161–170 of 186 posts
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Which bank? SVB? FRB? You raise an important point though: crypto is not for the faint-hearted. "Be your own bank" has exactly that much responsibility attached. Many don't fully appreciate that.
Find a depositor that lost money from either bank.
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When your funds get low just open your hot and cold wallet apps and type in how much to transfer, wasabi takes care of the rest. It's easier than merely logging into my bank. Or paypal (which unintentionally locked me out for over a year after a broken tos update that I couldn't accept). People have had hot and cold wallets forever, they just call them wallets and banks. It is the same workflow, except without: Drivi…
>It's the legacy banking system that is fundamentally broken. I can't think of one time funds from my checking account were wiped out because of a browser extension.
How many employees does trust wallet have? How funded are they? I am completely unsurprised that this happened to web3 trash. This is more of an indictment of the vc funded 'move fast and break things' attitude that pervades this site and 'web3' than it is of the greater cryptocurrency community.
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So, by printing money the government takes money from citizens' pockets. Cryptocurrency is protected from this by design.
No, by printing money, the government dilutes/devalues the money they already have. You still have 100 dollars. Theft would be that you have 98 dollars. Converting dollars into something that isn't dollars, which doesn't get you as much of that something, is a different concept. It is the value of the dollar is lower. > Cryptocurrency is protected from this by design. Not really. Today, bitcoin dilutes holders throug…
No, I cannot agree with you. If I had 100 dollars and then the government devalued them so that they are worth 98 old dollars then how is it different from taking 2 dollars out of my pocket? It is the same thing just called the other name. Of course, the government won't use words like "take out of the pocket" or "rob", they have scientific names for that like "monetary policy".
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No, by printing money, the government dilutes/devalues the money they already have. You still have 100 dollars. Theft would be that you have 98 dollars. Converting dollars into something that isn't dollars, which doesn't get you as much of that something, is a different concept. It is the value of the dollar is lower. > Cryptocurrency is protected from this by design. Not really. Today, bitcoin dilutes holders throug…
> No, by printing money, the government dilutes/devalues the money they already have. You still have 100 dollars. Theft would be that you have 98 dollars. No, I cannot agree with you. If I had 100 dollars and then the government devalued them so that they are worth 98 old dollars then how is it different from taking 2 dollars out of my pocket? It is the same thing just called the other name. Of course, the government…
What you’re complaining about is the price of 12 eggs going up by $2.
It isn’t that you now have $98. It is that eggs are more expensive.
Of course the solution to that, is to print more eggs.
Part of the reason why inflation rarely goes down.
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Yes, that's my point. WASM is new. So why does it not just have strong cryptographic functions from the very beginning? Strong random generators are super important today. Why don't they just demand strong crypto functions in every implementation? I mean, this calls just for endless troubles, if you don't can trust a random generator in WASM (depending on the implementation).
WASM in the browsers doesn't seem to have the full force of support from the browser vendors.
Also, this was an implementation bug, not a WASM bug. WASM specifies an execution environment; what developers do in it is entirely up to them (and the vendors of the libraries they use).
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Because if you read the article, you would have been informed that through WASM they did not have access to existing PRNG (e.g. /dev/urandom), and had to roll a mersenne twister. Which should not be used. It is about implementation, not about WASM
That sounds incorrect, though WASM you have access to webcrypto getrandombytes which is native OS randomness.
Trust Wallet needlessly wrapped `std::random_device` (which might or might not be cryptographically secure by itself, depending on how it's implemented in whatever WASM-generating stack they use) in an instance of `std::mt19937` (which is definitely insecure, whether seeded cryptographically or not, due to being seeded with only 32 bits of entropy in their implementation; but even seeded properly, a Mersenne Twister would eventually leak internal state).
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Not to be snarky, but this sounds real convenient. Why don’t we just admit these tools are just fundamentally broken?
When your funds get low just open your hot and cold wallet apps and type in how much to transfer, wasabi takes care of the rest. It's easier than merely logging into my bank. Or paypal (which unintentionally locked me out for over a year after a broken tos update that I couldn't accept). People have had hot and cold wallets forever, they just call them wallets and banks. It is the same workflow, except without: Drivi…
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> No, by printing money, the government dilutes/devalues the money they already have. You still have 100 dollars. Theft would be that you have 98 dollars. No, I cannot agree with you. If I had 100 dollars and then the government devalued them so that they are worth 98 old dollars then how is it different from taking 2 dollars out of my pocket? It is the same thing just called the other name. Of course, the government…
What is “worth 98 old dollars”? What you’re complaining about is the price of 12 eggs going up by $2. It isn’t that you now have $98. It is that eggs are more expensive. Of course the solution to that, is to print more eggs. Part of the reason why inflation rarely goes down.
For example, this site [1] states that in recent years the inflation in Japan was about 0% on average. This proves that it is possible to keep inflation around zero. Maybe it is because Japanese government unlike Western ones has respect for hard-earned money of its citizens. It seems that Japanese government doesn't put its hands into citizens' pockets.
I have also read this article [2] but it offers no explanation for outstanding stability of Japanese economy.
[1] https://www.worlddata.info/asia/japan/inflation-rates.php
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>It's the legacy banking system that is fundamentally broken. I can't think of one time funds from my checking account were wiped out because of a browser extension.
Yet many merchants are the victims of chargeback fraud, and many others have had funds frozen with no recourse. A paypal glitch left me unable to access my funds despite spending far too much time and energy trying to resolve it. How many employees does trust wallet have? How funded are they? I am completely unsurprised that this happened to web3 trash. This is more of an indictment of the vc funded 'move fast and br…
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Because if you read the article, you would have been informed that through WASM they did not have access to existing PRNG (e.g. /dev/urandom), and had to roll a mersenne twister. Which should not be used. It is about implementation, not about WASM
Couldn't they have used CryptMT [0] instead of MT19937 (or whatever mersenne twister implementation they had)? Saying mersenne twister should not be used is a bit misleading as it all depends on the specific implementations and needs of the application. Anyhow, they could still have used webcrypto through WASM or even through JavaScript (as they can send the data back). This is really not a problem with WASM but more…
The problem is what they did with that random seed once they had retrieved it (i.e. seed a non-cryptographic Mersenne Twister with only 32 bits of it).