Discover and read the best of Twitter Threads about #Crypto

Most recents (24)

💎GEM alert!💎

NEXT $MATIC = $RSR

$RSR @reserveprotocol unique project on a #crypto land.

✅You probably heard about it but READ THIS TWEET TO THE END! YOU WON'T REGRET!
1/ First of all, INVESTORS!
Peter Thiel - LEGEND
Sam Altman - SV LEGEND
@coinbase Venture,
Few members of the founding team at Paypal.
.
.
and others super, legit and strong partners. Check here:

reserve.org/investors
2/ As far i know Altman have never invested in any cryptoproject. He is Silicon Valley LEGEND! Huge connection!
Read 19 tweets
1/ Hypothesis: currently available #cryptoassets can’t help but be sub-optimally distributed given only half of the global population is online. en.wikipedia.org/wiki/Global_In…
2/ Put another way, the fact that ~80% of the “developed world” is online, while only ~40% of the “developing world” is, presents a huge problem for #crypto if our intent is to lessen inequality.
3/ Not to be dour, but it's been a daunting recent reflection of mine, and points to how early we potentially are in the crypto movement.
Read 7 tweets
“We’re sitting in the @NYSE Board Room - that’s a first for #bitcoin.” -@dan_pantera at @Bakkt’s first digital asset summit.
But #bitcoin wasn’t the only asset of conversation @Bakkt’s event today.

When asked about other #cryptoassets, Commissioner Stump referenced the @CFTC’s recent request for information on #Ethereum, saying, “Bitcoin’s not the end of the road.”
All in all, the @Bakkt event signals great things for #bitcoin and #crypto at large, even if I did miss some of the funk of OG days.
Read 3 tweets
Members of the @FSCDems House Financial Services Committee question @Facebook #crypto chief David Marcus about their proposed #Libra cryptocurrency. We are clipping some videos of the hearing in the thread below 👇👇👇
Read 18 tweets
1/ The Senate Banking Comm staff reached out last week regarding @Facebook @Libra pursuant to my @ForbesCrypto article. During a conf call they indicated interest in receiving formal testimony from me. Here it is + summary follows 👇: forbes.com/sites/caitlinl… @DoWithCare
2/ Big takeaway--politicians that weaponize the US banking system (blocking access to disfavored industries/countries) are modern-day Herbert Hoovers bc these barriers block both unlawful & LAWFUL commerce, & these barriers caused the invention of #stablecoins in the first place.
3/ (OK, I didn't actually call them modern-day Herbert Hoovers the testimony, but I digress...) If Congress isn't happy about @facebook @Libra, it can immediately make #stablecoins irrelevant by letting #banks bank the #crypto industry (& I give v specific recommendations here:
Read 19 tweets
1/ Draft of a Congressional bill titled "Keep Big Tech Out of Finance" Act is significant.
Note out this announced is right on the heals of Trump tweeting his feelings about #Bitcoin and #Cryptocurrency in general and specifically called out #Facebook #Libra...
2/ FB jumping in the financial industry with their 2billion userbase to tap into *is* a wakeup call. They laughed at #Bitcoin because it was small, but with FB they see a threat.

I'm no fan of #ZuckBucks but I think the #Crypto industry needs to get on #TeamFB with this bill.
3/ This knee jerk reaction to #BigBanks not liking their domain being disrupted by #BigTech, so they're getting Congress involved. It's clearly an overreach in govt trying to coddle #BigBanks, a relationship that needs to seperated more through disruptive tech, not less.
Read 8 tweets
0/ THREAD: Yesterday, we @ideocolab announced our new Startup Studio to accelerate the world's best blockchain startups, in partnership with over 20 leading organizations and protocols.

In this thread, I’ll share why and how we decided to do this.

1/ First I want to thank @coindesk @DanielGKuhn @pete_rizzo_ and @TheBlock__ @Yogita_Khatri5 @mdudas for covering yesterday, as well as the support from our partners and the general blockchain community.

