, 29 tweets, 18 min read Read on Twitter
Long Reads Sunday #31.

You know, at first this week seemed boring. Then tokenized donuts took over a community, Messari went to war, Venezuela’s oppo leader was recognized by the US, and everyone on CT started yelling about "crypto law."

☕☕☕ It's LRS time! 👇
2/ It’s Sunday morning, so let’s talk donuts🍩Long story short, it was an accidental experiment in tokenized online reputation, that ended up showing off DEXes, deploying a Harberger Tax and highlighting some challenges with holdings-based governance
3/ @brian_armstrong even chimed in, so I think we can safely assume $DONUT is coming to @Coinbase.

In all seriousness though, I think Brian connecting the dots between Donuts and a larger shift in attention economies is right on.
4/ And hey, speaking of governance, @VladZamfir got all of crypto flapping with his post advocating for a “a new crypto legal system.” I think Kyle’s distillation of the piece “why we should be able to change the thing” is the closest to a TL;DR I saw.
5/ @VitalikButerin joined the conversation, with (to me) his most important argument being that there is only so much to debate without defining examples of (to use @KyleSamani’s language) “what things should we be able to change”?
6/ The best counterpoint I read came from @lex_node, who reaffirmed the idea of social-trust-minimization-via-blockchain but also made the point that different blockchains can deploy different approaches and leave it to markets to decide what’s best medium.com/@gabriel.j.sha…
7/ I tend to think we’re going to see approaches to governance more actively compete for people’s devotion. Don’t like the politics of this chain? Well we’ve got a different politics over here. Then again, in this fun hot takes thread @wheatpond calls BS
8/ Speaking of @wheatpond, his partner at Primitive @doveywan wrote this super interesting thread about how changes in China’s tax system might impact crypto and other assets as capital flees.
9/ While China’s tax system might create incentives to put money into crypto, other states are experimenting with special economic zones to attract crypto business. @hasufl highlights an NYTimes story on Georgia (the country) working to enable mining.
10/ The UK was also in the news with regard to crypto policies. The country’s FCA regulators wrote a piece of guidance rejecting the SEC’s “decentralization test.”

@msantoriESQ with the recap

@PatBerarducci adds thoughts here
11/ @katherineykwu meanwhile took the FCA conversation in a different direction, pointing out that countries can and are wading into crypto by providing guidance that is easier to navigate than the US
12/ Part of what makes crypto so hard to regulate is how many different things are meant by the moniker. @_jillruth kicked up a great conversation about how many different types of assets “crypto” really includes
13/ @_jillruth has also been surfacing a ton of high signal content around Venezuela, where this week @jguaido was named interim president (and quickly recognized by the US.


What Crypto Can Do by @criptodiana medium.com/@aguilardi/the…
14/ I also highly recommend a re-watch of @Codiox livestream about Venezuela, hyperinflation, and how people are using Bitcoin.

Eduardo also recorded an Off The Chain with @APompliano that will be out next week. 🔥
15/ Another key theme from this week was surveillance and the power of social networks. @matthew_d_green noticed a report that WhatsApp, Insta and Messenger would be moving to an integrated infrastructure
16/ @SarahJamieLewis put the implications of the news more bluntly:

“they will build the largest surveillance system ever conceived and will sell it under the banner of consumer encryption.”
17/ WhatsApp also made news on a report that it would limit the number of times a user could forward a message to 5. @antoniogm provides a historical perspective on why this is unlikely to have the intended consequence
18/ If the conversation about the impact of social networks on society is growing, what’s less clear is alternatives. In this thread, I look at the state of crypto-powered alternative social networks.

Do any of them have a chance?
19/ As you can see, this week got decidedly unboring. A few more good ones before we wrap.

@danheld riffed on the market narratives are marketing idea and asked what happens when narratives can no longer co-exist.
20/ With so much attention on @grinmw in the last few weeks, it’s a nice shift to explore some of the privacy technology poised to come to Bitcoin itself. Check out @AaronvanW’s piece on Taproot for @bitcoinmagazine
21/ There was some great content over in the world of #DeFi, as well.

First, check out this piece by @mikejcasey about how proof of stake could lead to crypto banking and why we might want to think twice about that coindesk.com/proof-of-stake…
22/ @jmonegro and @cburniske published their investment thesis around Maker this week.

Read the thesis here placeholder.vc/blog/2019/1/23…

or check out this thread on Maker adoption ($200m in loans in Y1!)
23/ @ByteSizeCapital has been crushing the thread game lately, and this post mortem on the 2017-2018 ICO cycle is no exception
24/ Speaking of ICOs - one of @ConsenSysAndrew predictions in this 2019 prediction piece I had missed before is that “The end of token fever will lead to better tokens.” Read the rest for what’s a generally bullish take on the year ahead media.consensys.net/welcome-to-the…
25/ The Bank of International Settlements wrote an essay critiquing Bitcoin proof of work, arguing that it can’t secure itself without the block rewards. @lawmaster does a great job with the summary overview here theblockcrypto.com/2019/01/22/ban…
@lawmaster 26/ If questions surrounding Bitcoin security in the context of a post-block reward world is of interest, @TheBlock__’s @teo_leibowitz gives it a substantial treatment here theblockcrypto.com/2019/01/24/bit…
27/ And of course, I have to mention the huge research report from @MessariCrypto that suggests XRP’s market cap could be overstated by more than $6B, and which is bringing up a larger conversation about circulating supply
28/ Finally, in honor of Holocaust Remembrance Day, let's end with this powerful story of data, conviction and heroism.
29/ Happy Long Reads! To get these via email, subscribe here: getrevue.co/profile/nlw
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