m/arc 🧭
@MarcHochstein
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Writer, editor, father, husband, lifelong New Yorker. Plotting my next act. On Mars: ~fodrex-malmev
Joined June 2011
As I’ve been shouting from the rooftops for years….
Cyber criminals bribed and recruited rogue overseas support agents to pull personal data on <1% of Coinbase MTUs. No passwords, private keys, or funds were exposed. Prime accounts are untouched. We will reimburse impacted customers. More here:
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There once was a man named Maduro. Who wanted to outdo the euro. He minted a shitcoin. Exchanged it for bitcoin . And left the bag holders with zero.
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Bitcoin isn’t radical. What’s radical is busybody A pressuring intermediary B to prevent individuals C and D from transacting. What’s even more radical is moving to a world where every last C and D has no choice but to rely on a B and therefore lives at the mercy of the A’s.
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"It may have something to do with a luxury penthouse in the Bahamas. That’s where 30-year-old Bankman-Fried is roommates with the inner circle who also ran [Alameda and FTX] . All 10 are, or used to be, paired up in romantic relationships.".
SCOOP: @FTX_Official employees say they were shocked by CEO @SBF_FTX’s deception. A peek into Bankman-Fried’s social circles reveals a leadership regime where personal and professional ties blurred. @0x_tracy reports.
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Try using Libra to send value to Wikileaks. Or a dissident in a sanctioned country. Or a camgirl. Or Pewdiepie. Or the next thing the Comstocks on either side decide to de-platform. Depending which way the wind blows, could be Planned Parenthood. or the Catholic Church.
Facebook's new crypto currency "Libra" is bad news for Bitcoin. Facebook will target the very market Bitcoin is counting on for growth, the unbanked in nations with high inflation. Libra will be stable, and much easier and cheaper to use as a medium of exchange than Bitcoin.
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A pension fund publicly said it bought btc and eth … and hardly anyone remarked on it. My intro to this week’s newsletter — subscribe here
After the ProShares ETF launch, bitcoin futures volumes and open interest on CME surged. That’s bullish. right?. Perhaps, but maybe not 100%. @lvlewitinn explains in this week’s Crypto Long & Short newsletter.
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1/ On Fridays I usually send an email to @CoinDesk staff highlighting the week’s best stories. Following this week’s layoffs, yesterday I sent instead a tribute to the stellar reporters and editors we lost. Adapting here. This is gonna be a long 🧵.👇.
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Craig S. Wright just told the jury: "@Jack [Dorsey] personally kicked me off" Twitter. (Via @cheyenneligon who is down in Miami covering the Kleiman vs Wright trial for @CoinDesk).
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“'Of course, I'm not Satoshi,' @peterktodd said. 'It's ironic that a director who is also known for a documentary on QAnon has resorted to QAnon style coincidence-based conspiracy thinking here too.'".
Leaked clips from HBO’s soon-to-premiere Satoshi Nakamoto documentary seem to finger former Bitcoin developer Peter Todd as the cryptocurrency’s creator. Todd denies it and says the filmmaker is "grasping at straws.".@cheyenneligon & @MarcHochstein report.
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How many layers of irony are we on when a sovereign nation adopting a global currency — one that is, by design, ignorant of and indifferent to geography, borders or local laws and regulations — is what ticks off the International Community?.
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“We think electricity directed to the bitcoin mining network is certainly a net positive for society.”. ⚡️⚡️⚡️.
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“You can become a sanctuary country for crypto,” @balajis says to @nayibbukele in @nic__carter twitter space.
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“If I told you 10 years ago that the entire world is going to have one taxi dispatcher, you would have laughed at me” — @naval (h/t @ryaneshea)
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“All the President’s Men” couldn’t get published with that title today. “Too vague.” “Not exciting.” “No search terms.”. It’d have to be called something like “Watergate EXPOSED: How Two Reporters Blew the Lid Off the Nixon White House COVER-UP and DESTROYED a presidency.”.
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And after 17 years at @AmerBanker, I start an exciting new gig next month. Stay tuned for details. Leaving AB in great hands. Congrats Rob!
Some personal news. After 17 years at @AmerBanker, I will be taking over as Editor-in-Chief in September.
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What’s radical is cops seizing assets of people who haven’t been charged with a crime and putting the burden on them to prove an asset wasn’t involved in a crime. What’s even more radical is moving to a world where ALL money is held at intermediaries who must comply with this.
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You’re delusional. No one is using that word, no one has ever, stop making things up.
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See, this is why you don't build surveillance states.
A madman has been given the keys to the surveillance state.
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"We don't even question the idea that financial institutions are turning over our data to the government without a warrant" in the US — @MartaBelcher #Consensus2021.
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A “private like” button that lets you indicate your approval of a tweet to the writer without revealing it to the world.