2/ For many people in the #blockchain and #crypto community, this was the first time they've heard of @ideo, @ideocolab, or the fact that we've been working deeply in the blockchain/crypto space since early 2015 with many of the industry's leading crypto projects and people.
Read 55 tweets
If they properly recognize the global promise of #crypto, don’t expect @Facebook to back down easily to the US Gov on Libra contestations.
Depending on how big Libra gets I wonder if / how the US Gov would bring legal action against FB?

The two questions would be:

1) what can they do that would be most crippling to FB
2) what are they likely to do?
I’m imagining #crypto’s iteration of the 2000 “United States v. Microsoft Corp” Case, which would be insane as it could concern the dollar!
Read 3 tweets
@realDonaldTrump 1/ Mr President—#Wyoming, the state that gave you the highest margin of victory in 2016 (even bigger than Reagan), welcomes law-abiding #crypto companies & created a new type of bank charter to allow them to comply w/ the law. You are just wrong on this—ur staff is misleading you
@realDonaldTrump 2/ Your staff isn’t giving you good advice (I don’t see anyone on your staff who has experience in this new asset class). The US payment system hasn’t really innovated in 50 yrs—it’s unstable & inefficient. I’ve been surprised that your administration has coddled it instead of...
@realDonaldTrump 3/ ...opening it up to healthy competition. The #crypto genie can’t be put back in the bottle & if the US fights this we will simply be bypassed by other countries that are welcoming it. Banks tried to shut down #crypto by shunning the industry & look what happened—it didn’t die.
Read 5 tweets
@DamianGawryluk You’re very warm...keep going! There are profound implications for #crypto custodians from footnote 13 of the SEC’s new guidance...I’ll be back with more later 🤠🤠🤠... @propelforward @NYcryptolawyer @josh_blockchain @AndreaTinianow @AnnetteNazareth @stephendpalley
@DamianGawryluk @propelforward @NYcryptolawyer @josh_blockchain @AndreaTinianow @AnnetteNazareth @stephendpalley 1/ OK here's what it means. The SEC's new guidance would have been a bummer for the #crypto custody industry were it not for #Wyoming's new #SPDI law, bc there's precisely one--only one--type of bank that satisfies the SEC's key rqmt w/o tripping over other regulatory landmines.
@DamianGawryluk @propelforward @NYcryptolawyer @josh_blockchain @AndreaTinianow @AnnetteNazareth @stephendpalley 2/ #Wyoming designed the #SPDI law to thread this v precise needle--to be a bank when it NEEDS to be (eg, to satisfy good control location) but not to be a bank when it doesn't want to be (eg, to avoid tripping bank holding co status). The impact? The #crypto custodians that...
Read 12 tweets
I also find this argument persuasive.

THREAD on #CBDC & #cash

Having a central bank digital currency alongside cash is effectively like the govt offering 2 different competing monies, b/c they have different characteristics, risk profiles, etc.
Cash is better for privacy, not subject to systemic digital failures, & accessible to all (even those who can't afford digital svcs).
CBDC may be cheaper for govt to offer, enables greater use of negative interest rates as a tool of monetary policy, makes money laundering/terrorist financing more difficult, reduces friction in txns, & enables financial inclusion.*

*Just stating args-don't necessarily agree.
Read 22 tweets
"It is arguably difficult to conceptualise ‘rulebreaking’ within the context of cryptocurrencies. Functionally, double spending is not possible, as nodes within
the network will simply refuse to recognise such transactions."

eprints.lse.ac.uk/88095/1/Elliot…
This implies that double spending is the only way to "break the rules" of a crypto system.
I don't think that's right - I think that there is opportunity to manipulate the system (by miners) in transaction ordering, taking bribes, delaying particular transactions, etc.
Read 10 tweets
#bitcoin could ossify today & still win the SoV use case based on its existing characteristics (scarcity, censorship resistance) & network effect / ubiquity.

