5,628 karma · joined March 15, 2009
[ my public key: https://keybase.io/norswap; my proof: https://keybase.io/norswap/sigs/7MjYNKBzV3Q0iTnTn7335vArDZwY_nZ0OkRLeXz1JII ]
While Tether is certainly opaque (you could say shady), it's incredibly doubtful that it's unbacked to a significant extent. Even if it's only backed at 50% (which would be really shocking to me), it would take 39B$ to flow through the system to actually cause a depeg. That's very unlikely, and just the logistics of it means it would leave a lot of time to Tether to clear the air.
Consider that being "nakedly" unbacked (no underlying assets) in any meaningful capacity would qualify Tether's leadership for a quick trip to prison — as they've repeatedly said they were fully backed.
The real risk is them sitting on "commercial paper" (short term debt) that is now worthless or significantly discounted. I still doubt they would have lost more than 50% of reserves this way.
I think it's also interesting that SBF (FTX's founder) is fairly confident in Tether (of UST he said months ago "we know how this ends"). He seems better informed than most, and it seems unlikely to me he'd stake his company (which has extensive dealing with Tether) on a system that cannot be sustained.
I have no chip in this fight, and honestly, I do agree Tether is riskier than alternative, which is why I've never even held it. But UST and Tether are vastly different beasts in term of risk profiles.
Yeah, no, this is definitely not how 2012 was. HMTL5 was not adopted much, but most people used XHTML, and table were definitely out of favour.
Flash was already on the decline, and this was a full 2 years after Jobs said "no Flash on iPhone/iPad".
Microsoft dropped support for IE6 at around that time, some of Google services were already not compatible anymore.
It's older though (seems to have been first written 6 years ago) and has significantly more code.
(I have no horse in this race, I had .eth in my username and then removed it because I decided that I'd rather not encourage people to look into the transactions I'm making, though admittedly it's still easy enough.)
We're paying 50k for people that are able to completely break the system, and 5k for minor problems. Details here: https://immunefi.com/bounty/optimismcannon/
There will also be a call next Tuesday where you can come ask your questions: https://immunefi.com/bounty/optimismcannon/
It's well known that Russia is a safe haven for piracy & copyright infringment. Can't say that hasn't benefitted me quite a few times.
Calling the author of the article "some bored duded that wrote an article" is not a really strong argument against considering the points it made.
Sure, if you're going to do greenfield software development, and you don't absolutely need to kind of closeness to the metal (not just performance, but direct access) that C offers, then use something else (Rust, Zig, Go ... if you need to compile to native binaries, Java, C# & their myriad of variants if you don't).
But if you have to use C, to extend an existing project, use a specific library, or hook some other system... why not use Cello?
For sure, this is not a tight black-box abstraction, so you should strive to understand the semantics of how it works. Once you do though, it'll make your life a whole lot simpler.
I'm an hypocrite like all the others though, I was a member for a few years (to reduce my conference fees).
You have to call the `deposit` function of the smart contract (transfering ETH with it indeed).
And to withdraw your WETH as ETH, you call `withdraw`.
These calls can be made from here (power user interface! not recommended - use Uniswap instead): https://etherscan.io/address/0xc02aaa39b223fe8d0a0e5c4f27ead...
The source code of the contract is here: https://etherscan.io/address/0xc02aaa39b223fe8d0a0e5c4f27ead...
If you're going to slush a cool half mil around, you should really have absolutely basic litteracy of how this stuff works -- just how you should have the same litteracy about the banking system if you're going to half a mil there too. Or hire people who do.
The pattern is as follows:
- A: I had a really bad accident, we should make these vehicles more secure. - B: No, you had to be aware that it was risky.
- A: Stripe jeopardized our business, they really should have better customer support for these cases. - B: No, you had to be aware it was risky to use them.
It's a non-sequitur: the plight for increased security/customer support is in no way hampered by the fact that the buyer had to be aware of the risk (which I guess he had, but ... so what?).
This is a disingenuous argument in general. If cars were much more unsafe than they are, would you also blame car crash victim for driving a car knowing what the risks are?
I think this event, and many others (and Stripe is very far from being the worse of the lot - looking at you Apple & Google) shows that these companies simply do not value their customers' peace of mind and are perfectly happy to send automated notices and perform automated takedowns without a (relevantly informed & powerful enough to act) human in the loop, and without the possibility of a meaningful appeal (that gives actual reasons and not "you have violated policies").
Automation can fail, but this begs the question of why this is automated in the first place, given the consequences. This is also not a business bringing in 100$ per month (though I will argue they also deserve respect, but I understand if they're not giving quite the same care as business bringing in hundreds of thousands or millions).