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Chase CEO Boosts Crypto
Jamie Dimon, CEO of JPMorgan Chase, was once an ardent skeptic of Bitcoin, saying he believed it was worthless. In his annual letter to shareholders, he has become more optimistic. https://www.jpmorganchase.com/content/dam/jpmc/jpmorgan-chase-and-co/investor-relations/documents/ceo-letter-to-shareholders-2021.pdf “Decentralized finance and blockchain are real, new technologies that can be deployed in both public and private fashion, permissioned or not. JPMorgan Chase is […]
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UK Engaging on Crypto
Close on the heels of Biden’s executive order to expand US involvement in the crypto ecosystem, the United Kingdom has made a similar announcement. https://www.gov.uk/government/news/government-sets-out-plan-to-make-uk-a-global-cryptoasset-technology-hub Stablecoins were at the forefront of the announcement, owing largely to a recent consultation call report from HM Treasury: https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/1066166/O-S_Stablecoins_consultation_response.pdf
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New EU Wallet Regulations
The EU just passed wallet regulations that expand Know Your Customer requirements. https://old.reddit.com/r/CryptoCurrency/comments/tt0w8q/bad_news_for_selfhosted_wallets_in_the_eu_not/ The new regulations require your financial institution, like Coinbase, to know the owner of any unhosted wallet that you transact with using your Coinbase wallet. Following are a couple quotes reflecting concerns by crypto fans with my counterpoints. Different from the initial […]
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Crypto Regulation Outlook
President Biden signed an executive order on 2022-03-09 starting a broad investigation into the relationship between government and cryptocurrency: Fact Sheet: https://www.whitehouse.gov/briefing-room/statements-releases/2022/03/09/fact-sheet-president-biden-to-sign-executive-order-on-ensuring-responsible-innovation-in-digital-assets/ Full Order: https://www.whitehouse.gov/briefing-room/presidential-actions/2022/03/09/executive-order-on-ensuring-responsible-development-of-digital-assets/ This marks the beginning of a broad array of research projects which will culminate in reports and recommendations for legislation and regulations. The order includes statements of policy objectives that […]
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Crypto Dashboard
A crypto dashboard with 7 day sparklines and 24 hour price change for the major currencies. It also features a sentiment score, which purports to show investor sentiment. https://alternative.me/crypto/ I compared this with a few other dashboards and I like this one for its simplicity. The price, 7d sparkline, and 24h percent give me a […]
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Nano Pump Attempt?
Nano is an alt coin that got popular briefly in Spring 2021. It is a low fee, high transaction volume, fixed supply, currency with no smart contracts. Today there are two posts on /r/cryptocurrency about it, one openly advocating, one pretending to be objective while advocating. Both use the phrase “too good to be true,” […]
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Buterin on Defending Web3
Vitalik Buterin was interviewed for Time Magazine. These two paragraphs capture an important concern of mine: Buterin hopes Ethereum will become the launchpad for all sorts of sociopolitical experimentation: fairer voting systems, urban planning, universal basic income, public-works projects. Above all, he wants the platform to be a counterweight to authoritarian governments and to upend […]
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NFTs and Law
NFTs meet traditional law; example case with a $500k Pepe the Frog NFT. NFT seller disclosed the existence of 99 other identical NFTs, but promised no more would be sold. Buyer pays $500k. Seller sells 46 of the remaining NFTs. Buyer brings a lawsuit for $500k claiming that the sale of the additional NFTs damaged […]
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Web3: A New Hope
Web1 came with the promise of peer-to-peer, the notion that every node would be treated equally. Web2 replaced that with centralization and walled gardens. Web3 is bringing back the Web1 ideal with decentralization. When I was building Web1, we assumed that TCP/IP was a technological guarantee of equality. The pendulum swings and it will swing […]