What’s up today? (Part 2)

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Interesting. Aiming to port the Linux Kernel to WASM … the browser is slowly becoming a sandboxed OS.

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Enter a caching service powered by the Safe Network! A plugin for browsers to see cashed versions of websites.

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Put me down for a few of these :slight_smile: #Meshtastic

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Don’t know if you guys followed the Genesis shitshow but alt.co is one on the top 10 creditors there with more than $70m assets locked.

I have been elected at Litigation Oversight Committee to represent all creditors.
We are going after Barry Silbert a true fraudster who is at par with Sam in terms of evilness

What’s interesting is not only the fraud has been acknowledged by NYAG but when the judge validates this claim we somehow create a precedent in the bankruptcy laws in the US by avoiding dollarization of crypto assets.

NYAG claim is subordinated and floating and inflates as btc price goes up thereby allowing recovery in kind through a victim fund. It’s very sophisticated and fair and gave me back hope in the US judicial system.

For the record DCG borrowed from Genesis an affiliate and then fraudulently locked the BTC into Grayscale trust through third parties like 3AC which were incentivized to capture an arbitrage. This allowed DCG to make 2% management fee with GBTC.

When 3AC collapsed he secretly wrote a sham 10y promissory note for 1.1bn, whilst representing in public he had bailed out Genesis with a cash injection and soliciting investors for more funds. He was at the board of Genesis the whole time.

This whole scheme is the direct cause of last crypto winter.

Barry thought he could weaponize US bankruptcy laws against creditors: if BTC price collapse Genesis would go under but BTC would remain at DCG. If BTC goes up, give back dollar to creditors but keep the crypto upside for DCG.
Well hopefully we will eventually lock him in jail where he belongs.

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On a purely selfish level is there a path here for all those billions of GBTC going to market?

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Absolutely not.

First, all BTC creditors are hodlers.
Second the GBTC/BTC swap process is done in kind by some security houses

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9 posts were merged into an existing topic: Ukraine

This is short 5 min video on the issues with cloud. Safe Network is positioned perfectly to address this huge and growing problem.

AWS is one of Amazon’s most profitable businesses.

Cloud providers deliberately complicate the pricing model to obfuscate the real costs.

Longterm support of enterprise is how they also keep customers.

Ingress of data is free. Egress of data is not.

37 Signals was looking at a 300k to 400k egress bill to migrate out of S3.

Main Points/Arguments

  • The Profitability of Cloud Computing: AWS leads the cloud computing market, followed by Microsoft Azure and Google Cloud Platform. The video highlights how selling cloud services has become a highly profitable business model, thanks to high operating margins.
  • Addiction by Design: Cloud providers lure customers in with free tiers or substantial startup credits, betting on long-term profitability from their customers. The complex pricing models and long-term contracts add to the stickiness of their services.
  • Vendor Lock-in and Egress Fees: A significant tactic to retain customers is through egress fees, which are costs associated with transferring data out of the cloud provider’s network. These fees make it financially unviable for many to switch providers, essentially locking them in.
  • Proprietary Technology and Ecosystems: Cloud providers offer custom databases and managed services that further complicate migration to other platforms. This proprietary technology ecosystem makes it difficult for users to leave without significant effort and expense.

Solutions to Cloud Addiction

  1. Avoiding the Cloud Altogether: For those willing to invest upfront and manage their own infrastructure, bypassing cloud providers is an option, albeit expensive and labor-intensive.
  2. Using Open Source and Multi-Cloud Strategies: Opting for open-source technologies allows for more flexibility and the possibility of a multi-cloud or hybrid approach, reducing dependency on a single provider.
  3. Embracing the Cloud: Accepting the convenience and integrated solutions offered by cloud providers, despite the potential for higher costs and vendor lock-in.

Conclusion

The video concludes by weighing the convenience offered by cloud services against their costs and the challenge of vendor lock-in. It suggests that users carefully consider their options, whether it means embracing the cloud fully, adopting a multi-cloud strategy, or avoiding the cloud when possible.

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Change of topic… :wink: how many SNT should we get for testnets, Ian just commented in github floating the idea of 1 SNT as in recent tests it worked out at about 0.002 per GB.

I think even 1 is too much.

Edit: i was wrong. He said 0.01

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can you link the comment ?

1 SNT per node per test net ?

Agh correction he said 0.01. I agree!

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ahh to stop the mad mental uploading probably a good idea.

going to need a script to strip node earnings into the master wallet :slight_smile:

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Yes I think so, it will be sooo much better if we value the tokens. Free money is pointless.

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9 posts were merged into an existing topic: Update 8 February, 2024

Meanwhile in testnets-at-home land with the latest…

willie@gagarin:~/projects/maidsafe/safe_network$ testnet --clean 

--snip ---

Node started

PeerId is 12D3KooWP6LgLkVbCx7FM8GGqw6AzpJD2zj59y5vpr2gBeeSgb6W
You can check your reward balance by running:
`safe wallet balance --peer-id=12D3KooWP6LgLkVbCx7FM8GGqw6AzpJD2zj59y5vpr2gBeeSgb6W`
    
RPC Server listening on 127.0.0.1:12024
2024-02-12T23:06:41.459080Z  INFO sn_testnet: Launching node 25 of 25...
Verifying nodes in 10 seconds...
Logging to directory: "/home/willie/.local/share/safe/node/12D3KooWMnGiytTMvPxNbWeda1qrkoW4PtnyiLnT6yrCEEPXj5Aq/logs"
Metrics server on http://0.0.0.0:38973/metrics

Node started

PeerId is 12D3KooWMnGiytTMvPxNbWeda1qrkoW4PtnyiLnT6yrCEEPXj5Aq
You can check your reward balance by running:
`safe wallet balance --peer-id=12D3KooWMnGiytTMvPxNbWeda1qrkoW4PtnyiLnT6yrCEEPXj5Aq`
    
RPC Server listening on 127.0.0.1:12025
Verifying nodes in 9 seconds...
Verifying nodes in 8 seconds...
Verifying nodes in 7 seconds...
Verifying nodes in 6 seconds...
Verifying nodes in 5 seconds...
Verifying nodes in 4 seconds...
Verifying nodes in 3 seconds...
Verifying nodes in 2 seconds...
Verifying nodes in 1 seconds...

======== Verifying Nodes ========
Checking log files to verify all (25) nodes have joined. Logs path: /home/willie/.local/share/safe/node
Number of nodes found in logs: 1
The application panicked (crashed).
Message:  assertion `left == right` failed: Unexpected number of joined nodes. Expected 25, we have 1
  left: 25
 right: 1
Location: /home/willie/projects/maidsafe/safe_network/sn_testnet/src/check_testnet.rs:77

Backtrace omitted. Run with RUST_BACKTRACE=1 environment variable to display it.
Run with RUST_BACKTRACE=full to include source snippets.

Anybody seen similar?

built with cargo build --release --features=local-discovery,open-metrics

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Nvidia is about to surpass Amazon in market cap. :melting_face:


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