Many “dev-centric” minds miss this b/c they only view #blockchain from a developer mindset & not a financial/social one.
“Do not try and do everything. Do one thing and do it well.” - Steve Jobs

#bitcoin is the 1st uninflatable, uncensorable, unconfiscatable asset the worlds ever known. It’s also the best tool to ever exist for each of those characteristics. It’s VERY GOOD as digital gold.
Hash rate at an ATH. Price is returning to ATH w/ a market capitalization of >$200B (6x+ its closest competitor ETH $31B).
Read 9 tweets
Organizers said no photos of the Hayes vs Roubini debate so I’ll use this stock photo of Nouriel. #ABS2019 @aba_summit
@CryptoHayes: I don’t even want to call you professsor.
Roubini: He’s just making money off of retail suckers.
Read 28 tweets
Young person looking for a job at a #crypto fund?

Here's my 5-step plan for getting an investing gig 👇🏽
1. Build a personal brand on Twitter.

Change your avatar to something notable (like an emoji clock 😉) and start open-sourcing your thoughts. Slowly get more followers by engaging in conversations with other well-followed people. Above all else, act like you belong.
2. Create a personal website.

Make it easy for hiring managers to understand your background. Build a one-stop-shop that has your education, work history, and notable work (e.g. blog posts). Post this in your Twitter bio.
Read 7 tweets
PART THREE

57/ In this last part, I will share my key takeaways from this exercise & examine them in the context of a risk/reward framework. If you have been following along this whole time, I encourage you to share your takeaways as well!
58/ First, we can often surprise ourselves with what we can accomplish if we set our minds to something. Prior to transitioning into #crypto full-time, I had virtually no technical understanding of technology, computer science, or distributed systems (I was a PE/VC guy).
59/ Everything I covered in this 3-part thread, I learned for free, thanks to the (quite special) open source ethos of the #crypto community. The tradeoff was time – a sacrifice I deemed worthwhile, because I had a strong desire to learn more engineering & share those learnings.
Read 14 tweets
1/ Introducing a three-part thread on the current state of distributed consensus & the engineering tradeoffs therein in PoW & PoS (as I understand them) for anybody (particularly non-technical folks) seeking to enhance their technical expertise within #crypto.

Here's PART ONE:
2/ What follows isn't for everyone. This was inspired by an observation of people seeking to broaden their knowledge of #crypto yet getting frustrated when things get too technical, resulting in plateaued learning curves & in some cases, lost interest.

3/ Let's begin. If you haven't already read @iam_preethi 's piece on distributed consensus, I highly recommend you give it a read. It offers terrific coverage of the basics of distributed systems + their history, & is a fantastic starting point for this:

medium.com/s/story/lets-t…
Read 22 tweets
1/Last week's №1news was not the >10kBTC breakout or #Facebook's #Libra announcement, but release of the #FATF(Financial Action Task Force) Guidance on Virtual Assets(VAs) and Virtual Asset Service Providers(VASPs, anyone professionally dealing with crypto, inc. natural persons)
2/Libra and FATF news represent the "old", centralised world's most powerful-yet attempts at fencing the global crypto phenomenon. One year US Presidency in FATF ending Jun30, effectively helped extend the recent FinCen crypto guidance (bit.ly/2LeQTus) globally
3/And market clearly isn't yet pricing in any of the potential outcomes entailed in this development.We suggest monitoring it in the context of state-by-state implementations, which will end up harmonised - i.e. similar. Here's what we wrote to our Research subscribers in March
Read 19 tweets
1/ #Facebook released their #Libra #cryptocurrency whitepaper today. This is a stable coin governed by a Foundation that is comprised of a handful of the world’s largest corporations
2/ The currency will run on the Libra #blockchain and coins will be backed by assets consisting of bank deposits and government securities that will be issued by the Libra Reserve whose members each invested a minimum of $10M to run a validator node
3/ This pseudo #decentralization is not being brought into the world to ‘empower billions of people’ or ‘help people everywhere live better lives’ as Facebook suggest
Read 6 tweets
1/ FIRST ANALYSIS of @facebook's #Libra: Facebook completely misunderstands money. 🤣😩 Facebook understands payment systems--but that's not the same as money. Two telling quotes: "Libra is backed by a reserve of real assets." "Many cryptocurrencies today (eg #Bitcoin & #Ether...
2/ ...have no underlying assets to back them." Money is a good that serves as an HONEST LEDGER--it doesn't need to have intrinsic value because it attains value by people trusting it to be an HONEST LEDGER. Money is just a bookkeeping system--not all bookkeeping systems are money
3/ ...yet @facebook throws gobbledygook at us by asserting #Libra has value because it's backed by "bank deposits & short-term govt securities." 🤣 Well, at least it appears Facebook doesn't have plans (yet) to engage in fractional-reserve banking with Libra Reserve's assets...
Read 16 tweets
1/ At the start of 2019 #bitcoin’s price action looked like it could mirror 2015, but has since switched to feel more like 2016.

