Today I gave a lecture on cryptocurrencies to young #crypto-padawans 

And we touched on the topic of #decentralized storages and it gave me the idea to write a little thread about it!

As always, make some tea, grab a cookie and have a good time reading! 🧵 

1/
Decentralized storage.

A few words about decentralized storage. 

Including #CHIA, #BTT, #SIA, #FIL

Obviously, due to the fact that these kinds of networks need to be publicly available, but as secure as possible

2/
In their workload, they can, especially at first, be much heavier than classic solutions from centralized providers.

However, the miser pays twice. 

And sometimes not only with money.

3/
All consumers of such digital services, of course, have an IQ above 50 to realize the full benefits of dex systems.

The pendulum in the direction of libertarianism will also be pushed by any kind of sanctions by the top rulers of any country

4/
Tightening more and more every day policies for processing, storing, accumulating, and other information-related activities.

A number of persons have already repeatedly stated that service providers are obliged to monitor their users, while imposing a double liability:

5/
For users - who store and distribute.

For providers - who allow storage and distribution. 

Tbh I believe that our internal desire for freedom from all restraints

6/
Sooner or later will cause the release of unbreakable decentralized products

Which will be impossible to hack or control...for a long time I guess.

Regardless of the moral judgment that society assigns to DS content.

7/
Against the background of the above, we could try to buy back the stocks of companies that work with HDD - SSD and storage in general. 

However, most companies that work in the sector keep this direction almost as a secondary asset.

8/
As, for example, Samsung:

After all, when you buy Samsung stocks, hoping to get growth from their HDD/SSD market operation

You're going into all their corporate projects at the same time.

From cell phones and washing machines, to insurance and shipbuilding.

9/
Of the most interesting on storage market I see #WDC - for that is their main focus.

I would probably buy their stocks.

Especially with the growth and expansion that awaits the file sharing industry.

I think it's a smart move in anticipation of the rise of #web3

A new day a new thread 🧵

Meet the #DAO story!

P.S. Don't be indifferent:

Like, retweet, and maybe even subscribe!

It's important for me! 🙏 

1/24
The #DAO is an account of how technology is transforming the structure of society.

Symbolically, the term DAO originally came from a sphere far removed from #crypto - Chinese philosophy

But the meaning surprisingly coincides with what DAOs represent in our world already.

2/24
The DAO is the Way.

And, if in Daoism we were talking about the correspondence of human actions to special values and attitudes,

Then in modern realities we are talking about the emergence of a new stage on the Path of evolution of social &amp; state systems.

3/24
Let's understand what #DAO is in a coordinate system we already understand - #blockchain and #crypto, and find out

Why it's not just a tool for building ludicrous things, but really a quantum leap (OH NO 👀) for all of humanity.

4/24
A DAO (Decentralized Autonomous Organization) is a form of organization free from government control

Where management is done directly by the members

And the execution of decisions is guaranteed by fully transparent smart contracts.

5/24
Each DAO token holder has votes on the decisions of the platform according to his share

In most cases each holder can put suggestions for improvements to the platform to a vote

When proposals pass a threshold of approval, they are adopted and implemented in the blockchain

6/24
DAO members are anonymous and can be located anywhere in the world

Therefore, attempts to regulate DAO are as successful as fighting with air - NONSENSE

And they're already underway (attempts) = WY was the first state to make DAOs an official form of company registration.

7/24
Contrary to popular belief, one of the first examples of DAO was not at all "The DAO" of brothers Jentzsch and Stephan Tual, supported by Buterin,

It was the cryptocurrency #DASH founded in 2014.

8/24
It was there that the DAO governance mechanism was applied, with decisions made by the MASTER_NODES group. 

However, the token failed to enter the bright future:

9/24
When distributing coins, the algorithm deliberately allowed a small number of wallets to suddenly gain almost complete control over the management of the token

And (subsequently) the coin was actively involved in questionable transactions. 

NEVER TOUCH THIS!

10/24
The start has been made

And now, in 2016, the infamous crowdfunding venture fund The DAO is launched

An exploit of which, as you may remember, led to the fork of ether on the exalted #ETH and the overthrown #ETC

11/24
The gist of the idea was that investors could vote for themselves on where The DAO funds should be invested.

But, what is instructive in this story, the community had a huge demand for DAO, which exceeded all expectations many times over.

12/24
The crowdsale raised over $150 million (and that's back in 2016!) in less than a month.

Perhaps no other venture capital fund has had such success in such a short time in crowdfunding.

