Jesse Powell

Jesse Powell @jespow

@WatcherGuru Only for US accounts. Rest of world continues staking as usual. — PolitiTweet.org

Jesse Powell @jespow

@LefterisJP @tier10k Only US so headline as written is false. Staking continues unchanged and uninterrupted outside of the US. — PolitiTweet.org

Jesse Powell @jespow

good move https://t.co/RQBtbTQ2nK — PolitiTweet.org

Jesse Powell @jespow

ASD have an uncanny ability to reject labels and tradition. Gender norms are historically and geographically widely varied, which make them seem arbitrary. Disassociation is not a new phenomenon. What’s new is the “cure” for divergent thinking being pushed by medical “experts”. — PolitiTweet.org

Jesse Powell @jespow

@m1ndspray @Twitter Facebook has done it. https://t.co/ebTjxZzaYl — PolitiTweet.org

Jesse Powell @jespow

@turbXBT @Twitter I'll put you down as a "maybe" for the dick. — PolitiTweet.org

Jesse Powell @jespow

Revenue idea for @Twitter: Love Birds (Dating) ☑️ opt-in 😍 love a profile 🙈 match to reveal 📐 custom exposure (following, geo) 🧮 show unmatched love count 🪙 $5/mo + verified sub ❤️ red check for registered couples 🐣 1 hatchling badge per Twitter baby That's it. Simple. — PolitiTweet.org

Jesse Powell @jespow

@LauraPowellEsq Sorry, my dude. Gonna have to at least clear this bar if you want to be mistaken for a woman. https://t.co/QuBFRk74k8 — PolitiTweet.org

Jesse Powell @jespow

What a coincidence. The views of Mimsytang CEO, Billazonk Vumblepoof, exactly match the views of #ChatGPT. I couldn't find the source material, myself. https://t.co/uQfRQijrNN — PolitiTweet.org

Jesse Powell @jespow

@0xchadles It's not always concerns. The comments could be extremely valuable. You can't aggressively close comments that are actively being debated. Another problem with Google Docs is it's impossible to track resolved comments. Setting for only OP can resolve would be nice though. — PolitiTweet.org

Jesse Powell @jespow

Commenting on dense docs in Google Docs is a nightmare. Once you get past more than like 2 comments/replies on a page, it's horribly cluttered and very hard to track. Is there a better tool for collaborating on heavy docs that require a lot of comments and discussion in replies? — PolitiTweet.org

Jesse Powell @jespow

@FortuneMagazine That's one helluva typo. The headline of the article says @Gemini but this is about Genesis. cc: @tyler @cameron — PolitiTweet.org

Jesse Powell @jespow

@robustus @henleym25 @nic__carter The question is whether UX could be achieved without the scam. If numbers didn't have to add up and we could be fractional, lending client funds to ourselves, taking the other side of every trade regardless of losses, etc. the UX could be much improved. Open to feedback! — PolitiTweet.org

Jesse Powell @jespow

@exxcellsior @krakenfx It's something we're thinking about medium-term. Are there certain features right now that are especially annoying to use because you have to go back and forth between apps? Anything we should prioritize adding support for in one app or the other? — PolitiTweet.org

Jesse Powell @jespow

@sergitosergito @tomlombardi The BK trustee would be trying to collect on all loans. If you borrowed funds, deposited them on the exchange and the exchange got hacked, you still technically owe the funds for the loan back. They might even take your collateral if you don't pay off the loan (of hacked funds). — PolitiTweet.org

Jesse Powell @jespow

@sergitosergito @tomlombardi For this particular product, it didn't sound like you were limited to only trade CFDs or Futures with the "mirrored" balances. I could be missing something though. IDK if the custodian is actually sufficiently segregated but conceivably, it's possible. Who is the lender though? — PolitiTweet.org

Jesse Powell @jespow

@sergitosergito @tomlombardi if it's only for trading Futures, it makes more sense. If it's for trading spot, the coins have to come from somewhere. — PolitiTweet.org

