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60
joelkatz
JoelKatz
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511 Followers
4 Following
June 17, 2016
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joelkatz
ripple
7y
XRP/Ripple Summary
Someone recently asked on reddit for a summary of the case for XRP. This was my response. What is XRP? XRP is a crypto-currency that trades on a public ledger. The software is developed and maintained
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joelkatz
policits
8y
Fractional Reserve Banking
Is our banking system a "scam"? This post is a response both to several of Ron Paul's arguments against fractional reserve banking and a series of tweets between David Andolfatto and I. I'll
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joelkatz
steemit
8y
A way to stabilize the price of Steem dollars
The problem Currently, the price of Steem dollars is down to around $0.76, which is significantly off the $1 they're supposed to be pegged to. I think the reason for this is that it takes 7 days to convert
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joelkatz
politics
8y
Is cash incompatible with a free market?
Is cash really consistent with a free market? Bloomberg ran an article by Narayana Kocherlakota with the headline, "Want a free market? Abolish cash". The move to eliminate cash continues. But
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joelkatz
bitcoin
8y
Questions Bitfinex must answer
There are a lot of questions that people need answers to before they should trust Bitfinex with any of their funds. Also, read to the end to see why US customers should not attempt to sell their BFX. Is
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joelkatz
privacy
8y
The war on cash continues
The Wall Street Journal ran an article, The Sinister Side of Cash, arguing that we should phase out all large bills because they're primarily used for crime. Sorry about the paywall, but it's worth reading
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joelkatz
bitcoin
8y
Another huge problem with Bitfinex's bail in
I just realized there's another huge problem with Bitfinex "socializing" the theft loss. The thefts were from segregated accounts All of the funds stolen from BItfinex were in segregated accounts.
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joelkatz
bitcoin
8y
Bitfinex: DO NOT DEPOSIT ANY FUNDS!
If Bitfinex is insolvent, how are they taking deposits? And how can they allow withdrawals of new deposits? Bitfinex appears to be insolvent Bitfinex has imposed a haircut on all of their depositors. This
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joelkatz
security
8y
Avoiding the next Bitfinex
The problem: Bitcoins are notoriously difficult to store securely. The theft from Bitfinex shows that multisign is not a magic dust you can sprinkle over your wallet to render it immune from theft. Bitcoins
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joelkatz
theft
8y
Legal responsibility for the Bitfinex theft (aka "Bitfinexit")
So who might actually be liable for the Bitfinex theft and what hope might the victims have? The thief Obviously, the thief or thieves are fully liable. If they are caught, they can certainly be sued.
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joelkatz
security
8y
Bitfinex claiming the compromise was entirely on their end
We've heard from both Bitfinex and Bitgo that the compromise was entirely on Bitfinex's end and that no Bitgo systems were compromised. We all love to speculate from incomplete information. It's lots of
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joelkatz
security
8y
Did the CFTC order Bitfinex to store customer's Bitcoins in a hot wallet?
It now appears that the $70 million Bitfinex compromise may have been the direct result of a CFTC order requiring them to, effectively, store customer's funds in a hot wallet rather than a cold wallet.
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joelkatz
steemit
8y
Steemit is not a Ponzi scheme
I have seen quite a few people asking whether Steemit is a Ponzi or pyramid scheme and similar questions have been asked about other crypto-currencies. What is a Ponzi scheme? The term "Ponzi scheme"
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joelkatz
security
8y
Another reason we can't trust the government with our encryption keys
People who we think work for our government might also work for other governments. A FBI electronics technician pleaded guilty on Monday to having illegally acted as an agent of China, admitting that he
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joelkatz
security
8y
Are your small appliances spying on you?
This device was built by the Chinese government. It can be concealed inside a small electronic device such as an electric kettle or an iron. It looks for open WiFi, and if it finds it, it sends audio to
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joelkatz
recipes
8y
Huli-Huli Chicken Wings
Huli Huli Chicken Wings Not only in Hawaii anymore The umami of teriyaki, the zestiness of barbecue My wife and I recently spent some time in Hawaii with our daughter and her boyfriend. During one of our
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joelkatz
politics
8y
The war on cash
This article is a Steem exclusive focusing on how the way we are fighting financial crimes (KYC, BSA, AML) makes no sense, stifles innovation, violates rights, and doesn't actually fight crime effectively.
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joelkatz
humor
8y
How to keep out religious protestors
Do you want to keep religious protestors from disrupting your event? Here's an idea: Require people to sign a contract transferring their soul to the devil before they can enter the event. Make sure it
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joelkatz
free-speech
8y
That damn XKCD cartoon
Actually, I love the XKCD cartoon about free speech. And I do often see it cited for an appropriate purpose -- to explain to someone that getting kicked out of a private, online community is probably not
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joelkatz
privacy
8y
Cryptocurrency anonymity under attack -- EU to require mapping of wallets to IDs
Anonymity is under attack. The EU is considering building government databases to map wallets to individual identities: Here's the draft proposal from May of 2015: And now it seems they're adopting it:
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