@cz_binance KYC is a security hole.
Still crazy to me that nearly all organisations still ask for identifying information like your DoB and address while on the phone as a proxy to a password. 🤦♂️
We may as well give every organisation our passwords as a delivery service to hackers.
53/ tl;dr
✅Financial systems underpin everything, including our constitutional rights
✅Weaponizing the financial system to resolve domestic dissent or even criminal justice issues is a terrible precedent to set
✅We must preserve non-custodial wallets at all costs
51/ If you centralize the greatest honeypot of power and money in history in the hands of a handful of companies and the state, the really smart criminals won't be running around robbing banks, they will aim for corporate or political leadership.
And then they can win everything
Scalability isn’t important, until it suddenly is.
Decentralization isn’t important, until it suddenly is.
Privacy isn’t important, until it suddenly is.
1 / First draft thoughts on what is different about NFTs from an "institutions are coming" perspective
CryptoTwitter front-run the institutions badly in BTC and in ETH, but in the end, +/- the institutions "won" to some degree.
BTC and ETH remain an enormous achievement but..
Which all in all comes down to natural human behavior.
If you showed a punk to 99% of people and told them the price, they’d laugh at you.
However, as soon as fame, flex, and status are input into the equation,it no longer is about the art. It’s about the dopamine of the flex.
Obscurely, mitigating government corruption is a real blockchain use case:
"How blockchain can help dismantle corruption in government services"
https://t.co/tv1JnU05qR