Ethereum Co-Founder Says Safety Concern Has Him Quitting Crypto (msn.com) 40
"Anthony Di Iorio, a co-founder of the Ethereum network, says he's done with the cryptocurrency world, partially because of personal safety concerns," reports Bloomberg, in a story shared by Slashdot reader tekram:
Di Iorio, 48, has had a security team since 2017, with someone traveling with or meeting him wherever he goes. In coming weeks, he plans to sell Decentral Inc. [maker of Jaxx, a digital asset wallet], and refocus on philanthropy and other ventures not related to crypto. The Canadian expects to sever ties in time with other startups he is involved with, and doesn't plan on funding any more blockchain projects. "It's got a risk profile that I am not too enthused about," said Di Iorio, who declined to disclose his cryptocurrency holdings or net worth. "I don't feel necessarily safe in this space. If I was focused on larger problems, I think I'd be safer..."
He was also for a time chief digital officer of the Toronto Stock Exchange. In February 2018, Forbes estimated his net worth was as high as $1 billion. Ether's price has more than doubled since then.
Bloomberg points out that Di lorio's net worth was estimated in 2018 at $1 billion — and that since then Ether's price has more than doubled, with the token holding a total market capitalization around $225 billion (second only to bitcoin).
Bloomberg also notes that Di lorio is involved in Project Arrow, a company building a zero-emission self-driving car. Di Iorio plans to sell Decentral Inc for equity, not cryptocurrency, telling Bloomberg that "I want to diversify to not being a crypto guy, but being a guy tackling complex problems...
"I will incorporate crypto when needed, but a lot of times, it's not. It's really a small percentage of what the world needs."
He was also for a time chief digital officer of the Toronto Stock Exchange. In February 2018, Forbes estimated his net worth was as high as $1 billion. Ether's price has more than doubled since then.
Bloomberg points out that Di lorio's net worth was estimated in 2018 at $1 billion — and that since then Ether's price has more than doubled, with the token holding a total market capitalization around $225 billion (second only to bitcoin).
Bloomberg also notes that Di lorio is involved in Project Arrow, a company building a zero-emission self-driving car. Di Iorio plans to sell Decentral Inc for equity, not cryptocurrency, telling Bloomberg that "I want to diversify to not being a crypto guy, but being a guy tackling complex problems...
"I will incorporate crypto when needed, but a lot of times, it's not. It's really a small percentage of what the world needs."
The 5$ wrench (Score:2)
How safe is your wallet
Digital snake oil has a bright future (Score:1)
Typical ETH head: low effort trolling but you keep expecting to be taken seriously. Surprised you haven't launched an ICO for this thread
Was struck by this reading https://news.ycombinator.com/i... [ycombinator.com] - we don't even have enough good devs to make enough decent web apps to satisfy demand
Cryptocurrency is maybe 1000x harder to develop and deploy code for than your
Nope. (Score:3, Funny)
This doesn't describe me accurately at all.
Re: (Score:2)
The best devs work for the best money.
New Bitcoin devs are dependent on charity from old Bitcoin billionaires ... and have to deal with all the old bitcoin devs who hit it big and now do bitcoin as a hobby but feel they deserve the same input they had in the past (they are rich, they have to be right!).
All the various defi scams have far better devs than Bitcoin. It's a money maker and you don't have to deal with bitcoin developers, win win.
Personal safety concerns (Score:4, Interesting)
Re:Personal safety concerns (Score:5, Interesting)
His problem isn't a crypto concern, but a "I got lots of money" concern, and I don't see anyone quiting that.
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The "I got lots of money" problem isn't the same for everyone.
If you're owner of a successful startup, a drug kingpin, a dictator - all of these can be billionaires, but their risk profiles will be very different.
Re:Personal safety concerns (Score:5, Interesting)
Sounds like a good way to quit crypto and start cashing out without crashing the value of your holdings.
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What do we think this means? Organized crime? Fanboys of other crypto? People who stalk rich people?
