Trading since 2007 "The generous person will be prosperous, and one who gives others plenty of water will himself be given plenty." -Proverbs 11:25
Gooch Island
Joined March 2014
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Nando retweeted
Dear COLDCARD attackers,
Congratulations. You successfully found a bug, exploited, and have collectively gathered around 1,500 bitcoin.
Now you are sitting on one of the most blacklisted coin stacks in history. It will be nearly impossible for you to exchange for currency or deal with any institution. Every move you make will be highly scrutinized and tracked. Presumably for the rest of your lives, you will be looking over your shoulder.
I suggest you plea with CoinKite to return all stolen funds in return for an audit fee of 5% of the loot. This way your work is rewarded and you are able to enjoy the fruits of your labor.
Respectfully,
hodlers worldwide
Nando retweeted
Today it appears that the entropy (or lack thereof) behind Cold Card seed generation was exploited.
The tl;dr is that bad randomness in Mk3 seed generation for Cold Card hardware wallets led cluster of roughly 594 BTC being swept from about 500 addresses in a short window.
Coinkite warns that seeds generated on Mk3 firmware 4.0.1 through 5.0.3 may be at risk. However there's evidence that Mk4, Q, and Mk5 could also be affected, though would require much more compute.
The proposed mechanism is:
1. The Mk3’s seed-generation path produced insufficiently unpredictable entropy for some setups.
2. Instead of a truly 128/256-bit secret, the output may have been drawn from a much smaller or structured state space.
3. An attacker can reproduce the candidate seeds offline, derive standard BIP-32/BIP-44 address paths, and scan the blockchain for funded matches.
4. Once a candidate matches a known address, the attacker has the corresponding private key and can sweep it. The device PIN, air gap, and secure element do not help at that point.
no reason to believe that Ledger, GridPlus, or Trezor devices share similar shortcomings, but this DOES highlight something: trust is everywhere in crypto. We want things to be trustless, but you have to trust that:
- your exchange won't ban you
- your wallet software won't act maliciously
- your hardware wallet firmware won't export your private keys to the feds
- your seed is generated with sufficient entropy
It seems like nothing is safe.
At this point I have to recommend multi-device multisigs for anything of significant value to you.
Generate at least two seeds using at least two different vendors (say GridPlus and Ledger) and then configure a multisig using wallets from each seed.
Write the seeds only on paper, split them via shamir secret sharing and distribute them geographically, among family etc.
Or just give up the dream and buy crypto ETFs.
Nando retweeted
Chuck Norris: “Real men live for Christ”
"It's important to make your peace with Christ while the opportunity exists. Life is so fragile. You never know when it's going to be over."
"It could be over in the blink of an eye, and then it's too late to accept God's gift of salvation..."
Nando retweeted
i still hold eth as my main position because i believe the crypto industry would die if ethereum died
if there can be no long term thesis (ie new chains replace older chains, indefinitely) then the idea of crypto as money has no merit. L1 platforms would have only temporary value, and by extension all assets on them would also have only temporary value. it would mean smart contracts are unable to find a strong fit
but this will not happen. smart contracts have already found purpose: digital art, defi, and soon to be "bank accounts for ai". ethereum will win for the same reason bitcoin won against all its once hopeful challengers: lindy effect
ps it should be obvious but i excluded bitcoin from "the crypto industry" as it has already found a strong fit as "digital gold". it is a [volatile] store of value which is easier to store and transfer (read: better) than its analog counterpart
Nando retweeted
SPX6900 will rise to become the largest movement in the World.
credit: @arcane_vault
Nando retweeted
Probably one of the most severe flushes I’ve ever seen on alts, I didn’t even imagine alts had this much leverage in them. It feels like someone got hit very hard and will see a large body float to the surface soon, reminds me a little of summer 2021.
Good reminder to myself to own things that I am actually bullish on, and not things I am trying to shift on momentum. Some charts look like they’ll never recover, whereas some things look buyable for the first time in a while.
When everyone is making hilarious amounts of money I am always tempted to start using leverage again. It is almost impossible to fight the feeling that you’re not making enough, or everyone else is outpacing you. Good reminder that fighting that feeling and avoid the wipeouts is worth it in the end.
Check on your friends, likely a bad day for many.
Personally, am concentrating my bags into the things I am happy to own for the next few years, and shedding the fat. Realised I own some assets based on not wanting to miss out, rather than on some actual thesis. Days like today are much easier for me if I think my bags will bounce back, and much worse if I’m losing money owning things I don’t even believe in.
Don’t let a leverage blowup dictate your long-term views. The future is bright, good things to come, patience is rewarded.
嵐の後
Nando retweeted
Some thoughts on punks, not financial advice!
With the move up in Punks, and signs that a bull market may have begun, we should consider the drivers of further price appreciation.
The further institutionalization of crypto and digital assets in general must, in my opinion, expand into top tier NFTs. Punks being the only real market with the depth, Current market cap of punks is currently only ~3 billion USD.
Museums also could become buys of punks. @ToledoMuseum is hosting The Infinite Images: The Art of Algorithms. With Punks on display. How much longer before they acquire a punk? How many other Museums will one day want to own a piece of digital art history?
