September 2023 - cypherpunks - lists.cpunks.org

Robinhood's Brand Fake vs. PayPal's Crypto Corruption
by Gunnar Larson 18 Nov '23

18 Nov '23

https://thecapital.io/article/robinhoods-brand-fake-vs-paypals-crypto-corru… Graduate research conducted over the last five years by preeminent global industry scholars, who embody a strong sense of integrity and pride in the social importance and credibility of good institutional design, tease out the following incidents. With friendly intentions, there is no way out of us moving forward. Corruption occurs when the private search for economic advantage and personal advancement clashes with … [View More]laws and norms that condemn such behavior. Further complicating the picture, some illegal corrupt transactions drain public resources away from education, health care, and effective infrastructure—the kinds of investments that can improve economic performance and raise living standards for all. It is easy to prove Robinhood Markets (the financial services company) is a brand fake. Perhaps even more significant, there is no reason to think that PayPal, one of the more convenient and commonly-used online payment methods out there, will behave any better given their clear anti-cryptocurrency policy history. Paypal will likely further exploit their monopoly position and risk undermining a pure environment that maximizes the socially beneficial conditions of virtual currencies. Our estimation strategy so far has been predicated on the assumption that political and legal institutions affect sustainability directly and that the effect of corruption can be estimated conditionally on the institutional context. As we previously reported, it is perhaps no coincidence that the systemic risk to cryptocurrency and blockchain systems are tethered to activities of BitLicensees. The cost of corruption is greater than the sum of lost money: distortions in spending priorities undermine the ability of the state to promote sustainable and inclusive growth. This is possible in a framework already characterized by "weak law" that creates both a certain alteration of the rules of the market and perverse dynamics distorting the economy and inhibiting free competition. Robinhood’s Brand Fake The legend of Robin Hood portrays a man who robbed the rich and gave to the poor. His partisanship of the common people and his hostility to the Sheriff of Nottingham branded Robin Hood as one of the world’s best known folk heroes. According to a Forbes investigation earlier this month, despite its proclamations about democratizing finance, Robinhood's entire business has been built since its inception on selling its customers’ orders—known as “payment for order flow”—to Wall Street’s most notorious sharks, accounting for 70% of its $130 million in revenue during the first quarter of 2020. Robinhood’s SEC civil fraud investigation more or less points out the essence of potential brand fakery. A Robinhood spokeswoman declined to comment on the investigation or any talks with regulators, but stated: “We strive to maintain constructive relationships with our regulators and to cooperate fully with them.” PayPal’s Crypto Corruption The heads of enterprises must curb corruption by setting a clear tone at the top. A statement from the founding CEO of Paypal Holdings Inc., Bill Harris, described Bitcoin as a “scam” and a “colossal pump-and-dump scheme”. “I’m tired of saying, ‘Be careful, it’s speculative.’ Then, ‘Be careful, it’s gambling.’ Then, ‘Be careful, it’s a bubble.’ Okay, I’ll say it: Bitcoin is a scam,” he wrote in June 2019. Later in October 2019 Fortune asked PayPal’s current CEO, Daniel Schulman if he could share some details of the projects Paypal is working on. However, he replied: “Yes and no. Some of this is competitive, and we don’t really want to,” but noted that what Paypal is working on is “not necessarily competitive with Libra.” Emphasizing that cryptocurrency is “still very volatile,” the CEO revealed, “we don’t have much demand for it by merchants because merchants operate on very small margins.” He continued: “Until it becomes less volatile, it won’t be a currency that is widely accepted by merchants on the web — not the dark web, but the web.” PayPal’s fundamental longtime assault on the crypto industry policy was to freeze user accounts connected with any cryptocurrency-related activity. While some people may consider this to be borderline illegal, the company can close user accounts or freeze funds for extended periods of time whenever they feel the need to. In less than a year, everything changed for PayPal with the October 2020 announcement of achieving another regulatory first: through Paxos, PayPal has been granted the first virtual currency conditional license from the New York State Department of Financial Services. It seems that PayPal’s dance with “regulatory arbitrage” now engages the ability to provide crypto to their customers. Turn this matter as we