TL;DR: Online content is filled with dross. Worth the Click sifts through a lot of it, kissing frogs to find your prince. Videos. Blogs. Tweet threads. Anything, really. These curated selections merit your attention. In this installment, Coinmonks published a two-part series on How to Kill Bitcoin; Forbes gives a lengthy, glowing portrait of the first female Bitcoin Core developer; and KrebsonSecurity and the New York Times have the best insight into recent Twitter hacks.
How to Kill Bitcoin
Coinmonks, a non-profit cryptocurrency educational publication, recently published a two-part series, How to Kill Bitcoin. In part 1, “Is Bitcoin ‘Unstoppable Code?'” Joe Kelly concludes, “If you were wondering why, after 11 years and billions of dollars poured in, no real use-cases have emerged for blockchain technology when we were told it’s such a mind-blowing financial innovation, this is the reason.”
Brutal stuff. It comes from the often repeated trope about there being no way peer-to-peer encrypted messages can be censored, and that goes doubly so for the Bitcoin network. Hopium-peddlers continue, and further point out how there is no CEO of Bitcoin, and “if you knock out 1 node on the network, or even 1,000 nodes, the honey badger don’t give a shit: the other 10,000+ nodes keep going like nothing happened, and more nodes can come online at any time, anywhere in the world,” Kelly steel-mans. “Wrong.”
While his arguments are not particularly new, they’re important to review periodically as the ecosystem influencers and bag-holders can get carried away with regard to price calls and praying for world economic disaster (which is both creepy and weird). Kelly reminds readers of two basic facts often not well understood: Bitcoin is “not just a network, it’s money. The whole system is held together by a core structure of economic incentives which critically depends on Bitcoin’s value and its ability to function for people as money. You can attack this. It’s not just code, it’s physical. Proof-of-work mining is a real-world process and, thanks to free-market forces and economies of scale, it results in large, predictably-located operations with significant energy footprints and no defense. You can attack these.”
New Bitcoin Core Developer is First Female
Forbes contributor Rory Murray’s, First Confirmed Female Bitcoin Core Developer Is True Face Of The New American Dream is a long portrait of Amiti Uttarwar, born and raised in California’s bay area. She is the “daughter of Indian immigrants from western Maharashtra state, Amiti is the first confirmed woman developer of Bitcoin Core, the protocol underlying a $170 billion market cap asset changing the face of privacy, security, and value,” Murray gushes.
The piece delves into Uttarwar’s background, from upbringing to the present day, working her way through the top cryptocurrency companies in the space. “In her talk ‘Attacking Bitcoin Core,’ Amiti has identified five design principles for peer-to-peer (p2p) and the bitcoin network, namely that p2p should be reliable, timely, accessible, private, and upgradeable. One of those goals, though, stands out for her. ‘Accessibility is one of my five p2p design goals, but I also see it as a human goal in creating educational content and mentoring people onboarding to bitcoin, ensuring that people can participate in the ecosystem.” Worth the click.
Twitter Compromise Examined
A favorite, mandatory blog is KrebsonSecurity by Brian Krebs. The latest examination of the Twitter hack, which sent the platform scurrying as Blue Checks were luring-in victims for bitcoin, is an excellent early take. Who’s Behind Wednesday’s Epic Twitter Hack? Krebs muses, “If PlugWalkJoe was in fact pivotal to this Twitter compromise, it’s perhaps fitting that he was identified in part via social engineering. Maybe we should all be grateful the perpetrators of this attack on Twitter did not set their sights on more ambitious aims, such as disrupting an election or the stock market, or attempting to start a war by issuing false, inflammatory tweets from world leaders.”
While acknowledging it was a “fast-moving story,” Krebs continues, “Also, it seems clear that this Twitter hack could have let the attackers view the direct messages of anyone on Twitter, information that is difficult to put a price on but which nevertheless would be of great interest to a variety of parties, from nation states to corporate spies and blackmailers.”
It’s well-matched with New York Times coverage by Nathaniel Popper, Hackers Tell the Story of the Twitter Attack From the Inside. Popper and crew actually get what they claim are quotes from the perps. It covers “the personalities involved and how they got into Twitter in the first place (spoiler alert: Slack).” Top your reading off with Twitter’s first official statement on the matter, and you have a pretty good idea of why decentralization is so important for the future of social media.
- Building a Solid Foundation for Bitcoin Cash Businesses was livestreamed recently with special guest Jean-Baptiste Dominguez from HoneyPay.
- BCH Coffeehouse: The Perfect Wallet featured guests such as James Cramer, Josh Ellithorpe, Jonald Fyookball, Matias Alejo Garcia, Pokkst, Paul Puey, RomitRadical, and Tom Zander.
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DYOR: CoinSpice is your home for just spicy crypto things. We’re not affiliated with any cryptocurrency project or token. Each published piece is intended for information purposes only, not investment advice and not in the hope of impacting speculative markets. There are plenty of trading sites and coin-specific advocacy journals out there, we’re neither. CoinSpice strives for rigorous accuracy in our reporting. Information presented here is contingent usually on a host of factors, and the ecosystem moves fast — prices change, projects change, and at warp speed. Do your own research.
DISCLOSURE: The author holds cryptocurrency as part of his financial portfolio, including BCH.