight to their words.

[Crypbits @0xCrypbits]

- a multisig was exploited
- a second multisig exploited the exploiter
- a third recovery multisig requests the exploited funds
- lots of other multisigs contribute to the recovery multisig
- the recovery multisig fixes the original multisig problem
- decentralized finance ftw

[Aave @aave]

Aave service providers and ecosystem partners have established a recovery fund that factors in pending DAO votes, including the Arbitrum governance vote, indicative agreements, and successful execution to restore rsETH’s full backing.

We are DeFi United, and resolving this for affected users and the broader DeFi ecosystem is our top priority.

We have aligned with @KelpDAO and @LayerZero_Core on the technical steps required to execute our plan. That work is now moving forward.

Thank you to everyone who contributed to DeFi United and to the thousands of community members who stood with us throughout. Watching the DeFi community come together has been genuinely inspiring.

The final recovery plan, steps for users, and further updates will follow shortly.

[Crypbits @0xCrypbits]

@josephdelong Is this custodian in the room with us now?

[Crypbits @0xCrypbits]

@pintail_xyz @koeppelmann unlike arbitrum, once upon a time gc purported decentralization and censorship resistance, yet ended up censoring the balancer hacker. do what you will with that.

[Crypbits @0xCrypbits]

@valkenburgh It's just the crypto intelligence agency fed LARPers and their posse building their brand. But don't worry they're here to help.

[Crypbits @0xCrypbits]

@stonecoldpat0 @donnoh_eth @Uniswap "Ethereum and L2 bull" out here shilling tempo smh

[Crypbits @0xCrypbits]

@mbaril010 @A_Leutenegger Plutocratic and delegation systems are still retarded

[DarkFi Squad @DarkFiSquad]

On June 5, 1991, Phil Zimmermann released a piece of software called PGP (Pretty Good Privacy).

Within months, PGP had spread across the globe.

Human rights activists used it to protect their communications.
Dissidents in Eastern Europe sent Zimmermann grateful messages.
"Let it never be, but if dictatorship takes over Russia, your PGP is widespread from Baltic to Far East now and will help democratic people if necessary."

The US government's response was a three-year criminal investigation.

Zimmermann was investigated for violating the Arms Export Control Act.

The charge was exporting munitions without a license.
The munition in question was encryption software - mathematical operations that anyone could perform with pen and paper, but which the government classified alongside missiles and bombs.

At the same time, the Clinton administration introduced the Clipper Chip - an encryption device with a built-in backdoor for government access.

The idea: Americans could have encryption, but the NSA would keep a copy of every key.

The cypherpunks fought back.

When the government claimed that software was different from speech, Zimmermann worked with MIT Press to publish PGP's source code as a physical book.

The argument: if you can't ban a book, you can't ban the code it contains.

The strategy worked.

By 1996, the investigation was dropped.
Federal courts ruled that encryption is protected by the First Amendment. The Clipper Chip was abandoned after researchers found fatal flaws in its design.

In the 1990s, the cypherpunks defended the right to write encryption software.

[Crypbits @0xCrypbits]

people hate you because you're just a corpo cuck sellout that will ride any narrative that might keep solana relevant.

[mert @mert]

me: I like zcash

monero ppl: you are evil vile scum. it is not enough that my coin goes up because of you shilling privacy. your coin must go down. hitler was less worse than you. I will have my vengeance. I have just placed a satanist spell on you.

well-adjusted community!

[Crypbits @0xCrypbits]

zcash is just the current psyop

[Swayam @DevSwayam]

If you think @Zcash solved privacy, you’ve misunderstood what privacy in crypto really means

I’ve been working in privacy for the last two years, and honestly, it’s frustrating to see how many people still consider Zcash as the best privacy solution, even when projects like @RAILGUN_Project , @nocturne_xyz , and @0xprivacypools exist.

It’s like saying you believe in Bitcoin as the ultimate crypto, but not Ethereum. Privacy is much more than just private money. With Zcash, you can’t do much beyond private transfers. Sure, you can add some slop on top of it, like posting or inscribing data, trees, or commitments but that’s a topic for another day.

What I truly believe in is private money that can perform private actions on-chain - truly onchain. In that sense, teams like @aztecnetwork , @0xMiden , @zksync private validium have done incredible work, which makes me bullish on Ethereum.

