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The Whopper, which was first introduced in 1957, was a quarter-pound, oversized burger on a vast five-inch bun that cost a reasonable 29 cents.Large corporations can be cruel and uncaring. They often claim to care about their employees, but sometimes the reality can be quite different. This is the story of Kevin Ford, a cook and cashier at Burger King who had worked tirelessly for over two decades. To celebrate his remarkable feat of never taking a sick day, Burger King decided to shower him ...
DurwinSomeone crashed the entire Onion market in America, made millions, walked away scott-free and starte…
We learnt that perfect monopoly can cause catastrophic damage to any economy, even the onion market.A tiny man who rocked America with Onions History doesn’t repeat, but it rhymes. You want to learn something, anything? Look back in history and it will surprise you just how eerily relevant it can be even in modern times. With the advent of Bitcoin, Cryptocurrencies, Tech titans and startups, you get all sorts of happenings like Tulip Mania, recessions, Feds stepping in, market manipulations a...
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Austin Russell is an American entrepreneur, founder and CEO of Luminar Technologies. Luminar specializes in lidar and machine perception technologies, mainly used in autonomous cars. Luminar went public in December 2020, making him the world’s youngest self-made billionaire at the age of 25.Wha’s up with billionaires and news media? In a stunning turn of events, Austin Russell, the youngest self-made billionaire of 2021, has made headlines once again by acquiring a majority stake in Forbes ma...
CEO of StartupX | DeFi, NFT, Crypto, Web3.0 Builder | Co-Founder at IxSA | Director of Startup Weekend Singapore | Sustainability Champion
DurwinBurger King gave candy to a worker has worked for more than 20 years.
The Whopper, which was first introduced in 1957, was a quarter-pound, oversized burger on a vast five-inch bun that cost a reasonable 29 cents.Large corporations can be cruel and uncaring. They often claim to care about their employees, but sometimes the reality can be quite different. This is the story of Kevin Ford, a cook and cashier at Burger King who had worked tirelessly for over two decades. To celebrate his remarkable feat of never taking a sick day, Burger King decided to shower him ...
DurwinSomeone crashed the entire Onion market in America, made millions, walked away scott-free and starte…
We learnt that perfect monopoly can cause catastrophic damage to any economy, even the onion market.A tiny man who rocked America with Onions History doesn’t repeat, but it rhymes. You want to learn something, anything? Look back in history and it will surprise you just how eerily relevant it can be even in modern times. With the advent of Bitcoin, Cryptocurrencies, Tech titans and startups, you get all sorts of happenings like Tulip Mania, recessions, Feds stepping in, market manipulations a...
DurwinThe youngest self-made billionaire just bought Forbes.
Austin Russell is an American entrepreneur, founder and CEO of Luminar Technologies. Luminar specializes in lidar and machine perception technologies, mainly used in autonomous cars. Luminar went public in December 2020, making him the world’s youngest self-made billionaire at the age of 25.Wha’s up with billionaires and news media? In a stunning turn of events, Austin Russell, the youngest self-made billionaire of 2021, has made headlines once again by acquiring a majority stake in Forbes ma...
CEO of StartupX | DeFi, NFT, Crypto, Web3.0 Builder | Co-Founder at IxSA | Director of Startup Weekend Singapore | Sustainability Champion
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The power of the US government is not to be trifled with.
Decentralisation, anonymity, power to the people and floating in cyberspace does not shield you from the full and awesome might of the US government at all.
At least that is what the developer of Tornado Cash found out.
“The Aug.12 arrest of Tornado Cash developer Alexy Pertsev by Dutch authorities has been widely condemned by the crypto community.”
In short, the US government felt that hackers were using Tornado Cash to launder money (especially North Korean Hackers).
They were very unhappy and outright banned US citizens from using Tornado Cash in any way.
That includes even receiving money from users who used Tornado Cash (which you cannot prevent in the crypto world!).
They decided to arrest the led developer of Tornado Cash in Amsterdam (amazing they could find the head honcho of an anonymous decentralised protocol!).
Best part is that Alexy Pertsev is neither the cofounder nor an employee of Tornado Cash.
He was just a developer who contributed code to the decentralised protocol like many others.
Essentially, a freelancer or voluntary if you will.
Fear, doubt, uncertainty, outbursts and protestations arose.
“Tornado Cash Post Ban Update: Tornado deleted their discord. The DAO has been shut down. And the lead dev has been arrested. Yet somehow, the founders of Celsius, Terra, and Voyager are still rich & walking around freely. The lesson: you can lie/cheat/steal… you just can’t give people tools that give them privacy!”
