Some Mini-Bits for you going into the weekend before Monday’s epic conclusion to this 30 day Daily Bit reintroduction.
1) Newsletter feedback
: I know we had small font on mobile, broken links, and the occasional hard-to-read image in these early issues. What other constructive feedback do you have for us? Let us know in this two minute, multiple choice survey
that even lazy people can fill out, so we can improve the Daily Bit for our relaunch later this spring.
2) James D’Angelo
: I loved the analogy James D’Angelo made between Satoshi:ASICs and the Founding Fathers:machine guns. "ASICs and machine guns have a lot of similarities, and each of them has been responsible for destroying a beautiful dream [of decentralization].”
James was an early bitcoin education genius, who’s been spending more time thinking about political philosophy and governance in recent years. Exciting to see those interests come back to convergence with crypto. Full thread here
3) My TCR Rough Pitch:
I was up in Boston yesterday for an event hosted by Pillar VC as part of Boston Blockchain Week. Rough cut of me explaining both why TCR’s are important
and why a registry of tokens could be an early killer app. Lightbulb moment: lists may be the oldest information resource we are trying to decentralize using cryptoeconomics. Lists are even older than money. Feedback?
4) Unlock Announcement:
Julien (formerly Medium) announced his plans for Unlock
, a new paywall unlocking service that offers a new way for creators to monetize their content without the friction of a paywall. This is a tough model to crack, but if I were to bet on someone to figure things out, it would be Julien. We need to solve this problem soon, or journalism is doomed to become a hobby
Have a great weekend!
Deutsche Bank posted its Q1 profits and...
Binance surpassed it. Binance, which only started trading in July 2017, brought in a profit of nearly $200 million in Q1 of 2018, while the global investment bank earned just $146 million. Binance recently relocated to Malta to capitalize on the country's more crypto-friendly environment, and also launched a blockchain incubator arm, Binance Labs. There's real money in crypto, and traditional financial institutions are going to play catch-up. Cryptoslate
CFTC Commissioner Quintez’s latest speech on crypto
. Brian Quintiez gave a speech at the Eurofi conference yesterday, remarking on cryptocurrencies and the tokenization movement. Among his more notable comments: if Disney World tokenized admission tickets, that wouldn't make them currencies or securities. Tickets are tickets. Quintez also reminded us that the CFTC has broad authority over both derivatives and spot transactions on commodity cryptocurrencies. So even if platforms don't have to register with the CFTC or set customer protection policies, the CFTC can still come after them for fraud and price manipulation. CFTC
Crypto exchanges fight legal battles to stay open
. Buda.com, the Chilean cryptocurrency trading platform, sued ten financial institutions
in Chile for closing its account with no explanation. Chile’s Free Market Court ruled that Bank Itau and Banco del Estado must reopen Buda.com's accounts until the lawsuit concludes. Other crypto exchanges around the world are bringing their cases to court as well. The Reserve Bank of India recently implemented a ban on its banks from engaging with cryptocurrency services. Cryptoexchanges in India are bringing the case
to the High Court of Delhi next month.
Quick Bits (Don’t read that, I read it for you)
+ An update to the latest Binance/ Sequoia legal battle in Hong Kong: the court has determined that the injunction against Binance was improperly obtained and constitutes an abuse of process by Sequoia.
+ Curious case: 16,000 Bitcoin (BTC) and 16,000 Bitcoin Cash (BCH) have been moved out of cold wallets under the control of Mt. Gox’s bankruptcy trustee, Nobuaki Kobayashi, to an unknown wallet address.
+ BTCxChange, Romania’s oldest cryptocurrency exchange, will be shutting down next week.
+ CBOE, the US derivatives exchange that provides bitcoin futures contracts, saw its highest-ever trading volume with a total of 19,000 bitcoin future contacts.
Revolut, the U.K.-based alternative banking app that also services crypto exchange, raised $250 million
in a Series C investment round. Revolut plans to add XRP and BCH to its existing lineup.
+ Barclays sets up
an internal CDM working group and plans to release the first iteration of the blockchain-compatible version of CDM early this summer.
+ IBM is collaborating
with jewelry industry leaders to create a cross-industry supply chain tracking platform built on Hyperledger Fabric.
+ Chinese tech giant Alibaba is piloting
its blockchain-based Food Trust Framework to track shipments to China.
The Powers That Be
+ Singapore's Intellectual Property Office plans to expedite
the patent-granting process for fintech-related applications, including those applications that are focused on blockchain-based payments. The process has been shorted from two years to as quickly as six months.
+ France declares
a new classification for bitcoin as ”movable property”, which means that the tax rate on cryptocurrency gains dropped from 45% to 19%. Exceptions: earnings from mining.
+ Bitcoin’s page was the ninth most popular page
on Wikipedia last year, trailing directly after "United States".
Did I miss something big?
Send me the link, your twitter handle and your best imitation compression algorithm write up. If I really whiffed, I’ll include your bit tomorrow (with attribution).
Hit me up when I'm in your city!
+ SF (5/1-5/3 - private event)
+ NYC (5/10-5/17 - Fluidity, Ethereal, Consensus, Token Summit)
+ Asia (Japan, Korea, Hong Kong early through mid-June)
My company, Messari, is hiring:
+ Front-end developer
, Full-stack engineer
, Data engineers
, Blockchain engineers (TCR!)
+ Volunteer analysts and summer interns
+ Content curation lead (compression algo tinkerer)
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