Franck Leroy

Exactly 14 years ago , Satoshi Nakamoto designed the most pathetic / inefficient system ever invented by humankind : the blockchain. Today, it weights 60 000 tons, wastes constantly 10 gigawatts (more than Belgium or Chile) to process less than 7 transactions per second : Less than a 33 bps modem from 1990. This could be a joke if it didn't have such gigantic environmental impact, wasn't enabling billion dollars ransomware industry and was not crushing thousands of lives in the process.

It was stored on a cold wallet. He lost everything: $3.5 million. Let 2023 be the final death of this giant scam.

@tob indeed. typical case of POC of the intern that get pushed to production before being tested.

@JorgeStolfi@mas.to This hacking does indeed bear the mark of the revenge of the pedo satanist elite.

@bumi@kosmos.social bitcoin is insecure by design. No accountability = you lose everything and noone is responsible Immutable means = you cannot reverse error / fraud. This whole blockchain thing is stupid as fuck.

@pinky@coredump.social Bitcoin *was* not compromised. Bitcoin *is* the compromission. It is insecure by design, because you can't expect random people master infosec (and not lose / forget their keys). Immutability is not a feature, it's a bug / a core design flaw.

@bumi@kosmos.social exchange platforms are part of Bitcoin core : they enable it to work somehow because it does not scale properly. Any failure of an exchange platform is a failure of the whole bitcoin project. TBH I first cared much about the insane environmental impact before I discovered how this space was filled with scam and crushing thousands of lives. that's a disaster.

@bumi@kosmos.social We don't know. he would risk the FUD on the project he works on ? Anyway, if it's true. This proves than even the core devs can't keep it safe. It can't be adopted by the masses. putting your life saving such an insecure asset in completely nuts.

@kittylyst @Setok But what about ... "Code is law"

@RAOF@toot.cat @bumi@kosmos.social Also it enabled a multi billion dollar industry of ransomwares to flourish, puttingl key infrastructures (like hospitals!) at risk.

@bumi@kosmos.social "it means also I don’t need to trust or rely on anybody." This whole libertarian spirit is lovely.

@Setok @aaronwinstonsmith Of all the crypto projects I found, Duniter / G1 seem the only one with good values : based on web of trust and universal dividend : https://duniter.org/

@Setok @aaronwinstonsmith ... there are still rules, control based on human moderation, ban of bad actors, etc.

@levampyre@chaos.social @bumi@kosmos.social amen !

@pinky@coredump.social I believe that whether he says the truth or not, this affects (a lot) the tale of Bitcoin being a "safe" store of value and the mojo: "your keys, your coins".

@pronoic@hachyderm.io @RAOF@toot.cat @bumi@kosmos.social Indeed, much like rapists force girls to invest in self-defense classes.

@pronoic@hachyderm.io @bumi@kosmos.social @RAOF@toot.cat GHB

@bumi@kosmos.social all the problems of bitcoin derive from :

• shitty ideology
• shitty design https://medium.com/crypto-lucid/decentralized-trustless-debunking-bitcoins-biggest-myth-8ea8a27197e2

@bumi@kosmos.social @levampyre@chaos.social Do you realize how it is the exact opposite of Bitcoin ?? Proof of Waste consider energy and devices as infinite resources that we could burn for the sole purpose of validating transactions ! It totally ignores the physical limits of this world.

@bumi@kosmos.social @levampyre@chaos.social Taxation was fine during the 20th century, USA had tax levels up to > 90% for the richests by then. Since then, we've let billionaires get more and more rich and rule the world. States could split those large companies with anti-trust laws and get them for pay fair taxes. No technology will solve this. That's a political question.

@bumi@kosmos.social @levampyre@chaos.social Indeed, soory about that, I'll try to behave.

@bumi@kosmos.social @levampyre@chaos.social Bitcoin currently negates the CO2 savings of all electric cars on earth ! The surge of ASIC devices also played a key role in shortage of silicium last year. Bitcoin is the first invention in human history to be designed to be *resistant* to any future technological progress. That's just insane and the exact opposite of what we need.

@bumi@kosmos.social @pronoic@hachyderm.io @RAOF@toot.cat The logic is exactly the same.