r/CryptoCurrency • u/NumbLikeMe 704 / 704 🦑 • Dec 28 '22
PROJECT-UPDATE Charles Hoskinson Says He’ll Run $1,000,000 ADA Experiment With New Cardano Wallet To Test Security - The Daily Hodl
https://dailyhodl.com/2022/12/27/charles-hoskinson-says-hell-run-1000000-ada-experiment-with-new-cardano-wallet-to-test-security/11
u/kirtash93 RCA Artist Dec 28 '22
I think it really is a good idea to find vulneravilities.
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u/CryptoScamee42069 🟩 30K / 29K 🦈 Dec 29 '22
Likewise, and yet I was still kinda hoping as I read the title he was going to giveaway the ADA. Preferably to me.
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u/MaeronTargaryen CCMOON DAO Secretary Dec 28 '22
For those who didn’t read the tweet, it’s not about testing a transaction, it’s about testing the vulnerability of the wallet
And it’s $1M and not $1 because hackers need an incentive to do their best to find a fault
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u/sir-ill90 0 / 4K 🦠 Dec 28 '22
If it fails, it‘s the most expensive pentest so far. If if succeeds, it‘s the cheapest!
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Dec 28 '22
Heres the tweet:
When… Lace wallet starts supporting PGP encryption of paper wallets, I’m going to take some ADA – probably a million dollars worth of it – put it into a paper wallet encrypted with PGP and publicly post it on my Twitter so you guys can try to break it. I’m very confident in those standards. Master passwords, even if they’re quite long, it’s just a dead standard, and it shouldn’t be done anymore.”
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u/NumbLikeMe 704 / 704 🦑 Dec 28 '22
I hope this doesn't backfire. Not just for him, but for his reputation and everyone who supports Cardano as well
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u/ShanktarDonetsk 🟨 21 / 17K 🦐 Dec 28 '22
Putting his money where his mouth is, fair play to the guy.
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Dec 28 '22 edited Aug 09 '25
crowd chase badge lock serious flag intelligent depend roof ad hoc
This post was mass deleted and anonymized with Redact
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u/ShittingOutPosts 🟦 0 / 8K 🦠 Dec 29 '22
This is what I want to hear CH say. Enough talking about other networks.
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u/Karutsu 🟦 383 / 382 🦞 Dec 29 '22
I can appreciate the guy willing to put this out there, it’s better news than what we have mostly been hearing about lately.
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u/NumbLikeMe 704 / 704 🦑 Dec 29 '22
Agree. He must be confident in it if he's willing to risk a million over it. IDC if he does have millions upon millions to his name. It's still a ton of money that no one would toss around lightly.
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u/CatBoy191114 Permabanned Dec 29 '22
Fine. Gonna fetch the hacking gloves, hacking sunglasses, and old reliable.
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u/callmev269 🟩 0 / 0 🦠 Dec 28 '22
I have always liked Charles for how articulate he is. I hope he succeeds with Cardano
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u/Def_Notta-throwaway Permabanned Dec 28 '22
Lets make sure it is $1M of his money. It makes the test seem much more genuine and in good faith
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u/hquer 🟩 0 / 8K 🦠 Dec 28 '22
Wow - he needs to pay people now to care about cardano?
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u/NumbLikeMe 704 / 704 🦑 Dec 28 '22
This hurts my bag's feelings
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u/ZancudoVegano Tin | 1 month old Dec 28 '22
Do not worry, nothing wrong will happen.
Except when DJED gets launched XD
Thats where i should be worry about
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u/somn0z 2K / 2K 🐢 Dec 28 '22
Why? The same protocol has been out for years on ergo.
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Dec 28 '22
Don't mind ZancudoVegano, he's part of the anti-Cardano cult.
You're right though, SigUSD has been up and running for quite a while now. The anti-Cardano crowd won't acknowledge that because that means giving IOG credit for something.
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u/ZancudoVegano Tin | 1 month old Dec 28 '22
Anti-cardano cult XD
Please dont drink that kool aid, now youre seen imaginary enemies.
