Thursday October 6, 2016
Due to the nature of the New York Bitlicense, buying Bitcoin can result in physical harm. This war on Bitcoin has resulted in a significantly less cash deals occurring, funneling users en masse to KYC checkpoints. Cash deals now require a significant amount of trust, but allow for extraordinary financial empowerment if due diligence is applied correctly.
Each tier of trapping has different caveats, but similarly aligned strategies. They all aim to preserve anonymity and incentivize recurrent relationships to develop trust. All scenarios require a TRB node to generate addresses with funkenstein’s import/export privkey patch applied.
Thursday September 15, 2016
After talking with mod6 on IRC a lot, he recommended I listen to Young Jeezy, stating, “Jeezy changed my life.” This was back in 2013, so I started listening to some Jeezy, from Trapstar on Thug Motivation 101 (TM101), to the more recent Put On. Inevitably, the words of Jeezy changed my life as well, and the realization of the sheer amount universal street wisdom in his recordings taught me valuable lessons.
Well fast forward to 2014. Jeezy releases the single Holy Ghost which would appear on his album The Autobiography. This single is probably one of the most important Jeezy tracks I’ve ever heard, it talks about the fleeting nature of success, and the tragic sacrifices one must make to achieve greatness.
Thursday August 11, 2016
Delusional consumers in revolt of the mass adoption variety, often utilize pseudoscience to advance their agendas. Voices have formulated pseudoarguments in such quantity it has become a disservice to the endearing novice seeking actual education. One of these psuedoarguments involving the debunked Metcalfe’s “Law”, has resulted in an endorsement of scamming. Hopefully, showing the failed application of this pseudoscience in Bitcoin, will allow for the endearing novice to understand the dangers of becoming too friendly to scammers.
Now for the pseudoscientific argument:
Well, I wasn’t the first one who said that. I[t] was some guy named Metcalfe. And as I already mentioned, “Metcalfe’s Law” has functioned pretty good up until now for Bitcoin – showing that, yes, more people does mean more value – despite the fact that you for some reason refuse to believe that.
Building policy around this logic in Bitcoin will inevitably lead to an influx of scammers that prey on weak novices. Unfortunately many have placed confidence in this flawed advice.
Wednesday July 27, 2016
A scam is a scam by any other name, and unfortunately the Ethereum Central Bank fully endorses and runs on scams to keep ether huffers addicted. The company behind The DAO fiasco, Slockit, is one of core hype units for the Ethereum bubble. Their promise of their so-called “Slock” has investors drooling for no reason other than use of the word “blockchain” in the description. The DAO fiasco proves Slockit is ignorant of scammers to the point of enablement.
Usually when one doesn’t acknowledge the existence of scammers in relation to a business model, the business itself usually unfolds into a scam. The government’s solution to scammers is retroactive coercive force – putting one in prison for fraud after the fact. Bitcoin facilitates a mindset where one honors contracts because it’s the right thing to do, while acknowledging the existence of, and identifying scammers without the use of coercive force. As with children and their parents, trust must be earned. When one knows what a Web of Trust is and how it works, scammers are caught in a self-imposed filter, while building relationships with trustworthy peers over extended periods of time – business as usual. Read more…