13/24
Since then, many names have already emerged in the #DeFi segment that are managed through DAO

BitDAO auction, which attracted $365 million in investment from 9,200 (pieces) investors

Note - no investment banks (Goldman Sachs, Morgan Stanley and other dinosaurs) involved.

14/24
So - let's turn to the traditional corporate sector and see: how big companies are being run now.

More often than not, we see four levels:

1. Stockholders (SH) - can number in the thousands: from investment funds and states that hold large stakes, to APES from reddit

15/24
SH most often get some sort of report from the company

Sometimes meet for annual meetings 

And - most importantly - elect the Board of Directors

2. The BoD is the supervisory which is supposed to make sure that the company puts the interests of the SH first

16/24
This closed club meets several times a year.

Receives reports from the Board, approves the CEO's salary, and approves the dividend policy.

Only at the 3rd level of the Corporate Hierarchy do people appear who actually run the company on a day-to-day basis:

17/24
3. The Management Board - people with colossal salaries and bonuses, who decide all operational issues and directly manage the company.

Usually these are tops with 20-30 years of experience who manage the rest of the 10-50-100 thousand employees.

18/24
4. Employees - in addition to the working class, each company has a substantial middle and back-office. Accountants, lawyers, IT and so on. 

So why is it so difficult?

19/24
These lvls of the hierarchy were created at a time when direct participation of SH in decisions about the company was almost impossible,

After all, you would have to take tens of thousands of people every day to meetings or make conference calls for thousands of ppls.

20/24
What will change with the arrival of the DAO? Everything will change!

We see that hierarchy levels, as well as many other parts of the corporation, are becoming simply unnecessary:

Archaisms of the age, vestiges on the body of human development.

21/24
After all, at the DAO, SH can vote on company policy proposals at least every day.

No need to convene BoD, pay for conference rooms at the Ritz_Carlton or Four_Seasons, rent Maybachs and private jets.

No need to keep books and pay for months-long audits by KPMG and E&amp;Y

22/24
All transactions are visible in real time

Corporations of the future are doomed to evolve into a DAO organizational form

Those who refuse to change are likely to be recycled by the millstones of history into methane.

However, crypto will not be limited to corporations.

23/24
Not only any type of legal entity, but entire states can be reincarnated in DAO

After all, even elections are only necessary to delegate political decision-making:

Since it is physically impossible to gather 50-100 million citizens at once to make these very decisions.

24/24
Everyone can know where the funds have been spent, and with the DAO it becomes possible.

To buy villas in Monaco, a closet of luxury watches, or a private collection of luxury foreign cars?

Or

Hypersonic rockets, free WI-FI for all, and a Hyperloop NY - LA?

Once again, I'm in your feed!

Once again, I'm back with a great thread! 🧵

Today we're talking about an integral part of #DeFi and #crypto in general 

SMART_CONTRACTS

Let's go!

P.S. Don't be indifferent:

Like, retweet, and maybe even subscribe!

It's important for me! 🙏 

1/24

If you've been in #crypto for a little longer than a couple of days

You've probably come across mentions of smart_contracts

 - That is, some robot decides whether to give you your money?
 - Yes

In reality it's a bit more complicated than that. Let's try to figure it out

2/24

A smart_contract is a set of code lines, in which certain actions and conditions are specified

As simple as possible, it's as safe as possible

USDt are sent to the contract wallet address, the contract gives them to the one who fulfills a special condition, for example:

3/24

"Send an equivalent amount of #WETH to the contract wallet address."

Then the contract sends the first person - WETH, and the second person - USDt:

An exchange has taken place.

4/24

Thus it is possible to conduct transactions between individuals. 

There is no need for regulators, intermediaries, guarantors or trust between the parties.

5/24

Provided that the code of the contract is in open access

We get the most transparent and secure instrument

Which can be integrated into hundreds of spheres and industries.

An important fact is that sometimes smart_contracts cannot be simply rewritten:

6/24

Their immutability = a key trust factor in them. 

And a headache for developers

In case something doesn't go according to plan, or if external conditions change.

7/24

Uniswap #UNI as an example:

The project launched the 3rd version of its main protocol, but two versions coexist at the same time

The project decided to modify the rules of the game and introduced concentrated liquidity in V.3 but the old V.2 smart contracts still exist.

8/24

Those users who were not attracted to V.3 for one reason or another, simply ignored the changes and did not migrate to the new version. 

Remaining in a fully working version of V.2. 

