Rational thinker Cofounder @ISC_money

Joined March 2023
It's kind of interesting to see people's approach to risk. Many dont mind betting it all on 100% SP500, while also buying into every insurance that exists.
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Havent yet tried it, but thats FINALLY moving the needle forward in terms of security. xitter.cf/sanctumso/status/21133…
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One of the key metric to measure a fund manager is the ratio of his: - own exposure to the fund - his total net worth If the ratio is too low, the fund manager has an incentives to sell long tail risk.
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Time to stop saving home address beyond the shipping period.
We owe you an apology. On October 20, we detected unauthorized access to our official website. After verifying API activity with Shopify, we confirmed on October 23 that a third party obtained customer shipping information. You trusted us with those details, and we're sorry we didn't keep them safe. Exposed: names, contact details, shipping addresses, and order details (items and prices). Not exposed: payment card or bank details, recovery phrases, private keys, or wallet passwords. We've blocked access, fixed the vulnerability, opened an investigation, and are emailing affected customers. Scammers may pose as Keystone by phone, text, email, or mail, offering refunds, replacement devices, or "fixes" for your order or address. None of it is from us. NEVER share your recovery phrase or private keys, and NEVER enter your recovery phrase into a device you didn't order. We will never ask for them. Don't click links in unexpected messages. Type keyst.one yourself. A detailed report is coming soon. Until then, trust only our official channels. If anything feels off, email [email protected]. We'd rather hear from you than have you take a chance. Again, we're truly sorry to everyone affected.
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And people think putting tape on cameras was tinfoil hatting.
update: the facial recognition code is used by samsung tv's and returns bounded boxes around faces.
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Richard | ISC retweeted
3 in 4 Hyperliquid traders lose money. We dug into the data to find out why: for its earliest traders, fees made up over half their losses. We built Bullet to fix that, and keep traders in the game.
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Billions of man hours went into this clip. Both in engineering and training.
台风来临,台湾桃园机场飞机降落所发生的惊险画面,机长用生命换来的降落!飞机在台风中都无法回正,机长的驾驶技术真好!
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Root CA should be able to vote on decertifying other Root CA. If a Quorum of Root CA is reached, it would be automatically revoked.
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Smart devices were a dumb idea. Dumb devices are the future.
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Richard | ISC retweeted
Most things that are old/unmaintained will get exploited as AI advances. Swallowed up by the rising tide. This includes old smart contracts, even if immutable. If you have funds in wound down protocols, or protocols where the team has gone quiet, you should withdraw.
Apparently there’s a patch for the critical PHP vulnerabilities but a few things that are alarming. 1) Many websites that use php with sensitive information are simply abandoned. There will be no upgrade. That means they’re going to get pwned and leaked. That’s a LOT of the internet 2) This requires active participants to upgrade their sites that even know about this vulnerability. If you’re on X you’re at the tip of the tip of the spear. Most people don’t know about this. 3) Anthropic says that this is ONE of SEVERAL critical vulnerabilities that they have found. Which means there’s more chaos coming. TLDR: A large portion of the unmaintained internet is about to be pwned and god help us all or something like that.
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Turns out, Solana was 60% validator circle jerk
BREAKING: SOLANA TPS DOWN 60%
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Everyonr chasing AGI. In reality, we've all been playing with AGI for the last 2 years. Its just never going to be as "omniscient" as we imagined it would be.
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Tldr of why build on Solana. No queue.
.@papertrade_xyz trader experience: > you try to trade at launch, but whales with huge orders push you to the back of the queue > you can't open a trade for the first few hours > when you finally open your first position, you want to close it, but you get liquidated because of the long queue > you try to stake your $PAPER to make profit in the first hours - queue again > next day you try to trade and stake tokens, queues are smaller, but staking yield is no longer 99%, it's 1% > okay, you see premarkets appear on Paragon and Aster, hoping selling your $PAPER will cover your losses > Paper makes unlimited token supply and not transferable in the end you sit with a loss and tokens that will probably never cover your costs congrats
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I'll try to always buy from a company that work to "make their product better" and try to avoid those that "try to milk a bit more money off of you".