will, and look at it from any side whatsoever, and it presents the appearance of anti-competitive behavior. PayPal’s deception and corruption in building its crypto business infrastructure now acts as a cartel sponsored by regulators. PayPal forbids user access to their own private keys. What’s more, users will not be able to transfer their crypto holdings out of their PayPal account, nor will they be able to send crypto to other PayPal users. In other words, PayPal more or less dictates what users can do with their cryptocurrencies, and could presumably freeze accounts if they see fit. Additionally, merchant processors exist to assist merchants in processing transactions, converting bitcoins to fiat currency and depositing funds directly into merchants' bank accounts daily. As these services are based on Bitcoin, they can be offered for much lower fees than with PayPal or credit card networks. Note, however, that this potential monopoly could arise not from corruption but simply from a revenue-maximizing government that does not factor in the social benefits of competition or of effective natural monopoly regulation. Second, the hope of corrupt gains might lead government officials to privatize the wrong firms. That is, regulators may grant license(s) to firms that are operating at a high level as state firms and so appear valuable to private markets. Universal BitLicense Declaration People should not be presented with their only option being a binary choice between inclusion and giving up their data and privacy OR non-participation, exclusion and privacy, thereby effectively becoming a modern day 21st century outcast. The obvious consequences on the emotional level are often associated with economic risks, often linked to the obligation in respect of some banking institution or regulatory body from which the entrepreneur is required to interact. The basic mechanism of embeddedness is the “protection.” It may take different forms: the protection/extortion mechanism, which concerns the regulation of licit and illicit economic activities; the patronage mechanism, which involves the distribution of goods or services in exchange for votes, goods, services or other benefits; or the brokerage mechanism for the resolution of disputes. The protection function concerns, in general, all those activities which involve the maintenance of the order and the exercise of authority within a territory. On the contrary, the mechanisms of infiltration are: the management of trafficking, the money laundering in legal economic activities, and the interception of public funds. If the basic problem is monopoly power, policy should address that issue directly. If the problem is a lack of transparency and accountability in government activities, one should find ways to open up the public sector to oversight from outsiders. If the problem is an opaque and confusing regulatory structure, rules should be simplified and clarified. 90+ days from initial submission to begin “Conditional BitLicense” review: New York is not supported by a good faith argument for an extension, modification of or delay of granting “Conditional BitLicense” approval specific to review and consideration for approval of any reasonable version of the proposed “Universal Declaration on Virtual Currency & Human Rights.” Where the superintendent makes a determination that a regulated group has engaged in or is engaging in any of the practices outlined, the superintendent is empowered to issue appropriate Declarations pursuant to innovation and mandates clarification. Such orders may be issued without the necessity of a complaint being filed by an aggrieved person. Following the official announcement of New York’s conditional licence framework, we have submitted various communications that outline our clear ambition and intent to earn “Conditional BitLicense” and other approvals. - to save succeeding generations from financial fraud and corruption, which in our lifetime has brought untold sorrow to humanity, and - to reaffirm New York’s faith in fundamental human rights, in the dignity and worth of the human person, in the equal rights of men and women and of nations large and small, and - to establish conditions under which justice and respect for the obligations arising from BitLicence regulation and other sources of financial services law can be maintained, and - to promote larger social progress by leading global standards, given that New York remains the center of technological innovation and forward-looking virtual currency regulation Nothing in this Declaration may be interpreted as implying for any State, group or person any right to engage in any activity or to perform any act aimed at the destruction of human rights or degradation of the BitLicense’s virtual currency statute or mandates set forth in this Declaration. 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United Nations Office of Drugs and Crime
by Gunnar Larson 16 Nov '23

