July 2022 - cypherpunks@lists.ogf.org

Framing in criminal investigation: How police officers (re)construct a crime
by Gunnar Larson 19 Oct '22

19 Oct '22

Really found this essay on framing, deframing and reframing to be refreshing. Sometimes, when innovation happens it takes time for important parties to frame the internet and decifer if any potential criminality is cause for concern. Deframing and reframing are natural products of evolution. Innovation happens with reframing... like it or not. Check out 39 highlights on the subject here: https://drive.google.com/file/d/1iDHmDQuaN3JDcaTDnDhkdVyacYXiONDz/view?usp=…

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xNY.io - Bank.org | DOJ Memo #4 - Goldman Sachs Deferred Prosecution Agreement
by Gunnar Larson 19 Oct '22

19 Oct '22

https://drive.google.com/file/d/1pwysH05O9rlrFVs_w1Jq3EiQdBoktCtt/view?usp=… March 10, 2022 BY ELECTRONIC MAIL Mr. John Marzulli United States Department of Justice Eastern District of New York 271 Cadman Plaza East Brooklyn New York, 11201 John.Marzulli(a)usdoj.gov Re: Memo #4 - Goldman Sachs Deferred Prosecution Agreement Dear Mr. Marzulli: The Department of Justice has yet to respond to Memo #1, Memo #2 and Memo #3 with our recent inquiry to the 1Malaysia Development Berhad Deferred Agreement. Goldman Sachs' Deferred Prosecution Agreement <https://www.justice.gov/usao-edny/pr/goldman-sachs-resolves-foreign-bribery…> with the United States of America is in potential breach, with ethical enforcement being concerned. Memo #4 aims to associate the malfeasance in Malaysia with war crimes of aggression (in the planning, initiation, or execution of a large-scale and serious act of aggression), leveraging the world’s only military divided capital city Nicosia, Cyprus. 1. Additionally, Memo #4 aims to earn the DOJ’s assessment of New York State’s regulatory marketplace manipulation deriving the war crime against peace, related to the planning, preparation, initiation, waging or participation in a common plan or conspiracy related to a war of aggression, which can only apply in relation to international armed conflict. 2. In this case, the first challenge is to observe and consider the simple idea that the DOJ’s Deferred Prosecution Agreement with Goldman Sachs alone, through means of regulatory arbitrage naively fails to recognize the ‘cause and effect’ relationship at play at the inception of Memo #4’s assertion of war crimes. 3. Even with the best of intentions, perhaps unknowingly the DOJ may be amplifying the effect of potential war crimes by indirectly supplementing the root cause of the problem and financial model of the Deferred Agreement being self-policing. Mr. Marzulli, there has been an active United Nations peacekeeping mission in Cyprus since the 1964 Turkish military invasion and occupation of the northern third of Cyprus. Only Turkey recognises the Turkish Republic of Northern Cyprus, while there is broad recognition that the ongoing military presence constitutes occupation of territories that are under Turkish military control. - The graduate education behind Memo #4 is a product of the University of Nicosia’s (UNIC) main campus, located adjacent to the United Nations Buffer Zone that separates the invaded Turkish Republic of North Cyprus and the Republic of Cyprus, which joined the European Union in 2004. - Memo #4 is also a product of United Nations consultancy, based at its Manhattan headquarters, where (today, what is now xNY.io - Bank.org) was credited with increasing the breadth and accessibility of reference content from the world’s most important multinational organization. - Memo #4’s subject of war crimes has preeminent association with such projects as the Audio Visual Library of International Law. Over the following sections, Memo #4 will provide a detailed timeline that would constitute real concern of the war crime of aggression yielding the war crime against peace in active war conflict in the world’s only military divided capital, funded from Manhattan Island. The Bank of Cyprus and Illegal Short Selling Irregularities of Turkey’s Markets Mr. Marzulli, turn this matter as we will, and look at it from any side whatsoever, and it presents the appearance of a cross-border act of aggression. Goldman Sachs’ potential disrespect to the Deferred Agreement’s core values has cultivated new crimes that aim to manipulate cross-border war crime regulatory frameworks. - On April 02, 2021 the Financial Times reported that Turkey fined Goldman Sachs over alleged irregularities in short selling, just a week after foreign investors pulled $1.9B from the country’s stock and bond markets. Turkey’s Capital Markets Board said that Goldman Sachs was among 10 securities firms that had placed orders for short selling without proper notification, violating rules enacted previously that temporarily prohibited such transactions. - On April 20, 2021 the CyprusMail (Cyprus’ only English Language daily newspaper) reported Goldman Sachs International acted as Global Coordinators and Dealer Managers in a $330M bond issuance for the Bank of Cyprus. Given the active military conflict in Cyprus, Memo #4 notes that there is one place on the planet you are not supposed to do this sort of thing. Furthermore, the DOJ’s Deferred Agreement with Goldman Sachs may have been tainted with the potential war crime of aggression, risking international peace and the lives of United Nations peacekeepers, while jeopardizing the United States of America’s financial security. Concern of New York Prime Bank Instrument Fraud and Marketplace Manipulation The United States Department of the Treasury warns that Prime Bank Instrument Fraud schemes have attracted significant international attention, since individuals and organizations have lost billions of dollars worldwide. "Prime Bank Instrument Fraud" is the general term given to prime bank fraud schemes that go by many different names. During April 2021, Goldman Sachs could not in good faith (and, plausible deniability) make any reasonable claim of holding a pristine relationship with