126 sats \ 2 replies \ @dk 12 Mar \ parent \ on: AMA - Danny Diekroeger Founder of Deezy Labs - Ordinals, Lightning, and More AMA
do you open the software to any 3rd parties who want to run it or do you only work with exchanges?
what are the privacy and security tradeoffs to sat hunting?
We work with individuals and investment funds who want to run the hunting strategy. They run our software on their server, and hook it up to their account on Coinbase or Kraken or another exchange. Then they load it up with their coins and the funds move between their server's wallet and their exchange account, and the software spits out rare sats. We basically are providing the tooling for anyone to run this arbitrage. The exchanges are just kind of sleeping and not capturing any of value except for the withdrawal fees they charge.
Security risks are:
- Coins are in hot wallets all the time
- Exposed to a potential advanced attack through our software: https://github.com/deezy-inc/sat-hunter
- Risk of the exchange you're using going FTX and losing your coins
Privacy:
- People can kinda see that your coins are hunting, and we can see your balance
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sounds like casinos can be built on anything
and human nature likes novelty and to play games
and to populate new domains with such activities
and where there is demand, entrepreneurs will build stuff
and vc will look for anything that can make them gains or new ways to exit
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