As a foreshadowing, below is a graph showing the correlation between $BTC’s price and China's yuan ($CNY) in 2016.

Article: washingtonpost.com/news/wonk/wp/2…
2/ It was remarkable to watch $BTC & $CNY dance in 2016.

Sometimes a #bitcoin rally preceded a CNY devaluation, as shown in green ovals below (presumably Chinese insiders stockpiling BTC before PBOC's action)

Other times bitcoin would show sustained strength post yuan weakness
3/ Turning to what this can teach us about 2019, the first thing to recognize is #bitcoin's rally from ~$3K to now ~$9K has not been *majority* driven by crypto's fundamentals (not endogenous).
Read 15 tweets
The Chainlink / Facebook Connection
Thread including all things Facebook blockchain, GlobalCoin / Project Libra / stablecoin, and key employees (incl. dates & references) + Chainlink breadcrumbs.
#GlobalCoin #ProjectLibra #Libra #Blockchain #Crypto #Chainlink #4IR #Facebook $LINK
January 4, 2018
Mark Zuckerberg on "fixing" @Facebook and working towards decentralization facebook.com/zuck/posts/101…

#GlobalCoin #ProjectLibra #Libra #Blockchain #Crypto #Chainlink #4IR $FB $LINK #Facebook #Decentralization
May 8, 2018
After four years at the helm of @messenger , @davidmarcus will be leaving the team to lead a small group of @Facebook employees to explore what blockchain technologies can do for the social media giant. facebook.com/davidm/posts/1…

#Facebook #Blockchain #GlobalCoin
Read 25 tweets
1/ 6 PREDICTIONS about what @Facebook's #cryptocurrency means. Grab the popcorn bc I analyzed publicly disclosed info to make 6 predictions, of which 2 will be controversial (#2 and #6). @ForbesCrypto #Libra #bitcoin forbes.com/sites/caitlinl…
2/ First prediction: @Facebook's #stablecoin will be a positive force in developing countries. Second: @Facebook will pay #interest to users of its #cryptocurrency, which will eventually lead to populist calls to repeal subsidies at the heart of the US banking system.
3/ It's true that #stablecoin issuers generally pocket the float on the assets backing the coins, but I go out on a limb & predict there's no way @Facebook will be able to pocket these big profits w/o sharing them with users. To be clear I haven't seen @Facebook disclose this.
Read 11 tweets
🚨#India #Crypto #ban #regulation🚨THREAD:

Imp pts for every observer in India/abroad in short clips:

Part 1 - Analyzing Leaked docs

1. Pg cites fine or 1-10 yrs for SPECIFIC activities
2. No definitions! Draft clearly not ready for legislation (1/n)
Part 2 - Understand the policy process

1. Draft doesnt = ban, until it clears Finance Minister & Parliament vote.

2. Public consultation NOT mandatory. Ask for it.

3. WRITE (>tweet) to folks mentioned in the vid

#India #Crypto #ban #regulation (2/n)
Part 3: Understand the existing baseline in India

Esp intl folks @PeterMcCormack

- Instant payments/settlement already exist
- Free/mobile banking already exist
- Crypto must solve the right probs from a govts perspective

#India #Crypto #ban #regulation
Read 4 tweets

Related hashtags

Did Thread Reader help you today?

Support us! We are indie developers!


This site is made by just three indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3.00/month or $30.00/year) and get exclusive features!

Become Premium

Too expensive? Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal Become our Patreon

Thank you for your support!