Tim π½
@tim_bitcoin
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A brain-brother of the night dispatcher of Bradshaw
Tokyo
Joined October 2008
Remember that time MtGox unironically emailed out "some security tips"?
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Stablecoins are not backed 1:1 by dollars. They're only "redeemable" or "pegged" to dollars. This is not a secret, it's just something people incorrectly assume.
Why do the stablecoins have to be fully backed, but the banks don't have to be fully backed?.
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They did the meme!
Most current securities rules and regulations are premised upon the regulation of issuers and intermediaries. The drafters of these rules and regulations likely did not contemplate that self-executing software code might displace such issuers and intermediaries.
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Hi Jack, here is a use case
Crypto is a area I had never be able to understand. I still donβt see a single use case yet on how crypto is helping anything in the last 15 years.
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RT @blksresearch: Not ECDSA. Not Schnorr. Meet DahLIAS πΊ. A full aggregate signature scheme, that actually works on Bitcoinβs curve!. New bβ¦.
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It's still firmly in the uncanny valley.
thrilled to be partnering with jony, imo the greatest designer in the world. excited to try to create a new generation of AI-powered computers.
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The penny is actually a negative penny though.
when I was in 2nd grade, I thought I was cooking by inventing the "negative penny" to make it easier to pay with exact change when you buy something for 99 cents.
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RT @epaleezeldin: Start/stop technology: where your car dies at every red light so companies get a climate participation trophy. EPA approvβ¦.
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RT @jxpcsnmz: Filters can only work at the consensus layer. Otherwise, miners will assert their right to ignore relay policy to get lucratiβ¦.
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A lot of people don't seem to understand that the OP_RETURN change is not a consensus rule change. It does not change what is or isn't allowed on the blockchain. All Bitcoin nodes already accept >80 byte OP_RETURN outputs on the blockchain. Before starting an argument one way.
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RT @AP: BREAKING: China says it will `counterattack with great strength' if Trump acts on new tariff threat, says negotiations impossible.
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Neither USDC nor USDT qualify under this definition.
The SEC has determined that fully-reserved, liquid, dollar-backed stablecoins are not securities. Therefore blockchain transactions to mint or redeem them do not need to be registered under the Securities Act. Helpful clarity from @SECGov.
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"we must simplify complex digital regulations". The problem is: regulators think that the way to do this is to create more regulations, not remove existing ones. Regulators gonna regulate. Central banks gonna print money. It's in their nature, they can't help it.
Europe must remove all barriers that prevent us from being at the forefront of the AI revolution, says President Christine @Lagarde at an ECB conference. We should expect and prepare for major changes in two areas: productivity and labour markets.
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Yes, this is one fact that people viscerally refuse to believe when they hear it, even bankers. It just seems so bizarre and wrong and yet it is the foundation of the current economic system.
Wait till he learns that every bank has one of these computers, and that every loan a bank makes is made with instantly-created USD. Almost nobody realizes this.
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