You're talking about someone who made a lot of money handling a currency primarily used for crime. Make of that what you will. It would appear a disproportionate number of bitcoin *operators*, not necessarily millionaires, but rather handlers of other people's coin disappear.
Making money off criminal behaviour carries an inherent risk, be that running a bitcoin exchange or laundering physical cash.
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Cash is much harder to handle that crypto. I just need you, some water and a bucket and a towel and I have your crypto on a usb stick, a computer file, along with the password you provide in order to be able to breathe and well, you slipped and fell and drowned in your bath. Crypto totally facilitates crime, no two ways about it. Now those criminals in the big old pump and dump will be furious and will be seeking revenge from the people who stole their ill gotten gains and will likely kill in revenge. Targe
Net worth (Score:2)
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If you get kidnapped, how much people are willing to pay
Who are these people? And how would they pay if I'm the one with the billion dollars?
In an interview many years ago, Bill Gates stated that he doesn't need a security team. Because he has to be free to write a check. His family has a security team.
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Interesting post from co-founder of dogecoin (Score:5, Interesting)
https://twitter.com/ummjackson... [twitter.com]
I am often asked if I will “return to cryptocurrency” or begin regularly sharing my thoughts on the topic again. My answer is a wholehearted “no”, but to avoid repeating myself I figure it might be worthwhile briefly explaining why here
After years of studying it, I believe that cryptocurrency is an inherently right-wing, hyper-capitalistic technology built primarily to amplify the wealth of its proponents through a combination of tax avoidance, diminished regulatory oversight and artificially enforced scarcity.
Despite claims of “decentralization”, the cryptocurrency industry is controlled by a powerful cartel of wealthy figures who, with time, have evolved to incorporate many of the same institutions tied to the existing centralized financial system they supposedly set out to replace.
The cryptocurrency industry leverages a network of shady business connections, bought influencers and pay-for-play media outlets to perpetuate a cult-like “get rich quick” funnel designed to extract new money from the financially desperate and naïve.
Financial exploitation undoubtedly existed before cryptocurrency, but cryptocurrency is almost purpose built to make the funnel of profiteering more efficient for those at the top and less safeguarded for the vulnerable.
Cryptocurrency is like taking the worst parts of today's capitalist system (eg. corruption, fraud, inequality) and using software to technically limit the use of interventions (eg. audits, regulation, taxation) which serve as protections or safety nets for the average person.
Lose your savings account password? Your fault.
Fall victim to a scam? Your fault.
Billionaires manipulating markets? They’re geniuses.
This is the type of dangerous “free for all” capitalism cryptocurrency was unfortunately architected to facilitate since its inception.
But these days even the most modest critique of cryptocurrency will draw smears from the powerful figures in control of the industry and the ire of retail investors who they’ve sold the false promise of one day being a fellow billionaire. Good-faith debate is near impossible.
For these reasons, I simply no longer go out of my way to engage in public discussion regarding cryptocurrency. It doesn't align with my politics or belief system, and I don't have the energy to try and discuss that with those unwilling to engage in a grounded conversation.
I applaud those with the energy to continue asking the hard questions and applying the lens of rigorous skepticism all technology should be subject to. New technology can make the world a better place, but not when decoupled from its inherent politics or societal consequences.
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Whether you think what has been said there is right or wrong, surely the maker of Dogecoin WOULD say that?
It was created as a joke coin to show how ridiculous crypto is. I'd be surprised if the maker of that sort of coin didn't have the above feelings.
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He has a point. And yes I remember one of the selling point of cryptocurrency ( BTC at the time before there were any others) was the removal of government from the equation. A Libertarians wet dream since no one likes govern*-ment.
*Self-govern would be more acceptable.
Not just him. (Score:3)
People on the GME subs on reddit have been getting harassment and threats along with people falsely claiming that prominent users are suicidal. The Apefest thing is also very suspicious and might lead to a kidnapping or assassination.
Smart man leaving cryptocurrency (Score:1)
Proof of Stake (Score:2)
It's a good time to sunset from Eth, before PoS goes live.
It would be harmful to his exit to say such things as well.
Re (Score:1)
Re (Score:1)