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midas commented on LastPass user vaults stolen in recent hack   blog.lastpass.com/2022/12... · Posted by u/mikece
nycdotnet · 3 years ago
This repo claims to document the vault format.

https://github.com/cfbao/lastpass-vault-parser/wiki/LastPass...

midas · 3 years ago
Notes field appears to be encrypted!
midas commented on Bitcoin Is Near All-Time Highs and the Mainstream Doesn't Care Yet   visualcapitalist.com/bitc... · Posted by u/giuliomagnifico
jfengel · 5 years ago
You should absolutely come back in a few years and discuss it with me. I'm entirely prepared to be wrong.

I can see an end-state in which Bitcoins reach a tipping point that they would become a default for transactions. That would give them a basis for value, the total value of all the world's transactions divided by the total base if Bitcoins (yadda yadda velocity of money and other hand-wavey stuff; I'm not doing the math here since that's not the point).

I consider that unlikely for a number of reasons. Some are technical (the weight of Bitcoin is so high that most people end up using an online provider, which is no easier than just using any other spending app) and some economic/political (if blockchain really works for currency, a government could easily set one up by fiat without rewarding speculators in any existing cryptocurrency).

While that end-state could happen, a stablecoin gets there faster. People could buy and use a stablecoin today, without making every transaction a speculation. Of all the cryptocurrencies, Bitcoin attracts the most attention, and is most driven by speculation rather than any kind of store of value. While Bitcoin's notoriety could be the reason it becomes the one that stands out, I believe that it's more likely to be a different one (most likely a stablecoin, probably backed by a government).

So there, I explained my reasoning. It could be wrong, and if so, it will hopefully be clear where. There will be no reason for me to either feign ignorance or double down: I'd be more interested in learning the lesson of what I missed than defending my ego. It costs nothing to my ego to be wrong, only in failing to learn.

midas · 5 years ago
How do you explain that gold is worth so much more than bitcoin and is barely ever used in transactions?
midas commented on Ask HN: What to do after $8M (all cash, post tax) exit?    · Posted by u/throwaway8m
midas · 7 years ago
I wrote this comprehensive guide that sums up what I’ve learned in the years since I found myself having to solve this (awesome) problem: https://medium.com/@michaelflaxman/how-to-preserve-and-grow-...

In your specific case, I’d consider investing a small chunk of the proceeds in a qualified opportunity zone fund. The tax incentives are massive, but there are a lot tradeoffs that you’re unfortunately probably not in the best place to fully work through right now :(

u/midas

KarmaCake day868January 19, 2011
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