Unfortunately for us, Pepe accidentally scored one basket and won and so we had to escape the country immediately before he was executed.
After reaching out to Virgil Griffith’s lawyer we learned that Griffith will be unable to post bail as he’s “all-in” on Crypto and the United States Government won’t accept Ethereum. They mentioned they could possibly be talked into accepting Bitcoin but by the time the confirmations go through Virgil would have already done his time. Our reporters learned that he is being held in Los Angeles at the Metropolitan Detention Center, where he is in a holding cell with other inmates from LA. We now know that Mr.
Right now, the US, EU, etc. have sanctioned individuals and countries. Avoidance is by escaping detection.
The way to plug the hole is to block dollar movements into or out of cryptos totally.
Sanctions on individuals or countries don’t work. Total blocking of monetary transactions into or out of cryptos is the real threat.
High taxes might have a similar impact.
Buying anything with Bitcoin constitutes a sale of Bitcoin. It is a taxable event.
Hunt brother silver cornering
The Hunt Brother Silver Cornering collapse also comes to mind. At one point the Hunt Brothers controlled most of the silver in the world.
Federal commodities regulators then introduced special rules to prevent any more long position contracts from being written or sold for silver futures.
Shorts piled on. The price collapsed.
North Korea. On April 12, 2022, Griffith was sentenced to 63 months imprisonment for assisting North Korea with evading sanctions.
Griffith was born in Birmingham, Alabama and grew up in nearby Tuscaloosa. He graduated from the Alabama School of Math and Science in 2002, and then attended the University of Alabama, studying cognitive science. He transferred to Indiana University in 2004, but returned to graduate cum laude from Alabama in August 2007. In 2008, he was a visiting researcher at the Santa Fe Institute. In 2014 Griffith received his Ph.D. from the California Institute of Technology under Christof Koch in computation and neural systems with funding from the U.S.
But the most damning allegations about Buterin appear to show that Griffith had held direct conversations with the former about Griffith’s North Korea plan – although Buterin was named in the filing only as “Individual-1.” This “individual” – named as a “co-founder of the Ethereum Foundation and Griffith’s ultimate boss,” “appears to have discouraged Griffith from proceeding with the node,” the filing outlined.
Regardless, Griffith allegedly continued to speak to Buterin about the matter – and the former even allegedly text messaged Buterin “to say the North Koreans were interested in an aspect of Ethereum and that it ‘could be high visibility work.’”
There does not appear to be any evidence from the prosecution suggesting that Buterin actively encouraged Griffith.
With that, let’s return to sanctions, sanction avoidance, and weaponizing the US dollar.
Janet Yellen warns China on Russia and creating a bipolar global financial system
Let’s tune into a speech by Treasury Secretary Janet Yellen in which she warned China about cooperating with Russia.
Many people thought this was in relation to the US dollar as the world’s reserve currency.
It wasn’t. It was about evading sanctions.
For discussion, please see Janet Yellen Warns China on Russia and Creating a Bipolar Global Financial System
Treasury Secretary Yellen is worried about Russia avoiding sanctions via China, India, etc. Numerous countries will establish ways of avoiding the US dictating sanction policy for the world.
Ethereum and Bitcoin are just two more methods.
The interesting bit about this story is the implicit recognition that you can use the Ethereum blockchain to evade sanctions. But trying to keep that information secret seems rather pointless to us. Not everybody understands this stuff, but the information is all out in the open.
At this point, let’s cut to what appears to be an unrelated debate: on the impact of the current Russia sanctions on the future role of the US dollar as the world leading currency.
We have heard a number of US commentators argue that it won’t have an impact at all. We believe that this is also the view of the US Treasury.
The argument is most cogently formulated by Michael Pettis who cites three reasons: there is no available alternative now; no other country/region of the world is willing to incur large current account deficits to absorb the associated costs that come with that; and the global economy would otherwise go through a very disruptive restructuring shock.
Unlike the North Koreans, the Russians have demonstrated in the last few weeks that they are already experts at evading sanctions. When economists talk about the dollar as a global currency, they stay within the framework they normally use: that of monopolistic fiat currencies issued by central banks. There is no threat to the dollar from another currency, like China’s renminbi.
Technology” to launder money across global borders with Crypto. This is hot off the news of Kim Jong-un’s failed shitcoin launch for NUCLR (Nuclear Coin), a coin backed by oppression, uranium, and faith in their Dear Leader.
Determined to find out how a single individual such as Virgil Griffith could not only be so boneheaded as to be a US citizen and help North Korea launder money, but more importantly, ruin Ethereum’s only viable pivot, our reporters got to work uncovering what may be the dumbest case we’ve ever come across.
Our reporters discovered that the story all began during a cast reunion at the AVN awards in Las Vegas, NV for Virgil Griffith’s cringe TBS show “King of the Nerds.” The venue was set to be held at the adult convention as most of his former cast had to “pivot” into other types of work following the show.
Ideal Free Distribution in Agents with Evolved Neural Architectures. Indiana University School of Informatics and Department of Cognitive Science.
- King of the Nerds (season 1)
- ^“U.S. Citizen Who Conspired to Assist North Korea in Evading Sanctions Sentenced to Over Five Years and Fined $100,000”.
U.S. Department of Justice. April 12, 2022.
In a not-so-surprising twist, Ethereum’s narrative has changed once again. Once described as the world computer, the world’s largest ponzi platform has modified its mission statement after its last pivot to a way to raise money from unintelligent retail investors for illegal securities fraud failed. In an attempt to keep the price artificially inflated and give old bagholders one last chance to finally dump their positions before the project crashes and burns, Ethereum has finally settled on its newest and most hopeful use case yet: helping North Korea avoid sanctions from the United States.
The man responsible for what may unironically be the dumbest pivot of all time is none other than Virgil Griffith, hero and poster-child employee of the Ethereum Foundation.
He pleaded to avoid a maximum 20-year sentence for violations against the International Emergency Economic Powers Act, a dubious law to say the least.
He will now go to prison for discussing what was already widely known to the underworld. I rather doubt he presented anything that was not already widely known in Russia and North Korea.
Worry about Ethereum, not the renminbi
Eurointelligence comments Worry About Ethereum, Not the Renminbi.
This is a story that appears at first as outside of our reservation, but we think it has a deep significance for a debate that is well inside. A young American programmer has been jailed by a New York court for 63 months. The reason is that he accepted an invitation to go to North Korea, where he gave a presentation to the Pyongyang blockchain and cryptocurrency conference.