rocqua
Joined 10 years ago
Joined 10 years ago
So mechanically Tether pockets the difference, unless they unfreeze. But as a matter of accounting, because of the unfreeze capability, the liabilities of the frozen Tether stay on the books. So they can't just spend the money. It also makes it hard for Tether to compensate the victims from the frozen funds.
The alternative would be to let Tether burn funds, but that is highly problematic for well intentioned users. Because a freeze can be challenged in court and reversed. A burn cannot.
Turns out there was decent money to be made in having your MtGox Bitcoin stolen.
The main question here is how often devices you'd want to try this against have PXE boot enabled. I'm thinking of locked down laptops mostly. Either corporate laptops, or manufacturer locked-down devices (chromebooks, I think some microsoft surfaces).
This really reduces how much we need to trust the CAs, because we can detect any untrustworthy actions after the fact. Now detecting after it happened is too late. But it does mean that mistakes or malicious actions are much more expensive to a CA. In practice this has really reduced the risk, especially to those whom aren't interesting enough to burn a valuable capacity on. Which is the vast majority of people. Though perhaps if you count TLS traffic weighted by importance that count is different.
A small part of that is more efficient administration. But the bulk of it is squeezing the customers harder, and squeezing the business for credit. Sometimes combined with a sector roll-up causing a monopoly.
Trust busting would help a little. But a lot of the pain comes from the squeezing of customers. And that’s much harder to fight back on, other than avoiding private equity.
The mathematical results are valuable as PR, but the real value might be in the improvement this can bring to other training runs.
I find this worrying because the entire economy is built on the idea of cheap physical snd cheap unskilled labor. So if we do a good job educating, we’ll need to fill these jobs by paying more rather than preying on the desperate. And I don’t see the current world being willing to pay more.
Currently working for TNO in the department Cyber Security and Robustness.