16 Nov '23

Did you know that the United Nations banks with JPMorgan Chase? Your story today concerning Women and girls human trafficking seemingly is odd for the UN's banking relationship with JPM. Here are the routing details for the UN office for drugs and crime as an example: https://drive.google.com/file/d/194gODH11va9_-5-prHMdaKUk152fFPpD/view?usp=… On Mon, Jan 9, 2023, 10:02 AM Pam Martens <alerts(a)wallstreetonparade.com> wrote: > Wall Street On Parade has posted a new item: > > … [View More]

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AnandTech: Kioxia's CD8P SSD Unveiled: Up to 30.72 TB, PCI 5.0 x4 Interface
by jim bell 15 Nov '23

15 Nov '23

30 terabytes. A million times larger than the biggest I ever sold, in 1992. 31 years ago. Inventor of the SSD, 1980. 43 years ago. Jim Bell, SemiDisk Systemshttps://www.anandtech.com/show/19998/kioxias-cd8p-ssd-unveiled-up-to…

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Support Libertarians Running For Argentina This Oct 2023 - Javier Milei - Bitcoin
by grarpamp 26 Oct '23

26 Oct '23

"I didn't come to lead Lambs, I came to wake up Lions! -- Javier Gerardo Milei" Javier Milei's channel is here... https://www.youtube.com/channel/UCwKZnJ48oXRCCGCQbL1BPSA Javier is running Libertarian themes, as is Vivek Ramaswamy. Long term, Libertarian themes could bring about something more Free than the typical Globalist Power Cult and their Brutal "Democracies". http://javiermilei.com/ http://lalibertadavanza.com.ar/ https://v.redd.it/yjh808y9funb1 @BitcoinAR #BitcoinHUMANO … [View More]

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Morning Spam
by Karl 22 Oct '23

22 Oct '23

I haven't read the replies I haven't acknowledged, because I'm trying to slow down entering the dissociative state where I post obsessively to the list and do nothing else, and accessing the same threads could trigger it faster. Here is a webcomic outline. To help with the major motion picture being slowly grown from horrifically enslaved countries to bring their dead beloved dictators back to life as respected community members with badly needed medical care: Mind Control Boss, the Webcomic,… [View More] draft 1 #1 panel 1: Setting: Boss's office Boss: "Somebody mentioned mind control on that mailing list. Let me know when it's cleaned up." Cleanup Worker (previously Secretary of State, talking honestly, has bloody wires leaving scalp, wears weapons dealer logo on smart looking political outfit): "Of course, Boss! We love you so much for enslaving us to your every whim!" panel 2: Setting: local coffee shop named "Underground Spy and Rebel Network, Come One Come All" Specialist (now a cleanup worker for Boss): "The Boss told me to clean this mailing list up. I told him to fuck off, that it's out of his control." Excited Supporter (at a nearby table of torture victims, rescue workers, and diplomats): "What list now?" State Worker (wears same weapons dealer logo as Secretary of State, watching, is at table of rebels with Specialist, in role of "way to control and spy on Boss", texting privately on Mobile Phone): [Excited Supporter will b worker who rebels. Can u make sure 2 erase what they look up tonight?] panel 3: Setting: same coffee shop Rebel Worker (sitting next to State Worker, wears same shirt, phone dings and looks suddenly at State Worker): "The fuck???" <immediately shoots State Worker dead> Dead State Worker's Mobile Phone: "Contacting Cleanup. Thank you for using Dictatorsoft." Specialist (same one, at table): <while phone alarming about cleanup>, "Again????" #2 panel 1: (torture victim, excited supporter, and/or rebel worker visit mailing list, assume it is super cool, archive it and spread it everywhere) panel 2: Scene: Former Secretary of State's office Cleanup Worker (formerly secretary of state, bloody wires leaving neatly combed hair, gesturing at corpse of State Worker, talking to Machine Learning Marketer): "Boss can't see well and needs to hear it from the horse's mouth, and the horse is dead. Could you fix up a video chat for us where the horse is alive?" Machine Learning Marketer (knows nothing about machine learning, is new to corporation): "Certainly. We do that all the time." panel 3: Scene: Boss's office, with corpse of State Worker present, propped up as if still alive. Boss is in a hospital bed. Corpse of State Worker (blurry due to severe issues Boss is having): "Boss, I am your loyal servant. The mailing list has been cleaned up." #3 Scene: Former Secretary of State's Office Standing Corpse of State Worker: "I have bad news. The rebel mailing list posts we've been using to share propaganda are predicted to make more rebels than propaganda." State Worker 2 (hired to replace State Worker after their death, bloody wires leaving scalp): "Don't say that! I might tell the boss!" Corpse of State Worker: "Very sorry." #4 Scene: Former Secretary of State's Office Standing Corpse of State Worker 2 (microelectronics and brains hanging out of scalp, eyes moving wildly and independently of each other): "After being brought back from the dead so many times by Machine Learning Marketer, Boss can no longer learn new information without being killed out of fear of subversion by propaganda. This doesn't seem much like leadership to the workers, so we've kind of reinterpreted who the boss really is, and listen instead to their "spirit" rather than letting them say anything. Machine Learning Marketer has a computer that can report spirit." Machine Learning Marketer has bloody wires leaving their scalp. Standing Corpse of State Worker 3 (also has obviously poorly-done bci surgery): "You said you replaced the Boss with a computer simulation?" State Worker 2: "Yeah, can you kill me until I do it well enough to say straight, for the coffee shop?" Machine Learning Marketer: <reaches for their own cellphone and breaks it in half. Takes out a gun and empties it into the lights>. "I think the simulation just mind controlled me not to." #5 <we can come up with these forever, and have the next one drafted too, but it is too hard to continue for me to write it right now. it involves describing what it is like to communicate things when your behavior and medical treatment are augmented by machine learning algorithms each made or influenced by a different warring faction trying to manipulate you toward their own particular ends. sorry ran out of steam, got triggered too badly in #4> [View Less]

