landholder. decentralized crypto c 2013. barbell investment strategy. me manage billions in CRE IRL. learn and share.
United States
Joined February 2020
- Tweets21K
- Following635
- Followers434
- Likes40.7K
unbound 🐂 💩 retweeted
What if he just listened and parked that $90M in $XMR instead of getting cute with $ZEC? 🏴☠️🏴☠️
He’d be sipping something cold in the Bahamas right now instead of getting chain-analyzed into a federal case.
Jail time for the idiot who thought Zcach privacy was good enough. 🤡👋
To the person who took about $90M from Ledger users:
put it into $XMR, or I hope you rot in jail.
unbound 🐂 💩 retweeted
RE: AI: IT WOULD BEHOOVE YOU TO STOP WHAT YOU ARE DOING AND READ THIS:
1. It is a disturbing sign of the times when a company that claims its product may trigger human extinction gets to raise many billions of dollars of capital from bag-holding retail investors at what may be a trillion-dollar-plus valuation that only wealthy elite VC investors get to profit from. This may represent the clearest signal yet that corporate profits are the god of our society.
2. The "US vs. China AI race" is little more than a marketing campaign designed to tickle your amygdalae and scare you, via grave "national security" warnings, into allocating as much of your or your clients' life savings as possible to those who stand to gain the most power and/or profits from the AI capex bubble. @DavidSacks—Chair of the President's Council of Advisors on Science and Technology—confirmed as much in a recent @theallinpod episode:
“Speaking of the Dark Ages, so this is an interesting point from history. If you go back to the medieval time period, Chinese civilization was much more advanced than European civilization, and somewhere along the line it basically switched and the West basically took the lead. And some historians have pinpointed this to the decision of a single Chinese emperor to ban shipbuilding. What that allowed is the Europeans then basically colonized the whole world, and all the riches that flowed from that flowed back to Europe. And that's how Europe took the lead. And I think that if we were to do the Bernie Sanders thing, which is basically ban AI, it's like banning shipbuilding. Chinese civilization will rocket past us. They will be the ones that make all the discoveries and discover this new world and accrue all the wealth.”
3. If I’m wrong on #2, then I won’t be wrong on this: Your baseline assumption as an investor should be that China wins the "AI race." In our data-driven view, the odds of this potentially geopolitically destabilizing outcome are far greater than the odds of the US winning the "race"—however manufactured or real it may be.
Reminder: China's AI development has a structural advantage relative to US AI development when analyzed through the lens of STEM expertise. China's AI development also has a structural advantage relative to US AI development when analyzed through the dual lens of the cost of capital and the cost of tokens. China's AI development also has a structural advantage relative to US AI development when analyzed through the lens of energy. China's AI development also has a structural advantage relative to US AI development when analyzed through the lens of politics—which appears increasingly likely to slow the pace of US AI innovation and adoption. Additionally, China currently DOMINATES global critical minerals supply, at ~60% of mined production and ~90% of refined production. This is a trump card (pun intended) that China could use to effectively shut down a US military whose arsenal is being depleted via its latest round of "forever wars" in Ukraine and Iran.
Refer to our 9/21 and 9/23 Leadoff Morning Notes and our 9/26 Around the Horn webcast for more details.
I apologize in advance if any of this MATH or data-driven dot connecting offends the legacy NARRATIVES that you relied upon to underwrite the positions in your portfolio. My job is not to make you feel good. My job is to keep you and your family on the right side of market risk. Period.
Have a great day!
—Skipper 💜
WHAT MORON REGULATOR OR CORRUPT REGULATORY AUTHORITY WOULD ALLOW THIS COMPANY TO IPO??
CC @SECGov @DarioAmodei @AnthropicAI
unbound 🐂 💩 retweeted
The cypherpunk dream wasn't:
“Maybe one day BlackRock will package this into a financial product.”
Or
"I hope Daddy Government regulates us harder."
😂
It was to render these parasite middlemen irrelevant.
Peer-to-peer money.
Strong cryptography.
Individual sovereignty.
Make crypto cypherpunk again.
unbound 🐂 💩 retweeted
Markets move in cycles. Building doesn't stop.
The largest interoperability deployment in Cardano's history is underway. LayerZero connects Cardano to the broader crypto economy, bringing over 800 tokens and every major chain into one unified network.
It rolls out in phases: testnet, mainnet, Stargate, and developer tooling, culminating in one simple truth: by end of year, any asset deploys on Cardano.
The barriers are coming down, more soon.
iog.io/news/cardano-is-conne…
unbound 🐂 💩 retweeted
An oldie but a goodie. Just imagine how people like this are like when they aren’t being listened to… 😢
Would think a list of all these Cardano DeFi exploits could be made, including who audited them beforehand.
