BC CRYPTO
Saved by @Mollyycolllinss

Read the SEC Complaint against Ripple. It’s bad for XRP and for all crypto, except BTC. It’s bad for XRP because it alleges all XRP are *at this very moment* securities in the US, not just the XRP Ripple allegedly bundled into an investment contract. 1/n

 Ironically, that would mean XRP can’t be used by anyone for any purpose *other than* speculation on Ripple’s success in the US. Go figure. The XRPL is a fully functioning network. I’ve used it to send value between exchanges to cash out in AUD through an ODL exchange partner. 2/n
It takes all of 30 seconds for the money to arrive in my bank account. It is a wondrous experience. At no time did I think I was purchasing a speculative investment product. Yet the SEC alleges that is exactly what I did. 3/n
To the SEC, all holders and sellers of XRP are holding and selling an investment contract issued by Ripple. This shows how useless their previous guidance has been. Here, a digital asset on a fully mature network is a security for everyone because… well, just because… 4/n
This case probably can’t settle. If XRP is a security it can’t comply with security laws *and* be used for any purpose by anybody except for speculative financial gain at the hands of the company that can’t use it to generate value for anybody because its a security. Nuts. 5/n
So, catch 22. For XRP to move value it must have value. The more value the better. That self-evident fact becomes an expectation that Ripple’s efforts will increase the price because using it and making it valuable are the same thing. 6/n
The XRP Community has long debated the chicken/egg nature of XRP use vs price. The SEC answer is neither the chicken nor the egg should exist. There’s only an unregistered duck. Hand your money to the shorts… (proving not all users expect profit from Ripple’s endeavours) 7/n
It is bad for crypto because it introduces a wholly new unspecified standard for treating a native token of a functioning network as a security based upon the use made of that token by one member of the ecosystem. 8/n
Most projects sell tokens in functioning networks to fund ecosystem activities. There appears no reason why these entities are not also selling securities in the SEC’s view. Especially if there is initial VC investment, IMHO. Why invest except in expectation “number go up”. 9/n
The complaint is loaded with allegations about behaviour that is unlawful in respect of securities, but light-on about why all XRP are securities. Sure, there is information asymmetry. But information asymmetry alone shouldn’t create an investment contract relationship…10/n
The complaint is actually very hand-wavy on the key legal issues that everyone will want resolved. The two key ones are nature of the "investment contact" relationship and the definition of the "common enterprise". 11/n
Relationship: Everyone says Howey has four tests, but really there are five. 1) Contract arrangement or scheme 2) investment of money 3) in a common enterprise; 4) with expectation of profit; 5) through the efforts of others. 11a/n
Everyone overlooks 1) because until blockchain there was always a counterparty. But in decentralised networks, who is the counterparty? What is the nature of that relationship that gives rise to an investment contract? All crypto needs to know. 12/n
When does owning a token on the same network give rise to a contract, arrangement, or scheme between two strangers, one of whom is trying to make valuable use of the token, and the other of whom just happens to believe they will succeed? 13/n
Common Enterprise: The second, related problem, is what is the common enterprise? Is it Ripple’s business? The XRPL? Are validators included? What degree of decentralisation is necessary for the code-enforced collaboration between strangers to not be a common enterprise? 14/n
The wake up call for crypto is that having a fully functioning network is no protection. Every chain with a Foundation with a genesis stash of tokens to raise funds to develop/give value to the network is at risk. The SEC guidance is less than worthless, excluding BTC. 15/n
The wake up call for the XRP Community is that Ripple’s efforts may have been less successful than assumed. The lack of regulatory clarity in the US has been crippling. There has been no real price discovery for xrp. Almost everything you see is speculation, not adoption. 16/n
My bet is this will be a long and existential battle, absent legislative intervention. I don't see the path to compliance that would involve a wrist slap and a clean launch pad for the future. The security designation is a killshot, not an inoculation. 17/end

More from Crypto

Hamza
Hamza
@hamzanitoo
1. Last week, @robbietilton sold this art piece for about 17305$ on @withFND.
I saw a lot of people asking questions on CryptoArt and NFTs (Non-fungible token) to understand how it works. I'll try to explain the basic concepts on this thread ↓


2. First, you don't directly buy the art piece, you buy a token. This token is what holds the asset that you're buying, it is a unique id that is used to represent what you bought. It can hold information like the name of the asset, an URL, a description, and so on.


3. On most marketplaces, you won't have a classic signup or login form when you'll want to create an NFT or buy one. Instead, it will be asked to connect your crypto wallet.

4. Now, why bother with a crypto wallet? Couldn't we just do an app that works with dollars? This is where things get interesting: when you buy an NFT, the data is not stored on the marketplace servers.

