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MASTR · 2024–2026

Alle Publikationen · 4

Originalrecherchen, kritische Essays und die Gespräche dahinter. Lies nach Thema, folge einem Thread oder finde Personen und Projekte in den Quelltexten.

694 · Ausgewählte Beiträge · 4/29

Coldcard: firmware history, signatures and review questions — original source image
Onchain-Untersuchungen

Coldcard: firmware history, signatures and review questions

There are too many details here that deserve a closer look: the firmware vulnerability itself, the "switck" identity, Peter D. Gray / @DocHex, the GPG signatures linking the accounts, the integration of "libngu", the development history, and…

Recherche und Analyse8 min
Recherchemethoden

Why serious security research struggles to pay for itself

Security, research and honest information have almost no economic value in crypto because they require the one thing this industry despises more than regulation: sustained attention.

Kommentare und Rants4 min
MiCA authorisation: checking the legal entity behind an exchange — original source image
Börsen und Verwahrung

MiCA authorisation: checking the legal entity behind an exchange

It does, however, mean that a specific European legal entity has passed an authorisation process and is subject to regulatory supervision, governance rules, prudential safeguards, client-asset protection requirements, complaints procedures,…

Recherche und Analyse3 min
Crypto’s attention economy and the cost to useful work — original source image
KOLs und Werbung

Crypto’s attention economy and the cost to useful work

Crypto is starving while directing an absurd share of its attention toward disposable tokens, manufactured narratives and products designed to monetize impulse before anyone has time to ask what they actually bought.

Recherche und Analyse5 min
KOLs und Werbung

When low-effort posts bury original work

Even some people I genuinely like have started posting complete bullshit because apparently that is what the algorithm rewards now.

Kommentare und Rants2 min
KOLs und Werbung

Can useful products survive without a hype machine?

More accurately, I started building it before my vacation, but the further I get, the more I wonder whether serious products have any chance here unless they come wrapped in hype, a shitcoin, or somebody already famous enough to…

Kommentare und Rants3 min
KOLs und Werbung

Bots, MEV and manufactured hype: a Web3 grievance list

- Bots. - Hype - MEV bots. - People who are in crypto but vote for oligarchs and autocrats or defend ketamine-addicted trillionaires. - AI-generated comments. - Influencers and KOLs. - Scammers. - Marketing people. - BitMart listing…

Kommentare und Rants3 min
A map of the Solana ecosystem — original source image
Netzwerke und Infrastruktur

A map of the Solana ecosystem

A detailed map of Solana’s infrastructure, from validator clients and RPCs to wallets, liquidity, security and payments.

Originalartikel15 min
Tokenisation: the asset, the claim and the marketing — original source image
Marktstruktur

Tokenisation: the asset, the claim and the marketing

I want to take a closer look at the tokenization hype and explain why most of what is being marketed as “tokenization” in this space is completely pointless garbage.

Recherche und Analyse5 min
Börsen und Verwahrung

Exchange accountability · 28 Jul 2026

It genuinely hurts to see so many people losing substantial amounts of money because yet another Web3 bank, this time BitMart, is allegedly withholding customer funds while still trying to extract additional payments before shutting its…

Kommentare und Rants2 min
Aufbau und Unabhängigkeit

KOL credibility as an inventory to monetise

They do not write code, ship products, trace funds, publish verifiable research or accept responsibility when their followers get destroyed.

Recherche und Analyse3 min
Politik und Interessenkonflikte

Trump: political influence · 27 Jul 2026

They are parading a handful of alleged $TRUMP winners across your timeline and presenting one of the most grotesque retail extraction events in recent crypto history as a “missed opportunity.”

Kommentare und Rants1 min
An archive of centralised exchange closures — original source image
Geschichte und Chroniken

An archive of centralised exchange closures

BitMart: January 31, 2027 - BitMEX: September 23, 2026 - AscendEX: July 1, 2026 - Knaken: June 2026 - March 31, 2026 - ProBit Global: February 26, 2026 - OceanEx: December 5, 2025 - Payeer Exchange: October 23, 2025 - Felixo: July 18, 2025 -…

Recherche und Analyse2 min
BitMart: the history behind the wind-down — original source image
Börsen und Verwahrung

BitMart: the history behind the wind-down

A review of BitMart’s earlier disputes, security incidents and withdrawal concerns alongside its 2026 closure announcement.

Originalartikel11 min
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