That business model has had close to zero revenue for years, and most are using AI in some form to bust the code they used to “prove” or “verify” was safe, or find errors they did not catch before. And alerting about the issue wouldn’t be as profitable as just exploiting it at this point. Plausible deniability. Zero accountability.
More than likely, they would be the ones best equipped to hack a chain’s DeFi. They may need to for lack of revenue, then try to fix anything they find while reviewing the code..
unbound 🐂 💩 retweeted
MIT mathematically proved that AI will destroy the democracy.
A Nobel-winning MIT economist published a terrifying paper called "Automation and Repression"
As AI and automation replace human labor, wealth concentrates heavily in the hands of a tiny group of capital owners. Inequality skyrockets.
When inequality hits a critical mass, workers realize they are being crushed and the threat of a popular revolt spikes.
Faced with that threat, the ruling elite are forced to make a choice.
They can redistribute the wealth through taxes, or they can use force to keep people down.
The paper mathematically proves a dark reality: there is a direct, inescapable link between automation and political repression.
The more capital accumulates through AI, the more the elite prefer repression over redistribution.
Why? Because sharing the wealth cuts into their power. Funding a police state protects it.
It gets worse.
The authors modeled what happens when an economy starts inside a clean, stable democracy.
As automation advances and capital concentrates at the top, the math shows that the elite eventually find democracy to be a liability.
They stop supporting democratic systems. They back a coup. They install a repressive system just to protect their automated wealth.
Nobody is voting to end democracy.
The technology’s economic incentives just make authoritarian control the logical next step for survival.
unbound 🐂 💩 retweeted
Go try to run a full zcash node and you'll see exactly why it is a pump and dump
The only use for zcash is to hold it at an exchange and tweet about how privacy is important
That said, the narrative will go far - it is a simple narrative and people are retarded
unbound 🐂 💩 retweeted
The expectation that AI agents in DeFi will only do positive things is short sighted. They’re going to follow profit.
Availability attacks seem like something inevitable that hasn't emerged yet. These attacks reward volume, persistence, timing, targeting, and managing costs for junk packets. Agents are going to be very good at this it seems.
Agents can flood a chain with junk until regular people’s transactions stop working and their wallets, the chain feels dead.
In many systems the cost of sending a packet is near zero, so the incentive is already there hiding.
AI agents will make it easy to keep creating sophisticated real looking transactions that can clog everything.
This type of attack is increasingly viable because perps stay online separate from a congested network can price fear and leverage can multiply it.
This attack vector is sitting right there. If a network keeps the cost of a packet near zero, it seems this is more or less inevitable.
Running the cost of attack vs profit in real time is something agents will also be very good at.
Certainly in for interesting times ahead. Give this a few years and see how it ages.
unbound 🐂 💩 retweeted
One thing before I start: everything in this post is public information from my own docket. None of it is new, and I'm not revealing anything you can't already find in the court filings yourself.
The retrial just got pushed to April 26, 2027. The order came down today (Dkt. 300). My acquittal motion is still sitting there, undecided. I honestly don't know when this ends.
Prosecutors are supposed to protect American interests and go after people who broke the law. A jury deadlocked on the two most serious counts against me. And still SDNY won't stop, because this case was never just about me. It's about setting an example.
Don't take my word for it. Tara La Morte, the chief of SDNY's Illicit Finance and Money Laundering Unit, said it herself at a New York City Bar Association event (Law360, Feb. 23, 2024; filed on my docket as Doc. 25-2):
"We want the industry to take notice."
"What we're trying to do is sort of bring the industry into compliance, and I think Tornado Cash is an example of that."
An example. Out of a developer who wrote code.
At that same event, her deputy praised the government's blockchain-tracing partner, Chainalysis.
Here is what they didn't tell the audience. All of it is from the public docket in my case.
According to the trial transcripts, Chainalysis was running its OWN Tornado Cash relayer, and earning fees on the transactions flowing through it.
- Chainalysis's own lawyers admitted to "a relayer node that Chainalysis operated"; my subpoena sought documents on Tornado Cash relayer(s) "used from March to August 2022." (Dkt. 211)
- In open court, the prosecutor said it plainly: "I think the parties agree as to that part of the testimony, that the Chainalysis relayer earned fees." Same hearing: "there's zero evidence that the defendant was in any way aware that Chainalysis was running a relayer." (Dkt. 259, July 25, 2025)
So the company that helped trace my "criminal" transactions was itself profiting from Tornado Cash transactions, while I was prosecuted over software I helped create.
