#attack of the 50 foot blockchain

[reddragdiva]

by Amy Castor and David Gerard

let's do a quick pivot to ai for a lol, i said, should be easy i said, not much work i said

#attack of the 50 foot blockchain #ai #chatgpt #sam altman #the crackpot offer indeed

[thetinyshiloh]

Nine People You'd Like to Know Better

Tagged by @thana-topsy, thank you!!

3 Ships Yyra Denirien x Teldryn Sero (OC x Elder Scrolls) - If you're following me and you don't know this... you must scroll tumblr with your eyes closed or something lmao. They are INCESSANTLY in my head 24/7/365. They are both so broken but trying their best and the most important aspect is that (in my canon story) their friendship happens FIRST and is MOST important before anything else occurs between them. I know all the smut I draw says otherwise, but I draw the smut because my main story is so slow-burn hahahaha. FemShep x Garrus Vakarian (Mass Effect) - I went hard for this one... it's almost like there's something about red-headed strong-willed women with snarky, non-human mercenaries with distinctive voices that just does it for me... Jude x Cardan (The Folk of the Air series) - Despite the fact these are "young adult" books, holy shit did they do something for me. Also 100000% better than any published erotica I've ever read AND a fantastic example of enemies-to-lovers. Anyways, I finished the main trilogy recently and these two have been rotating on a smaller platform in the background while Yyra and Teldryn continue to rotate in the foreground lol. I HAVE TO ADD ONE MORE, SORRY, I'M BREAKING RULES BUT NIKAIDO x KAIMAN (DOROHEDORO) HAS TO BE INCLUDED TOO, I am obsessed

First Ship I have such a hard time remembering stuff from my early life, but technically the first pairing of people that I fixated on (though this would be way before "shipping" was a thing I knew about) was Aerith x Sephiroth (despite how that canonically goes lol, but i guess i've always loved saying fuck canon).

Last Song "Magia" by Kalafina - Despite almost never watching anime, I binged Puella Magi Madoka Magica in one day (it's only 12 episodes) and holy cow that fucking show what the fuck. Anyways, the end credit song rocks and this is it.

Currently Reading Inside of a Dog by Alexandra Horowitz Attack of the 50 Foot Blockchain by David Gerard I recommend both of these so far, but I'm also only partially through them because I always take a thousand years to read nonfiction.

Last Film Dearest Sister (2016) - It's weird if I'm not watching at least one horror film in the past week, but this was actually two weeks ago? I think I need to re-watch it, but I thought it was pretty good!

Currently Craving I was craving salted nori today but I do actually have some and so I had it a few hours ago. Right now I'm not really craving anything! I guess this question is more about creative works but as usual, I go with food haha.

I tag: @downontheupside @mishikaiya @ocheeva @dontiform @perilously @fliinnie @orfeolookback @bendingsignpost @drowsy-fantasy

#realizing just now how my favorite pairing have been f/m where m is .... Other #like non-human at least #LOL OKAY INTERESTING #tag games

[maskspurpose]

i got tagged by @liapher to share books im planning to read soon! sadly i cannot provide a nice photo since im much more of an audio & ebook person, but:

the tombs of atuan by ursula leguin (followed by the rest of her bibliography tbh!)

on earth were briefly gorgeous by ocean vuong (i started it over a year ago at this point so when i pick it up again it may as well be starting over)

siren queen by nghi vo (was recommended to me by a friend and even at a brief glance the prose is absolutely gorgeous!!)

stone butch blues by leslie feinberg (AGAIN ive started it several times im just very particular about formatting and pdfs are hard)

autobiography of red by anne carson

placeholder spot for whichever discworld series i pick up next

and some nonfiction on my to read on goodreads rn

orientalism by edward said

gender trouble by judith butler

bad gays by huw lemmer and ben miller

attack of the 50 foot blockchain by david gerard

like 500 scientific papers and official government reports on fracking bc thats the subject of my final paper which ill be writing this fall

#i havent been able to read much bc my internship is nearing its end so i have like 50 things to do lol

[bitcoincables]

Concerns Raised About Backing of Spot Bitcoin ETFs and Potential "Paper Bitcoin"

Amid the ongoing hype about the potential approval of a spot Bitcoin (BTC) exchange-traded fund (ETF) in January 2024, some industry analysts have expressed concerns about some ETF-associated problems, including the issue of backing.

Josef Tětek, a Bitcoin analyst at the hardware crypto wallet firm Trezor, said in December 2023 that spot Bitcoin ETFs may take people further from self-custody and potentially create “millions of unbacked Bitcoin.” Tětek said that such ETFs could possibly end up in so-called “paper Bitcoin” in one of the bad scenarios.

