GM #plebchain, stay humble, stack bits/sats, and think for yourself.
The cloud is someone else's computer. If you're someone who values your data, it's important to keep your own personal backups. The rule of thumb is to have a total of three backups across two different forms of storage media with one copy kept offsite.
Criminals go full Viking on CloudNordic, wipe all servers and customer data
IT outfit says it can't — and won't — pay the ransom demand
https://www.theregister.com/2023/08/23/ransomware_wipes_cloudnordic/
Multisig is not a setup you can set and forget.
Need to audit your system on a regular basis.
Prime Trust Lost $8M in Doomed Terra Stablecoin Investment, CEO Says
A separate 2021 wallet bungle by the crypto custodian, taken into receivership in July, cost it $76 million, a court filing said
"To not die, Bitcoin must become more used. The current thesis accepted by most “maximalists” is that Bitcoin will continue to be thought of as an investment and its price will keep increasing, the price movements will bring more attention to it in a virtuous cycle. Eventually enough people will want to hold it, so they will start accepting it as a payment for goods and services, and then it can start to be used as money."
The place of Drivechain in Bitcoin’s future
Often overlooked is the importance of interoperability between not only the second-layer protocol and Bitcoin but the layer-2 protocols themselves. A second layer, where end-users can leverage several protocols together and move seamlessly between them, creates a healthier, more resilient financial system and an overall better user experience—both essential for mass adoption. -- Chase Smith
Increasing Interoperability Between Bitcoin’s Second-Layer Protocols
https://blog.blockstream.com/increasing-interoperability-between-bitcoins-second-layer-protocols/
GM #plebchain, stay humble, stack bits/sats, and think for yourself.
L2 SIdechains and Drivechains P2P payments is where most of the scaling will happen.
"The headroom there isn’t unlimited — expect it to show up as fee pressure and backlogs and less ability to quickly resolve transaction storms. And that will in turn make it hard and expensive for people with small stacks to continue to do self-custody on the main chain. At that point, acquiring new high value users means pricing out existing low value users." --Anthony Towns
PUTTING THE B IN BTC
https://www.erisian.com.au/wordpress/2023/06/21/putting-the-b-in-btc
Best privacy apps for Android 2023
Most altcoins will be layered on Bitcoin eventually.
While bitcoin is still mainly seen as digital currency, it’s essentially a timestamped log with special properties.
As such, it can be utilized for far more things than payments and store of value. I presented some of the alternative uses several years ago and the list continues to grow.
Brian Deery, chief scientist at Factom, wrote an excellent history of timestamping, in which he argues that a secure timestamped record wasn’t feasible before the existence of secure digital value. -- Jameson Lopp
Bitcoin: The Trust Anchor in a Sea of Blockchains
Bitcoin software engineer Jameson Lopp takes a deep and enlightening dive into the unique attributes that make up blockchains.
https://www.coindesk.com/markets/2016/07/23/bitcoin-the-trust-anchor-in-a-sea-of-blockchains/
GM #plebchain, stay humble, stack bits/sats, and think for yourself.
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You just jogged past me
#plebchain, stay humble, stack bits/sats, and think for yourself.
US govt contractor Serco discloses data breach after MoveIT attacks
Hackers steal Signal, WhatsApp user data with fake Android chat app
A successful blind merge mined sidechain with significant MEV opportunities could offer Bitcoin significant benefits, which could more than offset the disadvantages.
Blind merge mining works by a third party running the sidechain, building sidechain blocks and receiving the sidechain fees.
Drivechains
If it seems too good to be true, it probably is.
Hackers use the allure of good news to disarm your suspension of disbelief. Try to remain skeptical when interacting with strangers, especially online.
A Fake Job Offer Opened the Door to a Suspected North Korean Crypto Hack
- Estonian crypto payments company CoinsPaid targeted for months
- $37 million stolen after hackers tricked employee for access
Its always good practice to use state-of-the-art cryptography to stay ahead of hackers, and exploits are found from time to time. This is one reason why it's good to use multiple keys and different devices to avoid single points of failure.
Newly discovered Bitcoin wallet loophole let hackers steal $900K — SlowMist
A series of attacks drained the wallets of BTC users by exploiting a faulty random seed generation algorithm.
Today the SEC opened a 21-day comment period for the ARK 21Shares Bitcoin ETF to the public following publication in the Federal Register, the latest delay for the regulator determining whether to approve or disapprove of a spot crypto ETF in the United States. ARK originally filed to list the ETF in May, giving the SEC a maximum of 240 days — until January 2024 — to reach a final decision.
SEC punts on ARK 21Shares spot Bitcoin ETF, opens proposal to comments
https://cointelegraph.com/news/sec-punts-ark21shares-spot-bitcoin-etf-opens-proposal-comments
GM #plebchain, stay humble, stack bits/sats, and think for yourself.
The Brazilian CBDC dystopia
The news from the Brazilian Central Bank reads as follows:
"The Brazilian digital currency gets a name and is now called Drex
Drex is coming to make life easier for Brazilians. With a fresh look and its own name, our central bank digital currency project, created and operated by the Central Bank of Brazil (BCB), is now called Drex. The solution, previously referred to as Digital Real, will provide a secure and regulated environment for the generation of new businesses and more democratic access to the benefits of digitalizing the economy for citizens and entrepreneurs.
In the logo developed by the BCB, the combination of letters forms a word with a strong and modern sound: "d" and "r" allude to Digital Real; the "e" stands for electronic, and the "x" conveys the idea of modernity and connection, representing the use of Distributed Ledger Technology (DLT), the technology adopted for Drex, continuing the family of solutions initiated by the BCB with Pix.
The visual concept of Drex, fitting into the context of the modernization agenda pursued by the Central Bank, Agenda BC#, is based on the use of typography and graphic elements that refer to the digital universe.
Symbolizing a transaction, the two arrows included in the "d" relate to the evolution from Real to the digital environment, emphasizing the attribute of agility. The use of colors, transitioning from blue to light green, conveys the message of "transaction completed."
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