Bitcoin / Bitcoins / Crypto Currency

I had a dream once where someone discovered a flaw in ECDSA and was able to randomly wipe out any bitcoin wallet they wanted (by transferring the contents to an irretrievable address).

It started off with the protagonist trying it out with small long-dormant addresses, before moving on to bigger and more recently active wallets. Eventually there was enough "WTF" and enough panic that the BTC price started to crash but was bolstered by algorithmic trad-fi hoovering up what was thought to be cheap BTC, unaware of the underlying problems. I'm sketchy on the ending.

In my brain the dream played out like a sci-fi movie, although also felt like some bits I was reading it in a book. Think a mixture of Sneakers and Cryptonomicon.

I blame cheese.

That's a pretty cool dream

If you're a nerd.

Would rep

Just another $623m purchase today by microstrategy

I can’t figure out if some of the posts on this the last week are parody.

User Hippy definitely spent some time at the rubbish tip though.

Just another $623m purchase today by microstrategy

And it's taken them to over 1% of the total supply of BTC. The guy's a madman.

I did actually, when I was a kid. Used to find all kinds of cool shit there. Spent my weekends pulling apart cassettes players and doing stuff with their motors. Back then you didn't have to suck dick to get in though, just drive up with a trailer-load of junk and then wander around.

Is hippy buying the dip?

Same here as well, used to love trips to the tip when I was a kid!

My uncle used to be an expert at tip salvage. The first bikes I rode were ones that he found there and fixed up. I still remember a couple of them, they had real personality, even if the brakes were a bit iffy!

I hope they don't lose their pen drive.

Seriously tho, how do you make sure those bitcoins are secure? Do they put it into some kind of trusted institute or hold them themselves. Is it insured? How do you manage the corp risk of it all disappearing?

I imagine that if I was the CFO I'd be having stress dreams that I left my password on a postit on my screen.

There are fairly sophiticated security solutions for self custody, Gnosis Safe being one, they must have enterprise versions available.

Pffft! Details, details.

The whole point of btc is agency and autonomy.

If you can't secure your btc yourself you have no business owning it.

Likewise if you can't protect all of your devices yourself from all forms of malicious attack you shouldn't own it.

And if you can't underwrite it, or your losses yourself you shouldn't own it.

Nor should you own it if you can ensure all hardware is 100% reliable.

Basically it's only really useful for North Korean hackers steeling it from others and converting it into contraband.

25 years for SBF.

I mean 25 for 14 billion is no bad

Not quite.

"Judge Kaplan also ordered a forfeiture of $11.02 billion. He ruled Bankman-Fried's forfeited assets can be used to help fund the repayment of victims of the FTX collapse."

Aye but how much is hidden away for when he comes out in years. You can bet he’ll never have to work again.

I'd rather have my freedom from the age of 32-57 tbh

Not sure what happens in America, but I am reading a book about Irish criminals at the moment and one was jailed without revealing where his millions were stashed and when released he was subject to an order that forbids him from owning any asset worth more than €1000 (for life I think)

I do agree, but these guys are flying close to the sun. Eventually you get burnt!

Ooooor

You could've been less of a dick.

You're a nice guy, not sure why you've taken agin (or whatever the saying is)

My morality would take a real good testing if I'm ever in the position to have 15 billion pounds in my pocket tbh