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1/ . I want to tell you a story. About a man I know. A hard-driving crypto journalist. Named @pete_rizzo_.
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"As it turns out, the ETF has been on the website since August, a spokesperson for DTCC confirmed.".Thank you @HeleneBraunn for showing this was one of the silliest pumps ever. .
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1/Earlier today, @coindesk's @IanAllison123 broke the story that @IBM is getting into crypto custody. This is a big deal. THREAD 👇.
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"Satoshi was 1st pseudonymous billionaire but it won't be the last" -- @balajis #Consensus2018 "One person, one group can post pseudonymously on the Internet and change the world and become a billionaire.".
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@binarybits My hill to die on: .As long as bitcoin lets A transact with B without C's permission, it's useful to _someone_ in this world. And as long as that's the case, value > $0. (Exactly how much? I have no idea.) .Anything else it achieves is gravy. (Did I just mix metaphors?).
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Find a soulmate who looks at you as intensely as Michael Saylor looks when he's buying another $500m of bitcoin.
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A crypto wallet called GretaMask that lectures you on the environmental cost every time you send a transaction.
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If ICOs get too out of control there could be a "Backlash against entire bitcoin crypto ecosystem" says @BenLawsky #Money2020.
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Colorado has “better night life than Wyoming,” jokes Gov Jared Polis at #consensus2021 — I am eagerly awaiting @CaitlinLong_’s rebuttal.
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Can this man bridge Wall Street and crypto for good? My profile of @tfjessop, head of Fidelity’s new @DigitalAssets business and one of @coindesk’s 10 Most Influential in Blockchain 2018. With cameos by @_jillruth @CaitlinLong_ @danielcawrey @jerallaire
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Since TD Ameritrade launched btc futures, price has gone down but interest is not waning. “We get calls, emails, 60k clients have traded something in this complex,” btc education events attendance “off the charts” #consensus2019.
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@amandalfischer How does it affect the safety and soundness? There was no run on JPMorgan for banking Madoff and Epstein and those guys did much worse things than making offensive remarks.
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"I talked to somebody whose gardener is buying ETH" -- @BrendanEich describes the bubble conditions of today.
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Does this require an explainer?.
Influencer says she was on a 'tapas and cocaine' diet to stay thin — here's why that's not healthy
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ETFs and ATHs are all well and good but you really need to read this deep dive by @baidakova on how some rascals are circumventing the exchanges’ KYC processes while the rest of us have to submit everything but a stool sample to withdraw $5.
One crypto exchange caught some users faking their KYC data. The users explained they were based in territories under international sanctions, so they wouldn’t be able to register with their real IDs.
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The sole surviving fragment of Satoshi Nakamoto's white paper, encased in glass. Scholars debate what the hieroglyphics say about block size
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1/Some personal news: I’m taking on a new role at @CoinDesk. Starting Nov. 1, I’ll be the executive editor for @consensus2023, shaping the narrative vision and content for crypto’s leading event (which, btw, will be April 26-28 in Austin, Tex.).
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1/#debanking is a longstanding challenge for crypto (and other legal, but politically disfavored, industries). My colleagues (and predecessors) and I at @CoinDesk have covered this issue for many years. Some highlights. 🧵 👇
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When I say,. “I like X [x= Bitcoin, monero, zcash]” . I mean: . “I’m glad X exists in the world,” . NOT “put all of your life savings into x”.
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You can also generalize this by removing "after a shooting" and it would still be true.
The rush to judgment after a shooting, before people know all the relevant facts & circumstances, is one of the worst parts of Twitter.
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Ethereum, "the Lego of crypto finance"--@VitalikButerin #sibos14 . modularity, son. Modularity http://t.co/V7Ds9vCBfD.
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Trust fund might make money or might lose money but at the end it doesn’t matter. Its purpose is to support decision to make btc legal tender and absorb risk from merchants says @nayibbukele .Someone ( I think @balajis?) suggests it’s a role analogous to market makers.
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I don't claim to be one, but:.Pretty sure it's "cypherpunks write code." .Not "cypherpunks threaten litigation and coordinate media reveals".
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The replies to this are awesome
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If only there were some sort of parable about the hazards of declaring emergencies in vain. A story simple enough you could teach it to small children, even.
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Target 🎯 makes its blockchain debut. Nice scoop this morning from @coindesk’s @baidakova and @IanAllison123 $tgt.
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@pete_rizzo_ @coindesk I learned a ton working for him. We’re all bummed to see him go. So everybody raise a toast. To the rock named @pete_rizzo_.
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"New York is the crypto backwater" after the BitLicense, @ShapeShift_io's @ErikVoorhees tells @brianeha in this Q&A
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1/ Reported tether probe is the big breaking story of the day, but don’t sleep on this document-driven banger by @Nate_DiCamillo in @CoinDesk
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