Turkey’s Central Bank or with Cyprus’ largest financial institutions, given the 1Malaysia Development Berhad scandal and then pending Deferred Prosecution Agreement with the United States of America. - Memo #4 suggests that Goldman Sachs developed a Prime Bank Instrument Fraud program to level out yo-yo market dynamics caused by failed marketplace manipulation exercises in Turkey and Cyprus. - Systematic bank fraud and/or marketplace manipulation of any kind between Turkey and Cyprus could constitute the war crime of aggression. - Furthermore, Memo #4 argues that Goldman Sachs may have tried to bambooze governments in New York, Cyprus and Turkey through regulatory arbitrage loopholes, while Goldman seemingly may have not considered the totality of such actions as war crimes. Turkey has the highest inflation in Europe. It has the second-highest rate of inflation among emerging markets, just behind Argentina. It has the 13th highest inflation rate in the world, ranking it between South Sudan and Nigeria. After Goldman Sachs was fined for illegal stock and bond market short selling by the Turkish government, logic would argue further malfeasance potentially could have been avoided by the DOJ’s 1Malaysia Development Berhad investigation. - On April 15, 2021 CNBC reported that Goldman Sachs (note, the previous section’s milestones of April 02, 2021 and April 20, 2021) crucially removed its bias toward Turkey tightening interest rates. Goldman issued guidance highlighting the fact that the bank thought that, “…the removal of the tightening bias against rising inflation expectations suggests that the TCMB (Turkish Central Bank) now has a more dovish reaction function.” - On August 14, 2021 the CyprusMail reported serious concern among economists about data reporting from the Turkish Statistical Institute. Ahmet Takan, a former official with the office of the Turkish prime minister, acted as a whistle blower, warning that Turkey potentially was manipulating inflation data. - On September 1, 2021 Reuters reported that Goldman Sachs hiked Turkish growth forecasts. Goldman economists issued guidance stating, "Overall, the Turkish economy has been able to grow faster than we thought without a deterioration in its external balances, as the pickup in foreign demand has been very supportive." - On November 30, 2021 Reuters reported that Goldman Sachs trimed Turkey’s 2022 growth forecast. Goldman Sachs' Murat Unur stated, "We think that the GDP figures released today tell us little about the pace of economic activity going forward as the recent sell-off in the Lira is likely to impact economic activity significantly" Mr. Marzulli, the DOJ’s Deferred Prosecution Agreement with Goldman Sachs was signed on October 21, 2021. The timeline of events above do not coincide with terms and conditions of the Deferred Agreement mandated by the United States of America. Furthermore, as an international graduate scholars of the world’s only military divided capital on the planet, xNY.io - Bank.org should be protected from any association of crimes against peace, related to the planning, preparation, initiation, waging or participation in a common plan or conspiracy related to a war of aggression, which can only apply in relation to international armed conflict. War Crimes Against Humanity Mr. Marzulli, xNY.io - Bank.org is concerned that potential breaches to the Deferred Agreement are impacting our global enterprise. Crimes against humanity can be committed in peacetime as well as during an armed conflict. Even a single act could fall under this exclusion ground provided it forms part of a widespread or systematic attack against a civilian population and the act is committed by any person (including a civilian) who had knowledge of the attack and the link of the act to the attack. 1. We are looking to learn more about the DOJ’s approach to assessing any potential breaches to the Deferred Agreement’s mandates as we determine New York State’s role in cross-border bank regulation and corresponding innovation beyond war crimes against humanity. 2. In order to establish whether a war crime or a crime against humanity has been committed, the case officer should consult the relevant international instruments and case law. 3. Crimes against humanity are fundamentally inhumane acts, committed as part of a systematic or widespread attack. Inhumane acts, which could reach this threshold when committed pursuant to or in furtherance of a State or organizational policy (potentially, New York State bank regulation). 4. Persecution against any identifiable group or collectivity on political, racial, national, ethnic, cultural, religious, gender, or other grounds that are universally recognised as impermissible under international law. 5. Furthermore, we have made 28 highlights to the Deferred Agreement providing supporting reference to Memo #4’s overarching premise. xNY.io - Bank.org submits Memo #4 for DOJ consideration of other inhumane acts of a similar character intentionally causing great suffering, or serious injury to body or to mental or physical health. Some crimes against humanity would require an additional specific intent, such as Goldman Sachs willfully disrespecting New York State and/or overall peace and security of the United States of America. Memo #1, Memo #2, Memo #3 and Memo #4 outline instances that correspond with the associated definitions of the potential war crimes abroad and jeopardize the future of bank innovation from New York, at great sacrifice to the Homeland. We hope to learn the DOJ’s approach to comment on Memo #4’s subject matter or, without delay refer these concerns to the International Criminal Court and/or International Court of Justice for comment. Respectfully yours with anticipation, Gunnar Larson - xNY.io <http://www.xny.io> | Bank.org <http://bank.org>MSc <https://www.unic.ac.cy/blockchain/msc-digital-currency/?utm_source=Google&u…> - Digital Currency MBA <https://www.unic.ac.cy/business-administration-entrepreneurship-and-innovat…> - Entrepreneurship and Innovation (ip) G(a)xNY.io +1-646-454-9107

