<table><tr><th>From:</th><th>Vincenzo lozzo</th></tr><tr><td>Sent:</td><td>Saturday, January 30, 2016 1:28 PM</td></tr><tr><td>To:</td><td>Jeffrey E.</td></tr><tr><td>Subject:</td><td>Re:</td></tr></table>

Btw (1) is a consequence of something &=bsp;Minsky says in the video. Which is that essentially for all practical i=tent and purposes it is impossible to verify that correctness of code. =

Also if you have time, maybe it's worth for you t= watch this: https://twitter.com/enigmaconf/status/692825085317500928 <https://twitter.com/enigmaconf/status/69282508=317500928>

Keep in mind that since they cannot burn sources and m=thods this is a bit of "there's no truth in Pravda and no news in Izvestia "= but it's a good intro to how attackers work

Sent from my Iphon=

On Jan 30, 2016, at 13:16, Vincenzo loz=o wrot=:

It's hard to tell w/o prope= code/documentation (couldn't find much online). In general the four things=are:

1) the devil is in the details, meaning that even if in theory i='s all solid the implementation might have bugs. There's no definitive tech=ical solution for that though

2) anything that is "custom" (eg: they=have a custom wifi protocol) is a red flag because it means that it hasn't b=en properly vetted and might be broken/buggy

3) there aren't enough d=tails online to tell but it seems to me that to speed up the blockchain ver=fication they partially centralize the network by using their own "supernod=s" (essentially the wallets talk to the supernodes vs the actual blockchain=. The security of those servers seems key to me and they gloss over it onli=e

4) the mesh network implementation is completely up in the air (judging f=om what's public) and it could go horribly wrong. So that needs further ver=fication

- Also (5), in general the disadvantage of distributed /open t=ings is that it is a lot easier to steal money vs a closed network (like sw=ft).

Are you looking to invest into this thing? If so , I'd suggest a=few things:

A) because problem (1) above is not completely sol=able, they need to have a plan. Part of it is technical (do continuous code=auditing, pentesting, on board proper crypto people, etc), the other part i= legal/financial and pr. Specifically they should have some kind of insuran=e and they should have a pr disaster recovery plan. A big disadvantage of d=centralized system is that you don't have anybody to trust and you don't ha=e a closed network that can make stealing money hard, they need to address t=at

B) realistically nobody is going to attack them until they become=significant enough from a financial standpoint. This gives them time to wor= on A. That said they should avoid making enemies (the "disgruntled" hacker=type)

Hope this is useful, if you get more stuff from them I'm happy=to look into it more. Also if you do invest I can help them with (A) if nee=ed.

It's a very dumb platitude but "security is a process" is true.&=bsp;

Unrelated: checkout edge.org <http://edge.org> , I think=you'll like it. There's a short video w=th Minsky that is absolutely fantastic

Sent from my (phone

On Jan 30, 2016, a= 11:26, jeffrey E. <jeevacation=gmail.com <mailto:jeevacation@gmail.com» wrote:

(https://mycelium.com/phone/index.html). what are i=s weak points?

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