Why is it necessary to release version V.3 and give users this choice?

9/24

Because the UNISWAP developers can't edit the V.2 contracts. 

They have to release new versions, announce it in their media, and wait months and years for users to deign to use the new versions.

10/24

As you can imagine, there are nuances of trust and reliability involved. 

And also a time lag in the form of the time required to study, examine and test by each individual user. 🧑‍💻

11/24

Projects like UNISWAP consist of a huge number of smart_contracts

Which in its interface take types of pools of liquidity, swaps, deposits - in fact, everything that DeFi operates with. 

And here we encounter the other side of the coin - exploits.

12/24

Let's make one important remark:

Unmodifiable smarts are needed precisely so that developers, suddenly, in the process, cannot change the contract codes (CC) in a negative way for the user. 

Imagine the situation:

13/24

Hayden Adams is flying on a plane with a connection in state N.

Suddenly he is attacked by spec-forces or mafia, taken to an un-own place and forced to change UNISWAP CC in such a way that all funds which users send for ex-nge are sent to enemy under control wallets.

14/24

It seems unbelievable, but UNISWAP exchanges millions of $ every day.

Who can guarantee security?

The reasons for such malware injection attempts can be quite different.

However, realize the global concept:

Not all smart_contracts are immutable.

15/24

It is up to the developer to choose his own path.

In the case of changeable contracts, it is easier to fix vulnerabilities and release updates

But no one can give a 100% guarantee that sooner or later, these contracts will not turn negative.

16/24

In the case of unchangeable contracts - no one can change them after the publication (even the developer)

This gives a guarantee that no malicious code, which can lead to a loss of tens and hundreds of billions of dollars, will be inserted into this contract 🔒

17/24

However, for the same reason - the developers can't release updates and have to publish new versions of (systems) contracts

Just calling on all their users to stop using the old ones and switch to the new ones.

18/24

If all versions work correctly and well - then everything is fine. 

However, if suddenly a defect is found in the contracts - it can be exploited until the last user. 

After all, the developers will not be able to change it.

Your smart_contracts must be perfect.

19/24

Many have heard about how some of specialists managed to hack some DEX and withdraw several tens of millions of dollars.

Usually it is possible not only due to the incredible abilities of attackers, but also because of the trivial ill-conceived contracts.

20/24

Scammers sometimes create such conditions that the contract thinks everything is fine and does its job perfectly. 

But at that moment, all the liquidity is withdrawn from it to controlled wallets.

21/24

For such cases, there is often an emergency withdrawal function from the contract. 

But this opens up new attack vectors, such as EXIT_SCUM commands, along with all depositor funds.

Which forms a certain scalability ceiling:

22/24

If a development team behaves decently at the $10 million lvl

Can we confidently say that their behavior will continue to be decently at the $100 mln level? 1 bn?

Safeguarding against a scam by one of the team members is often helped by a multi_signature system.

23/24

It's a system that allows you to perform certain actions (transactions: deposit, withdrawal, exchange) 

Only if several verified accounts approve them.

Keep in mind that this practice does not guarantee complete security

24/24

So we have to resort to different tricks

Such as delaying migration for a certain period of time, so that users have time to withdraw their funds. 

After all, even a small mistake when writing the code can lead to disastrous consequences.

This will be an extremely long thread about #NFT and #cryptopunks 

Brew some tea, grab a cookie -&gt; enjoy reading, my dear anon❤️‍🔥

It will be interesting - I promise

Let's go! 

1/24

Part 1: Crypto_Punks

Most of us can't understand the reasons for the hype around #NFT

But the facts are undeniable - we live in a reality where millions of dollars go to a bunch of pixels

randomly generated by a simple algorithm.

2/24

#NFTs didn't just take root in the crypto_industry - they became one of the most important drivers of market growth

And now they are associated with blockchain no less than classic cryptocurrencies.

3/24

At the same time, the degree of speculative madness on marketplaces does not yield to the heat of trading on the leading lunchpads and #DEXs.

What is this phenomenon? What is the reason for its success?

Let's try to start from the beginning and see where it takes us.

4/24

Part 2: What is the Point?

2017.

Two developers from New York dreamed of getting rich through mobile gaming.

They set to work with impressive ambition and armed with their (newest) development -

A program that generated random images of people in a 24x24 pixel format.

5/24

It didn't make a game, but it did produce ten thousand characters.