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Re: Bank.org | SHELF CHARTER (Notice of Intent)
by Gunnar Larson 17 Oct '22

17 Oct '22

Dear Madam Superintendent: xNY.io - Bank.org, PBC sends you Ms. Lacewell intent of our global enterprise. We would like to earn a call with your office for a meet and greet. When would be a good time for you? Sending you the very best. Thank you, Gunnar Larson -- *Gunnar Larson * *xNY.io <http://www.xny.io/> - Bank.org <http://bank.org/>, PBC* MSc <https://www.unic.ac.cy/blockchain/msc-digital-currency/?utm_source=Google&u…> - Digital Currency MBA <https://www.unic.ac.cy/business-administration-entrepreneurship-and-innovat…> - Entrepreneurship and Innovation (ip) G(a)xNY.io +1-646-454-9107 New York, New York 10001 On Sat, Mar 13, 2021, 2:32 PM Gunnar Larson <g(a)xny.io> wrote: > Honorable Madam Superintendent: > > Bank.org submits notice of intent to begin preliminary conversations with > your office to earn your Shelf Charter designation approval. > > - Please notice the attached correspondence made to your attention. > Additionally, the memo can be reviewed here: > https://docs.google.com/document/d/1d1WU0ScurhEXwNm1YY-e2bPS6CDZK6nJt-ue0PX… > > We will contact Ms. Seema Shah's office on Monday 15 March with hopes of > scheduling Bank.org's first series of discussions on the > Superintendent's Shelf Charter consideration. > > With great appreciation, > > Gunnar Larson > -- > *Gunnar Larson - xNY.io <http://www.xNY.io> | Bank.org <http://Bank.org>* > MSc > <https://www.unic.ac.cy/blockchain/msc-digital-currency/?utm_source=Google&u…> > - Digital Currency > MBA > <https://www.unic.ac.cy/business-administration-entrepreneurship-and-innovat…> > - Entrepreneurship and Innovation (ip) > > G(a)xNY.io > +1-646-454-9107 > New York, New York 10001 >

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Collapse: Peak Oil Is Real
by grarpamp 02 Oct '22

02 Oct '22

Consider... push for renewables publicly used a happy spin on climate, but is actually based on top-secret quieted analysis [1] that oil has begun to run out. Prepare accordingly. https://en.wikipedia.org/wiki/Peak_oil https://peakoil.com/ Peak oil is the moment at which extraction of petroleum reaches a rate greater than that at any time in the past and starts to permanently decrease. It is related to the distinct concept of oil depletion; while global petroleum reserves are finite, the limiting factor is not whether the oil exists but whether it can be extracted economically at a given price. [1] GovCorp famous for suppressing hard truths eg: Smoking and Cancer

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Raids: Anonymous Safety Deposit Box US Private Vaults, FBI Illegal General Warrants
by grarpamp 27 Sep '22

