Circulating Supply is the new hotness. Will we see industry standardization on this topic? No time soon. I recently asked Ryan Selkis of Messari about this on a Periscope live stream and he said they aren’t waiting on standards committees. They are bringing measurements to market that make sense to them and hopefully, they’ll be adopted by other data companies. Market Cap: A Flawed Ranking System for Valuing Crypto
I still don’t know how all this works, but the thought of storing my keys on a phone that I can lose or could be stolen and hacked sounds terrifying. I’d rather have a HW wallet and home and use LN on an app in the wild. But this is cool. I guess I wouldn’t use it as primary storage but could use it as the wallet in the wild. Samsung Confirms Galaxy S10 Will Include Private Crypto Key Storage
Another day another dollar. CT has cooled their shit regarding the LN trust chain. The Livera pod with @jack and @starkness was alright. I think it felt like a love fest. I wish they had covered more in depth about the challenges and opportunities, but whatever. On the other hand, my side hustle is still coming together. Hammering out bplan.
“Somehow bitcoin has lived in a swamp and survived. There are thousands of other tokens that you could argue are better, but yet bitcoin continues to survive, thrive, and attract attention,”… When Bakkt announced a partnership with Starbucks in 2018, everyone lost their shit. That was a very premature announcement, but Bakkt is getting closer to a reality. This is a company to watch in 2019. The herd is coming. Bakkt Is Our ‘Moonshot Bet’ Says ICE CEO, Plans to Launch the Platform Later This Year
Here’s what will happen. Anyone who wants to increase the supply are welcome to do so by hard forking. Feel free. It will be Bcash all over again. 21M is the differentiator. Ultimate scarcity and decentralization. That’s it. You fuck with that and you’re making a shitcoin. Proposal to Increase Bitcoin’s 21 Million Supply Sparks Debate
I know you’ve read the Bezos letter to Pecker about the dick pic. What crazy times we live in lol. Filed taxes yesterday and looking forward to that return. Not much planned for the weeekend but that doesn’t mean I won’t have some fun! Smoking yard bird and playing with the kiddos. I need to paint this damn house but it’s the worst.
And just like that, the Bitcoin ETF is back on the table. VanEck pulled the submission because of the Government shutdown, so them resubmitting the ETF bid shows something more. I mean the gov. is only temporarily open for business. No budget has been passed. If the governement shuts down again, what happens to the ETF proposal? Will VanEck pull it again? Cboe Resubmits the VanEck/SolidX Bitcoin ETF Proposal for SEC Approval
I find this really hard to believe… 10% of BTC UTXO are related to criminal activity… “These findings match comments made by the U.S. Drug Enforcement Agency in mid-2018, which stated that criminal activity was behind only around 10 percent of bitcoin transactions, having shrunk from 90 percent in 2013 after the dark web marketplace Silk Road shutdown.” Darknet transactions up 70% — with BTC still the currency of choice
An IN DEPTH look at on and of chain governance. I’ve read up on the mafia like nature of some of the chains mentioned in this. I am not sure how these chains are even a thing. It’s as if users are trading in one really shitty system for another more tech advanced version of shit. Read this. Commit parts to memory. And move on. Politics, Power & Protocols
I wish there was a way to participate in the APJ markets, especially on platforms like Twitter. Come on and autotranslate the tweets already. There’s obviously big things happening in the far East, JPY volume is an indicator you can’t overlook. If Pierre and friends want LN to take over the world, they better have some steak dinners in Tokyo. Japanese Yen Overtakes the US Dollar in Bitcoin Trading
More legislation for bitcoin is a good thing. You’ve got to start somewhere when it comes to building a new financial system, besides product, legal framework is a pretty good thing to spend cycles on. I assume States that put bitcoin friendly legislation in place will be in a much better place fiscally over the next decade. Washington State Recognizes the Validity of Blockchain Technology in New Bill
I have watched a couple keynotes and tried reading the $GRIN whitepaper, but I am still scratching my head on the reasoning behind the infinite inflation rate. You’ve got to differentiate yourself from Bitcoin somehow, but inflation? C’mon man. What Is Grin?
