Ep. 20 Tibanne: Teh RecOrd keEpinG caT

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In this episode of The Unhashed Podcast: Who deserves the Lightning Torch next? And will Billfodl ever get their chance to carry the flame? Apparently confidential transactions weren’t enough for Litecoin, as Charlie Lee is now supposedly courting the Beam team about implementing mimblewimble into his coin. What new flashy tech will Satoshilite suggest implementing next? And...if you are so sure no one noticed that coin breaking bug in your protocol does that mean no one gives a shit about it anymore? Find out the answers to these and other questions in this week’s episode of The Unhashed Podcast. See you on the other side.

Time Stamps:

0:00:00 Introduction

0:02:59 Corrections/Clarifications about NEM from last week

0:09:00 Clarification about CT on Monero

0:10:55 QuadrigaCX - Peter Todd clarifies how paying recipients with depositors is normal exchange operation, and not necessarily indicative of a lack of cold storage funds

0:15:40 Legal proceedings about

0:21:09 Lightning Torch

0:24:15 Litecoin Adding Mimblewimble?

0:29:41 Karpeles' cat accounting

0:37:25 ZCash vulnerability

0:53:30 FitVitalik

1:01:10 Lightning Round

Corrections to last week:

  • Feedback about NEM from cryptony

  • Monero uses CT

  • A bunch of stuff on the Quadriga story

Weekly News Wrap Up (Feb 11):

  1. The QuadrigaCX drama has now spilled over into crypto twitter with Peter Todd taking the writer of the original analysis piece, ProofofResearch, to task about some of the claims he made in the write-up, specifically about how the exchange should have managed customer deposits and withdrawals and how best to manage its UTXOs.

  2. Quadriga’s legal proceedings have begun, and we got a look into those proceedings via tweet storm from CBC reporter Jack Julian. According to his live updates, Quadriga will be protected from lawsuits and deadlines for up to 30 days under the canadian creditors arrangement act, a statute from 1933 that allows insolvent corporations owing their creditors in excess of $5 million to restructure their business and financial affairs. Other revelations came to bear that one lawyer was representing 78 clients owed over $11m. It has even come to light that one unlucky ex-bittorrent software engineer lost over 7 years’ worth of savings valued at over $400,000 of crypto due to the debacle.

  3. Users have been passing around a so-called “lightning torch” – a running game wherein each participant adds a little bitcoin to a payment, then passes it onto someone on Twitter that they trust – in order to spread awareness of the technology, widely seen as the future of bitcoin payments since payments are fast and scalable. But perhaps most surprising is that the latest person to carry this torch is none other than Twitter CEO Jack Dorsey who then sent it on to lightning labs CEO Elizabeth Stark.

  4. Is Litecoin pamping itself? They’ve just announced they’re looking to implement MW into litecoin, but guess who the foundation has approached about how to do that? Not the grin guys, but rather beam, the first mimblewimble implementation and utilizing a founder’s reward.

    1. Ruben’s theory about a final pump is looking good.

  5. Brock pierce is claiming he owns 88% of MT Gox with mark karpeles disavowing this, saying his company, Tibanne “has no record of any payment for the shares.”

    1. According to ForexCrunch,  “To gain ownership of Mt Gox, Pierce called up Karpeles and purchased his 88% stake in exchange for 1 BTC through an entity called Sunlot. He bought the other 12% from Stellar/Ripple co-founder Jed McCaleb for another 1 BTC. His immediate goal is to use a legal process called “Civil Rehabilitation Plan” to ensure that victims of the Mt. Gox hack are paid a fair share of what has become more than a billion in assets. This rehabilitation plan is called the “Gox Rising” project.”

  6. zCash disclosed they had a Counterfeiting Vulnerability. It took them 8 months to fix the bug, since they chose to hide the fix inside a feature upgrade. Zooko Wilcox, CEO and founder of the Zcash company, said he doesn’t think the bug was exploited, because “very few people knew the cryptography well enough to have discovered and exploited it”. That being said, he also conceded they “cannot be absolutely certain that the vulnerability wasn’t exploited”.

ICO My God, They’re Serious:



One Final Note:

Make sure you are storing your crypto on something secure like a Ledger and backing it up on something sturdy like a Billfodl. If you buy these items through the links above, we do take a cut of the profits but it also helps support the show - a win/win for all involved.

Colin aulds