Inspired by London's underground punk scene and the novels of William Gibson and Neal Stephenson:

Crypto punks became the #bitcoin of the #NFT world:

6/24

They were the first to have a strictly limited number, while spawning an unimaginable number of imitators trying to replicate the success of the pioneers.

Initially distributed for free, the punks did not generate a stir for a long time, being more of a joke.

7/24

Over time, a layer of veterans of the crypto_industry began to form:

Individuals who had amassed fortunes through early entry, trading, and developing their own projects.

8/24

The community preferred to exist exclusively on social networks, and the hallmark was a craving for anonymity.

Many of them owned punks and used them as digital avatars.

9/24

Part 3: Don't Argue

Owning a punk is considered a sign of belonging to the "elite" within the crypto_community,

So it's not surprising that (over time) their price has skyrocketed.

10/24

By the start of BULL_RUN Spring 2021, many were willing to offer hundreds of thousands of dollars for a ticket to this private club. 

Punks vary in their level of rarity:

Each can have up to seven attributes, like a headdress or earrings.

11/24

The more "cool" a punk is, the higher it is valued among degen_collectors. But there are exceptions:

For example, there are 8 punks with no attributes at all, they are called Genesis_Punks.

The most expensive are the alien punks with turquoise skin

12/24

Two such NFTs were sold for more than 7 million dollars each.

Despite the fact that the punks "shot" far from immediately,

Their creators anticipated this turn of events and retained a significant number of them, which are now sold in small batches at auctions. SMART

13/24

Part 4: You Should Know

Crypto_Punks had a lot of followers.

Some focused on the community, others insisted on the collectible component.

In the meantime, Punks is firmly at the top and continues to rise in value.

14/24

At first glance it all looks like trivial speculation, but this further emphasizes the defining characteristic of NFT: uniqueness.

The uniqueness that the token and the product embedded in it share with its owner.

15/24

Cryptopunks made a local revolution, but like all successful revolutions, they set a new direction,

Already mainstream today.

Technically, punks were little different from regular ERC-20 tokens, but their success prompted developers to delve deeper into the subject.

16/24

Soon, new practices for NFT began to emerge.

The competition of ideas and opinions gave birth to the ERC-721 standard:

A standard specifically written for NFT.

17/24

The main difference was that the new structure allowed each individual token in a block to be tracked, rather than a collection of tokens.

Thus, each token became individual and unique already at the code level, not only because of the information embedded in it.

18/24

Part 5: Expanding

The first working example of ERC-721 was CryptoKitties:

A blockchain game in which users could collect and breed jpeg kitties

Why? For whom was it made? 

All questions fell away when a simple fact surfaced: there was plenty of money to be made from it

19/24

Millstones of commerce began to turn and (soon) the project was talked about far beyond the thematic forums.

Even media giants like CNN invited the creators of the project:

To talk about how they were able to get people to spend their annual salaries on pictures.

20/24

Remarkably, the real adoption of NFT happened precisely in conjunction with gamification.

Add to that an element of collecting and you get one of the most successful projects in NFT history.

All of these events coincided with the spectacular movements of Fall 2017:

21/24

Combined with the stresses of the passing ICOs, prices soared,

In fact, CryptoKitties nearly put the network down, first indicating the need to scale Ethereum urgently.

22/24

Part 6: Bifurcation Point

In December 2017, the world learned about a project,

Which is still one of the main reasons for high gas prices 

The NFT marketplace #Open_Sea was launched.

23/24

OpenSea, as well as the rest of the marketplaces, were extremely appreciative of ERC-721's capabilities

Standardization paved the way for the production of new projects, and soon the market was covered with a wave of hundreds of the same items.

24/24

llamas, dogs, monkeys, robots = whatever

Most of these projects are already dead, or in a prolonged coma, but there are still ppl who are willing to buy drawn gems for fortunes

That's the end of the 1st part of the 🧵

Cause Twitter won't let me do more than 25 posts

A small sequel to Part 1⬇️

Nothing has changed dramatically, but the foundations have been laid and the necessary infrastructure has emerged:

Not only developers, but any individual can now create their NFTs - due to a thorough lowering of the entry threshold.

Also, well-deserved names are increasingly appearing on the list of authors, and large companies are not shy about investing in advertising involving NFTs.

A small thread 🧵

In which I will share my thoughts on decentralization and want to hear your suggestions on the same subj.

Show some activity my degens! 💪

I make this content first of all for you!

And all I ask in return is a little support. Thx ❤️‍🔥⬇️

#DeFi #LUNA #DAO 

1/5

Let me tell you what the future holds for us.