And when my lawyers subpoenaed them to testify?
- Chainalysis moved to quash. (Dkt. 211)
- The government backed them: "Your Honor, we agree with the position outlined in the motion." (Dkt. 255)
- The night before, prosecutors called Chainalysis's counsel. The judge asked point-blank: "Did you let them know that they were potentially subject to investigation or prosecution?" The answer: "We have discussed at a high level some of the issues surrounding the relayer with Chainalysis." (Dkt. 259)
- The Chainalysis witness took the Fifth. My lawyers learned about that call only afterward, from Chainalysis's own lawyer. (Dkt. 263)
The jury never heard any of it.
This spring, at the Bitcoin 2026 conference in Las Vegas, something happened that I still can't quite believe. The Acting Attorney General, Todd Blanche, and the FBI Director, Kash Patel, sat on a panel called "Code is Free Speech."
Think about that. The two top law enforcement officials in the country. Blanche told thousands of developers: if you're a coder and you're not the one committing the crime, "you are not going to be investigated and not going to be charged." He said the last administration's crypto cases were "outrageous attacks on the industry." Patel praised "the Chainalysises of the world" as FBI partners.
And when the moderator pointed at the elephant in the room, my case, Tornado Cash, Roman Storm, the Acting Attorney General called it a "lingering case" they are "continuing to deal with."
So here is my hypothetical question. If code is free speech, why am I still being prosecuted for writing it? And if the Chainalysises of the world are the partners, the same Chainalysis that ran its own Tornado Cash relayer and earned fees from Tornado Cash users, while I never did, why is it off the hook?
They made an example out of a developer for writing code. Their own vendor ran the same infrastructure, pocketed the fees, and got a phone call instead of a prosecution.
Sources 👇👇👇
unbound 🐂 💩 retweeted
This doesn't make sense though.
Eth is considering adding utxos for payments, not smart contracts.
Similarly, cardano and midnight are adding accounts for smart contracts, because even cardano dApp developers find utxos a pain in the ass to work with.
unbound 🐂 💩 retweeted
The money printer doesn't hand out cash evenly. That's the part people miss.
New money enters at specific points. Whoever touches it first spends it at yesterday's prices. Whoever touches it last spends it after prices have already moved.
The order runs like this:
1. The central bank creates it
2. Primary dealers and large banks receive it
3. Government contractors and large corporations receive it
4. Asset owners receive it, as it bids up stocks and property
5. Wage earners receive it last, as a 3% raise
6. Savers receive it as a bill
Everyone in the first three slots got richer. Everyone in the last two paid for it.
Richard Cantillon described this in the 1730s. Nearly three centuries later the machine still runs, and it still runs in the same direction.
You were never going to save your way out of a system where your distance from the printer decides your outcome.
The only move is holding something the printer can't reach.
Drop a question below. I read every reply.
unbound 🐂 💩 retweeted
Recently, OpenAI shipped a plugin that lets ChatGPT read your Mac's Messages app, search it, and draft and send replies.
However, this feature essentially renders Apple's end-to-end encryption obsolete, because your messages are now sitting on OpenAI's servers in plaintext. The plugin needs Full Disk Access, Contacts and Automation. If you have Messages in iCloud switched on, that's potentially years of history, attachments and identities, plus every SMS 2FA code your iPhone forwards to your Mac.
OpenAI says it runs locally and doesn't build an index. Local execution isn't the same as local processing. The moment ChatGPT summarises a thread or drafts a reply using a hosted model, that content leaves the machine.
In 2025 a US court ordered OpenAI to preserve ChatGPT conversations for the NYT case, including ones people had deleted. Under the CLOUD Act, data in OpenAI's control is reachable by US legal process wherever it's stored, and they can be barred from telling you it happened.
Governments have spent a decade demanding a backdoor into iMessage and getting refused. This one installs itself, for free, with a toggle.
If you've enabled it, everyone who has ever texted you is in it, and none of them know.
Source @Paul__Walsh: paulfwalsh.substack.com/p/gi…
unbound 🐂 💩 retweeted
BREAKING: US Treasury Secretary Bessent says Treasury buybacks announced yesterday could now MORE than double, exceeding $4 billion per operation.
Bessent said buybacks will increase “by at least double,” adding, “we have a big toolkit, so we’ll see.”
This comes just hours after the US 30Y Treasury Yield erased all of its decline following Wednesday’s announcement.
As predicted in post #8 of our analysis below, buybacks and broader intervention are likely to be much larger than markets expect.
This is a band-aid on a gushing wound.
