Discover and read the best of Twitter Threads about #crypto

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#Crypto v.#RBI

Case is listed in Court no
4 as item no. 1 today.

Court about to be resumed in few minutes.

After the Court starts, few minutes will go in dealing with "urgent mentioning" matters.

Stay tuned..
The Court resumed. Urgent Mentioning matters are being dealt with.
Crypto case hearing has started.
Read 51 tweets
The question for the #ethereum community is, how do we do #defi without creating another ICO boom and bust like #YOLO situation... IMO the main cause of current eth/btc price being out of whack with the immense technical progress in and around eth over the last two years.
#bitcoin is overpriced because there's been very little technological progress. But finance isn't just about technology. It's also about trust. #bitcoin is overpriced vs better tech including #ethereum BECAUSE nothing changes, same as the UK and US high street banks.
Finance isn't the best space to move fast and break things. Alright it isn't health care or space flights and #innovation is never risk free but its important for the community to call out things that don't make sense

finance.yahoo.com/amphtml/news/f…?
Read 31 tweets
spotted first by @stephendpalley, the order in Berk v. #Coinbase is big for #crypto & maybe for #clickwrap & #browsewrap agreements too. First, the court says that having a policy barring insider trading doesn’t prevent claims for insider trading occurring on platform /1
Tort duties existed outside of its contract w/users. Existence of a mandatory user agreement doesn't matter- negligence is actionable separate & apart from any contractual remedies & Coinbase had a duty of reasonable care to its traders “originating outside of the agreement.”/2
California law (perhaps uniquely?) recognizes a duty to protect against economic loss: elements: “[1] the extent to which the transaction was intended to affect the plaintiff, [2] the foreseeability of harm to him, [3] the degree of certainty that the plaintiff suffered injury/3
Read 12 tweets
Alright let's get this through.
My key takeaways from the latest @OwnMarket AMA, and why they make me more bullish than before.

18 tweets so stay focused. 😉

Let's go:

$CHX #STO #securitytokens #Blockchain #Crypto #Bitcoin #Exchanges #gaming #mobilegames #ETH #investing
Let's start with the big one. The first STO (project Crowd) is now confirmed to launch its raise in September, this will be accompanied with a huge marketing campaign.
Remember for every #STO, $CHX gets locked away depending on the total raise.
1 month to go 😎
OWN now has officially signed a cooperation with Raiffeisen Bank who will support them in the STO space and also with their upcoming Stock exchange.
This is an impressive bank with over 2 million customers which has received several "best bank" Awards. #banking #crypto $CHX
Read 18 tweets
1./ #auspol the vacuous & fanciful premise of the Government's Cash Ban Bill (aka Currency Bill) is that we need to ban cash in order to stamp out some supposedly problematic "Black Market" that is plaguing us and is careening out of control @danieltbar @phenrikand @BCAssetsFund
2./ In all the docs provided tho, Govt shows no evidence whatsoever of this supposed Black Market existing in any form that cannot be managed with the powers Govt already has, let alone any evidence that the Black Market is growing at all. For all we know it might be declining!
3./ The main statistical figure the Government presents as evidence of the urgency of this matter is an ABS 2012 point estimate of the "underground production market" of 1.5% of GDP
Read 32 tweets
1/ Other cryptoassets go up and down relative to #bitcoin— but if $BTC doesn’t go up in USD terms, nothing does (for the foreseeable future).
2/ So long as crypto remains relatively insular and #bitcoin continues to be the primary UoA & liquidity provider in the space, this connection is due to remain for a while.
3/ The length of that “while” will depend on how long it takes for valuation techniques to become guiding consensus, the integration of #crypto into broader global macro, and the economics of use at scale.
Read 4 tweets
Thread

As always, an exciting experience for me to've facilitated yet another training, & contributed to further enlightenment of @SECNigeria on how they should go about regulating #CTPs, #crypto-assets such as securities, commodities and derivatives on commodities in #Nigeria.
For the opportunity, many thanks to @BlockchainNG, a foremost and quite resourceful #blockchain education and awareness creation network of crypto-savvy experts in #Nigeria and West Africa.

I will do a quick brush up for everyone here on the gold-marinated aspects of the speech.
In dreaming up a regulatory framework for #cryptoassets in Nigeria, it is only meet that the @CBN steps into the waters ab initio to play its roles of public legal tender currency operations, pursuant to Section 2 of the CBN Act 2007 legal tender law.

#Bitcoin #LegalTender
Read 4 tweets
New metric from the @placeholdervc team to assess relative valuations of smart contract platforms:

Network Value to Token Value (#NVTVratio).
@placeholdervc 2/ The #NVTVratio divides the network value of a smart contract platform by the total value of all assets launched on that platform.

For example, #Ethereum currently trades at ~2x the value of all the assets on its platform, whereas #EOS trades at 234x.
@placeholdervc 3/ A hope here is the #NVTVratio can help us get around faked transaction volumes and other forms of manipulation that have thus far made the #NVTratio less useful for smart contract platforms.
Read 8 tweets
Some Points for Physical letter which we can send to @FinMinIndia Sir @NischalShetty but i don't think its gonna be a Main Points for Letter, it just my Opinion.

#IndiaWantsCrypto
1. First of all #bitcoin & other #Crypto has Monetary no value if it will not Trade against #Fiat its like Stock Market Shares So, They need to understand their Own power rather than thinking about #Crypto will kill #Fiat & #Banks.
#IndiaWantsCrypto
2. Declare #Crypto as a Global #Commodity with following all guidelines of #FATF & #Sebi. Collaborate with other Nations & Give Licensing to all Indian Exchanges for work and AML, KYC policies. @Facebook @ICE_Markets @Nasdaq @CMEGroup @ING_news @Samsung @Microsoft working on it .
Read 10 tweets
💎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
1/ One of the great privileges I have when putting #MassiveAdoption together is meeting #Bitcoin #blockchain #crypto enterpreneurs across the country building ways away from SF/NY.

So I'm going to do a state-by-state series highlighting them.

(investors, pay attention)
2/ This is just a couple of companies to get us started. I'd love all of you to add your own picks & to tag folks in this state who are building around Bitcoin or on Bitcoin, crypto and blockchains. Let's shine some light inside the U.S., not just on the coasts.

#MassiveAdoption
3/ We start with #NorthCarolina to honor one of the stars of #Libra #LibraInDC day, Representative Patrick McHenry.

Bitcoin & blockchain aren't the first thing that come to mind when you think of NC, but you'd miss out on a lot, so let's get started.
Read 11 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

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