27 Sep '22

https://www.latimes.com/california/story/2021-04-02/fbi-beverly-hills-vault… FBI Raids Business Renting Anonymous Safety Deposit Boxes, Forces Customers To Reveal Identity To Get Stuff Back In a case that's already sparked one lawsuit, a Beverly Hills strip mall business which rents private, anonymous safe deposit boxes was raided by the FBI last month - at which time the agency conducted a blanket seizure of hundreds of customers' belongings. Federal agents relied on informants and at least one undercover officer to gather information about transactions that took place at U.S. Private Vaults. (Irfan Khan / Los Angeles Times) To retrieve their valuables, customers will need to "identify themselves and subject themselves to an investigation to verify their legal ownership," according to the Los Angeles Times, which noted that one customer has already gone to court claiming that the government overreached by confiscating the contents of every security box. The company, U.S. Private Vaults, has been accused of laundering money for drug dealers - who anonymously stashed guns, drugs and cash. In an indictment against U.S. Private Vaults, Inc., the U.S. attorney for Los Angeles accused the company of marketing itself deliberately to attract criminals, saying it brazenly promoted itself as a place customers could store valuables with confidence that tax authorities would be hard-pressed to learn their identities or what was stored in their locked boxes. To access the facility, customers needed no identification; it took just an eye and hand scan to unlock the door. “We don’t even want to know your name,” it advertised, according to prosecutors. -Los Angeles Times The feds used "multiple informants and at least one undercover police officer who posed as customers" to surveil the store and gather information about its customers. One of the company's owners and several employees are accused of being involved in drug sales that took place at the business, as well as helping customers to convert cash into gold in a way that would avoid suspicion. Of note, U.S. Private Vaults shared a storefront with Gold Business - named as a co-conspirator in the indictment - which is accused of helping customers convert cash into gold to avoid having to report currency transactions which exceed $10,000. A sign taped to the front door of U.S. Private Vaults instructs customers on how to recover their possessions. (Irfan Khan / Los Angeles Times) In the March 9 indictment that was unsealed Friday, a federal grand jury charged U.S. Private Vaults with three counts of conspiracy — to launder money, distribute narcotics and structure cash transactions to dodge detection. None of the people who are allegedly behind the operation were named in the court records. It is was not immediately clear whether any individuals will face criminal charges as well. -Los Angeles Times The FBI and Drug Enforcement Agency took five days to go through and process all the boxes after the raid began on March 22, according to court documents. US prosecutors argued on Friday that while the original warrant remains under seal, the magistrate judge who approved it thought that the sweeping seizures were appropriate. "The government seized the nests of safety deposit boxes because there was overwhelming evidence that USPV was a criminal business that conspired with its criminal clients to distribute drugs, launder money, and structure transactions to avoid currency reporting requirements, among other offenses," prosecutors claimed in papers filed in Los Angeles federal court. According to prosecutors, the raid produced an unspecified number of weapons, fentanyl, OxyContin, and "huge stacks of $100 bills" which were flagged by drug-sniffing dogs. One box reportedly had $1 million in cash. The indictment was unsealed on Friday - just one hour before a court-issued deadline to respond to a lawsuit brought by a US Private Vaults customers who alleged that the blanket seizure was unconstitutional. The unnamed customer, listed in court papers as John Doe, said the search warrant should not have authorized seizure of the jewelry, currency and bullion that he kept in his three boxes at U.S. Private Vaults, because there was no probable cause to suspect the person committed a crime. “Just as the tenant of each apartment controls that space and therefore has a reasonable expectation of privacy in it, each of the hundreds of renters of safety deposit boxes ... has a separate reasonable expectation of privacy in his or her separately controlled box or boxes,” the person’s attorney, Benjamin N. Gluck, wrote in the complaint. -Los Angeles Times The customer seeks to stop the FBI from requiring anonymous customers to reveal themselves and undergo an investigation to verify legal ownership of their valuables - with attorney Benjamin Gluck arguing that the government is holding his client's goods "hostage" until he identifies himself. Gluck pointed to a statement by assistant US Attorney Andrew Brown describing the procedure for retrieving valuables. "Though Mr. Brown perhaps deserves credit for his candor, his announced plan is grossly improper and manifestly unconstitutional," wrote Gluck, noting that Brown had previously conceded in court papers that some US Private Vaults customers were "honest citizens to whom the government wishes to return their property." "But the majority of the box holders are criminals who used USPV’s anonymity to hide their ill-gotten wealth," he wrote. "To distinguish between honest and criminal customers, the government must examine the specific facts of each box and each claim, precisely what the anonymous plaintiff wants to prevent by refusing to disclose not only his identity, but even the specific boxes he claims are his." Federal agents have seized evidence from U.S. Private Vaults, a Beverly Hills business that has been charged with three counts of conspiracy. (Irfan Khan / Los Angeles Times) Beverly Hills attorney Nina Marino, who represents several US Private Vaults clients, said that even if there were some criminal customers, "that does not authorize the government’s conduct in this sweeping action of not only seizing innocent box owners’ property, but viewing that property." "Every single person that paid money on a monthly basis did that with the expectation of maintaining their anonymity, and it’s just outrageous that the government has such low regard for the 4th Amendment and for an individual’s expectation of privacy," she added. UCLA law professor Beth Colgan called the issue "fascinating," adding that the big question is whether the search warrant was based on sufficient probable cause to believe that evidence of criminal wrongdoing would be found in virtually all of the safe deposit boxes. "I would just be very surprised if a judge had approved a warrant that would allow the FBI to go through every single box absent evidence that the entire system was corrupt," said Colgan. "Maybe they have the evidence, and that’s the thing we don’t know."

