Discover and read the best of Twitter Threads about #cryptoassets

Most recents (21)

1/ Blockchains collapse the cost of digital asset creation, custody & transfer, enabling *programmable value* of all kinds.
2/ Money, while an important application of blockchains, is a subset of the broader programmable value universe.
3/ A money like #bitcoin is likely to be the greatest *single instance* of value capture within the programmable value universe, which is why many of the top #cryptoassets today are battling for this position.
Read 8 tweets
If you were in #crypto before it was called “crypto,” chances are you got your start as a #Bitcoin nut.
People diverged from there:

- Some stuck to only #Bitcoin (maximalists)
- Some ventured a bit and came to love a few other #cryptoassets (mostmalists)
- Some ventured to explore the full world of programmable value, often with #Ethereum as the gateway (polycoiners)
What’s fascinating to me is #mostmalists and #polycoiners largely all still love Bitcoin as an economic and technological system, even though many have had falling-outs maximalists.
Read 5 tweets
1/ TWEETSTORM to answer ?s many asked abt #Wyoming's new #blockchain bills, including blockchain-friendly #bank bill. Bottom line: in addition to enacting 5 blockchain-friendly bills in 2018, 6 more bills have an elevated chance of becoming law bc they're now "committee bills"...
2/ ...& more bills are coming. Told ya' #Wyoming isn't done yet! Major opposition from the banking industry to the #bank bill & we weren't sure of outcome, but it v powerful committee endorsed it 13-1 & the only vote against it came from a banker. Next step=legislature in Jan...
3/ ...with momentum behind it (tho it's not law yet!). WY Banking Commissioner approached us after the 13-1 vote came in, to start rule-making work now. We're forming a group thru Digital Asset Trade Assoc (@asset_trade)--email info@digitalasset.org if you'd like to join that...
Read 15 tweets
1/ A few reflections on @andrewrsorkin's interview of Jay Clayton last night. First off, it left me feeling more hopeful for #crypto's regulatory situation.
2/ Clayton and the SEC are not out to get #bitcoin and #ether, this should be obvious by now.

Reading between the lines of his words, it seems Clayton considers $BTC a currency, and $ETH a commodity.
3/ In differentiating a currency from a commodity, he stressed that commodities generally have an “industrial use” beyond serving as a means of exchange.

