News: Me in York this Saturday, Bitcoin unpopular, Kik not so keen on blockchains, SEC vs Titanium, Request and Wikipedia update

  • Kik raised $100m in its ICO. The founder now calls blockchain “unconvincing” for non-cryptocurrency uses. “Unless you’re trying to build one of the most-used cryptocurrencies in the world, it’s very low odds that blockchain is going to create value for you.” Apparently the genius of cryptocurrencies is their “scarcity,” because people can’t just go around, er, starting an ICO to start a private currency, like Kik did.
  • The SEC shut down Titanium Blockchain, and yet again the complaint is pretty much a fill-in-the-blanks template for how to prosecute ICOs going forward. It’s well worth a read. Did you know that if you do things on the public Ethereum blockchain … the SEC can see them too?
  • A blatant Ponzi scheme ICO: is a high-yield investment programme, literally promising 200% annual returns. Where do they get these remarkable sums of money? Vague and nonspecific “arbitrage”, which was literally what Pirateat40 claimed for his 2012 Bitcoin Ponzi (see chapter 4 of the book). They have an ICO for initial buy-in. I searched on the names and photos in the white paper and was actually surprised not to find the usual string of prior fraud convictions.
  • Request Network ICO and Wikimédia France update: “Since Request Network were so slow and reluctant to change their delusive communication into a fair and clean information, Wikimédia France broke the agreement with them. Thus, this partnership is over … no other cryptocurrency donations project is planned.” Also, “The French Chapter does not use any crypto money at all right now.” Request Network has also posted.











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