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xNY.io - Bank.org | Memo #2 - JPMorgan Chase Board of Directors ESG Marketplace Manipulation
by Gunnar Larson 22 Sep '22

22 Sep '22

May 1, 2022 BY ELECTRONIC MAIL Investor Relations Board of Directors, JPMorgan Chase & Co. 277 Park Avenue New York, NY 10172-0003 JPMCinvestorrelations(a)jpmchase.com Re: JPMorgan Chase Board of Directors ESG Marketplace Manipulation Dear Board of Directors: xNY.io - Bank.org recently contacted JPMorgan Chase’s board of directors to communicate our concern(s) that potentially JPMorgan Chase may be engaging in exploitation of more than $100B of ESG asset liabilities, across international regulatory arbitrage structures, while headquartered in Manhattan. Specifically, the duty to promote the success of the company is that a director must act in the way that she considers, in good faith, and would be most likely to promote the success of the company for the benefit of its members as a whole. - Failure by a board to adequately consider ESG-related risks, particularly entity-specific compliance risks such as breach of securities laws, could serve as the basis for liability of individual directors or officers for breach of their fiduciary duties. Given JPMorgan’s five cout felonies, xNY.io - Bank.org is concerned with your board of director governance in preventing ESG fraud. xNY.io - Bank.org’s assessment of JPMorgan’s board embraces fundamentals including liquidity risk and protecting New York ESG cross border innovation from marketplace manipulation. Please find the attached memo <https://docs.google.com/document/d/1bxERzXknAFfVW3YsDpNB-GPlVoiLAeeBXUrxwOF…> addressed to your board's attention. Respectfully, Gunnar Larson -- *Gunnar Larson - xNY.io <http://www.xNY.io> | Bank.org <http://Bank.org>* MSc <https://www.unic.ac.cy/blockchain/msc-digital-currency/?utm_source=Google&u…> - Digital Currency MBA <https://www.unic.ac.cy/business-administration-entrepreneurship-and-innovat…> - Entrepreneurship and Innovation (ip) G(a)xNY.io +1-646-454-9107 New York, New York 10001

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The Matter of RUDOLPH W. GIULIANI
by Gunnar Larson 20 Sep '22

20 Sep '22

Brody Larson collates 43 highlights to "THE MATTER OF RUDOLPH W. GIULIANI, AN ATTORNEY" for reference: https://drive.google.com/file/d/1vgADU5PlBP6cqJ4pbR2P5JiSgO3bcccG/view?usp=…

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TWA-800: Shot Down By US Military [ref 9/11 UFO JFK etc Coverups]
by grarpamp 17 Sep '22

