Good afternoon crypto world. For those of you still waiting in line to get your Consensus tickets, maybe this post will help you kill some time.
Bitcoin prices are still volatile: I recently gave a blockchain 101 presentation to a private market research company on the east coast. I decided to include a slide that described the use-cases of bitcoin at a high level: storing value, transacting, and investing. Sure, many can (and do) use bitcoin for some mix of the three. But it's difficult to debate in favor of these cases against educated opponents, even if you're Joseph Lubin
Most traders are still getting most of their action (liquidity, volume, trading pairs) on custodial exchanges like Binance, Bittrex and Poloniex. According to CoinMarketCap, traders on Binance have exchanged $250,000,000 worth of bitcoinin the last 24 hours.
Custodial exchanges were a necessary part of the ecosystem in the early days. Buying bitcoin in person sucks. Buying bitcoin on forums sucks. And while holding your bitcoin on a custodial exchange can be a risky maneuver, it's a whole lot simpler to use than the alternatives available.
Holy shit, crypto is still green today! That's right mom, crypto is not "dead."
And if that's the case, you should join us on Friday, April 27th at 6:00pm to listen to the biggest YouTuber in crypto sit down with the most successful PR firms in crypto. We will discuss how crypto and traditional media impacts the blockchain industry. Big thanks to Square1 and Localytics for the sponsorship, and to all of the folks at Pillar for making #BostonBlockchainWeek happen. I took the remaining tickets for our event and made them free for subscribers of this newsletter -- use code THEBRIEF to get them free. There's about 20 left.
This week I had the chance to chat with Lark Davis, the founder of Crypto Lark. CryptoLark is one of the most successful Crypto YouTube channels and is based in New Zealand.
The interview with Lark spans a number of topics, including:
- Why and how Lark got into the crypto space
- What he believes the impact of media has had on the crypto space
- Projects that he is excited about, and suggests our readers keep an eye on
- Lark's plans to build the Khan Academy of Blockchain
Over the past few days, several people have emailed me inquiring about the upcoming blockchain project “Chia”. As Techcrunch points out, Chia is eschewing the traditional initial coin offering in order to raise money via the JOBS Act Regulation A+. This would allow Chia to raise up to $50M from non-accredited investors. The Chia statement on this IPO: “This may be the first fully compliant public offering for a crypto company”.
Due to the current computational limitations of a full node on CPU, Artificial Intelligence models cannot be built inside of smart contracts. Cortex Labs is solving this issue by storing AI models on the blockchain -- providing smart contracts with more complex programs and resources. Essentially, DApps will be able to have smart contracts call into decentralized AI models, opening up possibilities for blockchain companies to create deeper tech in the decentralized world.
Last weeks' Underscore VC Blockchain Core Summit epitomized what I consider to be a perfect way to bring together smart people, feed them, water them, and keep them from getting bored.
And for the price of free, it's a whole lot more than I can say for some other glitzy conferences.
Obviously, every conference -- no matter the industry -- has two core attendees: the speakers and the audience. The speakers are there to lecture and the rest of us are there to listen and take good notes. As the interest in crypto and blockchain has erupted, so have the number of events being held around the world. Many of these events will price all but the most OG hodlers out of attending, with many selling tickets for as much as $3,000 a pop. Because of this massive expenditure of money and time, friends often ask me about the cost-benefit of attending the popular conferences.
The one thing most reading this already know: markets have been green the past couple of days, and Twitter/Reddit sentiment seems to be on the rise.
Media outlets have been quick to attribute this to the generally positive statements coming out of the G20 Summit held Monday, March 19th and Tuesday, March 20th of this week. The G20, held this year in Argentina, represents central bank governors from twenty of the world’s most advanced or emerging economies. Notably, major crypto hubs like South Korea, Japan, USA, Russia, and China have major voices at the Summit.
There's a ton of news coming out of the Summit this morning, and I read a bunch of the articles so you don’t have to.
In 2018, Gartner predicts that the public cloud computing market will be worth more than $287 billion dollars worldwide. Dfinity is currently building Cloud 3.0, a global blockchain computer with unlimited capacity, improved performance and algorithmic governance.Read More
Crypto has really exploded in the past couple years. Make no mistake: daily trading volume has grown from ~$60M in January 2015 to over ~$15B in March 2018. But even though the majority of crypto assets are built on top of decentralized architecture, the overwhelming majority of trades still take place on centralized entities. These centralized exchanges take full custody of assets to facilitate the process of exchanging assets between traders.Read More