knives don't kill people, canadians kill people
First, some context for the normies among us (): with most cryptocurrencies, everything you do is public and has no privacy guarantees beyond pseudononymity, which is often easily broken. This is problematic for drug buyers, money launderers, and also anyone who doesn't want their purchases, political donations, and so on to be literally public information. One way to deal with this problem is to use a currency like XMR that was designed from the start to be private, but everyone else out there can get their privacy with sketchy and inconvenient services created after the fact, called "mixers." A mixer is essentially a laundering service: you and a bunch of other people put in money, it gets shuffled around a bunch, then it gets paid back out to your other addresses, theoretically, though not necessarily always actually, anonymized beyond any hope of tracing.
Recently, the Ethereum mixer Tornado Cash was sanctioned by the US Treasury. Apparently, it has been used to launder over $500 million in fake internet coins, much of it by North Korea. This is big news in the crypto world, you can find articles about it everywhere from real news sites, not just crypto rags. It's not completely unprecedented, since the Bitcoin mixer Blender.io was also sanctioned a couple months ago, but it seems like nobody really cared about that one, it must not have been popular. Looks like it was only used to launder $20 million, that's chump change.
Since Tornado is now sanctioned, it has become illegal to do business with them, and coins currently held in their smart contract (the service) are effectively tainted. This is serious stuff so companies are cutting ties and covering their ass. Correspondingly, people on the World Wide Web are freaking out, mostly by making twitter posts, and by posting like 20 articles about it on HN.
The first interesting drama is with Github (HN, Twitter). After Tornado was sanctioned, Github deleted the Tornado code repositories hosted on their service (not found, despite archive) and went on to delete the Github accounts of several people who had contributed to the project, which seems a little ex post facto to me but . Opinions are divided! Many people are angry at the Treasury, some people are angry at github for covering their ass, but the prevailing attitude on HN is this one given by
People on Twitter are either wilfully dumb or simply ignorant.
GitHub had to do this. It was required of them by law. Tornado was sanctioned.
These prohibitions include the making of any contribution or provision of funds, goods, or services by, to, or for the benefit of any blocked person and the receipt of any contribution or provision of funds, goods, or services from any such person.
This is, unambiguously, directed toward entities such as GitHub providing them service.
I'm not a fan of GH these days but they did the only thing they could do in this situation. You can be upset about it, but you can't be upset at GitHub about it.
One Twitter user,
@rossdefi, asks [marsey added]:
Is it time for a decentralized github? Surely that must already be a thing?
I wonder if this person is aware of a decentralized tool called
git. It even involves a blockchain, at least by a certain definition of the term.
However the more interesting, in my opinion, drama coming out of this is this "dusting" thing. It's illegal for U.S. persons to transact with Tornado, but the thing is that people can send you cryptocurrency without your consent. Normally free money is nothing to complain about, but in this case it is tainted by legal liability since it can be traced back to Tornado's mixing service. A chaosmaxxer cryptochad has therefore decided to make a point by sending out a bunch of his now-sanctioned Ethereum coins in 0.1 ETH bundles (about 170 freedombux) to random people in what is being called a "dusting" attack (HN, Etherscan). It seems some of those targeted are e-celebs including "Coinbase CEO Brian Armstrong, TV host Jimmy Fallon, clothing brand Puma and a wallet created for donations to Ukraine." (HN, Coindesk (warning js cancer website), Twitter)
You could try to ignore the coins and not spend them to keep liability away from yourself, but a user on HN,
ArtTimeInvestor, explains a further issue:
Ethereum is very different in this regard than Bitcoin.
Ethereum has accounts. So when Ana sends coins to Berta, Berta has no way to leave those coins untouched. As they just raise the amount of coins she owns. So next time Berta sends coins to Charles, it is unclear which coins she sent and if those include Ana's coins.
Bitcoin on the other hand has no accounts. When Ana sends coins to Berta, she just marks those coins as "Can be spent by Berta in the future". Berta can decide to never touch them. When Berta sends coins to Charles, she decides which of her coins she sends.
What a pickle! You can't refuse to accept money with either currency, but with Bitcoin you can at least pretend like the tainted coins don't exist and never spend them. With Ethereum they're all combined so it's impossible to easily control your legal liability by not using them. It seems inevitable that tainted coins will slowly diffuse with normal ones, so the enforcement on these sanctions is surely going to be subjective and may bring future drama. Large-scale transactions of the tainted coins will probably be picked up, but they probably won't check every 0.1 ETH recipient -- yet if done on a large scale, sending these 0.1 ETH transactions becomes a way in itself to launder the tainted money a second time and untaint it!