- #Decentralized and extremely sustainable messengers.

- Decentralized and encrypted file-sharing and storage.

- Decentralized and [accessible to everyone] cloud computing, which are divided into:

a. #CPU time

b. #GPU work

2/5

- Decentralized domain zones. #ensdomains 

Which no one can arrest or confiscate. 

- Decentralized social networks. @LensProtocol 

Without bugs, spiders, counters or personal data collection. Login by seed_phrase.

3/5

- Decentralized [of course] finance.

Exchanges, venues, futures, borrowing, lending, insurance, farming, deposits, funds and management. #DAO 

In fact, #DeFi is a sphere worthy of its own thread

There are so many promising things out there 🤯

4/5

- Decentralized Games. 

Everything we love = skins, gear, weapons, houses, lands, worlds. 

Everything is stored in your wallet. 

No one can block an account or take something away without consent.

The potential for #NFT in #P2E industry is literally endless!

5/5

- Decentralized organizations = companies and legal entities. 

Where decisions are made by digital signature - voting by decision makers. Decentralized voting.

Add your points in the comments to this post 

❗️❗️❗️it's really important for me❗️❗️❗️

1/3

Hey #NFTCommunity I want to tell you 

In fact - I love the #NFT 

But not as much as you - and everyone else. 

Because I can clearly see the perspectives of their utility - especially in games. 

- Especially decentralized!

...However, this is all future ⬇️ 

2/3

The obvious application of #NFT - can be driving licenses, diplomas, certificates, documents - for real estate, cars, animals. 

Organic or inorganic! (Saying hello to Boston Dynamics)

Anything at all!

...Today, unfortunately, it's just picture rights.

3/3

But that's okay.

All the more interesting to look forward to the future

In general, I am happy that I was born at a time when man and technology go hand in hand.

Im sure #cryptocurrency are an important milestone in history, like electricity, internet, etc.

In my childhood I was a big fan of #MMORPG

#LineAge 2 Interlude ❤️‍🔥

I was fascinated by the huge world in which I was free to do what I wanted

And of course ppl's, anon's with whom we joined clans and achieved our goals

That's how I perceive #Twitter right now - like a game. 

The same thing happens here as in the game. 

I grow my account the same way I grew my character in the game.

And believe me

If you look at Twitter from that perspective

It becomes a lot more interesting.

I’m try to make good/useful content

Rack up stats and interact with people to get to a higher level

Working with the design of tweets

Coming up with new strategies for interacting with big influencers.

In order to get into the strongest "clan"

Yes - my goal is to get to the top

And I'm not ashamed to say so.

Cause I'm motivated by that target.

And if you feel the same way I do - join me

As many of you may have already learned from the games - unity is strength 💪

Let's grow together!

Mini-thread🧵

It's funny enough:

Since about 2017

All of the world's governments, CB's, foundations, and other financial institutions

Tried to ignore #crypto as much as possible:

There were no questions from journalists, no important conferences, no institutional investors. 

The crypto industry was black-labeled in the pre-agreed speakers' handbooks and media questionnaires.

Just look at how much the situation has changed:

There are almost no more states, print media and Influencers that have not spoken out on the topic of #cryptocurrencies:

All presidents, legislatures, congresses, CB's, regulators of all stripes, from taxation to stock exchanges.

Federal agencies - from investigative and intelligence agencies to national security

The media from the tabloids to the most revered.

Almost every day generates some content on the subject

Certainly - very important.

I find it funny

Сause very serious ppl's with pompous faces

Shouted at us from TV screens that Bitcoin is a ponzi scheme.

And now they keep their money in it 🤡

A little #crypto conspiracy from @elonmusk 

1. November 13 #BTC = $65,000
Elon posted the dude who turned his back on us.

2. May 28, 2022 BTC = $29,000
Elon posted the dude who turned his face to us.

What would that mean?

The answer is in basic astronomy: ⬇️ 

In both cases, the constellation in the background is Ursa Major 

Also known as the Great Bear and Big Dipper

Assuming that this is a rebus of the term "Bear Trend"
 
- November 13, 2021 - beginning
- May 28, 2022 - end

Popcorn for everyone and attention to the charts 🍿

I have a strong feeling there is something wrong with @PancakeSwap 

I don't know how else to explain this ⬇️

#PancakeSwap $CAKE 

#Stablecoins situation doesn't inspire positivity either

I'd like an explanation for this 🧐 