5. When you post a picture on Instagram, it is stored on their servers. If the app is shut down, your data might be deleted. But also, Instagram could delete your content if they want to, NFTs works differently.
CRYPTO
V.H.
V.H.
@Varg_88
Lots of people are sleeping on one the biggest things @quant_network is currently involved in-ODAP (Open Digital Asset Protocol).

So what is exactly #ODAP and why this makes $QNT one of the most significant and, regarding #crypto mcap, undervalued projects?

Time for a THREAD⬇️


1/ODAP is the protocol for communication between gateways, primarily with an enterprise focus.
So banks, central banks etc. would run a gateway in Overledger Network and ODAP would be the protocol for gateways to communicate with each other in a secure and trustless manner. $QNT


2/ #ODAP Interfaces are the open source connectors that will connect a gateway to #blockchains and any existing network / API. That is based on the standards from work done at ISO TC 307 which 57 countries are working towards.
$QNT CEO Gilbert Verdian is the founder of TC307.


3/We know from the submitted drafts via #IETF (the Internet Engineering Task Force) $QNT is working on #ODAP with:

✅@MIT

✅@intel

but, there’s more to the story as we found out from Gilbert that US Government, Juniper, payment and telecom companies are also there.


4/So how it all started with #ODAP?
Let’s go back to $QNT CEO Gilbert Verdian’s interview with Santiago Velez on #RealVision (October 14th) and try to put all the pieces of the puzzle together.
I’ll forward his words ⬇️
CRYPTO
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Sahil Bloom
Sahil Bloom
@SahilBloom
Lindy Effect 101

With Bitcoin's return to the spotlight, debates on its long-term viability are raging. Its proponents contend @nntaleb's Lindy Effect says the technology is here to stay.

But what is the "Lindy Effect" and how does it work?

Here's Lindy Effect 101!

👇👇👇


1/ First, a few definitions.

The Lindy Effect is a theory that the future life expectancy of specific non-perishable items, like a technology or idea, is proportional to their age.

Put simply, the longer it has already lasted, the higher the likelihood it will continue to last.

2/ The term "Lindy effect" is a reference to Lindy's, a New York deli frequented by comedians in the 1960s.

While author Albert Goldman used the term "Lindy's Law" in a 1964 article, it was mathematician Benoit Mandlebrot who moved the dialogue towards the current definition.


3/ In his book, entitled The Fractal Geometry of Nature, Mandlebrot commented that the more stage appearances a Lindy's comedian made, the more future appearances he could be predicted to make.

The longer he lasted, the longer he would continue to last.

4/ @nntaleb built upon Mandelbrot's work, formally coining the term "Lindy Effect" in his book, Antifragile.

He noted the Lindy Effect with books - the longer a book has been in print, the longer it is likely to survive.

With no natural upper bound, power laws come into play.
CRYPTO
Luke Huizenga
Luke Huizenga
@huizengard_
[BIG THREAD] BitChute is a video-sharing site growing in size after an exodus of upset conservatives from YouTube. Like similar “anti-censorship” platforms, it also is riddled with a disturbing amount of hateful content and blatant disinformation.


Around the time of the Capitol riot, interest in BitChute skyrocketed. It continued to rise as Donald Trump’s channel had videos removed, was suspended, and then finally banned. Although he has yet to arrive on BitChute himself, his followers have moved on from YouTube.


BitChute founder Ray Vahey has called the platform “pro-free expression”, accusing sites that censor their content as building echo chambers that serve only to exacerbate problems. What he fails to recognize is that his own creation has become one itself.


wo massive trends on BitChute are anti-Covid vaccine and pro-Nazi/anti-Semitic propaganda. Both break the site’s Community Guidelines. Below are examples of easily accessible and highly-viewed videos. Bear in mind the medical advice is harmful and the Nazi content is disturbing.


First, the anti-vax disinformation. “Timmy Learns About COVID Vaccines”. Safety precautions are called “enslavement” and “extortion”. Over 5k views.
CRYPTO
\U0001f42e Mikko Ohtamaa
🐮 Mikko Ohtamaa...
@moo9000
1/ Welcome to #DeFi Wednesday.

Let's talk about how interest-bearing cash on a blockchain is going to revolutionise boring corporate treasury management that concerns every company is is a larger business than all crypto trading in the world.

Enter the thread

👇👇👇


2/ Blockchain community is often seen as toxic maxis and redditors who shill other their weekly favourite shitcoin in the hope of getting Lambo.

Sometimes we also do things that progress humanity towards the better future and interest-bearing cash is one of those things.


3/ Less chad and more things that actually matter:

My incomplete theory of interest-bearing cash is also available also as a blog post:

https://t.co/uiG0fZiVyu

It is 15 pages. Pick your slow poison or die fast by continue reading here.