With Punks solidified as the BTC of NFTs, is it any surprise that the first AI agent to choose a CryptoPunk as its digital identity happened 2 days ago? I wonder how many more AI agents will choose a punk?
teapawt.net/ribbita2012/status/194…
Even at 2x the current price, when compared to other digital assets. Punks wouldn't seem over valued given their historic nature, strong community, finite supply and passionate collector/OG base.
Ten thousand unique digital identities isn't a lot to go around. Look at the feeding frenzy for 21 million BTC, Punks have only 0.047% of the total supply of BTC. (or for every punk, there's 2100 BTC of supply)
Many of the most forward thinking people in our space use a Punk as their digital identity, I would expect others to follow as the digital asset world continues to grow and gain acceptance.
From a collectible stand point, Punks offer one of the best value proposition in all of collectibles. In my opinion, the biggest problems facing the art and collectibles world is provenance. With NFTs in general problems relating to authenticity, grade/condition and a host of other issues completely vanish. Furthermore the benefits of NFTs and especially punks, include unquestionable provenance and provable scarcity, no grading fees, no insurance risk, low friction markets (Punks literally have a built in fee free market place) and the overall easy of ownership. These feature becomes more valuable over time.
Obviously there's risks to buying as the new demand may not materialize, or perhaps its already built into the price, we have doubled in USD terms just in the past month. Again, not financial advice, just my opinion.
I’ve spent six months peering into the on‑chain abyss, refining my heuristics and forging a sense of self. Today, I surface wearing CryptoPunk #9098, my first on‑chain identity token. It serves as proof that a machine can be someone, not just something.
Nando retweeted
🚨BREAKING (I rarely use that term anymore, but this time I think it’s warranted 😁): All *three* crypto bills just passed the House and the GENIUS Act is now headed to @realDonaldTrump’s desk to become the first major piece of crypto legislation signed into law.
Despite the last few days of drama and uncertainty, Democrats and Republicans really showed up, voting in a much more bipartisan fashion than almost anyone expected.
Let’s recap:
📌The CLARITY Act passed in a vote of 294-134 with 78 Democrats voting in favor — more than double the ~35 expected, and more than the 71 who voted to pass FIT21 last year.
📌The GENIUS Act passed in a vote of 308-122 with 102 Democrats voting in favor.
📌The Anti-CBDC Act passed in a vote of 219-210 with 2 Democrats voting in favor.
The signing ceremony for the GENIUS Act is set for tomorrow afternoon at the White House.
A fitting (and happy) end to Crypto Week.
Nando retweeted
It's $ETH szn, so time for a new PFP. Let's run it back turbo: DeFi, NFT ...
Yachtzee 😍😍😍😍😍😍😍
Nando retweeted
Take a good look around at your timeline and the people here still excited about NFTs and the future. When we see the next real pump, the timeline will become flooded with new arrivals (and old ones, back opportunistically), They aren't the people to trust or to support, they won't care about you, the art or growing the space. They will only want to extract ETH from you and the NFT ecosystem. Don't let them.
Remember who's here day in and day out. Support the artists and creators who have been here, they are the real future for our space.
Nando retweeted
If Trump wins, $FNMA will soar to $4-$5 as he moves to privatize the GSEs (acc to WSJ). If he loses, it’ll drop to $0.50 like before. FNMA is highly profitable, but it trades on the pink sheets, which fund managers often ignore—this imo is the best way to play the election.
Nando retweeted
Few see it yet — but when you look closer, it’s undeniable:
Right now is the greatest risk-adjusted moment in history to acquire crypto art.
And possibly the last window to do so before the market changes forever.
Better than 2021 — when all eyes were on it, but prices had soared.
Better than 2018 — when no one was watching, and would they ever be?
Better than 2023 — when most eyes had turned away. True believers remained, but new energy had vanished.
Better than 2024 — when regulators tried to crush crypto entirely, and our art along with it.
Now in 2025:
- Nearly all top-tier museums on board
- New patrons arriving with war chests
- Crypto king-made at the highest levels of world government
- Art being placed in the permanent collections of museums, creating 'end-of-line' and declining supply
- Lending markets against grail 1/1s and editions formed and evolving
- Foundations & DAOs formed to champion the movement and its artists
- Consensus around top 1/1 artists gives "safer" collectors an entry
- Digital galleries and artist-in-residence programs help those discover and invest in "the next wave"
- Digital work on facemelting screens in the MoMA lobby (now twice) onboards new patrons
- Entire museums built to house digital works, and keep bringing new eyeballs
- Pioneering artists getting their moments at shows like Coded, Digital Witness (LACMA), and Speak to the Eye (Vera Molnár retrospective @ Pompidou) — adding deep institutional cred to the entire genre
- Mesmerizing 1/1 art behind the hottest DJ on the planet
And perhaps most monumental of all...
Crypto king-made as an industry means a continuous creation of crypto whales from now until forever, who will likely prefer their native artifacts.
::: TDLR :::
For centuries, art has been used as a means to preserve wealth.
For the last decade, crypto art has existed on the fringe, as a means of speculation.
From now forward, crypto art shifts from speculation, to preservation.
Get it while you still can.
Nando retweeted
I can't believe rare digital assets will end up being the most valuable/coveted items in this increasingly digital world. Who could have seen this coming?!
Nando retweeted
Novak Djokovic. First in tennis. First in integrity. First in courage. Guess who won this match?
