#crypto/digital

[warakami-vaporwave]

Atari84

[thesecrettimes]

Vitalik Buterin Says Crypto Is a ‘Better Bet’ Than ‘Incredibly Inconvenient’ Gold

 While Buterin asserts that such characteristics make gold less appealing, some crypto opponents argued that gold is better, because unlike the Ethereum blockchain, it is not controlled by only a few entities.

Decentralized Issuer of Money

The Ethereum blockchain co-founder, Vitalik Buterin, waded into the crypto-versus-gold debate after he posted a tweet suggesting that the former is a better bet than the precious metal. In his Oct. 26, 2022 tweet, Buterin slates author Zach Weinersmith’s assertion which implies that gold fits well with what crypto enthusiasts are advocating for. As suggested by Weinersmith in his tweet posted on the same day, the only meaningful argument put forward by crypto advocates is their call for a decentralized money-issuing authority. Still, the author wondered why gold, given its qualities and characteristics, is not being touted as a solution. So, the only argument I've heard about crypto that makes sense within the believer's own framework is that they don't want a centralized authority for money. In that framework though, why not just go with gold? — Zach Weinersmith (@ZachWeiner) October 26, 2022 However, in pushing back against Weinersmith’s suggestion, the Ethereum blockchain co-founder reminded the author of the key areas where the precious metal seemingly comes up short. He said: Gold is incredibly inconvenient. It’s difficult to use, particularly when transacting with untrusted parties. It doesn’t support safe storage options like multi-sig. At this point, gold has less adoption than crypto, so crypto is the better bet. Meanwhile, Buterin’s terse response to Wienersmith’s initial tweet drew an immediate reaction from both crypto opponents and advocates on Twitter. One user named Hayden.eth argued that “gold also has the risk of huge centrally controlled inflation due to asteroid mining.”

Crypto Not Tangible Like Gold

However, Twitter user Golden Knight appeared to question the Ethereum blockchain’s decentralization credentials, given the ongoing reports which suggest that only a few parties are controlling the chain. According to the user, having few parties controlling a blockchain potentially means they “could get control over the transactions worldwide.” One supporter of gold appeared to question the wisdom of using digital currencies in an era characterized by power outages. According to the user, gold is a better alternative because unlike crypto, it is tangible. Twitter user Levraham Spreadsmith, a self-proclaimed “optionality maxi,” appeared to use a reworked version of Buterin’s tweet to attack the Ethereum blockchain. “Ethereum is incredibly inconvenient. It’s difficult to use, particularly when transacting. It can’t be made into a water bottle like stainless steel. At this point, Ethereum has less adoption and a lower market cap than stainless steel, so stainless steel is the better bet,” Spreadsmith argued. The user also went on to list industries where the ethereum blockchain is not needed but where stainless steel is widely used. What are your thoughts on this story? Let us know what you think in the comments section below. Read the full article

[ragrfisk]

I went down a specific dwarf-based rabbit hole today and ran into this problem.

[jessadilla]

First kiss from a cryptage fic I might never even finish. oops

[basement-buddy]

No way…. Is the surveillance expert?! 😱

[aliciadespair]

I'VE DRAWN A DORITO NAMED

BILL CIPHER !

Translation : Hi, my name is Bill !

[hybridbeauty92]

Ethiopian Peaches and Pearls

[voodootoken]

MS PAINT TURIAL | Watch this simple guide , and learn how to draw our mascot in no time, Goodluck!

[breadsticckk]

a drawing of crypto I made with highlighters today, and a sketch of catalyst I did awhile back that I forgot to post. both are redraws, where crypto is a redraw of his game select banner, and catalyst is a redraw from her official art. :3

[xinghy]

👻👻👻

[critterishere]

hey y’all so ummmm

I uhhhhhhh

I’m sorry I’m sorry I’m sorry

[warakami-vaporwave]

MasterCard84

[thesecrettimes]

Hackers have already stolen $3 billion value of crypto in 2022: Chainalysis

Hackers have so far stolen $718 million from DeFi protocols in October, which could yet be the biggest month for hackers, Chainalysis said in a repor Total value hacked and the number of hackings across the decentralised finance (DeFi) ecosystem has shot up over 2022, with billions stolen in what is turning out to be the biggest year for hackers in cryptocurrency. According to blockchain security and analytics firm Chainalysis, October has seen 11 different hacks targeting DeFi protocols. As the month reaches halfway, hackers have syphoned more than $718 million through security exploits. “After four hacks yesterday, October is now the biggest month in the biggest year ever for hacking activity, with more than half the month still to go. So far this month, $718 million has been stolen from DeFi protocols across 11 different hacks,” Chainalysis said in a report on Thursday.

Hackers now targeting DeFi protocols

The attacks have thinned across centralised exchanges, which bore the brunt of attacks in 2019. In the past two years, the attackers have shifted attention to DeFi platforms – with cross-chain bridges currently the most targeted. Per Chainalysis, October has seen exploits at three bridges and with close to $600 million stolen from these platforms alone. The attacks account for 82% of stolen funds in the past two weeks and 64% of heist suffered in 2022. 4/ Cross-chain bridges remain a major target for hackers, with 3 bridges breached this month and nearly $600 million stolen, accounting for 82% of losses this month and 64% of losses all year. pic.twitter.com/lQySX2ljKt — Chainalysis (@chainalysis) October 12, 2022 In terms of total value hacked in 2022, October is on track to surpass March. The number of hacks has also ticked up during the month, after declining since the March 2022 explosion. The thefts recorded in October have helped push the amounts of crypto assets towards 2021 levels, and with more than two months to go, hackers could yet hit record levels. “At this rate, 2022 will likely surpass 2021 as the biggest year for hacking on record. So far, hackers have grossed over $3 billion dollars across 125 hacks,” the analytics firm tweeted. The latest attacks on Temple DAO for over $2.3 million in crypto tokens and another $100 million hack on Solana-based platform Mango, add to some of the biggest losses seen this year. These include the Wormhole and Ronin bridge exploits that resulted in $325 million and $625 million losses respectively. As CoinJournal also recently highlighted, major crypto exchange Binance also recorded a cross-chain hack incident, pointing to the increased risk malicious actors pose to crypto and DeFi. The post Hackers have already stolen $3 billion worth of crypto in 2022: Chainalysis appeared first on CoinJournal. Read the full article

[archangelbb]

Crypte

beautiful crypte, manifestation

[jessadilla]

based on the latest official Apex comic.

Anxious Tae drinking at a party to calm his nerves and it isn't working, but then he sees a familiar face in the crowd and relaxes, vs Mirage seeing Tae cleaned up and immediately becoming smitten and getting caught staring.

[erusdeerus]

Quick warmup request from a few nights ago!