17 Sep '22

6 years old - 279 views. US Navy Sailor tells how TWA 800 was shot down. A true Holy Sh!t video. https://www.youtube.com/watch?v=R0vJFVm6Osk William Teele TWA-800 Downed USMil "upload_date": "20150718" https://www.youtube.com/channel/UCnfVT07_75-mQvUEn9EUP1w https://twitter.com/willteele 88 Photos and videos southbayesupport.com Joined July 2013 Tweets 534 Following 624 Followers 102 Likes 1,072 William H. Teele III @willteele 21h Today is the day the @FBI lied to you!!! And as I continue to say I was there!! #TWA800. “Battle E” is the story! William H. Teele III @willteele 21h @kevinroose @TWAFlight800Doc @latimes @CNN @BBC William H. Teele III @willteele 21h https://www.youtube.com/watch?v=/R0vJFVm6Osk Truth to What Happen to TWA 800 19 years later, I have to tell it! May the good Lord continue to bless us ALL! William H. Teele III @willteele 21h https://www.pennlive.com/life/2022/07/dont-be-afraid-to-cry-remembering-the… ‘Don’t be afraid to cry’: Remembering the crash of TWA Flight 800 TWA Flight 800 left John F. Kennedy International Airport at 8:02 p.m. on July 17, 1996. At 8:31 p.m., the Boeing 747-100 exploded over East Moriches, New York, 12 miles off the coast of Long Island,... "text": "The Lord Jesus Christ is so wonderful and will heal whatever you have going on and give you forgiveness.", "time_text": "24 minutes ago", "author": "momislazy", "text": "Respect brother thank you for sharing you story so long ago. Just imagine all the recent videos with no views we cant find hidden by the algorithm exposing current events 😩", "time_text": "31 minutes ago", "author": "Starmade Productions", "text": "please stay safe man. telling the truth now a days paints a target on people unfortunately", "time_text": "59 minutes ago", "author": "Toyo", "text": "Thank you my friend. You are a righteous man", "time_text": "59 minutes ago", "author": "bridgeheadprod", "text": "Wow", "time_text": "1 hour ago", "author": "John Job", "text": "Thank you William! You are a brave and extraordinary person for bringing this knowledge to the world. Your truth honors those who died and their families. I hope and I know your testimony will lead others. Never let weak men intimidate brave men!", "time_text": "4 hours ago", "author": "Jay", "text": "Thank you for putting this out there. I wish more like you could find the courage to speak up.", "time_text": "5 hours ago", "author": "sub dialect", "text": "I totally believe this man. I'd love to hear what the rest of CIC saw and heard that night. I feel bad for the poor FCman who fired the missile.", "time_text": "8 hours ago", "author": "Don Holt", "text": "I have names of all who knows including the shop that shot!", "time_text": "7 hours ago", "author": "William Teele", "text": "God bless you. Are you all right? You're a hero for sharing.", "time_text": "9 hours ago (edited)", "author": "jdennis187", "text": "I’m doing well, thank you. I am aware of what’s to come or been coming. I was warned the day it happened!", "time_text": "7 hours ago (edited)", "author": "William Teele", "text": "Blow up the truth in your face with the style I run with\nLike the Navy missile that shot down Flight 800 - Immortal Technique", "time_text": "12 hours ago", "author": "Serena Dawes", "text": "Stay safe my Navy brother ..", "time_text": "12 hours ago", "author": "Se7en", "text": "Take care brother.", "time_text": "13 hours ago", "author": "Chris Hricik", "text": "Hope God protect him and his family...", "time_text": "14 hours ago", "author": "Alexander Urena", "text": "I don’t Hope, I know! That’s what’s me doing this ever more so real. A living sacrifice.", "time_text": "7 hours ago", "author": "William Teele", "text": "Hope you are fine after revealing truth cause the truth can hurt.", "time_text": "1 year ago", "author": "garry weinberg", "text": "It truly do, especially since I’m in contact with one the fathers of a kids on the plane.", "time_text": "7 hours ago", "author": "William Teele", "text": "I do recall jazz great’s wife , Wayne Shorter was on plane. Again thanks for bravery. Things seem pretty blurry these days only because powers to be write the script. PEACE.", "time_text": "54 minutes ago", "author": "garry weinberg", "text": "god bless.....", "time_text": "6 years ago", "author": "Navy XA",

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Cryptocurrency: PoW over PoS
by grarpamp 17 Sep '22