Tětek’s statement has triggered significant feedback from the community, with many considering such claims as FUD. In contrast, others raised the question of how one would be able to ensure that an ETF issuer actually holds Bitcoin for its clients. Some crypto observers noticed it would be great to see “actual on-chain addresses” published in addition to the issuers’ BTC holdings reports.

It is “unlikely” that ETF administrators would create “unbacked BTC equivalents or misrepresent their backing assets,” according to David Gerard, author of the book and crypto blog Attack of the 50 Foot Blockchain. “This is regulated finance by well-known entities, and I don’t think unbacked ETF shares is a realistic threat model,” Gerard told Cointelegraph. Gerard didn’t elaborate on whether clients would be able to track BTC holdings by issuers.

Bloomberg ETF analyst Eric Balchunas compared spot Bitcoin ETFs to gold ETFs, stating that a spot BTC ETF would be very similar. “Gold ETFs are also ’33 Act grantor ETFs. They have been around for 20 years now. And every day, State Street for gold puts how many tons of gold are being held at the custodian. This will be the same thing,” Balchunas said in an interview with Cointelegraph on Dec. 28. The analyst stated:

Balchunas said that companies like BlackRock or Grayscale are “totally vulnerable” to Bitcoin volatility. “Let’s say they just weren’t buying Bitcoin, sort of like Sam Bankman-Fried style. And all these people had shares in Bitcoin,” the analyst noted, adding:

The only thing that might not be interesting in the spot Bitcoin ETFs — in their current most-likely form of cash-create — is that the investor will not get Bitcoin back instead of cash. “But if you’re the kind of person who wants Bitcoin back, just own it directly,” Balchunas said, referring to self-custody, which is believed to be a significant part of the original vision of Bitcoin by the anonymous creator Satoshi Nakamoto. “But anybody who owns a mutual fund or an ETF, and collectively they have like $30 trillion in assets, nobody wants to touch the underlying,” the Bloomberg ETF analyst stressed.

Despite many industry observers being confident that there’s no reason for ETF providers to misrepresent their BTC holdings in the cash-create model, others are still sure that there is a problem. “The only way to be certain that ETFs would not lead to any paper Bitcoin claims would be if the ETF shares were redeemable for actual Bitcoin,” Tětek told Cointelegraph. “But since the proposed ETFs are all cash in, cash out, this won’t be the case, and holders will have to trust without any option to verify,” he added.

Read more

#Bitcoin #ETF

[doubletamponne]

You know what, I've been reading about crypto for a while now (I had read David Gerard's Attack of the 50-foot Blockchain at least twice by the time Dan Olson's Line Goes Up came out). After a while, even if I can't remember the details of the lives of every weirdo in that space, it's always the same names that recur.

All of this is to say, I was definitely not ready for Jean Chalopin to prominently feature in Zeke Faux's Number Go Up. Granted, I knew nothing about his life after he got his name into the end credits of just about all the 80s cartoons of my childhood (seriously, go rewatch Ulysse 31, Les Cités d'Or, Inspecteur Gadget et j'en passe). But it'd be one thing if he'd stuck with failed attempts at opening theme parks; instead, he moved to the Bahamas, took over a bank and became heavily involved in crypto in general, and FTX in particular.

... I'm sure somewhere in his scripts there's a character calling him out, but right now I just need to get over that reveal.

#Souvenirs d'enfance #and crypto grifters #It's not every day they intersect

[petnews2day]

DCG’s problem is Grayscale, FTX Bahamas agreement, DeFi trading arrest, Silvergate Bank, Huobi, Binance – Attack of the 50 Foot Blockchain

New Post has been published on https://petn.ws/G2aqp

DCG’s problem is Grayscale, FTX Bahamas agreement, DeFi trading arrest, Silvergate Bank, Huobi, Binance – Attack of the 50 Foot Blockchain

Our third epic newsletter in a week! Some weeks are like that. This one’s over at Amy’s blog. [Amy Castor] In this episode: DCG completely played itself with its $1.1 billion promissory note (internal IOU) to Genesis to cover the 3AC hole, and with Grayscale before that How Silvergate is likely to get completely done […]

See full article at https://petn.ws/G2aqp #OtherNews

#Other News

[jhavelikes]

NFTs are entirely for the benefit of the crypto grifters. The only purpose the artists serve is as aspiring suckers to pump the concept of crypto — and, of course, to buy cryptocurrency to pay for “minting” NFTs. Sometimes the artist gets some crumbs to keep them pumping the concept of crypto.