But and this is a big “but” ZK is still not there yet.
When I say that, the real question to ask is:

If you take any major chain with a strong user ( base, Solana, Arbitrum, Hyperliquid, Polygon, and others )can we layer ZK on top of all user actions and still maintain the same performance without privacy becoming a bottleneck?
People will say we can launch a new chain that does that, then the question is -
Can we allow any other private L2 or L1 to access these existing chains’ liquidity without compromising UX?
Right now, the answer is no.
( again this comes from a guy who worked with best in class interop team to make this possible. I could share all my lore here, but that’s for another day.)
That’s why I believe ZK-based on-chain privacy still needs time at least two more years, but it’s absolutely the endgame. ZK is literally the endgame for privacy.

This perspective doesn’t come from theory, it comes from experience. I’ve installed the Railgun app and synced all Ethereum data from genesis just to check if I had received any encrypted notes. I’ve used Privacy Pools. I’ve gone through Nocturne’s codebase and many other small and large privacy projects.

Another example: a true privacy solution should offer a UX as smooth as @fluidkey. Whenever someone asks me which private app they can use today, sadly, the only one I can recommend is Fluidkey.
I haven’t yet seen a single ZK-based product that delivers end-to-end privacy with a UX anywhere close to that.

Having written a lot of code in both confidentiality and anonymity systems and having used most of the major privacy apps out there, I’m confident to say again that ZK isn’t ready yet. But I’m equally confident that it’s where we’re headed.

It’s the same with other approaches like FHE with MPC and maybe zkFHE, they’re all part of the long-term vision.

I’m intentionally not mentioning what my organization does or how we solve this, because I want to keep this open-ended, to hear others’ opinions:
Why do you think ZK is already “there”?
Or why do you believe Zcash is still the best privacy crypto ever built?

But still, I love everyone who values privacy :)
It’s privacy season, baby

[Crypbits @0xCrypbits]

the guy with DeFi in his name using CEX

[Ignas | DeFi @DefiIgnas]

If I want to avoid doxxing my wallets sending USDC I do this:

Wallet1 → CEX → Wallet2

I can’t use mixers (straight to jail!)

Who's building something legally compliant without KYC?

[Crypbits @0xCrypbits]

@hosseeb fuck VCs

[Crypbits @0xCrypbits]

@web3privacy @VitalikButerin @SCBuergel @hoprnet @_wjth @nym @RogerDingledine the weirder they look, the better they dev

[Crypbits @0xCrypbits]

@jack_anorak @lex_node makes sense you're sympathetic since both aero/velo protocols are centralized and you sold out to a centralized exchange.

[Crypbits @0xCrypbits]

@DromesLaw but what happens when said devco can dictate which tokens can be incentivized to generate said revenue by gatekeeping gauge creation via a multisig?

[Crypbits @0xCrypbits]

@LefterisJP @rotkiapp @gitcoin @Giveth Don't you charge subscription fees

[Crypbits @0xCrypbits]

@DrNickA Oh look another Ethereum deserter who traded their values for money to work for another failed "ETH killer" writing giant text blocks about how Ethereum is again threatened by another ETH killer being built other Ethereum deserters.

Retardio

[Crypbits @0xCrypbits]

lost another one. keep tabs on those who trade their values for financial gain. moloch is everywhere.

[Dankrad Feist @dankrad]

I am excited to announce that I will be joining Tempo. This last year has been a turning point for crypto, where we have finally seen the outlines of our vision being materialized. While payments used to be front and center in the early days of crypto, I see a special opportunity to finally achieve this ambitious goal with relentless execution on both the technical and distribution fronts.

I believe that the real world moment is now, and I want to make sure we do not miss this window to touch normal people’s lives everywhere in the world. I have dedicated the past several years to architecting and scaling blockchains, and I’m excited to leverage my learnings together with the very strong team being assembled at Tempo.

My journey in Ethereum first started when I began working with the EF research team in 2018, and later joining full time in 2019. The project has greatly matured since then and with the soon coming Fusaka upgrade will implement PeerDAS, a significant scaling milestone I am proud to have contributed to. I am very happy to have played a role in leading to more people being able to use Ethereum and I look forward to continuing being able to do that. Over the last year, I have been involved in advancing Ethereum Foundation’s strategy and roadmap and I will remain a research advisor to the three strategic initiatives (Scale L1, Scale Blobs, Improve UX) at the Protocol Cluster at the EF.

Ethereum has a strong set of values and technical choices that make it unique in the world. And Tempo will be a great complement, built using similar technology and values, whilst being able to push the boundaries on scale and speed. I believe that this will be of great benefit to Ethereum. Tempo’s open-source technology can easily integrate back into Ethereum, benefiting the entire ecosystem. Ethereum and Tempo are strongly aligned, as they are built with the same permissionless ideals in mind. I am looking forward to staying involved with the community and continuing to push Ethereum forward!