Moral of the story: use to buy your darkweb meth and ignore all other forms of cryptocurrency.
Play stupid games, win stupid prizes, chud.
He copes on tape:
Long live the People's Republic of China!
- Goomble: Hat
Twittercels sleuthed out what was going on using prompts like "a man holding a sign that says" and then noooticing that the contents of the sign are not always gibberish.
Orange site post: https://news.ycombinator.com/item?id=32160352
The consensus says it's true, and the purpose of Wikipedia is to maintain the consensus. It doesn't matter whether it's factually true or false.
also some additional drama that may not yet have been posted, see hector martin coping on the matter:
if you weren't already, you should torrent specifically to steal from this dude
not the best drama in the world but i found this amusing, enjoy
Note that this is developing drama, and I have only very limited knowledge about cryptocurrencies due to being mostly partially heterosexual. So if you actually understand this shit please comment.
As you might guess, the cryptocurrency "Safemoon" is a scam. This sort of shit is really common, but this one involves a lot of money so I figured I'd type some words. Now, most cryptocurrencies are basically Ponzi schemes to start, since except for a rare few nobody uses them for anything besides speculating. But Safemoon was able to bring real innovation to the space.
Safemoon is designed such that each transaction has a built-in 10% tax. Out of this 10%: -5% is distributed proportionally to each Safemoon holder. -2.5% is destroyed, theoretically driving up the price by limiting supply -A further 2.5% goes into a LP ("Liquidity Pool") which as I understand basically takes the other side of transactions, enabling a somewhat liquid market for this shitcoin.
So basically this is a Ponzi scheme on crack. Any pretense of it being a real currency is dispelled by the massive built-in tax designed to keep people holding forever. But somehow, people are so fucking r-slurred that they have actually spent millions of real (or less fake) dollars acquiring this token in the belief that it will "moon". Examine the 260 000 subscribers to the official subreddit,
Anyways, now to the actual drama. Today on r/cryptocurrency, this post was made:
which is an analysis (to be fair, coming from a company that looks a little sketchy itself) showing that a portion of the tokens going to the "Liquidity Pool" were in fact just straight up being embezzled by the devs. Apparently the design of this protocol was not very secure. Now the evidence for this appears to just be simply looking at the blockchain, so I of course wonder why nobody noticed this before now. Probably all the triple digit iqs were just ignoring the project from the start. The amount of money already embezzled out is an insane $68 million USD (!) worth, with a further $47 million USD held still as Safemoon in these unauthorized accounts.
In further drama, the Safemoon devs planned to release the "Safemoon Wallet" app today. I don't know what implications this would have had, given that you can already buy and sell the token, but apparently this was a big deal and a lot of people on reddit were really hyping it up. Perhaps this was going to be the ticket to the mainstream that finally made it "moon". Anyways, the time came and no app was released. In statements, the Safemoon team claims variously that it was prevented by their website being down because of the massive traffic this release was causing, and because of technical issues preventing them from releasing simultaneously on all the app's platforms.
Now I don't really think this wallet is any technological innovation, so it may be equally possible that there actually is a wallet and there really were unexpected delays, as it is that these devs couldn't code at any level higher than the webdev needed to sell this shit to redditors (it's https://safemoon.net/, and apparently they advertise an official Minecraft server????? is this really where we are as a society??).
Large numbers of redditors are currently in states of rage/denial/smug superiority on subreddits such as r/SafeMoon, r/SatoshiStreetBets (which has been constantly full of shills for this shit), r/SafeMoonInvesting, and probably others.
I enjoyed reading this post: https://old.reddit.com/r/SafeMoon/comments/pdgu9t/all_the_diamond_hands_that_havent_complained/
The price has of course taken a nice drop as whales sold off their coins. But being down only 15% is basically normal for crypto, so we will just have to wait and see if this is actually the end or if people somehow keep believing. Fingers crossed for further drama, ofc.
edit: Some other pdf details more problems with the coin, apparently it didn't even do what it was supposed to do properly lmao: https://notsafemoon.com/new/public/docs/MoonCoinsTA.pdf