NFTs: crypto grifters try to scam artists, again – Attack of the 50 Foot Blockchain

[newzzwired]

FTX headed for examiner, Bahamas crypto shenanigans – Attack of the 50 Foot Blockchain

FTX headed for examiner, Bahamas crypto shenanigans – Attack of the 50 Foot Blockchain

By Amy Castor and David Gerard “the contagion effect of everyone noticing all the exchanges are insolvent” — SubG on SomethingAwful     Scam bank: man fried As was fairly obvious would happen: Andrew Vara, the U.S. Trustee in the FTX bankruptcy, wants to appoint an examiner to find out what on earth was going on inside FTX. [Doc 176, PDF; WSJ, paywall] John Jay Ray III, the acting CEO of FTX…

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[unprettyextra]

Just read: Attack of the 50 Foot Blockchain: Bitcoin, Blockchain, Ethereum & Smart Contracts

#autoposted from goodreads

[ms-demeanor]

So I illustrated and laid out the cover of @reddragdiva’s bitcoin book that came out today. If you’re interested in reading about the myriad problems with cryptocurrencies and a general warning about tech journalism you can buy the book here: https://www.amazon.com/dp/B073CPP581

And you should! It’s really good!

#invective filled rants can blister #attack of the 50 foot blockchain

[reddragdiva]

#attack of the 50 foot blockchain

[ayeforscotland]

Hey, sorry but do you have any sources/ studies on being anti cryptocurrency? i want the legitimacy of good sources and science etc etc so i can talk my friend out of it

David Gerard’s Attack of the 50-Foot Blockchain is an absolutely must-read

And like all of these things there’s an extraordinary YouTube video by Dan Olsen - it’s extremely long but it’s an incredible breakdown of how cryptocurrency became popular and how NFTs are useless https://youtu.be/YQ_xWvX1n9g

[nprbooks]

Whooo it's Friday Reads! Better late than never. I personally am reading a pile of graphic novels to prep for taping a SDCC panel next week -- not a bad way to spend the weekend!

Weekend ATC's Kalyani Saxena is still on a romance kick with A Rogue of One's Own.

Big Boss Edith Chapin is digging into the rather exciting-looking The Saboteur -- she says she's only just cracked it open and has no idea what's in store.

Arts Desk editor Steve Smith has the excellently-titled Attack of the 50-Foot Blockchain, which he says is "the funniest, most no-BS treatment of the subject I’ve seen."

TED Radio Hour news assistant Janet Woojeong Lee picked up Don Mee Choi's National Book Award-winning DMZ Colony. She says poetry's not her go-to, but "but there’s something about this paper copy that feels like a more intimate flip-through experience."

Fresh Air's Bridget Bentz says she's just finished The Final Revival of Opal & Nev.

Our Code Switch pal Karen Grigsby Bates is reading The Ground Breaking: An American City and Its Search for Justice, about the Tulsa Race Massacre. "Ellsworth’s history reads like a mystery novel," she says. "What really doomed what was once America’s most prosperous Black neighborhood? And where are the bodies of some 300 Black Tulsans who were killed during one of America’s most violent episodes of racial violence? Ellsworth’s narrative is a good companion as the massacre’s centennial approaches (May 31st). There will be lots of talk about how far Tulsa has come. This book shows the challenge of what’s left to be done."

And engagement editor Nicole Hernandez has a classic, Paulo Coelho's The Alchemist -- but next up, a Tuscan cookbook! "I'm not fully comfortable yet traveling abroad amid a pandemic," she says, "but I want to read and do some things that are inspired from my past trips. The book was a purchase while my mom and I were waiting for a train in Florence -- she joked that I owe her some dinners but I need to practice first!"

I hope you all have some tasty weekend reads lined up!

-- Petra

#npr books #books #reading #friday reads

[colouritlater]

Started reading " Attack of the 50 foot blockchain" by David Gerard, and the crypto scene is so much stupider than I could have even imagined. Great read btw.

#the libertarian is the stupidest animal on earth

[azspot]

Or, indeed, the past forty years — the problem with neoliberalism is that you eventually run out of other people’s public institutions to asset-strip.

Attack of the 50 Foot Blockchain

#neoliberalism

[romeviharo]

The Attack of David Gerard's 50ft troll farm

The Attack of David Gerard’s 50ft troll farm

RationalWiki trustees’ David Gerard and Central New Mexico Community College professor Trent Toulouse appear to be quite an ambitious confederacy. Both Wikipedia editors, active within the community – maintain RationalWiki as a platform to battle internet cranks and claim to analyze the “anti-science” movement. David Gerard has now published a book “Attack of the 50ft Blockchain”which is written…

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#Attack of the 50 foot blockchain #david gerard #Rationalwiki\ #trent toulouse