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The day has come.

Enter a thread on isogenies, random walks and automorphism groups.

🧵👇

(0/n)

I will explain some of the background we used to write these papers with Ben Smith, so I encourage you to go read them. There are some results at the end of the thread


The main objects in isogeny-based cryptography are elliptic curves and isogenies, usually defined over finite fields. And, of course, isogeny graphs.

(2/n)

You might want to read about elliptic curves


First of all, an isogeny is a nonconstant morphism of elliptic curves fixing the point at infinity.

So it is a group morphism, a morphism of algebraic curves, it is surjective, and it has finite kernel.
To those saying that those who have got their public health advice wrong earlier in the pandemic should put up their hands and apologise... a little cautionary lesson from another sector

A short 🧵

1/

Public health is not my thing

But Brexit is

And throughout 2019 and 2020 I have been trying to make predictions as to what will happen in that story. Lives do not depend on this, only my professional reputation (marginally) does

2/12

The three series of #BrexitDiagram I made in 2019 were extraordinarily accurate

Series 1/2
https://t.co/wOSzIXxJ2M

Series 3
https://t.co/E4fKeGoa5n

Series 4
https://t.co/yRsQ8mLGj1

Each series got that stage of Brexit right

3/12

The 2020 series was nowhere near as good - at one stage I had No Deal Brexit at 78% chance in early December - and that was not what

I own this error - I was wrong

I know *why* I was wrong - I thought the European Parliament would fight more on Provisional Application, and I thought agreeing everything in a week wouldn't work. I wasn't right

The Manston crisis / borders closing changed something too

5/12
Now a £35M cap, a fortnight on

It's one of those small UK if-it-were-listed-in-the-US companies. Bidstack #BIDS and it puts advertising into major online games

It's rocketing - and there are some grounds to think that in quite short order it may be about to turn into a firework


"May" and also:

- history of over promising and disappointing
- very much a AIM small cap
- burns cash
- will place and dilute
- has share price on homepage
- Glassdoor is not great
- emoji issues when discussed

*But* it may now be delivering for real. If so it may also be extremely cheap. How cheap?

20H1 was 2x sequentially and 10x YoY

It may be about to report H1-H2 sequential growth of 5x.

If so, FY20: 10x YoY.

Fwd 21 rev multiple? Perhaps half that number, perhaps even less.


I need to explain in some detail what they do because it's necessary to understand it to gauge not only the opportunity but also the risk - and also to be able to translate aspects of what the company put out in their releases. The juicy stuff comes after.

As simply as I can: Bidstack provide a SDK (software developer kit) to games companies: so far Sega and Codemasters

The SDK allows companies to create areas in their games where adverts can be placed by Bidstack.

The ads appear within the fabric of the game, natively