17 Sep '22

Privacy-enabled coins ftw! All commodities require energy. Since crypto is a commodity it can serve as global digital money. The economic function is to provide property rights to 8B people as well as a global settlement network that has already cleared $17T in 2022. https://www.youtube.com/watch?v=FIj-r7kR6N4 https://preview.redd.it/o04z31jyocn81.jpg?width=1199&format=pjpg&auto=webp&… Proof of Work is the most important innovation within blockchains and why blocks in blockchains even exist. The key aspects as to why Proof of work is so important and cannot be replaced by PoS are: 1) Fair Coin Distribution No scammy ICO , premine or instamine is created and miners are forced to sell most of their coins to cover the expense (mainly ASICs + electricity) which allows a fair distribution and competition in the minting process. 2) long term incentives With coins that have premines/instamines/ICOs the incentives are such that the creators benefit from pumping and dumping and creating more altcoins/ICOs to "fundraise" more rather than miners who have sunk infrastructure costs on mining a particular algo(The more we approach Moore's cliff the longer these time preferences become as we have been seeing) 3) Decentralization of Minting Since mining BTC is so competitive, profit margins are typically thin and thus new entrants that either use a better tool to mine (ASIC) or find cheaper sources of power(typically green due to the economics) can quickly gain market share making lasting monopolies difficult. Even if a main ASIC manufacturer appears to have a large market share we can see this quickly change due to a single malinvestment or a mistake when developing the newest ASIC. Power is a resource that comes from many sources and allows many locations around the world to remain competitive for unique reasons. 4) Sybil resistant Proof of work allows miners to order transactions where there are real tangible costs to transaction selection and fake nodes cannot simply flood the ecosystem in order to attack the network 5) Game Theory The game theory of Bitcoin is such that it is more profitable to mine bitcoin and secure the network than attack it because any attempt at a 51% attack or reorg the chain would quickly be caught once the attack was executed and the loss in resources would be profound. 6) Objective Security - Proof of work gives us an objective and measurable degree of security where risk assessments can be made with greater precision that isn't afforded with more subjective forms of security. 6) Less Regulatory Scrutiny - One critical aspect to how securities are defined and regulated by governments(for the USA research into "Howey Test" but other countries have similar regulations) deals with who controls the money/investment and a common enterprise profiting from it. Because Proof of work allows anyone to become a bank that mints and secures the network that no-one can control courts have already determined that Bitcoin cannot be considered a "security" and thus would not fall under those regulations like other coins/ICOs that lack Proof of Work. PoW alone is not the only determining factor on defining what is and isn't a security but an important one. 7) Incentives to resist centralization The game theory and incentives of Proof of stake all lead to centralization because there is no external need to compete for energy and efficiencies. The creators or large whales who buy into the coin will all form a controlling oligopoly who can simply collect taxes (fees) for no effort and censor with no effort unlike with proof of work Proof is stake has nothing at stake. They all try to somehow artificially make up for the fact there's no cost to attack. They're all basically trying to fake work without doing work. The slashing or whatever the preminers are calling it is after the fact. After the rich guys have forked off, which they can do because they're both producers and validators, they don't care about the value of that other chain left behind. The majority staked coins have already decided what's the main chain. Now if you want to overrule them, the CEO of that blockchain is going to need to repeatedly roll back and convince everyone to stick to the chain he decides by his authority as the valid chain. This has already been done after an embarrassing smart contract hack where the premine gang lost their coins. Proof of work attack cost is upfront cost and easily identifiable so the rogue miners will have lost money doing nothing except attempt a single double spend before nodes reject their blocks. Yes they can carry on attack for a long time and publish a long reorg which would have massive cost but a small fork choice change to automatically reject reorgs past certain number of blocks including any double spend will fix that. All it takes to overpower rogue miners in bitcoin is $50 rasp-pi rig. When security of blockchain depends on the coin created by itself and only people with staked coins can validate blocks, you're FUBAR when someone with enough coins wants to attack the chain or force changes to their own benefit. Moores cliff means old ASICs do not become obsolete as quickly. The newest ASICs are already down to 3nm , to put things in perspective Intels most expensive retail chips are still at 10nm , there really isn't that much more room for BTC ASICs to shrink which means decentralization of mining . There are also many fundamental misunderstandings people have towards the advantageous and disadvantageous in industrial mining. A few things you need to understand about mining – Chipmakers like TSMC and Samsung as 2 examples (Soon to add intel to this list) are the ones that are commissioned to make most ASIC chips(not the full assembled ASIC miner) based upon designs from Bitcoin ASIC manufactures. These foundries are involved in diverse chip making and obviously aren't directly involved in Bitcoin or its politics but fulfilling large orders from whoever commissions them. The most popular ASIC manufacturers for Bitcoin right now are Whatsminer, Innosilicon, Bitmain, Caanan, Ebit, and Ebang. Many more ASIC manufacturers exist but they come and go based upon merit in a highly competitive race. For example Bitfury used to be one of the best manufacturers , and now has very little market share. Bitmain used to dominate , and than made some poor design decisions (lead engineer left them) and now competes with at least 4 others for the most efficient ASICs. This is a highly competitive and changing ecosystem. Large miners main advantage is economies of scale over smaller miners. If you are an ASIC manufacturer you have large advantage over others because you can premine off your newest hardware and sell you last generation ASICs to others. This does occur , but is simplistic view and not the full picture. The reality is ASIC manufacturers Sell their newest ASICs with partners for industrial mining , sell their latest hardware to smaller miners for a premium, and mine themselves, while at the same time selling older ASICs on the market. Why