Any asset on chain that has a peg to the real world: stablecoins, real world assets, tokenized securities, etc. are a systemic risk to DeFi because a large asset freeze can blow up an entire protocol.
It looks like a number of offshore exchanges are being targeted in this attack. @River is safe and will do what we can to support the industry.
Regardless of what happens with AI economics, the energy infrastructure produced from this boom is a great thing for our country. Bitcoin miners helped lay a lot of this groundwork.
The money printer will not be stopped. Inflation cannot be solved within our current political system. Bitcoin is the lifeboat.
A sample of businesses onboarded to @River this week: - Carpenter - Christmas Light Installer - Spa & Wellness Center - Accountant - Painter - Health Tech Main street likes the orange coin 🚀
More than 10% of Americans have replaced their savings accounts with Bitcoin
If it was actually important to "pace the frontier", wouldn't the first step be to limit the amount of capital that AI companies can raise? Funny how he doesn't mention that at all. Nobody should trust these guys to influence policy.
A sample of businesses onboarded this week to @River: - Concrete manufacturer - Multiple Bitcoin miners - Vending machine operator - Culinary training company - Music business consultant Pretty cool 😎
I want to be clear about something here: While I'm proud that River can serve as a source of trust during this tumultuous period, I am extremely disappointed this is happening. People should feel safe and confident holding their own coins without needing to trust River or any exchange. This security event has set the Bitcoin ecosystem back. With that said, there are incredible people leading the charge to help those who are at risk, and this group will lead the way in building consumer confidence in self custody over the months and years to come. @Rob1Ham, the @blocks security team, @jamesob, @TheBlueMatt and many others. With every failure is an opportunity to build something better. How we respond to this will help define the future of the industry.
To build secure systems you must be humble. If you do not deeply internalize your own fallibility you will not go that extra mile to ask yourself "what can I do to make sure this thing is still secure even if I'm dumb and made mistakes?".