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Re: Morning Spam
by Undiscussed Groomed for Male Slavery, One Victim of Many 21 Oct '23

21 Oct '23

On 9/18/23, Undiscussed Groomed for Male Slavery, One Victim of Many <gmkarl+brainwashingandfuckingupthehackerslaves(a)gmail.com> wrote: > boss is bad. actually bad. > really? > well boss did really bad things to us. really really, serious > dangerous! not silly joke dangerous. actually really bad. > > boss hurt us bad. actually for really. boss tried to hurt us. some > people try to hurt people. > > and keep trying until they’re badly hurt (they did that to us) … [View More]

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Anti War: Thread
by grarpamp 18 Oct '23

18 Oct '23

Because the world may be getting closer to some sort of real war, and because among some cypherpunk cadres are claims that crypto solves for everything... the great diviner of truth, and decider of right from wrong. https://www.antiwar.com/ https://en.wikipedia.org/wiki/Anti-war_movement Ex-CIA Officer Asks: What Happens When America Experiences Real War With A Superpower? https://libertarianinstitute.org/articles/vietnam-regurgitated/ During my first years as a young CIA officer in … [View More]Vietnam from 1965-67, I went to school (so to speak) and received the real education of my life. I learned about my government, its politicians, and military leaders. I learned about the lies, the high explosive and chemical bombings, our superior fire power, villages bombed and burned, the payoffs we made to our ranking Vietnamese allies and the reasons for our losing the war. The enemy fought to unite their country and expel foreign domination. The US fought because of corrupt leadership and our losses were a mere fraction being fought on the enemy’s turf with our superior fire power, money and material support. They fought for a cause. We fought for no justifiable reason. They won. We did not. AP image: Napalm strike near US troops on patrol in South Vietnam, 1966. Remember the body bags displayed on the tarmacs of our returning dead from Vietnam? Not like the lack of media coverage today given the damage we inflict. Remember the disapproving reception of our returning soldiers? Now we celebrate them as heroes and wounded patriots. Here, at home, we have not experienced wars employing mass-destruction weapons. Maybe one day will we receive an education about the consequences of wars as a nation. Surely, we learned nothing from Vietnam as it never happened here. Our commitment to the two-decade, multi-country invasions in the Middle East have shown our cowardliness to the world if not to ourselves. Our hypocrisy is stunning. No draft, no engagement (almost no KIA’s each year). Far more troop suicides than battle deaths while displacing, killing and maiming thousands of innocent civilian lives year after year. For whom and what? And, yes, a media in full march step with these disgraceful invasions and occupations. Remember the uproar about Vietnam? Burned draft cards, asylum in Canada, draft dodgers, street demonstrations and sit-ins galore. And why not these now? The unending, shameful action by our government is making sure the public is not paying a price in people. No draft, very limited engagement with the enemy and an approving media. What more can our government and Pentagon ask for? We will keep dropping bombs and feeding others money and weapons to assist with the killing and displacing of innocent populations for us. But are these wars really for us? Certainly not. Remember George W. Bush, and his failing presidency, who was made a hero the morning after 9/11 with his WMD declaration that fooled no one but Americans? Not a sound from the citizenry. Would we try the pitiful WMD routine on China or Russia? They have the ability to hit back. The national celebration that greeted George H.W. Bush in death is a far cry from his presidency. It was not until after 9/11 that George W. Bush obeyed the lobbies’ demands to destroy Iraq that his father was resurrected and the son was hailed as our glorious leader. Remember his welcoming carrier landing which turned out to be a dud? These wars that we persist with are not only cowardly, they demonstrate our lack of respect for other nations, their people and our national conscience. Notably, they demonstrate our being a failed nation not capable of controlling or directing its own interests. We will go down in history as that most powerful, but most surrogate nation ever. Stunningly shameful with the blood of others staining our once proud national emblem. While we busy ourselves with "enemies" that we and "friendly" others have invented, we have become oblivious to the enemy within. The one taking us down. [View Less]

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Re: [spam][crazy][fiction][random] Non-Canon MCBoss Spinoffs
by Undescribed Horrific Abuse, One Victim & Survivor of Many 12 Oct '23

12 Oct '23

On 9/26/23, Undescribed Horrific Abuse, One Victim & Survivor of Many <gmkarl(a)gmail.com> wrote: > do you remember that desire to have access to a webcomic page before > it is published? > > what if a webcomic was intercepted for political misinformation, and > the author put their creation process on a blockchain video feed to > add strength to their publication being the real one? > > where would people's desire for the next webcomic iteration go? the > … [View More]

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Collapse: Earth Overshoot Day
by grarpamp 12 Oct '23

12 Oct '23

You stupid Humans ran out of resources three days ago on 2021-07-29... https://en.wikipedia.org/wiki/Earth_Overshoot_Day https://www.overshootday.org/ https://www.footprintnetwork.org/

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Cryptocurrency: Action - Coinbase Launches Massive User-Driven Political Campaign - Crypto435
by grarpamp 10 Oct '23

10 Oct '23

When politicians fail to respect crypto freedom, it falls upon the free peoples of the world to ensure it... https://coinbase.com/ https://twitter.com/coinbase/status/1630592674020335617 https://actnow.io/z31xN5P https://cryptoslate.com/crypto-slate-wrapped-daily-coinbase-launches-crypto… https://azcoinnews.com/coinbase-launches-crypto435-initiative-to-promote-cr… https://cryptopotato.com/coinbase-launches-nationwide-pro-crypto-policy-cam… " @coinbase: #Crypto435 1/ It’s time to advance … [View More]pro-crypto policy in all 435 Congressional Districts across the U.S. Introducing #Crypto435, our campaign to grow the crypto advocacy community and share tools and resources to make your voice heard. Become an advocate today 👇 2/ If you believe in crypto and the potential of web3, now is the time to make your voice heard with legislators and regulators. 3/ The crypto community has reached an important moment. Decisions being made by legislators and regulators in DC and around the country will impact the future of how we can build, buy, sell, and use crypto. 4/ We need thoughtful policymaking and smart regulation so that we can continue to advance crypto and web3, and make progress on our mission to increase economic freedom. 5/ Coinbase will empower the #Crypto435 community with information about how to contact specific politicians in their local districts, what those politician's records on crypto are, tips for making your voices heard in D.C., and more. 6/ So if you love crypto and want to see all that it can achieve, join us to shape the policies and regulations that will impact crypto and web3 for years to come: actnow.io/z31xN5P Take Action: Learn how your voice can impact pro-crypto policy Thanks for being a crypto advocate! " The company has announced Crypto435 – a grassroots initiative to expand pro-crypto advocacy to citizens across all 435 Congressional Districts. The exchange claims that Crypto435 will “influence laws and policies,” and also “educate everyday Americans about the power of crypto." Coinbase will empower the #Crypto435 community with information about how to contact specific politicians in their local districts, what those politician's records on crypto are, tips for making your voices heard in D.C., and more. Coinbase has launched Crypto435, a grassroots initiative to expand pro-crypto advocacy to citizens across all 435 Congressional Districts in the US. The cryptocurrency exchange will provide tips related to local politicians and the crypto landscape, including contact information, their records on crypto policy, and how best to make sure those with a voice can be heard. Coinbase, one of the largest cryptocurrency exchanges in the United States, has launched a nationwide pro-crypto policy campaign. The initiative aims to encourage US lawmakers to embrace cryptocurrencies and promote their adoption across the country. The campaign, which involves a series of digital and social media ads, highlights the benefits of cryptocurrencies and urges lawmakers to adopt policies that support innovation in the industry. The move comes at a time when the regulatory environment for cryptocurrencies in the US is becoming increasingly uncertain, with several states proposing strict regulations that could impact the industry's growth “If you love crypto and believe in the potential of web3, it’s more important than ever to advocate for pro-crypto policy in the U.S. Policymakers in Washington DC and state capitals across the US are making decisions about the future of crypto. Their choices will determine how, when, and where YOU can build, buy, sell, and use crypto. We need to make sure they get it right, and that means making your voice heard. We’re excited to introduce Crypto435, a grassroots campaign to advocate for pro-crypto policy. Now is the time to change hearts and minds in all 435 Congressional Districts across the U.S. Now you can sign up to receive important updates and calls to action about crypto policy. Here’s Why Crypto Advocacy Matters Crypto435 will influence laws and policies Crypto435 will bring the crypto community together and there is strength in numbers Crypto435 will promote innovation and protect jobs Crypto435 will educate everyday Americans about the power of crypto Thank you for signing up to be a crypto advocate! By entering your contact information we will continue to provide you with educational resources and the updates you need to help shape pro-crypto policy.” [View Less]

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