Tether Has Consistently Failed the Biggest "Proof" of Reserves Ever

You want to know what the biggest proof of reserves there is?

Actually redeeming Tether for real fucking dollars.

If they did that, then they could tell this channel, Bitfinexed, and everyone else to shut the hell up and go away; and to some extent, we'd be forced to do so - or at least address the clear dichotomy in the idea that Tether could be handling redemptions and insolvent at the same time.

Nobody Has Ever Went on the Record and Confirmed Successful Redemption of Tethers

At least not since 2017 when Tether lost all of its banking.

But we can speak on hypotheticals all day. If we really want to show that Tether is the fraudulent organization that we all know them to be, then we should provide evidence that they're connected and/or tied to criminal activity of some sort in an undeniable manner.

Crypto Capital Co.

As if Tether's activities weren't bad enough, we've found out that their payment processor (Crypto Capital Co.; by virtue of Giancarlo Devasini's leaked conversation by the NY Feds) was engaged in assisting the Colombian Cartel with laundering hundreds of millions of dollars in drug money.

But that was in another jurisdiction that Tether was in (Poland)

How Bitfinex Sent >$150M to Huobi Secretly During a "Chain Swap"

Tron has been a great go-to for Paolo since he's been on social media.

Unfortunately, its not that great when someone knows how to track down your movements on the blockchain.

https://librehash.org/dissecting-how-bitfinex-covertly-sent-over-150-million-to-huobi-via-chain-swaps/

Harvard Claims They Could Compromise Ethereum 2.0 Entirely For $505

Anyone know if Ethereum addressed this yet?

Link = https://arxiv.org/pdf/2102.02247.pdf

"The attacks are relatively cheap to execute. While the market capitalization of Ethereum is over 55 billion USD as of November 2020, the finality delay attack would cost on the order of 500 USD and the chain reorganization attack would cost on the order of 5 USD."

Do Not Buy NFTs

Took a little while, but the full concept has been digested...

Quick Couple of Tips Before You Rage Over This

1. If you're an artist, ignore this and go make your money however you can - be an honest person about it and be clear about what's going on.

2. If you would like to be a connoisseur of this "artwork", don't. Your artwork is not being stored on the ledger itself.

"Opensea.io" is just a regular website. That's where your "artwork" is at. If that website were to ever go down, then so would your work. In fact, there's no promise on OpenSea's behalf that they'll ensure that their operations remain solvent for at least X number of years... so hopefully they do !

Constraints of the Digital World Make Leveraging Authentic Artwork Impossible

Beyond what was described above, the fundamental nature of digital communication makes it impossible for you to "own" any exclusive artwork in the same way someone owns Mona Lisa.

We know that Leonard da Vinci painted the Mona Lisa. In the art world that is the only legitimate Mona Lisa. Ownership over it is physical, so sole possession is something that can be appreciated.

In the digital world, ownership is not physical, but rather theoretical. Thus, unique artwork (1 of 1) molds will never have any inherent value in the real world.

This makes the 'unique artwork' hustle a complete ponzi scheme at this point because the general public are mostly under the impression that people are buying these pieces like one would purchase art from a gallery. But that couldn't be further from the truth.

NFTs Disappearing

This article by Vice News essentially exposes the entire ponzi that NFTs are (at least if you're using them to purchase unique "artwork" ; protip: don't do that) - https://www.vice.com/en/article/pkdj79/peoples-expensive-nfts-keep-vanishing-this-is-why

Going Over This Article Briefly

1. There's a user named John Doe that buys unique NFT artwork on 'OpenSea' (the premier website that handles most of these auctions). He pays $500, which is a bit expensive - but hey, he loved this artwork!

2. John Doe comes home one day and, to his dismay, when he attempts to access the URL where he believes his unique NFT artwork is stored, he's greeted with a "404".

3. Now John is panicking slightly because he knows that he was never hacked at any point since purchasing the NFT, was he scammed?

This is the sad point in John's story where he'll be forced to come to the realization that the only part where blockchain comes in is to "stamp" a record on the chain with a pointer to a URL within the transaction.

