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That's an awful idea in at least three different ways but the people behind it aren't likely to have much time to enjoy the chaos because they are dumb enough to market the idea with "50%+ annual returns".
Yes, anything that offers that is a Ponzi scheme - or a robbery - and yes, the feds do still take a dim view of such things.
Unless they're the ones running it.
Weekends are Question and Answer time. Drop your tech questions in the comments and I'll attempt to answer them tomorrow.
They weren't hacked and subscribed to garbage services as I first thought. Rather, after updating the libraries for a code deployment (Ruby libraries are called "gems") their software charged existing customers an extra $73k.
Why?
Because (after much debugging on their side) there was a change in what "or" meant in a MongoDB database library.
The maintainers of that library should be strapped to the outside of a rocket and launched directly at Cygnus X-1 because you do not ever, ever, ever do that.
Web3 is the web, only fucked up with catastrophically bad blockchain implementations which promise to decentralise everything but in fact centralise it on new platforms that don't answer to you any more than the current ones do but also cost you money.
The article gives a specific example of the rapid corruption of a supposedly decentralised protocol.
But the area is involved in making key components for EUV lithography, and ASML is the only company in the world that makes machines for EUV lithography.
And EUV lithography is what is used to make all the latest computer chips. All of them.
Rant Like It's 2022 Video of the DAy
Party Like It's 1980 Video of the Day
Disclaimer: When the server goes offline, you must whip it. Losing site uptime? Gotta whip it.