Binance, the largest encryption volume, was hacked on Tuesday. The hacker took $ 40 million or 7000 BTC.
Binance had a chance to recover these funds. They could cut a deal with most hashpower miners. Miners would reverse the chain and get a share of the stolen money.
Binance this time decided not to make an appointment with miners. And as time goes by, the attack becomes more difficult. But all it took was a private phone call. The majority of hashpower is under the control of a handful of men. They can collect and reverse the chain.
The truth is that the rooks are not obstructed by the Bitcoin protocol (except low-coin coalitions), but instead of the social, legal and political reality of the Bitcoin community
CZ says "pls", Bitcoiners say "no "and requires tribute, so CZ says" ok! That's #immutable "https://t.co/zhFhBSt8SH
̵1; Vlad & ETH is not money & # 39; Zamfir (@VladZamfir) May 8, 2019
We were lucky this time.
The Binance incident has shaken the core of Bitcoin. The main criticism of Ethereum is now also valid for Bitcoin. In July 2016, Ethereum reversed a $ 50 million hack of DAO's smart contract. This made many angry, the Ethereum could change. This was a main criticism made by Bitcoin against Ethereum. But reversing DAO hack blockchain can also happen on Bitcoin.
For over two years, I have repeatedly tried to push the point that the cryptic movement is about more than just technology. It's also about politics.
The Binance episode shows that the Bitcoin protocol is not only protected by technology but also by political consensus.
We have ignored the social fabric that gives the crypto project its strength. We have focused on magic tricks and hope to be saved at the next innovation. But no new technique can store crypto.
The problem cannot be reduced to technical ideas such as a decentralized market, p2p exchange or immediate transactions. It's much deeper. We tried to construct the perfect system. A red gold mountain machine, where human robots strive for quick financial gain. And in exchange, the project has been filled with mass masters with a slave mentality who can only think of the level of the moon memories. All the good people are moving because we no longer offer the future.
And it has fostered a greedy penny-pinching mindset where people cannot think beyond their own quick self-interest or project name.
Our project is to open academies to train hackers who can work on projects that are critical to crypto survival but do not have direct financial rewards. These people must be hacker philosophers, multidisciplinary renaissance hackers. When I go to a crypto conference, there are a large number of talented idealistic youths looking for a place to lead their energy. We must make use of this raw material.
And many times over the past year I met with several millionaires about this project. They had no interest in putting $ 10k into something that, while not directly benefiting them, is the only hope of saving cryptos from certain deaths. But they were very interested in investing thousands of thousands into customs projects that will make a profit within a few months. We are in a sinking ship, and everyone is trying to climb on top of each other to get to the top.
Imagine for once this gift given to us. What a big change could happen. Why do we think small?
"Bitcoin is based on technological consensus" they say. But who makes the technology? How to name your function, the processes that allow new code, even the atmosphere of your discussion, shape everyone how technology evolves. It's never static. Bitcoin is more than rules. It is a movement, an ideology.
The longer we ignore this, the worse it will get. Last year at Bitcoin's top of $ 20k, I called the project to go wrong. We have since then had the worst market crash in the crypto story. Ideas shape how technology evolves. People are waiting for up. And it can be steady. But unless the content is not there, there will be no growth.
What inspires people to make ideas? Not money. Destiny, vision and purpose are the fuel of history. We are technologists. We have the power to shape the world. We have been given the opportunity to control the system of global finance. Why think little? Why waste this moment? Think big.
Our goal is to spread the world, anonymous digital black markets. Markets outside state control. No control over the economy.
First, we do not need help from global capital or regulators. We must declare total and complete opposition to the old order that we will replace.
Secondly, we must begin to explore the idea of the idea, technology philosophy, global geopolitics, computer history, and put them together into templates a vision of where we are going and the steps to get there.
Third, we must think beyond our own little place in the present to where we can get ahead. We must find the strength and the will to overcome ourselves, and strive for a great goal. Get strong. Enjoy our animal. We are an energy. Inside us is a seed.
There is a lot of work. We need wikis, exchanges, markets, currency, financial instruments, political decision making and much more – all of them dark and p2p.
The biggest drawers were the financial crises that presented themselves. We were not prepared to make use of them. We couldn't move quickly to earn from them. Instead, they passed by (Greece, Iran, Venezuela) and became news memories.
But the good news is that the contradictions to the system are growing. It can't maintain itself. Already nationalist and religious extremist groups are agitating to grow cracks and then move into the vacuum. This system of Western-led financial capital statistics matrix cannot continue. It will collapse.
And if we have made the foundation, when the time comes, we will be ready to call on our animal. We are the resistance.
Special thanks to Taylor Gunnoe, @cryptosleeper who inspired and edited this article
Pins and string image via Shutterstock