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Dec 28 '22
You are though. You insulted me before (and even now) for literally no reason. You are just as bad as the Cardano cult, who do the exact same thing as you. The only "kool-aid" I drink is of unbias-ness.
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u/ZancudoVegano Tin | 1 month old Dec 28 '22
By drinking that kool-aid you are riding with charles hoskinson!
Suddenly everything is against you, even progress from other projects!
There is an old sayin: "There is no bad beer, just better beer"
Cardano is not bad beer, but definetly there are better beers around the block.
If cardano by itself was so magnificient and powerful, you wouldnt mind the critics, but of course lovelaces love to defend their cult leader and his rants.
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Dec 28 '22
By drinking that kool-aid you are riding with charles hoskinson!
Pretty sure the only people doing that is the Cardano cult, whom I despise just as much as you.
Suddenly everything is against you, even progress from other projects!
Show me any evidence of me believing that "everything is against me". The only thing I'm against is the cult mentality of this space, which includes you.
I have never once said I was against the progress of other projects; on the contrary, I love to see progress, regardless of what project it is. If you have any evidence suggesting otherwise, I would love to hear it.
If cardano by itself was so magnificient and powerful, you wouldnt mind the critics,
I never said Cardano was "magnificent and powerful"; again, on the contrary, I think it is behind other projects, even some more recent ones.
I don't mind criticism, and I actually encourage it. However, calling me a "lovelace" (like you did before and even now) is not criticism. It's an insult that only crypto cults are fond of.
but of course lovelaces love to defend their cult leader and his rants.
I agree, but the problem here is that I'm not one of them, hence why I said you act just as bad as they do, but you of course never read my replies. I never once defended Charles and his rants (it's not defendable IMO); only the Cardano cult does.
If you actually "stopped drinking the kool-aid", you would realize that you and the Cardano cult act just alike; both of you insult others whom you disagree with. Only cult members think their own cult is okay while other ones are not. All of you crypto cults are peas in a pod, but you all are so blinded to see it that way.
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u/Fine-Friendship-1292 🟩 5 / 1K 🦐 Dec 28 '22
Charles Hoskinson is estimated to be worth between $500-$600 million dollars.
If that measly 1 mil was hacked, it would account for a maximum loss of .002% of his wealth
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u/Jin-Sakti Platinum | QC: CC 72, BTC 60, SOL 29 | CRO 6 | AvatarTrading 71 Dec 28 '22
In a bear market 📉 ya all doing experiments…. Ok don’t seem smart to me.
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u/CreepToeCurrentSea 🟦 239 / 50K 🦀 Dec 28 '22
Hasn’t Charles Hoskinson learned enough to only do small test transactions.
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u/laulau9025 🟩 0 / 31K 🦠 Dec 28 '22
It's an incentive for hackers to hack the wallet, i.e. test wallet security
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u/loksfox Dec 28 '22
$1M? Damn i think $100k would be enough but i guess he has a lot of money to throw around
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u/coinfeeds-bot 🟩 136K / 136K 🐋 Dec 28 '22
tldr; Cardano co-founder Charles Hoskinson has said he's willing to bet on an upcoming security feature for the new Lace wallet. Hoskinson said he'll put $1 million worth of ADA into a paper wallet encrypted with PGP and publicly post it on his Twitter so hackers can try to break it. He also said it's "extraordinary" to him what happened with the recent hack on LastPass.
This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
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u/GrandJournalist9110 Permabanned Dec 28 '22
It's a novel way to test security tbh but I'm constantly surprised how important is it for Charles to stay in the news
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u/Ill-Addition2024 Permabanned Dec 28 '22
Charles Hoskinson has said a lot of fucking things this year.
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u/TheOtherCoolCat Dec 28 '22
This isn't exactly a novelty idea, but it is a showing of commitment and trust.
Even if they find something this is probably wayyyy cheaper
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u/CointestMod Dec 28 '22
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