But the actual MIME data (multimedia) is not stored on the blockchain. Instead, its stored on 'OpenSea', which is a regular website - not blockchain.

Everything about how NFTs are constructed is completely theoretical (and fraudulent because this has not been conveyed to the general public). And any entities that are participating in these NFTs to get filthy rich must come to grips with the fact that they're doing so purely at the expensive of others in this blockchain space.

Grayscale Just acquired a Ton of Crypto For Their Trusts


Specifically, they picked up more crypto for:

1. Filecoin

2. Livepeer Token

3. $BAT

4. LINK

5. MANA

6. ZEC

7. XLM

8. LPT

If you're wondering where that chart was obtained from, here's the URL: https://www.bybt.com/Grayscale

Its useful to keep track of what's going on w Grayscale

Bombshell Twitter Thread That Maps Out All of the Ethereum USDT / Tether

Looks like Bitfinex & Binance are sitting on at least 15B+ USDT between the two of them alone (at least according to the blockchain analysis).

https://twitter.com/librehash/status/1377752738113728512?s=20

Edit: Sorry I'm a fucking idiot and misspelled 'rampant' in that initial post ; don't discount the quality of information disseminated in that thread because of that though.

Been a while, but feeling like the old Cryptomedication again.

Should be fun to see what the responses are.

They'll probably ignore it - until the Tron blockchain analysis comes out & publicly publish all of the wallets that they own on Tron (you'd be surprised who owns what ; and also worried to know that >30B has been moved on to exchanges in the past 5-7 months).

This thread is not nearly as good as it could be: https://twitter.com/librehash/status/1377752738113728512?s=21

Ran into multiple errors on Twitter that forced me to essentially recreate the thread multiple times over. It appears that the pictures are published in the wrong slot on certain tweets (not even sure how the fuck that happens)

Apology From This Channel to You All

Regardless of the reason for the errors, you have my sincerest apology.

Clerical errors reflect a lack of discipline and laziness. And you all deserve a lot better than that.

I'm frustrated with myself because it is critical that you all receive this information in an intelligible manner.

I will make a concerted effort to make this up to everyone that is following this channel. You can bank on that.

IRS Bounty on Monero is Not Just For Tax Investigations

URL = https://www.justice.gov/usao-edny/pr/founder-international-cryptocurrency-companies-indicted-multi-million-dollar-securities

This screenshot is from the Department of Justice's website, where an unsealed federal indictment against a prolific scammer in the cryptocurrency space.

The highlighted sentence says, "This case was investigated by the FBI and IRS-CI."

To be clear, the entire case hinges on blockchain analysis conducted by these organizations.

Also, the main defendant here is a non-U.S. citizen; so doubtful that the IRS was assisting the FBI in hopes of extracting unpaid taxes

Why This is Being Stated

Monero is a cryptocurrency that a lot of people depend on to be as private and secure as it claims to be.

For those individuals, a failure in any of Monero's privacy / security assurances spells certain disaster.

If this is something that nobody cares about, then no harm, no foul.

But if there are people that care, then this is an issue.

Chainalysis and Integra Were Reported Winners of the IRS Bounty on Monero

You remember the bounty that was put out by the IRS a few months ago where they announced they were willing to shell out >$1 million to pay any entity on God's green earth with the ability to trace Monero transactions?

There was a taker. Chainalysis and Integra. They won the contract in October 2020.

https://news.bitcoin.com/chainalysis-and-integra-win-1-25-million-irs-contract-to-break-monero/

Monero Users Have a Finite Timeline

1. The IRS forwarded both entities (Chainalysis and Integra) $500k a piece to start working on an adequate solution to trace Monero addresses (rest due upon turning in a successful prototype)

2. A working submission is due in eight months ; that's June 2021, which is a whopping two months away from today.

3. "Testing and development will occur in the ensuing 120 days" (that means they'll be mastering this tool in the 120 days following the successful submission of a solution in June 2021)

This is not a vague whimsical idea by the government.

This is why I blew the fucking whistle on Monero and considered forking the project.

If the known issues are not fixed and/or brigaded against and not taken seriously, then Monero's privacy assurances will be compromised.