Interesting thought eh?
On the one hand, you have bad actors that probably got greedy and caused the market meltdown walking freely with no penance.
On the other hand, people who wrote codes for a software to allow others to transact anonymously in cyberspace are being hauled to jail and shut down unceremoniously.
The contrast is stark and the reality is brutal.
Don’t get in the way of the US government’s righteous path to justice.
It shocks me to see just how powerful the US government really is, especially in such a frothy climate.
To issue a ban, to convince Dutch police to arrest the developer, to go against the entire crypto community, to have the gall to incite FUD at such a trying time.
The US government targeted Tornado Cash specifically and made an example out of them.
There are plenty of sites similar to Tornado Cash out there, are they all supposed to cease too?
Tornado Cash is completely decentralised, supposedly anonymous and exists only as code in cyberspace.
The fact that is can be “attacked” and taken down by the US government, shows us just how unfathomably omnipotent they really are.
I used to think movies like Jason Bourne was pure fiction.
Now, I not so sure anymore.
Yes Tornado Cash might have made mistakes, but did it warrant such a reaction from one of the most powerful government in the world?
What’s next for Tornado Cash?
They still have $22M in their treasury!
What is going to happen to that?
-
Is it right for the US government to specifically ban Tornado Cash?
-
#startups #business #startupx #growth #success #socialmedia #culture #web3 #strategy #hacks #tornadocash #tornado #alexypertsev #developers #usgovernment #privacy #laundering #illegal #cybersecurity #eth #btc #crypto #hackers #wallets
The power of the US government is not to be trifled with.
Decentralisation, anonymity, power to the people and floating in cyberspace does not shield you from the full and awesome might of the US government at all.
At least that is what the developer of Tornado Cash found out.
“The Aug.12 arrest of Tornado Cash developer Alexy Pertsev by Dutch authorities has been widely condemned by the crypto community.”
In short, the US government felt that hackers were using Tornado Cash to launder money (especially North Korean Hackers).
They were very unhappy and outright banned US citizens from using Tornado Cash in any way.
That includes even receiving money from users who used Tornado Cash (which you cannot prevent in the crypto world!).
They decided to arrest the led developer of Tornado Cash in Amsterdam (amazing they could find the head honcho of an anonymous decentralised protocol!).
Best part is that Alexy Pertsev is neither the cofounder nor an employee of Tornado Cash.
He was just a developer who contributed code to the decentralised protocol like many others.
Essentially, a freelancer or voluntary if you will.
Fear, doubt, uncertainty, outbursts and protestations arose.
“Tornado Cash Post Ban Update: Tornado deleted their discord. The DAO has been shut down. And the lead dev has been arrested. Yet somehow, the founders of Celsius, Terra, and Voyager are still rich & walking around freely. The lesson: you can lie/cheat/steal… you just can’t give people tools that give them privacy!”
Interesting thought eh?
On the one hand, you have bad actors that probably got greedy and caused the market meltdown walking freely with no penance.
On the other hand, people who wrote codes for a software to allow others to transact anonymously in cyberspace are being hauled to jail and shut down unceremoniously.
The contrast is stark and the reality is brutal.
Don’t get in the way of the US government’s righteous path to justice.
It shocks me to see just how powerful the US government really is, especially in such a frothy climate.
To issue a ban, to convince Dutch police to arrest the developer, to go against the entire crypto community, to have the gall to incite FUD at such a trying time.
The US government targeted Tornado Cash specifically and made an example out of them.
There are plenty of sites similar to Tornado Cash out there, are they all supposed to cease too?
Tornado Cash is completely decentralised, supposedly anonymous and exists only as code in cyberspace.
The fact that is can be “attacked” and taken down by the US government, shows us just how unfathomably omnipotent they really are.
I used to think movies like Jason Bourne was pure fiction.
Now, I not so sure anymore.
Yes Tornado Cash might have made mistakes, but did it warrant such a reaction from one of the most powerful government in the world?
What’s next for Tornado Cash?
They still have $22M in their treasury!
What is going to happen to that?
-
Is it right for the US government to specifically ban Tornado Cash?
-
#startups #business #startupx #growth #success #socialmedia #culture #web3 #strategy #hacks #tornadocash #tornado #alexypertsev #developers #usgovernment #privacy #laundering #illegal #cybersecurity #eth #btc #crypto #hackers #wallets
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