@KERNEL0x fellow Genesis KB
Chief Activist @younergycrypto
sign with your wallet, signal with your portfolio
right action, direct action, action in inaction
Last night the moon came dropping its clothes in the street.
I took it as a sign to start singing,falling up into the bowl of sky.
The bowl breaks.
Everywhere is falling everywhere.
Nothing else to do.
Here’s the new rule: break the wineglass,and fall toward the glasblower'
s breath.
Inside this new love, die.
Your way begins on the other side.
Become the sky.
Take an axe to the prison wall.
Escape.
Walk out like someone suddenly born into color. Do it now.
Your covered with thick cloud.
Slide out the side.
Die,and be quiet.
Quietness
Definitely worth my 2nd to last tweet! If you want to have an accessible yet deeply embedded perspective @sherminvo is your go to explainer.
Here's to the next decade: a fair farewell to the most fascinating open space I had been part of till now - Read this.
🧵 The 3rd edition of @token3conomy is out! This marks the end of a 10 year journey that began back in Berlin when the crypto community was still small. and everyone was trying to find words to describe this new, abstract Internet. Read more below 👇
9/ We are proud to be supported by:
1. @tokengineering that supported development of this classification and https://t.co/4Qp5zfkZCs project from day one with a Token Engineering Award grant and also as a community for years (and personally @akrtws and @sebnem)
2. @Optimism and @tecmns that funded our first token pages:
https://t.co/EUDAb3asZ8
https://t.co/l0oyrrIAkp
https://t.co/Nw9zrDRLTB
https://t.co/RYW1DFbLvW
In fact, meme agents are what cause the Attention Economy to implode entirely because it completely saturates the market with infinite levels of supply..
Just when an alternative comes along freeing attention for intentional and purposeful internet consumption
Most of crypto rn is just "onchain", *not* decentralized.
Courts *will* recognize the difference. It's time to stop the endlessly prolonged 'gradual decentralization' theatrics and start pushing the decentralization accelerator--or be regulated like a financial services biz.
completely different deal altogether. This doesn't say that @TornadoCash wasn't a service generally, but that the immutable smart contracts that were part of the software suite that the platform included were not. DOJ says Roman was running a service that violated sanctions, illegally transmitted money, and facilitated money laundering. This doesn't change those allegations.
BIG NEWS: Federal appeals court says Treasury overstepped its authority when sanctioning immutable smart contracts deployed by the @TornadoCash devs because they are NOT property of a foreign person or entity.
"The immutable smart contracts at issue in this appeal are not property because they are not capable of being owned. More than one thousand volunteers participated in a “trusted setup ceremony” to “irrevocably remov[e] the option for anyone to update, remove, or otherwise control those lines of code.” And as a result, no one can “exclude” anyone from using the Tornado Cash pool smart contracts. In fact, because these immutable smart contracts are unchangeable and unremovable, they remain available for anyone to use and “the targeted North Korean wrongdoers are not actually blocked from retrieving their assets,” even under the sanctions regime. Simply put, regardless of OFAC’s designation of Tornado Cash, the immutable smart contracts continue operating. And furthermore, because the software continues to operate regardless of the sanctions, and the blockchain technology “allows peer-to-peer transfers . . . without requiring the recipient to consent to transfer,” some users may become liable whenever someone transfers them digital assets via Tornado Cash, even without their knowledge or consent."
Further, OFAC's longstanding practice of including "contracts" and "services" as property doesn't apply here, because these smart contracts aren't contracts or services. On the services point, "No human effort is expended by the immutable smart contracts.
And even by the Department’s definition, the immutable smart contracts, which are nothing more than lines of code, are less like a “service” and more like a tool that is used in performing a service. That is not the same as being a service.”
Moreover, they aren't ownable, so even under OFAC's own regulations they aren't property that can be sanctioned.
In sum, they cannot be blocked under federal law. They certainly can't be blocked as an exercise of OFAC's discretion.
This does NOT mean that the rest of Tornado Cash is out of bounds for Treasury/OFAC too. The issue was about smart contracts with no admin key.
A good win. One which the Supreme Court would be unlikely to reverse. Another case where Loper Bright helped because the court wasn't required to defer to a permissible reading by the agency.
Kudos to @coinbase (@iampaulgrewal) for being a big driver of this.
Unfortunately all DAOs now need legal wrappers. I personally fought very hard to avoid this outcome but am now confident we tried our best before capitulation and the time has come to accept this at least until a legislative safe harbor of some kind.
https://t.co/jsvXAGb04g
Interesting take, but certainly what @balajis sees is not the end of the transformation - those individuals that rise from broken system and institutions, are from that sameness, just "more real".
They are triggering a mass reflection, which makes healing irresistibly compelling.
To elaborate: anything that comes from an institutional voice now feels fake. Anything that comes from an individual, even if flawed, feels real.
This is a reversal of the 20th century. In that era, there was a strong effort to maintain an impersonal “brand voice.”
Back then, you might not be able to tell one White House press release from another. That was what felt “professional” back then.
Today, that kind of institutional voice feels fake. And that’s why Biden and Kamala’s tweets sound wooden and focus-grouped, unlike Trump’s. Because they are still running that older institutional playbook.
Dito value creation for tokens.
It represents the wealth of the network, not what people think of it.
The meme coin wave though proves me wrong as in : people don't give a
We have come to think of stock market valuation as wealth. Real wealth is in the skills and capabilities of our people and our organisations. Real wealth is the capacity to solve our own problems. Real wealth is the ability to get big things done.
Stock market valuation is a measure, a metric and not a target nor the goal. When we make it our goal, we lose sight of what truly matters.