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0 sats \ 0 replies \ @freetx 2h \ on: Swapping 36,000 BTC for ETH results in a loss of $177M Stacker_Stocks
Imagine how happy Vitalik is...you have a coin with infinite supply....he can just print another 886000 ETH when he sees a big whale come along and scoop up a free 36000 BTC.
Thats a great business model.
Thank you for the write up. Its good that we document these things to help others in the future. It can be very hard to admit these things because its easy to feel embarrassed by what happened.
Adding my own story of caution. In 2021, changelly service "scammed" me out of .33 BTC. At the time that was about $9000, now its much more obviously.
A client had paid me in WBTC (he had ETH or something and didn't have Bitcoin, so he offered to pay in WBTC which I accepted). Obviously I wanted BTC, so I googled WBTC->BTC services and changelly came up.
I did a small test transaction and everything worked fine. So I sent the balance of .33 and got hit with the "We have detected a suspicious transaction" message that changelly does....
They wanted my KYC info which I initially provided (I feel stupid for doing it, I should've walked away there, but I unthinkingly assumed it was just a procedure). After the KYC info they then requested more info....they said that the "background check of my KYC info raised redflags" - at that point I started googling and saw this is a common tactic that changelly does....they require ever increasing and impossible to provide hurdles for you to jump thru.
The real comedy of changelly is that they claim they are doing this to "abide with modern KYC requirements" but they themselves are under no such jurisdiction. Changelly is some eastern european scammers - whose ownership is very opaque with no public info about them. They are registered in an ever changing set of carribean islands. That is they pretend like "we have to require this info because of regulations", but in point of fact they are under no regulatory oversight -- afterall the conversion of WBTC-BTC is just happening on a cloud server someplace. There is nothing touching regulated financial markets.
I no doubt assume that they have sold my KYC info to others in their scammer network, but overall lesson learned.
Yes, I've thought about those things.
Maybe its sound....I can see that with delivery persons. Maybe they hear the sound of the truck and then ignore the sound of footsteps. That was my top theory for awhile. Except one day a door to door (roofing) saleman drove to my door and walked up to driveway. The dog start growling.
What could it be? different sound of engine? could it be smell from inside??
I think dogs are pretty much body language experts. Obviously I know they respond to verbal commands, but I think its debatable how much is understanding specific syllables.
I think the body language theory is how packs communicate, I think they are far more attuned, at a level we can't really process, to very subtle body cues. Its even possible that with the advent of spoken communication in humans we "lost" this ability somehow.
I'm sure everyone who has a dog can relate to this situation. You and dog are sitting on the couch together, you decide you will take the dog for a walk, its a random time, not a normal schedule you normally bring it....you make no verbal command to the dog. As you start getting up to put on your shoes, the dog instantly jumps up and runs towards their leash.
I've long puzzled over how my dog can distinguish delivery men (UPS, USPS, even our yard worker) from strangers walking up the drive way. The dog can be on the couch with me with no sight to the window....but somehow tell the footsteps are not a delivery man. How?
A helpful way to think of LN: (what I'm writing is not technically how LN works, but I'm explaining it in this way to help you understand the implication to your question).
Imagine we wanted to come up with an off-chain way to move bitcoin. One method would be.
- You create a new wallet and fund it with bitcoin
- Send me the seed phrases via email
- I recreate the wallet from seed phrases, now I have control of the wallet.
Obviously this scheme would never work in practice, but conceptually this is sorta how LN works (not really but its in the general ballpark).
When you "lock" funds into LN from onchain, you are creating a special multi-sig transaction. Then you can do offchain transactions with that special wallet...when closing that wallet to get your funds back onchain, some cryptographic magic happens so the close transaction holds whatever the funds of the last balance state were.
So the TLDR is, as long as the underlying wallet is non-custodial (ie. you hold the keys), then your LN transactions are also non-custodial. The 'greenlight' service of Blockstream is the server that is hosting the LN (ie. offline) portion, doing liquidity management, keeping last state, etc. However technically at any time you can force a channel close from mainnet and retrieve your funds. No funds on Blockstreams servers can be moved or accessed without your private key.
The only thing an ecash mint can do is freeze the whole mint. A stalecoin issuer can freeze a specific coin.
There is a more practical threat of ecash vs stablecoins.
The real way you get scammed via ecash is by "fractional reserve" ecash tokens. That is when you put your $100 of bitcoin into ecash token, the mint generates $101 in ecash tokens...sends $100 to you and keeps $1 for itself.
If they did this with self-control, it would be very difficult for anyone in the "ecash network" to detect this.
Whereas with most public ledgers you get to see exactly how many tokens of any given type exist.
The way you mitigate the ecash risk practically, is by never intending to hold the tokens for an extended period. So plan on spending all $100 ecash tokens over the next few weeks or whatever.
