Meh, the exchange is not part of that trustless system, and ironically, you got it backwards. It was only by trusting the exchange that this happened. If people had followed "not your keys, not your crypto", they'd be fine.
But isn't that the point? These exchanges keep popping up because financial systems are complex and the actual currency is only a small part of the whole. The utility of a naked cryptocurrency, as has been shown by its adoption in its pure "not your keys, not your crypto" form, is weak, and traditional financial structures keep getting recreated around them, just without all the hard lessons learned about how such structures need to be regulated.
I won't argue that. The problem is the same as it's always been... lack of transparency, lack of oversight, too much money and naked greed. Combine that with little to no regulation, and technology that hardly anyone really understands, and it's the wild west selling snake oil with promises of getting rich quick.
To be clear, I'm not one of these defi zealots who think crypto is god's gift to finance and will save us from the man. I do believe it has some real, actual uses that make some things better. For instance, some associates of mine just did an international clearing system, based on public blockchain, approved by and regulated by the OCC. This is an instantaneous competitor to SWIFT banking protocols, that require no counterparties or collateral, due to the fractional deposit nature of their settlement tokens. They just did their first public transaction a couple weeks ago. It's a huge improvement over the current Basel certified processes in place for international central bank clearing.
Blockchain has an amazing amount of potential applications, cryptocurrency is just one of the shittiest ones. Obviously none of that is news to you, but I hope this doesn’t put a damper on the whole concept in general because like you said, it’s beyond the general public’s comprehension at this point.
Related to this, one of the engineers from the prior post got fired, and shut down her Twitter (despite being a super senior engineer at twitter) her Medium (despite being a former lead at Medium), and her LinkedIn. Definitely received a shitload of inbound harassment after Elon tweeted about her firing.
He's being a real cunt these days. And every lawyer around is lining up to represent her and she will make bank from the pending lawsuits against him. Doesn't mean I don't feel badly for her, or that it excuses his shit behaviour in any way, but at least there's going to be a silver lining for her, I'm sure.
Based on her bio she's not just employable in the way that most competent engineers in the valley are employable, but is employable in the "can name the company and they'll create a role for her" way, even before this mess. She's on the governing board and the technical steering committee of GraphQL.
Here's an interesting coincidence. If you were, for the sake of argument, a vodka-soaked member of the Russian military, with orders to attack Kyiv and Lviv with missile strikes. And you, being vodka-soaked as you are, mixed up the targeting coordinates, inputting the latitude of the Kyiv target, but the longitude of the Lviv target... you would end up blowing up a small farm just over the Polish border. If shit pops off over a mistake that stupid, God is truly fucking with us for the lols.
Don't be like Larry! https://www.google.com/amp/amp.awfu...rry-david-super-bowl-commercial-funniest.html
The fact that Poland didn’t immediately mobilize probably means that US intelligence stepped in and told them it legitimately was an accident. Having grown up around relatives of that lived in Poland, anecdotally, these people don’t need a lot of motivation to go kill Russians.
I mean....I fail to see how "accident" is any better? I'm curious what the response will be, as was mentioned....Poland is a member of NATO.
Probably nothing. I doubt NATO activates Article 5 over a shitty missile. If Poland wants to step into the war, they’ll do it on their own.
The head of NATO did follow up that Russia still bears the ultimate responsibility. That said, other than some rhetoric statements any further response is doubtful. The surface to air (SAMs) Ukraine likely used are also Russian and travel at multiple Mach. The missiles Russia launched also likely travel at similar speeds. At those speeds, 15 miles is nothing. Depending on the altitude of the intercept, debris could easily travel that distance before hitting the ground.
He said no, and yet still caught the blowback: https://www.reuters.com/legal/ftx-f...ver-yield-bearing-crypto-accounts-2022-11-16/