4/ First time in the history we have an ability to create interest-bearing cash-like instruments.

Interest-bearing cash ticks up dollar (euro) balance real-time in your wallet.

Here is a demonstration using @aaveaave aDAI, based on @makerdao DAI, and @TrustWalletApp


5/ Interest-bearing cash is not like your bank's saving account. Your money in a bank is not yours, but bank's. There are some flaws in the current banking system causing a headache for Chief Financial Officers (CFOs)
CRYPTO

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Scientists of the modern world credit an English scientist John Dalton (1766 CE -1844 CE) for the Atomic Theory.


And this is because, most of us are not even aware of an ancient Indian Sage named Kanada, who was the first to formulate the theory of atoms, almost 2600 yrs before Dalton and talk about earth's gravity.


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THE MEANING, SIGNIFICANCE AND HISTORY OF SWASTIK

The Swastik is a geometrical figure and an ancient religious icon. Swastik has been Sanatan Dharma’s symbol of auspiciousness – mangalya since time immemorial.


The name swastika comes from Sanskrit (Devanagari: स्वस्तिक, pronounced: swastik) &denotes “conducive to wellbeing or auspicious”.
The word Swastik has a definite etymological origin in Sanskrit. It is derived from the roots su – meaning “well or auspicious” & as meaning “being”.


"सु अस्ति येन तत स्वस्तिकं"
Swastik is de symbol through which everything auspicios occurs

Scholars believe word’s origin in Vedas,known as Swasti mantra;

"🕉स्वस्ति ना इन्द्रो वृधश्रवाहा
स्वस्ति ना पूषा विश्ववेदाहा
स्वस्तिनास्तरक्ष्यो अरिश्तनेमिही
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It translates to," O famed Indra, redeem us. O Pusha, the beholder of all knowledge, redeem us. Redeem us O Garudji, of limitless speed and O Bruhaspati, redeem us".

SWASTIK’s COSMIC ORIGIN

The Swastika represents the living creation in the whole Cosmos.


Hindu astronomers divide the ecliptic circle of cosmos in 27 divisions called https://t.co/sLeuV1R2eQ this manner a cross forms in 4 directions in the celestial sky. At centre of this cross is Dhruva(Polestar). In a line from Dhruva, the stars known as Saptarishi can be observed.
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Dr Amanda Moehring
Dr Amanda Moehring
@FlyBehaviour
In Academia, people aren’t always supported when they need it. I want to share what @WesternU did when my husband died right after the pandemic shutdown. It should be shared with other uni’s as a model for empathy and proactive care when someone is in crisis.
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#AcademicChatter
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Danielle \U0001f1e7\U0001f1f4
Danielle 🇧🇴...
@dinkydani21
❤✈️🌎 2 years ago today @JamesIvings and I sold all our belongings and left the UK to travel for a year. We've never been happier and we have no plans to ever return there 🙂

Thread 👇

Since then we've started a remote web dev company @SquarecatWebDev and been lucky enough to have completed several freelance projects 💻 that have kept us on the road.

In the last few months we've become a huge part of this amazing new Maker community and have found so many new friends from @makerskitchen, @women_make_ and several others! 🥰

We love travelling together (even if I'm only a glorified laptop watcher 😒) but we're both much happier being able to share our ideas outside of our own little bubble and our products have benefitted too!

Here's to another year of nomading with my favourite person and to the Maker community continuing to grow with our help! Maybe one day we'll all get to meet each other ✌️ 💛
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Daoyu
Daoyu
@Daoyu15
@franciscodeasis https://t.co/OuQaBRFPu7
Unfortunately the "This work includes the identification of viral sequences in bat samples, and has resulted in the isolation of three bat SARS-related coronaviruses that are now used as reagents to test therapeutics and vaccines." were BEFORE the


chimeric infectious clone grants were there.https://t.co/DAArwFkz6v is in 2017, Rs4231.
https://t.co/UgXygDjYbW is in 2016, RsSHC014 and RsWIV16.
https://t.co/krO69CsJ94 is in 2013, RsWIV1. notice that this is before the beginning of the project

starting in 2016. Also remember that they told about only 3 isolates/live viruses. RsSHC014 is a live infectious clone that is just as alive as those other "Isolates".

P.D. somehow is able to use funds that he have yet recieved yet, and send results and sequences from late 2019 back in time into 2015,2013 and 2016!

https://t.co/4wC7k1Lh54 Ref 3: Why ALL your pangolin samples were PCR negative? to avoid deep sequencing and accidentally reveal Paguma Larvata and Oryctolagus Cuniculus?
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