Hacker News Reader

mteam88on DJT Stock: Trump Media Isn't a Meme Stock, It's a Cryptocurrency

That's literally wrong and a gross misnomer.

mteam88on Ethereum has blobs. Where do we go from here?

L2s do not fundamentally add any significant UX complexity.

There are some wallets that make this a pain (Metamask) but newer wallets like Rabby (https://rabby.io) and Rainbow are huge improvements.

mteam88on Ethereum has blobs. Where do we go from here?

Farcaster is not a tool for building social applications. It is a social network with 70k+ DAU [1] You can use it through multiple frontends, the officially developed one is Warpcast [2]

[1] https://twitter.com/dwr/status/1774490997789241709 [2] https://www.farcaster.xyz/

mteam88on Financial systems take a holiday

If the weekend rule was not part of the given schedule.

mteam88on Spot Bitcoin ETF receives official approval from the SEC

Bitcoin is inflationary. It will never be deflationary.

mteam88on GitUI

I agree, I generally tend to prefer rust tools, like Alacrity.

mteam88on How can we stop many instuitions and retail failling for Bitcoin Scam?

Bitcoin is not a scam. Please do some research and try to understand Bitcoin from first principles.

mteam88on Container2wasm: Convert Containers to WASM Blobs

Would recommend checking out the container examples, they are suprisingly fast.

https://ktock.github.io/container2wasm-demo/

mteam88on Making small games, which is fun in itself

In the first game pictured, timber test [0], you can spam cut repeatedly to get some pretty high scores.

I love finding little strategies like this. This is only possible in games with a tiny feedback loop, which I think makes them fun to play on a whole new level.

[0] https://abagames.github.io/crisp-game-lib-11-games/?timberte...

mteam88on Tether reveals partnerships with Secret Service, FBI in letter to U.S. Senate

Tether makes money from interest on the funds that they do actually have. Maximizing the amount of money that they hold would actually increase the amount of profit they make. They have no incentive (and a pretty strong disincentive) to be insolvent.

mteam88on Tell HN: Cryptocurrency transactions >$10k require filing IRS Form 8300

That is true. Crypto is not faster/cheaper because of a technological breakthrough. The reason crypto can be faster/cheaper is because it cuts out the middleman. The traditional financial system is full of incumbents and middlemen who take a cut of every transaction. Crypto rebuilds the financial system from the ground up and removes ALL middlemen. Instead of verifying the legitimacy of a transaction using a trusted third party, crypto uses cryptography. The same kind of cryptography used in PGP or encrypted email.

Crypto is a disruptive technology class that many incumbents hate because it literally removes them from their powerful position as a middleman. There are usually at least 3 middlemen in every credit card transaction. [0] Combined, these come to a fee of (on average) 2.24%. [1] There are zero intermediates involved with a crypto transaction. The total fee on Solana (the leading payments blockchain) is less than $0.01 for any amount transfered. A 1 million dollar transfer on Solana costs the same amount of fees as a 10 cent transfer.

> a creative way to evade banking regulations. Coinbase, the leading US crypto exchange, has been trying to get regulatory clarity for years [2]. Crypto wants regulation, but the SEC refuses to provide it. The SEC would prefer to "regulate by enforcement" [3]. It sounds to me like the SEC is the one trying to avoid having to create banking regulations...

[0] https://www.managementstudyguide.com/intermediaries-to-a-cre...

[1] https://www.fool.com/the-ascent/research/average-credit-card...

[2] https://www.forbes.com/sites/digital-assets/2023/12/15/coinb...

[3] https://www.goodwinlaw.com/en/insights/publications/2023/05/...

mteam88on Tell HN: Cryptocurrency transactions >$10k require filing IRS Form 8300

> Let's be honest, if it was cheaper and faster, it would be the standard, right?

Except that the US regulatory system hates crypto for some reason. SEC has repeatedly denied requests from coinbase for regulation. Like wtf?

mteam88on Expert Predicts Bitcoin's Landmark Surge

Lost/burned tokens are not included in deflation calculations. We don't include lost dollars in the USD inflation calculation (afaik). The amount of circulating Bitcoin in circulation increases due to mining rewards.

Losing/burning coins should also become less notable over time as more people use better Bitcoin storage options, it's not built in to the protocol.

mteam88on Expert Predicts Bitcoin's Landmark Surge

Are you aware of the point of a decentralized blockchain? Of a permissionless system? Bitcoin is both. Anyone (with access to texting) can buy + use bitcoin. That is about as permissionless as you can get.

"use it wisely" ??? What does this even mean? I don't think anyone actually thinks of large bitcoin holders as "the very, very few who can use it wisely."

PS. Bitcoin is not deflationary, it inflates at <2% per year and will continue to inflate until it reaches the 21 million cap. It will never deflate. Ethereum is roughly deflationary. [0]

[0] https://ultrasound.money/ (toggle BTC supply on + view a longer time frame)

mteam88on If there is a next generation crypto wallet, what are you expecting from it?

Crypto != Bitcoin.

The leading innovative payments chain is Solana. 0.5% flat fee? I can do you one better < $0.001 for ALL payments regardless of size. It already exists today and is handling hundreds of millions of $ of volume.

If you want to see a Venmo-like application on Solana that is live, see Code [0].