This is pretty an interesting development. We all wish Brave was $BTC native, but it’s not so we have to deal with this. Brave will convert your $BTC into and out of $BAT, but $BTC is not the native money on the browser. Okay now that’s out of the way. This is a trial content deal for users to get access to Cheddar’s premium content. After the trial period, I am assuming users would pay Cheddar in $BAT for access to their content, like using $BAT for the paywall. I think the difference here is that you will only pay for what you use, unlike a traditional subscription. I am just sitting here clicking on Firefox hoping some development comes this way. Brave Browser and Cheddar Sign Partnership To Provide Premium Content
Payjoin, our chance to make $BTC anonymous. Even if a small percentage of holders use Payjoin on transactions, it works in such a way that chain analysis will not be able to prove which transactions are and are not using Payjoin therefore they would have to assume all transactions are using Payjoin. Read this newsletter for more details Bitcoin Optech Newsletter #31
What a year. As we near the end of 2018 I am trying to make a list of the things I’m thankful for, some of the things I’d like to improve, and a list of goals as I roll into the new year. I had some huge life events happen and love my friends and family.
Regarding news, it’s been a wild year. I don’t have a comprehensive list for the year, but that’s something I plan on working on for next year. How can I curate the best, and present it precisely. A project I’d really like to lift up is a crypto price chart that is overlaid with the best news. I think this could be accomplished through a couple ifttt recipes and Messari’s api. The bad news on that is I don’t know how to code a website let alone use an api.
So what’s realistic for next year?
The answer to this is very simple. Anything I want.
Something big professionally is cooking. I can’t say right now because you aren’t under NDA but it’s a big one.
Get a mentor/be a mentor – This is something I’ve struggled with over the past couple years. I don’t have a mentor, big bro, or bud I go to for advice. I need/want this in my life. I’ve never had a mentor so I don’t know what expectations to have about being someones mentor. I think finding a mentor will be easier than becoming one.
Let’s get physical – I’ve got to get active. I have sat in the office chair for far too and grown far too weak. I’d like to participate in a sprint duathalon this year. Start running. Ride bicycle often. Sign up for race. Participate in race.
Get involved in philanthropy – I don’t know what when where how but do it
Move towards debt free – self explanatory. Get rid of these student loans.
21 BTC – this is a personal goal. I’d like to have 1/1,000,000 of supply.
Grow spiritually – need to continue seeking light. Don’t stop.
And a bunch of other personal shit you don’t care about.
I think the list is doable and I really want to accomplish all these goals. I am ABSOLUTELY revising my vision board. Every time I work on it, things come true. Remember…
I was reading through Mary Meeker’s massive Internet Trends 2018 deck and was floored by the numbers on China.
Side Notes, need to learn Mandarin.
The specific slides on internet leadership by market value was the real indicator. Based of 2018 rankings, the top 20 internet companies are either US or China based with (11) US and (9) China based companies. The total market valuation for these companies was $5.7T. That’s bonkers, right?
This got me thinking about how bog this global market really is and how disconnected I feel personally from this global market. With nearly 50% of the top 20 internet companies based in China, what does this mean for the future of the internet? What does this mean for Crypto? Are the Chinese developing Crypto? Is there a parallel universe of Crypto Twitter with all the memes and snarkiness? Are there Chinese Bitcoin Maximalist? Are there Chinese Shitcoin Hodlers? Is there a Chinese Ripple Mafia?
I don’t have answers, or the means to get them.
All I know is that I need to learn how to crack into this market, make more friends, and have more bags.
This means average investors will soon be able to have exposure to crypto assets at one of the largest custodians in the world. My gut tells me this is not going to be a one off action, many more custodians will follow suit with hardcore FOMO.
As of writing this, we still don’t have an ETF but Fidelity bringing Crypto under its massive and trusted umbrella is a great sign for the eventual approval of the magical ETF.
Just HODL if at all possible, there’s too much opportunity in the next 12 months.