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Richard | ISC retweeted
Pretty funny to see everyone blame this (rightly condemned, to be clear) on whatever their political bogeyman is: I've just seen people say that this is because of, take your pick, "communism," "Islamism," "third worldism," "Russia," and "China". As if France needed any outside help to riot... Maybe some people need to brush up on our history, or read Victor Hugo's "Les Misérables"... This isn't to romanticize the rioters in the least. A reminder that in Les Misérables there's the figure of Thénardier, a horrendous scoundrel who exploits the chaos around him, robbing corpses and fleecing anyone he can. Every chaotic moment in French history has its share of Thénardiers, and this one is no exception. It's just too easy, and actually useful to those in power, to blame this on outside forces. At the end of the day, this anger was made in France, is happening in France, and can only be solved in France. And, as painful as it is to hear, if one studies history, this is pretty much exactly what's expected at the stage France is at. People have studied this. Whether you take Ray Dalio’s six-stage cycle theory, Peter Turchin’s "elite overproduction" thesis or the Chinese dynastic cycle framework, they all come to the same conclusion: when debt piles up, public services crumble and those in power become incapable, the streets eventually explode. In fact it's almost eerie how France ticks almost every box of most cycle theories: - Fiscal distress (debt is 119% of GDP and we now pay more to borrow than Italy or Greece), - Crumbling public services: a reminder that these protests (now turning into riots) started with high school students protesting over the state of education - Political paralysis and a legitimacy crisis (Macron has an insane 82% disapproval rate, he's definitely lost the Mandate of Heaven...) - Popular immiseration with a record poverty rate at 15.4% and a median wage at only €2,190 net per month for a full-time private sector employee (you can't even afford to rent a decent flat in any major French city with this) "Third worldism" or "Islamism" isn't the cause of any of this: French governments didn't borrow like there's no tomorrow (the last balanced budget dates back to 1974!) because the "Muslim Brotherhood" told them to, and it wasn’t Putin or Xi who left French classrooms without teachers... Sadly the reactions - scapegoating - are ALSO typical of this stage of the cycle: Dalio lists among the classic markers of Stage 5 the emergence of "scapegoat classes who are commonly believed to be the source of the problems" (linkedin.com/pulse/delving-s…), alongside a "loss of truth in the public domain," with people more interested in hunting for culprits than looking for solutions. So what is the solution? Well, the way the Chinese dealt with it was basically a reset - regime-changing themselves with a new dynasty claiming the Mandate of Heaven, usually after decades of rebellion and war. Not exactly a hopeful prospect... There is also the exception where a dynasty managed what the Chinese call a 中兴 (zhōngxīng, "restoration"): profound reform from within before the whole house came down. It succeeded a few times (e.g. the Tongzhi restoration during the Qing dynasty) but usually could only buy a few more decades, rarely more. In 1945, the writer Huang Yanpei famously asked Mao how to break free of the cycle (cn.vlex.com/vid/constitution…), framing it in those terms: "People are careful and hard-working at first, for bold measures are the only possible ways to break through difficult conditions. But when things gradually get better, people begin slacking off: laziness may spread through a long history and is impossible to be corrected when it becomes a common practice. Gradually expanded territory requires corresponding increases in talent, but when the latter is insufficient, the central control will become weak. In a word, no one can escape the 'vicious cycle' of dynastic rise and collapse." Mao replied that democracy was the answer, because "as long as the people can supervise the government, the government dare not slacken." And Xi later added a "second answer" (chinadailyhk.com/hk/article/…): a system capable of "resolute self-reform". The jury is still out on whether China has broken the cycle, but if France has any hope of escaping it, it will need both answers at once: a government that truly answers to its people, and very resolute self-reform. One thing the answer definitely isn’t: turning on each other. In all these cycle theories, division and scapegoating appear on the way down, never on the way back up.
⚠️🔴 À REGARDER JUSQU'À LA FIN JE NE PEUX PAS DÉCRIRE CE QUE JE VIENS DE VIVRE À MARSEILLE. #17octobre
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Why are people blaming immigrants?
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Users learning the rules.
> be me > be up 100%+ on @papertrade_xyz short > decide to close > stuck in an exit queue > 100% becomes 50% > 50% becomes 10% > 10% becomes -10% > Liquidated > Liquidation skipped the queue
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I'll shit on @ledger all day with everyone here. Having said that, Tangem and its model is just flat out worst. Read this post to understand why.
