- Bitcoin reaches a stupendous all-time high!! Completely coincidentally, 50 million Tethers were created in the past week (from thin air?) to be lent for buying bitcoins on margin. (And there should be more shortly.) Here’s a graph of Tether creation versus Bitcoin price (via “Bitfinexed”):
- Alex Tapscott’s “crypto VC” fund has more trouble from its, ah, not quite factually correct claims as to who its advisers are: backer CIBC pulled out, and now Tapscott’s company is pulling its IPO and returning previous investments.
Completely coincidentally, Don Tapscott tweets how “Any country wishing to remain a leading innovator shouldn’t use such heavy-handed approaches to regulation.”
(I need to write up the Tapscotts’ book, Blockchain Revolution, and Don Tapscott’s previous, Wikinomics. I’m not looking forward to either.)
- Joi Ito is disconcerted to discover that ICOs are “attracting the wrong people” — i.e., that when you explicitly design a system to avoid regulation, it ends up with an unfortunate lack of regulation.
- Social network Ello finally works out a business plan! Mining Monero in users’ browsers. Apparently their Cloudflare account was hacked.
- Well done to Jytdog on Wikipedia for helping clean up the spammy crypto articles, and shame on Merkle News for its targeted attack. (By JP Buntinx, who has past form encouraging crypto spam on Wikipedia.)
- A Twitter thread from Emin Gün Sirer on why “roll your own consensus algorithm” is the same sort of folly as “roll your own cryptography.” “Takeaway: you should assume that whitepapers are deeply, subtly flawed. You will almost always be right.”
Your subscriptions keep this site going. Sign up today!