View my NFT collection here: https://nitter.gq/t.co/CFNevglBbH
Joined December 2019
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Edward de' Medici retweeted
NiceHash makes up 15 - 30% of Ergo hashrate, most of it going to centralized pools and barely making revenue.
Lithos users can outbid every single normal miner on NiceHash due to the profitability increases they get.
The older renters get pushed out, since they don't use Lithos and can't afford the new price per hash, and it will change the rigs from pointing at centralized pools to a decentralized one.
In the current state, it is pretty close to free money vs pointing towards a pool.
NiceHash's market hasn't priced in Lithos at all.
Edward de' Medici retweeted
We are not far from agents generating hard money via GPU mining when having idle time (which eesembles early hard assets(shells, gold) production in human societies), then fractional reserve systems on top of it
Edward de' Medici retweeted
@chepurnoy understood crypto’s foundations long before most did.
CEXs, KYC, fiat dependency — these are the very systems crypto was born to challenge.
Ergo represents a different path. When will the market finally understand? ergo:native
Edward de' Medici retweeted
Set your reminders ! See you soon.
Ep 02: Binance Hacked!?
Join @EmergingShield & @quno_steve for a free-flowing community chat.
Big ideas. Ape energy.
@the_ape_society
nitter.gq/i/spaces/1onMedYXBNnKP…
Edward de' Medici retweeted
No trusted middlemen, no kyc, just free crosschain markets reddit.com/r/ergonauts/comme…
Edward de' Medici retweeted
The Binance hacker might have just pulled off one of the smartest moves I’ve seen in crypto.
First, Tether froze $1.5 billion in USDT.
Then Circle froze another $800 million in USDC.
At that point, it looked like the hacker’s money was trapped.
But apparently, he had already planned for that.
Instead of holding the stolen USDT in a wallet, he allegedly deposited it into Aave and used it as collateral to borrow ETH.
Then he walked away.
That’s where the story gets crazy.
Tether can freeze the USDT sitting in the wallet.
But it can’t freeze the ETH he already borrowed.
So now Aave is left holding frozen collateral, while the hacker is sitting on liquid ETH.
And unless the protocol can recover it somehow, he may not even need to pay the loan back.
Two companies froze billions of dollars in seconds.
But someone who understood how to use DeFi may have found a way around both of them.
Pretty insane when you think about it.
Readers added context they thought people might want to know
The described Aave deposit used only ~60M USDT as collateral to borrow 19,762 WETH before freezes hit the main wallet, not the bulk of funds; Aave states the overcollateralized position is subject to normal liquidation with no material protocol risk.
governance.aave.com/t/binance-hot-…
x.com/binance/status…
drk.vc/news/binance-1…
Edward de' Medici retweeted
Ep 02: Binance Hacked!?
Join @EmergingShield & @quno_steve for a free-flowing community chat.
Big ideas. Ape energy.
@the_ape_society
nitter.gq/i/spaces/1onMedYXBNnKP…
Edward de' Medici retweeted
CEXes are failing us. KYC is a crime. Fiat is killing free markets and increasing inequality. We need to work on future free of these parasites.
Edward de' Medici retweeted
Trust minimization is trying to shrink the attack surface that depends on human trust, create systems become harder to capture or shut down, preserving censorship resistance and financial autonomy over time.
It’s not sexy but it’s honest work.
Edward de' Medici retweeted
UEX has a lot of explaining to do.
This is absolutely ridiculous. $360k of funds stuck on the platform is a huge red flag. Sure sounds like a Ponzi.
@uex_us is under new ownership and I WOULD NOT trust them with my funds.
Be careful out there.
Edward de' Medici retweeted
Timeless.
Art that lives beyond the grave.
@the_ape_society @MugelloManor
Edward de' Medici retweeted
Reminder,there a lot of no kyc swap services for Ergo, such as
@GhostSwap_io
please provide more swap services you ve tried to buy
ergo:native
from and their kyc status in comments
Edward de' Medici retweeted
cash2cash: Insured Trust-Minimized Borderless Cash-to-Cash Transfers
reddit.com/r/ergonauts/comme…
Edward de' Medici retweeted
Ergo protocol reference clients 6.0.9 and 6.0.10 are finalized and under review
Edward de' Medici retweeted
We are working on token/token LithosDex pool contracts.
We will be implementing them + Machina Finance + token/token ErgoDex pool batching for 1.0.7
Turning up Defi powers for miners each release.
Edward de' Medici retweeted
Basis on Ergo, aka digital blockchain based free banking predicted by @halfin is coming. We are addressing security reviews and updating offchain to support multiple tokens as reserves in a network. Then deployment with mcp and tui wallet, for initial testers we have already