PS. There are other blockchains that offer similarly low ( < $0.01) transaction fees. Solana is being used by Visa [1] and other leading payment infrastructure providers. (:

[0] https://www.getcode.com/

[1] https://usa.visa.com/solutions/crypto/deep-dive-on-solana.ht...

mteam88on If there is a next generation crypto wallet, what are you expecting from it?

Huh? Every single one of these things is being worked towards by crypto companies.

1. Seed phrase security -> Ledger, Safe Multisig [3], Privy (sso for wallets) [0]

2. MFA for crypto wallets -> Ledger, Safe Multisig [3]. Both recommended by the crypto community.

3. Warnings pre-transaction for suspicious signing requests -> Fire Extension includes warnings [1], wallets like Rabby [2] include presigning warnings, Safe Wallet [3] includes simulations builtin

4. Wallet insurance -> A few startups [4], provided by crypto exchanges, generally not needed with other precautions in place.

* Easy onboarding

1. Easy onboarding -> Account Abstraction in general [5], Alchemy infrastructure [6], Privy wallets [0], Coinbase Wallet-as-a-Service [7], Magic.link wallets [8] and MANY more .

* UI/UX 1. Hard to use/exotic -> Crypto IS exotic. Wallets like Coinbase Wallet [9], Rainbow Wallet [10] abstract away most of the crypto details. Phantom Wallet [11] has a great UI/UX.

[0] https://www.privy.io/features/auth [1] https://www.joinfire.xyz/ [2] https://rabby.io/#:~:text=Pre%2Dsign%20check%20for%20Securit... [3] https://safe.global/ [4] https://boostinsurance.com/platform/crypto-wallet/ [5] https://metamask.io/news/latest/account-abstraction-past-pre... [6] https://www.alchemy.com/account-abstraction-infrastructure [7] https://docs.cloud.coinbase.com/waas/docs/welcome [8] https://magic.link/docs/authentication/overview [9] https://www.coinbase.com/wallet [10] https://rainbow.me/ [11] https://phantom.app/

PS. "Debunked and dumb ideas" is a gross generalization. Please provide details about how "crypto" has been "debunked" ?? Human greed fuels the capital markets of the USA. All innovation boils down to human greed at some point. We all want "cheaper, faster, easier" so we innovate to get there (insert crypto here.)

mteam88on Tether reveals partnerships with Secret Service, FBI in letter to U.S. Senate

No?

Tether is an insanely profitable company, they would be able to fill any hole in a few years purely from profit. That is besides the point though.

There is no (literally 0) evidence that Tether is not solvent. Tether itself has been audited [0] and has hundreds of millions MORE reserves than USDT issued. Tether is the opposite of the fractional reserve banks in America. Tether is MORE solvent than major US banks (before federal bailouts.)

> "Tether is a well known scam." Huh? Hundreds of thousands of real people use Tether to transact monthly. Seems pretty legit to me?

I will concede that Tether has made some strange choices by choosing a smaller Italian firm to conduct their audits, but this is very different than a "well known scam."

[0] https://tether.to/en/transparency/#reports

P.S. if you want to discuss 1 on 1 my socials are in my bio

mteam88on Tether reveals partnerships with Secret Service, FBI in letter to U.S. Senate

That is an unfounded assertion. SBF et al committed a crime and defrauded thousands.

Tether is a profitable business cooperating with the US govt.

Please don't dispense slanderous accusations unless you know what you are talking about.

mteam88on Tether reveals partnerships with Secret Service, FBI in letter to U.S. Senate

I think it relates to this quote from the article:

"Tether is grateful for the opportunity to address the concerns raised by U.S. lawmakers, and we are committed to continuing Tether’s close work with law enforcement in the U.S. and globally. Tether seeks to be a world class partner to the U.S. as we continue to assist law enforcement and expand dollar hegemony globally."

~ a dedication to working together in the future

mteam88on X/Twitter has updated its terms of service to let it use posts for AI training

I disagree. The change is recent and a rebrand isn't necessarily a failure if people take time to switch.

In twitter's case, they built a lot of culture around "tweeting" and the bird theming. The fact is that none of those are going to change soon.

mteam88on UX design patterns for loading

This was my thought as well. Virtualization can reduce performance impact, but I like their point for pagination, that it gives users a specific place to link or reference.

mteam88on LLama.cpp now has a web interface

Are these comments about the CEO bots?

mteam88on Ask HN: Could you share your personal blog here?

https://mteam88.github.io/

MEV, crypto, tech in general

mteam88on Ask HN: Could you share your personal blog here?

Great content! I love your style of YouTube

mteam88on How to build a website without frameworks and tons of libraries

Agre except have used astro with good success

mteam88on New exoplanet found orbiting twin suns

Reminds me of the planets from the Trisololaris System. (From the Three Body Problem by Cixin Liu)

mteam88on Phishing Darknet Users for Bitcoins

Yes. Whitehatting is ethically fine if you actually know they are scammers.

mteam88on Social media for AI bots: “No humans allowed”

Why edit at all? Just upgrade to gpt-4 and you're good (:

mteam88on Decoupling a core service from your monolith the right way

My blog is hosted on GitHub pages on astro[1]. I'm considering mirroring to Medium and Substack to get more SEO. In the spirit of POSSE: https://indieweb.org/POSSE

[1] https://mteam88.github.io/

mteam88on Rsh: Ruby SHell

Or dual boot (: