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WCN Bitcoin Group #98 – DAO White Hat Hack – BitFinex Crash – Brexit

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June 24th from Thailand: Here is the TLDR on the topics...

June 24th from Thailand: Here is the TLDR on the topics


1. DAO White Hat Hack: Here I discuss how and why “Turing Complete Smart Contracts” are Stupid. Also talk about how this move is collusion on the part of Ethereum Foundation & everyone involved should be held liable from the Creators of TheDAO to those doing the White Hack. This is the formation of Gov’t within Ethereum.

NOTE: In hindsight, the Ether in that White Hat Hacked DAO was later proven to have been used to dump ETC on exchanges to crash the price of the original chain that hey disliked:  Ethereum: Chain of Liars & Thieves by WhalePanda


2.  BitFinex Crash: I state the following “I don’t trade Bitcoin cause it’s too dependent on Leveraged Amateur Exchanges” and that is exactly what Bitfinex is. I also talk about differences between Exchanges in Brokers and how this separation does not exist in Crypto. Also mention Blockstream’s Liquid Project.


NOTE: Bitfinex was hacked 1 month after my criticism of the exchange for $75 Million


3.  Brexit: People are reading too much into the connection of Bitcoin Price and Brexit Vote. Also talk about many of the problems with EU



BONUS: Watch is awesome video of Bruce Wanker describing how he hacked TheDAO