Jesse Powell @jespow

@sergitosergito @tomlombardi Ya, but it's credits of real tokens that can be withdrawn so unless it's ok for the exchange to be insolvent, it needs to maintain a 1:1 assets:liabilities, which means actual tokens being borrowed from somewhere. If loan not forgiven in BK then no benefit to custody product. — PolitiTweet.org

Jesse Powell @jespow

@sergitosergito @tomlombardi So it's ~4h collateralized loans. Still unclear where the tokens for the loans are coming from and what happens to the debt and collateral in an insolvency + bankruptcy scenario. Does the setup actually achieve any protection for the user of the custody product? — PolitiTweet.org

Jesse Powell @jespow

@sergitosergito @tomlombardi So it's loans then. You get a loan against your (secured?) balance at some custodian. Where is the money for the loans coming from? Is there loan forgiveness if the exchange blows up? Does that count as taxable income? Is this only for Futures contracts and not spot trading? — PolitiTweet.org

Jesse Powell @jespow

@VanAmAdvisory @_DavidSFreeman So the exchange itself is taking the other side of the trades made by the users trading out of the "cold" custody balances? If you can only trade OTC or vs the exchange, it makes more sense. If you're trading on the normal order books vs retail, seems like printing fake coins. — PolitiTweet.org

Jesse Powell @jespow

@sergitosergito @tomlombardi 1. where are the loans coming from? a) other client balances? b) exchange's own balance sheet? c) nowhere, fake numbers in a database 2. who's holding the collateral for the loans? a) exchange b) someone else? c) nobody? 3. in bankruptcy, how are losses distributed? — PolitiTweet.org

Jesse Powell @jespow

@EthosVentures @CryptoLira Most exchanges take the coins in to their custody — they don’t let you keep custody and trade with fake coins or coins borrowed without collateral. The exchange needs to deliver the sold coins to the buyer. How do you make delivery when you don’t have control to move the coins? — PolitiTweet.org

Jesse Powell @jespow

@CryptoLira @riclas_ Yeah, lots of misleading marketing/over promising out there that likely won’t be realized until the money’s gone. There is no point in “segregated” if ultimately all still part of the same pool of funds exposed to hacks/theft/insolvency/bankruptcy. — PolitiTweet.org

Jesse Powell @jespow

@_DavidSFreeman You have to move them if they’re traded to another user. If it’s just posting collateral then yeah, not needed to move but then it’s also not really cold and the actual coins traded need to come from somewhere. — PolitiTweet.org

Jesse Powell @jespow

@kristjandekleva If actually "cold" how are they moving coins in a timely manner? Also, can it be worth it to constantly be settling on-chain? Maybe for clients who trade very rarely? Maybe it's not actually cold but multisig? — PolitiTweet.org

Jesse Powell @jespow

@CryptoLira Right, which, unless the exchange has a massive balance sheet to extend these loans itself, it is essentially borrowing funds from other clients to facilitate this credit. Which means, everyone not using the "custody" product will be that much more screwed in an insolvency. — PolitiTweet.org

Jesse Powell @jespow

@_DavidSFreeman I get the multisig setups, though it's not truly "cold". I could see that working for very low frequency traders. If you're trading very frequently, the fees to keep settling on-chain from the multisig wallet could be painful. — PolitiTweet.org

Jesse Powell @jespow

@CryptoLira I was wondering about the "cold custody" products at another exchange which claims to somehow both keep your coins in cold storage, (presumably) not exposed to hacks/insolvency, yet also allow you to trade with those coins on the exchange at the same time. — PolitiTweet.org

Jesse Powell @jespow

@druidian In this case it's the exchange actually lending you the coins and if you don't release the coins to the exchange to pay your debt, the exchange pays it from the balance sheet (or other client funds and becomes insolvent)? — PolitiTweet.org