Veyro

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[Modmax 🛡️ @modmax0]

Mert says the risk of losing money due to a smart contract hack is a trillion times higher than cryptography breaking

“I would say your risk of losing money due to a smart contract hack is probably a billion times higher, maybe a trillion times higher, than some fundamental cryptography breaking.

There's certainly reason for core developers, like Illia and Dev, to start thinking about these types of things, so nobody's caught off guard by a black swan. But as you can tell from this panel, they're already thinking about it.

Nobody's just sitting on their hands.
Even in the worst possible scenario, you're still going to be fine.

[Veyro @d3abduni_]

@notthreadguy Notis on

[Modmax 🛡️ @modmax0]

Threadguy Explains Why Quantum Hacker would Quietly Drain Dead Wallets And Not Satoshi Or Saylor

“Who would you crack? What would you do?

You wouldn’t crack Satoshi, obviously, because the whole thing shuts down. You wouldn’t even get to sell. You wouldn’t crack Saylor or somebody well known and popular.

You also can’t crack someone who has too much Bitcoin. But you can’t crack someone who has too little either, because you need to make enough money before somebody else catches up. Both of you to assume you’re the only person who knows what’s going on.

So you’re probably going to target someone with a moderate amount of Bitcoin who’s super anonymous.”

[Modmax 🛡️ @modmax0]

Mert says Zcash is "the best position" to handle AI/cryptography risk because it's limited in scope

“This is why I say Zcash is sort of the best position to handle this. The first reason is because Zcash is very limited in scope.

It's literally just a store of value. It's not programmable in the same way that Ethereum is. It just does one thing, and it does it really well, and so the risk is reduced.

And this is also why I'm against shielded assets, in terms of stablecoins on Zcash or something, because you want to minimize the risk surface.”

[Modmax 🛡️ @modmax0]

Threadguy Says Crypto Twitter Has Become Completely USELESS 😭

“I also think Crypto Twitter right now is so ridiculously useless, it's not even funny.
It's relatively entertaining to read Chumba and these guys, because they're funny, but it's so useless right now. I have no words.

you take three days off and you think to yourself, "I should never open this app again." It is so unusable right now.”

[Modmax 🛡️ @modmax0]

Threadguy Says People Don’t Appreciate How HARD It Is for Meme Coins to Reach $100M 😭

“My actual main gripe with meme coins is people don't appreciate this enough. How perfect the conditions have to be for a meme coin to go really high.

People do not give enough credit for how many things have to go right in a row for a meme coin to get to $50M, $100M. Like how absolutely perfect everything has to be, and how many things you can get vamped on.

On a million chain, the dev can launch a second coin. Random shit like oil going high, Bitcoin flash crash, Zcash flash crash”

[Veyro @d3abduni_]

Don’t miss!!!

[Modmax 🛡️ @modmax0]

Threadguy previews tomorrow's panel with the founder of Near, ZK Dragon and Tulip king on AI-resistant cryptography

“What we're going to do tomorrow is I have a panel. The founder of Near, Mert, and ZK Dragon, who allegedly is like the smartest cryptographer in the world. They're all gonna come on stream.

Tomorrow we're gonna do a panel also with Tulip King, and we are basically gonna talk about what these goalposts are, how we're gonna know when we hit them, and what perfect cryptography, or AI-resistant cryptography, actually looks like.

Because I do believe, in my novice understanding of how this works, that this is possible. And to me, it's the ultimate wall of worry to climb. Where you could get some of these, I mean, you could put a price target on that as whatever you want. It's like a perfect cryptography.”

[Modmax 🛡️ @modmax0]

Threadguy WARNS Crypto Traders to NEVER Keep Their Money on Ledger After $86M Exploit 😳

“The only thing I can recommend that you do is put it on Coinbase and just pray.
Because what happened is nuts.

Basically, the story where $86 million was exploited from Ledger is there's this third party reseller called Crypto Billis, It's a Southeast Asian Web3 and online crypto commerce store. They sell hardware wallets and self custody tools.
First of all, you should never buy a hardware wallet from a third party reseller. It's nuts.

I mean, that is just straight up nuts in the first place.
Like, it's almost like if you are willing to do that, you don't even have enough money in coins.”

[Modmax 🛡️ @modmax0]

Threadguy says a coin going up without him in it feels worse than death

I make a lot of money, I say I'm gonna step away from the computer, and then a day later I basically enter back in with everything, and then I give back the market like 30% back for no particular reason. Just because I can't really stand not having coins. I love the volatility, I love it.

The idea of something going up without me is just, it's like worse than death. For there to be a coin that goes up only and I don't have any, it's like worse than death. It's like the worst thing ever.

[Modmax 🛡️ @modmax0]

Flood explains why leverage is often the thing that kills you, and why his fund almost never uses it

“Leverage is often the thing that kills you. It's the thing that makes you, and it's the thing that kills you.

We almost never leverage a fund. It would have to be a once-in-a-lifetime event for us to even exceed, like, 2x leverage on a directional position for our gross book.”

[Veyro @d3abduni_]

Ft @notthreadguy @counterpartytv

[Veyro @d3abduni_]

Threadguy says his biggest problem isn't Bitcoin getting cracked, it's crypto going to zero, and he's not buying the "there are bigger problems" cope

“I actually have no bigger problem than crypto going to zero. That’s my singular biggest problem”

[Veyro @d3abduni_]

@scubaryan_ Coming from the person being accused of ?

[Veyro @d3abduni_]

@FearedBuck You’re welcome 😂

[Veyro @d3abduni_]

@blknoiz06 Lmao

[Modmax 🛡️ @modmax0]

Threadguy explains what would happen if you ever moved Satoshi's coins, you'd become the most wanted fugitive in the world

“You move one coin, and one person finds out you have it, it's over. The whole thing is over. You're No. 1 on the government's most wanted list.

You can't do anything. You cannot call anyone. You can't OTC. You can't do a test transaction. You're the most wanted person in America.

All resources in Palantir stop what they're doing. They'd probably pause the Iran war to come for you.

Most wanted for what? For control of a $1.5 trillion asset. You're a fugitive. Everyone is coming after you, the Trump administration included.”

[Veyro @d3abduni_]

Ft @MarketBubble

[Veyro @d3abduni_]

Fazebank says esports is a failing industry because it abandoned the toxic culture that made it fun 🤨

“Rather than going like the entertainment route, you guys took it to the fucking baseball, golf route, tennis route.
Who tf wants to watch that ?”

[Modmax 🛡️ @modmax0]

Threadguy recaps Justin Drake's new paper warning that quantum computing could crack Bitcoin's cryptography

“Last time Justin Drake spoke, we're at $65k, just for the record. He wrote this paper with Google about how quantum is gonna crack cryptography, and everybody's gonna die and Bitcoin's gonna go to zero. And then nobody ever heard from him again.

And then he came out yesterday, on the back end of all of this. I know nothing about math, but all these math theorems are getting solved or making progress with OpenAI. And he publishes a paper, basically talking about, I know nothing, but I'll do my best, basically talking about how we are on track for some point in the future to crack cryptography in crypto. And if you have a large amount of coins, you should do something about it.”

[Veyro @d3abduni_]

Kai almost crashed out on Reggie for lying about him, Rakai, and many others. He also asked Reggie for proof.