Tangem appeals to the lowest common denominator in crypto, that's why it's filled with bagholders from $XRP $KAS and affiliates paid peanuts to shill. I will make it simple for people to understand today. In December 2024, @Tangem had a critical vulnerability where its mobile app wrote users' PRIVATE KEYS into logs that got attached to support emails. They deleted early warning posts on Reddit. Inb4 "muh seedless, muh safe", yes, your keys never touch the app. Your TRANSACTIONS touch it every single time. The attack vector is the APP ITSELF and the OS it runs on. Read on. Tangem's Nirvana Fallacy is: seatbelts have occasionally failed, therefore remove seatbelts. Ledger/Trezor clear-signing bug: worst case, the screen lies about transaction parameters. Tangem's design: the (phone) screen can lie about transactions as the permanent baseline. >"Hardware Implant" Physical implants predate Bitcoin. They are device agnostic. The phone on which Tangem's app runs could have an implant too, what then? "Tangem Genuine Check" was exploited by Ledger already. Counterfeit Tangem Cards are not just theoretical: ledger.com/tangem-genuine-ch… >"Clear Signing Bugs" Clear-signing bugs are a failure of a layer Tangem doesn't have at all. Tangem signs whatever payload the app hands it, every time, by design. Car airbags have defects, even from Toyota, the most reliable car manufacturer that exists. Tangem's solution is to remove airbags altogether. Both Ledger and Trezor vulnerabilities are routinely patched. You can never patch your laser vector: donjon.ledger.com/blog/bypas… Or tearing vector: ledger.com/blog-brute-force-… ...because there's no update channel for users. Your security page still advertises resistance to "fault injection attempts". Donjon's laser attack IS fault injection. It works and it's unpatchable by you. [Eureka Moment] @Ledger and @Trezor clear signing bugs were discoverable BECAUSE the trusted display can be audited against what it signs. In Tangem's model, there's nothing to audit. Read that back slowly because it's easy to miss. It's evidence the architecture is testable. Ledger/Trezor is like bank that publishes audited accounts. It will occasionally have an auditor find an error: 1. Construct a transaction. 2. Record what the device displays. 3. Record what the device actually signs (the signature reveals exactly what was signed). 4. Compare the two. Tangem is a bank that keeps no books. Therefore it will never have an accounting error found: 1. Construct a transaction. 2. Record what the app displays. 3. Record what the card signs. 4. They differ: the app showed one address, the card signed another. In Tangem's case, there's no vulnerability because Tangem never promised those two things should match. The card signs whatever payload the app hands it. The system is working exactly as designed. It's the default behavior for a compromised OS. >"And more hardware components can introduce more attack vectors." So your solution to a purpose-built trusted display driven by minimal firmware (Ledger/Trezor) is a whole ass smartphone, running a full OS, with millions of lines of code and attack vectors. Genius. >"muh security hardened app" You never replied to my original post here because you can't: xitter.cf/HalesFall/status/20767… Tangem was also audited by Riscure in 2023, yet you still got smoked by Ledger later: tangem.com/en/blog/post/tang… Not even Apple or Google can defend an app from a kernel-level exploit on their own OS, that's why Ledger/Trezor don't try. They verify OUTSIDE the blast radius. Your "hardened app" lives inside it. [Latest Exploits] See the videos attached, there's tons more I haven't included. You have neither the money, resources, or expertise to defend from OS exploits. How many of your users are even using Pixel 8 series and later, or iPhone 17 series and later? That matters greatly too. Your "app" layer is dead-on-arrival. Ledger & Trezor provide mitigation where you cannot. Tangem is more akin to a software wallet because it implicitly trusts a compromised OS. The secure element is theatre since the card will sign anything passed to it.
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Isnt the papertrade model effectively a return of FTX+Alameda system? People trading against their own money. If the house is profitablr, they make big bucks. If it doesnt work out, oops, get in the queue to maybe get paid out. All without any risk control whatsoever.
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Richard | ISC retweeted
I don't usually do long posts, but I wanted to thank the @SuperteamSG community for banding together to help make Solana Summit a success :) Solana Summit had 7K+ builders and traders from 110+ countries signup, and generated 2.3M+ impressions from 2.3K+ posts on X. But just two months ago, we had no sponsors and no sign-ups. That's when the community stepped in to help and became our first believers. @nansen_ai doesn't usually do booths, but they trusted our idea for doing an interactive trading personality quiz. Thank you Ingrid and @ASvanevik @MeteoraAG's trading game and protein drinks were a highlight, with long queues all day. Claps to @0xmiir, @0x_Malc, @pranave and @dannxbt! @SafePal designed a limited-edition Solana Summit wallet on a crazy tight timeline and gave them out as prizes. Thank you @CheongCJ1, @V_SafePal and Dada! @sanctumso hosted their VIP happy hour inside the summit. Thank you @eggpanned, @soleconomist and team! @traded_gg gave so many people their first-ever Pokémon card opening experience. And when I complained coffee was too expensive, @JupiterExchange sponsored it. Thanks @eleesatt! And then the circle kept widening: @SuperteamKZ introduced us to @kase_kz (Kazakhstan Stock Exchange), who were super cool and nothing like the boring TradFi folks I'd imagined. @decentra1ized_ introduced us to @KoreaPanda_ from @ZetaChain, and we got to be part of their Solana launch! @Helius and @debridge sponsored the VIP brunch and lounge. Thank you @bradyowen, @Sherrypeter and @EmsleyJonnie! @SuperteamMY rallied Superteams across the region and turned the summit into a real Solana APAC gathering. Thank you @tuakdotsol :) No one just came to just network. Everyone pitched in to make this a success. @shizudio agreed to MC last min, @yx3142 giving us free discounts for solana summit @OnchainAditi helping out with the hectic ops, and the superteam community members just helped out at every step along the way whether its inviting ppl or sharing on socials. And most importantly, thank you @0xSoju and @xianxlb. Two months ago they asked me, "Kimmi, how important is this summit to you?" I said "100%." And the rest is history. They've just been all in ever since, pulling many late night shifts together and helping out all the way. Solana Summit was truly built together, as a community, as an ecosystem, and I'm so grateful to have been part of it 💜
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