do they do this? Because ASIC manufacturing is highly competitive and they need to hedge their investments as quickly as possible and de-risk from regulatory concerns as well. Amateur mining doesn't come with many risks of manufacturers who come and go (they are forced to make huge investments in ASIC orders and have long development pipelines fraught with risks) Amateur mining does not have the overhead of employees , security, regulatory compliance, building costs, tax liabilities , etc... Now here is what is interesting, this last generation of ASICs that went from 7nm to 5nm in size did not have the same efficiency jumps as previous drops. This is because 5nm is already at the edge of what can be done with silicone, we can possibly shrink down to 2-3nm but it gets extremely difficult as the gates start to get the size of a few atoms wide and quantum concerns and heat become a very big concern. Why is any of this important? In the past when ASICs went from 14nm to 12nm there was larger improvements in efficiencies which gave an advantage towards those who could manufacture and mine themselves and their partners. ASICs would become obsolete sooner 8 months to 1 year at times which makes it difficult for amateur miners to recoup their investment in an ASIC especially those that by the slightly older generation equipment. As moore's cliff approaches (we are already there as I don't see 2nm anytime soon) this means that this latest generation of ASICs will have a much longer shelf life which means the variable above is much less important and the greater importance is a complex mix of what sort of electrical rates you can get - overhead costs. Now remember what I said about the advantageous of amateur mining. Industrial mining has other advantageous too like economies of scale and specialization but many disadvantageous as well. What this ultimately means is we are entering a period of commoditization in mining(the opposite of centralization). The economics force this direction. industrial miners will still exist but more and more amateur miners will enter the ecosystem. Eventually new companies will be also created that create products to recycle the waste heat (already exists , but prices will start to drop considerably for consumers) In POS, as far as I understand, any small time player can stake and get the same return on investment a huge whale would get. The largest whales will always get more and more stake for 0 effort due to collected fees from staking which is proportional to their stake . Thus even if you equally distribute all the stake initially it will become centralized over time. https://youtu.be/bBC-nXj3Ng4 https://youtu.be/ncPyMUfNyVM The "environmental impact of using electricity" seems very pedantic and cherry picks cases for criticism. There are countless other uses of electricity in the world which no one is talking about which provide very little contribution to societies. People are so brainwashed it's sad, when presented with a system to move away from the global rot of fiat currencies and central banks, as well as solving the unbanked crisis (to name but 2 crucial benefits). All they can talk about is energy use. Nothing of value can exist without energy. "Physics of value". How much energy do sport events use and environmental damage do they cause, for entertainment purposes. God forbid humanity uses some of it's electricity so countries can have financial security and protection from the countless financial crashes imposed on the populous. No let's stick with the same corrupt and limiting system which only serves the 1% I.e. those living furthest up stream and closest to the source. Excellent logic, at least you'll all be able to blame your respective governments for the continued increase in cost of living, lack of access to education, housing, food and energy. Because of course....these issues couldn't possibly be linked to the current system for value exchange and "wealth preservation". No let's stick with the debasement of fiat currencies and the completely unbalanced distribution of economic gain leading us to war and social unrest. Yeah that sounds so much better for the planet. Our children will be eternally thankful we were too manipulated to create a better future. Privileged middle and upper class people living in the developed world can easily ask; "Yeah, but, do we need to use so much energy for something that presently provides so little benefit?" But try asking someone in Africa, South America and any of the other financially ravaged countries where people have their fiat savings taken away by governments the same question. I think you'll get a far better answer from them than you will on Reddit. As for energy think of how much energy countries, people and creatures require to protect themselves. Is the amount of military spending carried out by America and Europe useful energy consumption. I would argue yes, you cannot protect your way of life without energy and force. Again, physics, energy and force. You require energy for protection, most things require energy to exist. You are falling straight into the elitist trap of daring to tell people what they can use their energy for which they either create or purchase. Very slippery slope which will not end at Bitcoin mining. The Bitcoin network requires energy to protect itself, the energy to protect it's network participants stake. It's never been hacked. The most secure digital network with a non biased approach to users and participants, accessible 24/7, border-less and with no single point of failure. No to think about it, you're completely correct, there's no benefit to such a digital facility in an ever increasing digital age with debasement of fiat and soaring inflation. This narrative will be proven baseless eventually like so many other misinterpretations of positive developments in human history. The lies and manipulation always get uncovered in the end, just a shame so many people have to suffer as a consequence of propaganda and conformist indoctrination. Those opposing it are supporting oppression on the unbanked and those impoverished by their centralised currencies and governments. But Bitcoiners are the ones being questioned on their ethics and morals. How beautifully ironic this tale currently is.

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xNY.io - Bank.org | DOJ Memo #1
by Gunnar Larson 12 Sep '22

12 Sep '22

Mr. Marzulli: Memo #1 here: https://docs.google.com/document/d/1OsxfjN3TUepftKklopkQDSMwFWstWozuku4IPPu… Why on Earth should the Deferred Agreement be our problem. We expect DOJ guidance on this serious matter. I love you too, Gunnar -- *Gunnar Larson - xNY.io <http://www.xNY.io> | Bank.org <http://Bank.org>* MSc <https://www.unic.ac.cy/blockchain/msc-digital-currency/?utm_source=Google&u…> - Digital Currency MBA <https://www.unic.ac.cy/business-administration-entrepreneurship-and-innovat…> - Entrepreneurship and Innovation (ip) G(a)xNY.io +1-646-454-9107 New York, New York 10001

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