Thats probably an oversimplification.
Those are the "RAG" (eg search) content that is searched for a query. That is NOT representative of the data that is used in training.
So yes, reddit, wikipedia, youtube, facebook are going to score very high as RAG sources because thats where most of the new content is being posted on the internet.
So when you enter your query, those sources are being referenced for up-to-date info.
Have you heard the heatbeat theory? I wonder how that stacks up against this chart?
(heartbeat theory is that animals only get a set amount of heartbeats and mice have faster heartbeats than elephants, etc)
Mainly because I'd be skeptical that there would be hidden advertising/marketing leading me into a purchase.
Eventually 100% certain that "sponsored placements" would happen in AI training data. Wouldn't be surprised if its not already happening.
AI will be the best ad salesman ever created, because it will literally guide you to ask for the product.
I heard a podcast recently where they were discussing these sorts of usecases.
The main takeaway is that this is the case of very rich silicon valley developers trying to build solutions to problems that no one else has....specifically very rich developers pitching ideas (for funding) to mega wealthy investors and coming up with things like "Our AI bot can automatically make you reservations at restaurants....shop for your food, etc"
To me it sort of highlights a local top in the market. It is perhaps the industries dogfood.com moment.
@siggy47 I know you're a dog lover, so you might like this documentary if you've never seen it.
"Living with Wolves" https://www.youtube.com/watch?v=pgW9ofHAxIE
It follows the story of a wolf researcher in Idaho who was caring for abandoned wolf pubs from local sanctuaries. Eventually he formed his own wolf pack and set them free.
The interesting thing is that the wolf who became pack leader was not the biggest wolf, in fact he was quite a bit smaller than the largest male. However, the researcher frequently commented that he was the most "alert" and "intent"....and well he simply seemed to command the most respect.
This cause a bit of a stir when he first documented it, as it was previously assumed that it was always might makes right.
When you think about it though, its fairly dumb for nature to simply select on size. A big stupid wolf would be much more of a detriment to pack health than a smaller clever wolf. At the end of the day its all about leading the pack to food and keeping pack dynamics in check. Intelligence works in humans success, why not wolves....
I bet we are going to see lots more of this given new unlimited transfer rules + direct revenue sharing with student athletes.
These programs now are incentivized to create big media events to get some Day 1 income to pay for their hot new transfers.
My area (TX) has been developing some really good community / technical colleges. The really effective thing they have been doing is having industry-funded programs.
So a kid can do something like go into Petroleum Engineering which may be an Exxon funded program. The student can then transition into intern program at Exxon.
So from a 30,000 ft level you have:
- cheap tuition (~$3000 per semester)
- Exxon gets candidates trained to it's requirements.
- school gets industry subsidy money
- kids get practical education + oppurtunity
I really hope this idea starts spreading as it appears to be the way out for many young highschool graduates.
Its been the hot thing to do for the past few years. It worked out in LSU's case...
I think the theory is that an out-of-conference loss against a comparably ranked team doesn't really hurt the program that much from a pure calculation perspective.
In the case of Texas, you're right though that Arch looked pretty poor given the hype that surrounds him. Obviously he can bounce back, but it did tarnish him in the press...
I'm actually surprised that there hasn't been civil class actions suits brought against these types of institutions....particularly against the "soros DA hiring" fiasco.
Imagine if my non-profit was aimed at hiring the heads of fire depts around the country, and it turned out that we specifically hired and encouraged arsonist to be placed in that position.
That is really not different than what is currently going on. The current batch of DA's who actively refuse to prosecute crimes -- letting accused murders out with $5000 bails -- is not much different.
It seems the citizens of all these cities harmed by these practices should have a claim against these organizations...this is literally billions in damages....I'm surprised no enterprising lawyer has brought these cases yet. Its lifetime retirement money for the lawyer who would do it....
11 bits
You could also do this with pitches within a measure. Assuming C = 1, C# = 2, etc. Then if a measure contains the pitches C - D - D# - F# - B (order doesn't matter), then that represents bits 1, 3, 4, 7, 11
I tend to limit my eating out as well due to the 18% tip tax (especially adds up for larger family group).
However, having said that, all my UK based colleagues tend to remark how much better service is in US vs UK....and when I visit I do see it.
Woman and men seem to me to being manipulated for political gain.
Its interesting that the social push that all women should be in the labor force began """coincidentally""" at the exact time the US went off the gold standard.
Seems like it was a bit of marketing there...instead of "you now will need to have 2 earners to survive" it was "look at the strong independent women working alongside men!"
Not sure about that....whenever I engage "voice mode" on any of my LLM interfaces, I don't seem to get as good results long term.
I think thats because thoughts leaving your mouth are not as structured as when you finish typing them.
Typing gives you the chance to edit, which is crucial for maximizing intent.
Slop in -> Slop out