This isn't fear mongering or FUD, its just reality.

Why its Likely Chainalysis Will Be Successful

This is a little less intuitive than you may imagine - but I don't think Chainalysis will be successful because of their valuation, vast resources at hand, or "experience" / years spent researching & examining transactions + performing an analysis of them.

Chainalysis will be successful because Monero (Cryptonite) was built with a very heavy influence by Blockstream.

By that, I mean things like:

1. Stealth addresses

2. TXOs (as a concept)

3. Deriving subkeys from a "master address"

4. 'Confidential Transactions' (Gregory Maxwell's idea specifically)

Look at "Fluffypony"

Notice how all the "blockchain animals" are affiliated with Blockstream?

1. Chikun (Charlie Lee) - Former Coinbase employee, advocates for Lightning Network & Bitcoin solutions perhaps even more so than Litecoin itself, is invested directly into the Lightning Labs (where Elizabeth Stark works)whale. Also invested into Pixelmatic - another Blockstream construction

2. "Fluffypony" - going to get to this guy in just one second

3. "Excellion" - Samson Mow ; CTO of Blockstream for quite some time

4. "Whalepanda" - A major whale in the Bitfinex trading community (whalepool) ; here's a tweet that should provide pretty unequivocal proof of that - https://twitter.com/WhalePanda/status/1196807799205961728?s=20

Chainalysis is Owned by Digital Currency Group

You can corroborate that using information directly on their main website (dcg.co/portfolio).

As a major supporter of the Lightning Network as well as most (if not all) agendas that are pro-Bitcoin (or pretend to be), DCG has been a life blood for Blockstream (in more ways than one).

Thus, having individuals placed within Chainalysis that are extremely familiar with the Bitcoin ecosystem, its developers as well as the 'ins' and 'outs' of how it all works gives them a major advantage in dissecting Monero down to its roots.

Proving That Ethereum is Not Decentralized

This was done in a Twitter thread here: https://twitter.com/librehash/status/1378484286722994179?s=20

This thread is of noticeably higher quality than the ones that you read in the past.

The only issue here is that the thread is cut off prematurely due to (yet another) "error" by Twitter (extremely fucking annoying).

Additional information is being appended to the end of this thread as speak. No stone was left unturned here in this claim.

Any and all are invited to rebut the claims made within.

Extended the Thread to Expose Archivenode.io

They claim that they provide the general public with free access to an archive node at 'archivenode.io'

This is patently false. And since they received $35k in donations to provide such a service (yet are failing to do so), this is also a scam.

This was exposed here: https://twitter.com/librehash/status/1378483099571417092?s=20

Specifically, I applied for access back in November 2020. Over two months after submitting the initial application, I was informed that I had been "denied" for erroneous reasons (despite the fact that I provided a perfectly legitimate reason for why I sought access to such data).

When I responded (albeit aggressively), questioning their rationale, they dug their feet in on it and claimed that they only provided access to the node for those that "need it".

It was not explained why they felt that I was any "less needing" of access to the node than any other applicants.

I'm One of the Few That Had a Community-Based Rationale

I wanted to inspect the node to get a better idea of how it functions, what data is contained within it, and how effective something like this could be as an ad hoc replacement to Infura.io endpoints.

What nobler reason would one have to provide than that? All of this content and research curated by Librehash is being generated and disseminated for free (no cost to access ever).

So how is it they felt that this was such a lucrative and sustainable venture that I ought to be deprived of access to the archive node altogether?

And why promote this as something for the "general public" when it really isn't? (questioning whether they have at this point)

Breaking Down the Ethereum-Based Solution That I Gave to Hudson Jameson

You may think that this channel is only antagonistic to the efforts of the blockchain space, but this is far from true.

This channel is simply ran by someone that's passionate about seeing things get better.

Which is why I reached out directly to Hudson Jameson a week or so ago to pitch a potential solution that Ethereum should explore to lighten the load on its blockchain and ultimately reduce gas fees w/o having to strongarm the miners into accepting their proposed solution (which looks really bad from the standpoint of a project trying to market itself as open source & decentralized)

More details on this will be posted in @librechain