I'm not certain what the ideal amount of Roku's $487mn of funds - out of a corporate treasury of $1.9 billion - should have been stored away in an m-of-n Bitcoin multisig.
But clearly the answer is not 'zero'. It turns out 'zero' loses you $487 million dollars!
Even for companies with significantly less exposure, if you find yourself not being able to make payroll - either b/c of exposure to Rippling or to SIVB diretly - how can you justify not keeping at least two weeks of payroll in an asset that doesn't require an intermediary between you and your employees, once you dig yourself out of this mess?
arbedout
arbedout@granddecentral.com
npub15elf...yswk
I put the punk in cypherpunk
We were right about everything - about yield farming, about shitcoins, about fractional reserve banking, about inflation...
...and they will never forgive us for it.
Fuck a bailout, I want to see show trials.


I mean. If you're a stablecoin that has lost it's peg as a result of a run on a fiat bank....


Them: you shouldn't celebrate when banks fail
Me:


SVB going into receivership. Bitcoin users unaffected.
<extremely Siouxsie Sioux voice>:
🎶 whoah ooo oh, all your shitcoins lie in dust, my friend 🎶


I would simply not build software that requires permission from the NYAG. It's not complicated
Reading Dr. Niel Ten Oever's Ph.D thesis right now for the University of Amsterdam and it's such a banger:
The entanglement of the Internet with the daily practices of
governments, companies, institutions, and individuals means that
the processes that shape the Internet also shape society. In this
dissertation, I study the norms that shape the Internet’s under-
lying structure through its transnational governance. Norms are
the ‘widely-accepted and internalised [sic] principles or codes of
conduct that indicate what is deemed to be permitted, prohibited,
or required of agents within a specific community’ (Erskine and
Carr 2016, 87). Internet governance is the development, coordina-
tion, and implementation of policies, technologies, protocols, and
standards. Internet governance produces a global and interop-
erable Internet functioning as a general-purpose communication
network in transnational governance bodies. I examine four cases
of norm conflict and evolution in three key Internet governance
institutions: the Internet Engineering Taskforce (IETF); the Internet
Corporation for Assigned Names and Numbers (ICANN); and the
Réseaux IP Européens Network (RIPE).
https://www.academia.edu/44194819/Wired_Norms_Inscription_resistance_and_subversion_in_the_governance_of_the_Internet_infrastructure


Doing research for the book aaaand:
I was already familiar with the "Everything about the Internet is bad" Greek chorus of Nicholas Carr et al - the early Internet equivalent of nocoiners, if you will - but I seem to have hit a rich vein of "the Internet would be so much better if only those damn Internet maxis would have listened to me" cope - from Louis Pouzin at CYCLADES (pre-TCP/ARPANet) to Mark McCahill at University of Minnesota (Gopher) to Robert Desjardins (OSI).
It's wild how often the same behavioral pattern repeats itself, with even the same personality (arche)types. Maybe I should be studying mental health and dysfunction instead of networking...?
"Iranian Vice President for Economic Affairs, Mohsen Rezaei, proposed the creation of a joint bank with African states with the aim of helping develop economic relations."


thecradle.co
Iran proposes creation of joint bank with African states
During a conference with representatives from West African states, the Iranian president stressed that, unlike the west, Tehran is interested in Af...
Goals for today: making chicken katsu at home and filling in the gaps in my understanding of PSBTs.


Any nostr clients or apps with built in cashu wallets?
Thinking about how the State encouraged home ownership because it meant more saltpetre (a precusor to gunpowder) would be produced.


Remember, the shitcoiners will try to write their own histories of their utter, total ideological defeat.
The slides below is an excerpt of a presentation from an ex-CYCLADES engineer. CYCLADES was a French research network that launched in 1971, was terminated in 1976, never reached more than 20-some nodes, and whose alumni have *very* strong opinions about the current Internet.
I feel like I can guess this guy's shitcoin portofilo just from reading these bullet points:



🎶 3AC was first in line 🎶
🎶 Now Silvergate and Gemini 🎶
🎶 SBF, Caroline 🎶c
🎶 Gensler wants Binance to die 🎶
🎶 We didn't play with shitcoins 🎶


Copied on a thread right now that reminds me of the Great Microsoft Exchange Email Storm of 1997 (Bedlam DL3)
For your morning enjoyment:
TECHCOMMUNITY.MICROSOFT.COM
Me Too! | Microsoft Community Hub
One way of telling how long a Microsoft employee has been working here is their reaction to the phrase “Bedlam DL3”. Just for grins, I w...
shill me your best 'the train derailments were caused by cyberattacks' theory


Nostr is less interesting to me as a communications protocol per se - at that layer it's just a bunch of websocket clients and servers with novel ways of discovering each other and a shared understanding of how to encode datagrams- but the sort of de-facto "not quite petnames, not quite SSL certs, something else" identity layer that has built up on top of that is frigging nuts