What's up Steemians
I wanted to supplement this vlog with a blog entry. When doing my vlogs I pretty much go off the cuff. Given the state of things right now I feel that it helps to direct my thoughts down on paper sort of speak.
The three topics that I'm covering are loosely tied together. If there is one major theme for this week it is chaos and confusion.
ORDO AB CHAO (Order Out Of Chaos)
There is nothing new under the sun. This has been the tactic used by those in power time and time again. It comes from the school of thought that in order to "speed up the process" you need to shake things up.
The easiest way to implement your agenda is to cause as much confusion as possible. People are more acceptable of a "solution" because they want things to go back to "normal"
Spectre/Meltdown
Companies have been scrambling to patch a flaw that allows an attacker to gain access to the most sensitive data on a person machine without obtaining permission. The attempt to patch this flaw has been nothing but problematic.
These two vulnerabilities are separate but essentially target the same thing.
Meltdown got its name because it "melts" security boundaries normally enforced by hardware. By exploiting Meltdown, an attacker can use a program running on a machine to gain access to data from all over that machine that the program shouldn't normally be able to see, including data belonging to other programs and data that only administrators should have access to
By exploiting the Spectre variants, an attacker can make a program reveal some of its own data that should have been kept secret. It requires more intimate knowledge of the victim program's inner workings, and doesn't allow access to other programs' data, but will also work on just about any computer chip out there.
This 20 year old "flaw" was discovered by three separate researchers around the same time. I find this extremely weird!!!
If I've learned anything since Snowen leaked the NSA's program is that they had a backdoor into almost everything. If they didn't put this flaw in place they knew about it a long time ago and decided not to tell that they found it. This affects EVERYTHING!!!
If you want to learn more about it check out this article that breaks it down.
Crypto Meltdown
Pretty much all of the crypto's in the top 100 are down 18% or more!!!
In a high risk, high reward environment days like today are almost inevitable. The market shed over $100 billion dollars in value in the past couple of days.
A lot of new people that have gotten into this market are probably pulling their hair out at the moment. As bad as it seems I want to show you a pic that I found on twitter that put is a bit into perspective.
This might be part of a natural cycle forming in crypto or it might be that around the beginning of the year a lot of negative things happen that send cryptocurrency markets in a tailspin. For new investors coming into this space they might be feeling whiplash at this point.
A lot of people are trying to keep their money in crypto to avoid taxable events and that is probably adding to the pain. All I can say is try to make good decision and don't trade on emotion because 9 times out of 10 your judgement will be a bit cloudy on the up and down side of a trade.
Government Shutdown
If the leaders of the U.S don't get their act together by this friday the government will go into a shut down. How much will this cost not only the government but the U.S economy? Well last time it was $24 billion dollars a day.
If you think the crypto markets losing $100 billion is bad you ain't' seen nothing yet. This just adds to the chaos that we have already been experiencing in Washington. I think it is pretty much a certainty that there will be no agreement reached by this Friday. Now it's a game of chicken and each side is trying to call the others bluff. I feel like both parties will suffer from this. The people are pretty tired of this mess.
What's Next
It's hard to say at this point. If you have noticed chaos is pretty much the theme for this week. Be very leary of any solutions that are going to be presented to "fix" our problems.
As far as crypto goes please understand the risks when investing into these projects. Most of these projects are just ideas with no viable product. Especially the plethora of ERC20 tokens. I would say try to figure out what your endgame is and execute it. Don't be greedy and manage your fear.
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Pertaining to the crypto meltdown...I think we are going to bounce back from it for sure. This ride isn't close to over lol.
Yea It's just a matter of figuring out the bounce. Things Re pretty wild right now.
with your knowledge of cryptocurrency and calm manner you are helping a lot of people wade through the tough times. thanks and right now I don't feel the fall out will lasts long--this time...
There are a lot of different forces at play right now. Thanks for the insight you sent me this morning. I'm going to stay vigilant.
The market is going to bounce back. Right now I think there is just a perfect storm of FUD going around combined with weak hands not holding. I think once the Lunar New Year is over and tax season starts up we will be back on the bullrun.
Great post and thanks for the analysis.
Good informative post as always. Although I hope this crypto meltdown is temporary.
It's hard to say. For the most part you will be fine as you have not put any money into it. Only your time 😁
Welcome back 😉. You promised you will come back and you did. I might keep an eye on you, you still give good advices. I believe the same thing; in crypto you can't show emotions.
Always keep my promises 😁. Yea to much going on right now for me not to be on here.
"This 20 year old "flaw" was discovered by three separate researchers around the same time. I find this extremely weird!!!"
This is actually true of tons of "human" innovation. It is like the solution clicks into multiple brains at the same time, or if one mind solves the problem... the problem becomes easier to solve for the rest.
I remember a biology class where we were talking about early man, the hunted with long sticks that they would poke prey with. (Don't ask me how 'they' think they know this... but stick with me). Data from many different places had man holding long sticks and stabbing their prey with it. It happened in multiple, far off locations, at nearly the same time that man figured out he could throw a sharp stick and have better results. The spear was invented at the same time by multiple people. Fascinating. You have another example showing up with these spectre variants.
Thanks for the blog.
I do think that there is a collective consciousness but I think the NSA has been exploiting this flaw for a very long time. I feel that we are in a big transition and all eyes are on 2020...
That is what they do. I will keep my eyes 20/20 as that is what will be required to make it to the other side in one piece. Good lookin' out! Keep it up.
Good talk, though I enjoyed the convo.
Personally I don't think they should tax anything...nothing within the cryptocurrency realm is owned or attributed to the government. i think when we speak about them taxing us...its dangerous talk because we're in a sense inciting them...making them even think that they have a right to tax anything on cryptocurrency. They didn't create the coins, don't control the network and aren't even given it the respect of it being currency with legitimate utilization in the real world. They've even now began attributing it to terrorism...I mean are we insane??? Yet we run to try to give them their share. The IRS is still a bully organization with many loopholes and technically not even legal in certain aspects of our income. You know what I been through so I respect nothing government...justice, law, schooling, tax, etc, we can go on...LoL
Yea man I agree but you have to pick your battles. The government is trying to scare people. They basically said that any American that contributes to the Venezuela Petro cryptocurrency would be breaking the law. But how would they know and what resources would they use to determine that.
I've done a lot of government work in the past plus I had my own consulting business so I error on the side of caution when it comes to taxes. I'll pay the protection money if it means that they will leave me alone.
Yeah....I just ...ugh man....They piss me off. But I understand picking the battles.
yo creo que muy pronto volvemos en verde sin ninguna duda.
Not exactly sure what you said. I should probably use Google translate.
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Here my is article on how meltdown and spectra works.
https://steemit.com/meltdown/@aveshnaik007/here-s-how-meltdown-and-spectre-works-and-how-your-computer-is-vulnerable-to-them