Will be interesting to see how granular regulators get in classifying the great diversity of #cryptoassets before us.
Read 11 tweets
I'm at a crypto event with reps from the Bank of England, HM Treasury, FCA, Ripple, and Prime Factor Capital. You think crypto is going away? These people are discussing how to implement it now. #crypto #bitcoin @ripple @bankofengland @TheFCA @hmtreasury
One study shows 43% of investors (mostly asset managers) are invested in crypto. 33% of transactions were in the OTC market. #crypto #investors
Almost all panelists refer to "crypto assets" not cryptocurrencies #cryptoassets #crypto
Read 6 tweets
1/ *Centralized* apps building atop decentralized protocols may be the winning combination, each furthering the adoption of the other.
2/ As many have pointed out, “decentralize all the things” is a mistake. Decentralize the things that benefit from decentralization.
3/ Starting with centralized apps (think @coinbase @circlepay etc), if you’ve been paying attention, they are utilizing an increasing amount of decentralized protocols & open-source crypto infrastructure, to the benefit of their end users.
Read 15 tweets
1/ Great morning for a tweetstorm updating the latest on the interaction of #WallSt & #bitcoin, drinking coffee from my new BitMug (thanks AC Fenton!) @brucefenton
2/ The most significant news--maybe most important news to date on the #WallSt front--was @tzeroblockchain's token generation event on 10/12 (a fully-compliant #STO on the public #Ethereum mainnet of true preferred stock, issued by an SEC registrant). Investor letter captures...
3/ ...perfectly the true benefit of owning #cryptoassets (which defenders of the legacy system love to ignore): investors have the option to opt out of the legacy system, which is unstable & unfair. Owners can either hold tokens at a broker/dealer OR IN A PERSONAL WALLET at...
Read 13 tweets
1/ When studying non-fungible #cryptoassets, I'm seeing two types discussed: "functionals" and "investment instruments."
2/ "Functionals" are non-fungibles that are meant to be used, a means to access services like ticketing, voting, payment, and more. Best existing examples?
3/ "Investment instrument" non-fungibles are held for their store of value characteristics, be they solely digital things, or derivations of meatspace assets (real estate, art, cars, etc).
Read 5 tweets
Provocative exploration of #crypto valuations that goes a layer deeper than all prior works, starting with the question of: “what do we value?” google.com/url?q=https://…
2/ #Cryptoassets will allow us “to develop multiple indices of valuation that reflect different social priorities the way that profit price reflects capitalism’s priorities.”
3/ The group of professors & thinkers that put together the piece will be holding a #cryptoeconomics workshop at @NYUStern on 9/26, event info here: medium.com/econaut/crypto…
Read 3 tweets
1/ Get ready for a predictable #crypto pattern: in the coming months, we will see an increasing number of #Bitcoin maximalists tormenting “altcoin investors” for straying from the mother ship.
2/ The maximalist drum will get louder as we go deeper into the bear market, with #bitcoin falling less than most other coins, and its dominance index growing. coinmarketcap.com/charts/#domina…
3/ #Bitcoin is the benchmark after all, the market beta of crypto, with most everything oscillating at a higher amplitude than $BTC.
Read 18 tweets
Majority of the time an index fund of *all* #cryptoassets produces better risk-adjusted returns than solely holding #bitcoin. medium.com/@xoelop/what-y… analysis via @xoelipedes
Somewhat obvious when you consider the effects of diversification & the moonshots this #crypto index includes, but good to see the concepts backed by data.
Given some of the concerns raised re: using all 1600+ #cryptoassets on @CoinMarketCap, would be good to see the same analysis for top 10/25/100, rebalanced annually + tax consideration.
Read 3 tweets
"World After Capital: Limits of Capitalism" worldaftercaptial.com via @albertwenger
original link didn't work, this one does: continuations.com/post/175471097…
Capitalism is a social construct, and as with all social constructs, it too will evolve or be replaced over time.
Read 8 tweets
More people will own #cryptoassets than stocks.
2/ #cryptopeople > #stockpeople is already the case in some emerging countries.
3/ @jmonegro was recently in Brazil, where stats were put up about users of #crypto products outnumbering users of stock exchanges/brokerages/etc
Read 8 tweets
#Cryptoassets will soon be released in Korean! New cover👇 chaeksesang.com/book/14671/
I have no idea what it all says, so if anyone cares to enlighten @JackTatar and myself we’d be mighty grateful 🙃
Chinese, German and Portuguese translations still forthcoming, we’ll see if they have different covers too! FWIW, I’m not the designer of these, just the amused author.
Read 3 tweets
I often look @onchainfx using the "% down from ATH" filter, as the "least down" and "most down" both give valuable information. onchainfx.com
For the most part, in a bear market "least down" reveals tight-knit resilient communities, which can set them up to rebound quickly when sentiment turns.
"Most down" can either show you what was bad to begin with, or #cryptoassets that are being thrown out with the bathwater. For the latter, mean-reversion can be your friend.
Read 3 tweets
1/ #Hodling is a lot harder than it looks, as it requires the choice of *no action* in an action-oriented culture.
2/ One of my favorite classes in college was called, "A Life of Contemplation vs Action," and it revealed humans repeatedly choose "action" over "no action," even when statistically "action" has clearly been proven to be the wrong choice.
3/ Take soccer goalies, for example. Statistically, they have better odds of blocking a penalty shot by staying in the middle of the goal (no action) and defending from there. Yet, the majority decide to jump right or left (action), decreasing their odds of success.
Read 11 tweets
1/ There is a socio-financial transition taking place in the world.
2/ The organisation of our world into nation-states no longer ministers to the needs of humanity.
3/ Humanity yearns to be unified; yet our structures continue to divide us.
Read 21 tweets
1/ While I appreciate the work of @CoinMarketCap & the many other token data aggregators, it’s important to recognize none of them represent the entire #cryptoasset reality.
2/ When people new to the space first realize @CoinMarketCap has ~1,500 #cryptoassets listed, many will exclaim, “Wow, that’s a lot!” But in reality, that’s just the tip of the iceberg...
3/ consider, for example, that @wavesplatform has 12,297 #tokens that have been launched on its platform and trade on its internal DEX.
Read 13 tweets
1/ Put together some informal thoughts on smart contract platforms for friends that I figured I should share. Clearly, this market is #Ethereum’s to lose.
2/ The reward, however, for any smart contract platform that can achieve #Ethereum levels of success is significant. Makes the expected value of investments potentially positive, even if low odds.
3/ #Ethereum has a “feature gravity advantage” over the upstarts, and a proven willingness to move fast and avoid ossification. So long as scale doesn’t make things a quagmire, such flexible governance will suit $ETH well going forward.
Read 9 tweets
1/ Economists and traditional valuation experts claim that for most anything to be *valued* it must have cash flows.
2/ These experts then go on to say currencies can't be valued, they can only be *priced.*
3/ So then the "fundamental value" of stocks and other cash producing assets is based on currencies that have no fundamental value? Logic seems fragile at best, like building a castle with air.
Read 10 tweets
1/ Threading together my presentation from @coindesk's #ConsensusInvest this week.
2/ The presentation was inspired by the 2016 white paper put out by @ARKInvest & @coinbase, which involved @WhiteAdamL, @wintonARK, @CathieDWood & myself. Link to whitepaper here: research.ark-invest.com/bitcoin-asset-…
3/ When the white paper came out in July 2016, it got fanfare from the #cryptocommunity, but many from #WallSt dismissed it b/c the aggregate network value of #cryptoassets was $10.5B at the time. Asset classes store trillions, #crypto would never get there...
Read 25 tweets

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