self care, sleep, and good content
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Your daily snapshot from our OnChainFX markets dashboard.
Missing out? This week our subscribers got a look into Uniswap and how it compares to other DEXs as well as some thoughts on crypto efforts from Facebook and Telegram (plus the most bullish chart on Bitcoin that TBI has ever seen).
For $5 / week, you can have less FOMO, and more Unqualified Opinions. We’re rolling out new features and doubling subscription fees in two weeks, so get in while the gettin’s good.
But we HAVE at least made it through the physical winter here in NYC, and that’s something worth celebrating.
We have a LOT of new product coming out this crypto Spring:
Formally rolling out a daily Unqualified Opinions live show.
Opening up our analyst community once again amidst some new site features and tools we’ve been cranking away on.
Adding more data and functionality to our search features.
And as always, delivering the best daily research digest we can for you, dear friends. Sign up, and tell your friends, so that we can keep hiring more analysts and engineers.
Otherwise, it’s Friday!!
That means we’re keeping things light with some weekend reads.
📚 Messari’s weekend reads:
Reid Hoffman on the future of the Bitcoin ecosystem - Blockstream
Markets are eating the world - Taylor Pearson
THE TRAUMA FLOOR: The secret lives of Facebook moderators in America - Casey Newton
Assessing a cryptoasset’s scalability - Steven Miller
Crypto governance: the startup vs. nation-state approach - Jack Purdy
Vision Hill crypto hedge fund returns: fourth quarter 2018 - Vision Hill Advisors
Bitcoin price and its marginal cost of production: support for a fundamental value - Adam S. Hayes, CFA
Startup boards - Mark Suster
Have a good weekend, y’all.
- The Messari Team
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Messari Compression Algorithm
Content and thoughts from around the web as summarized by the Messari team.
👍 [Analysis] itBit is trying to lure traders with rebates, and it’s already helping pump up its ether volumes - Frank Chaparro
New York-based crypto exchange itBit has staked some ten percent of the Ethereum ($ETH) trading market by adopting an alternative trading model: maker-taker. For low liquidity exchanges like itBit, the maker-taker model increases the exchange's liquidity by incentivizes traders to add liquidity through rebates. Conversely, traders who take liquidity are charged a fee. The maker-taker model is fairly common for U.S. equity trading, but new to crypto and will soon be under review by the Securities and Exchange Commission. As new exchanges enter the market, price undercutting is spurring innovation. (share or read more)
🏛️ [Analysis] Ungoverned of anti-governance? How Bitcoin threatens the future of Western institutions - Andrea O'Sullivan
Bitcoin ($BTC) is an alternative store of value that undercuts Western institutions. These institutions once held the same prerogative, but as the global market became increasingly complex, it became associated more with fraud than wealth protection. Whether currency debasement or outright seizure, Western institutions have lost the mandate through abuse. Bitcoin, to be extreme, has a messianic quality: it both attacks the status quo while fulfilling Western notions of individual sovereignty. As institutions realize Bitcoin's potential, expect them to denounce it with one face and buy it with another. (share or read more)
Quick Bits (Don't read that, I read it for you)
Choke Points (Exchange News)
😄 In a string of recent tweets, Cryptopia has announced the re-opening of the exchange in read-only mode next Monday. The exchange also announced the return of founders Adam Clark and Rob Dawson to "set a clear strategic direction moving forwards." Another recent tweet said initial wallet analysis shows 9.4% of total Cryptopia holdings were stolen. (share or read more)
💱 South African crypto exchange VALR is set to open its doors today, capping a $1.5 million funding round led by Bittrex. The exchange will host 50 coins and hopes to become an industry leader in Africa. VALR is backed by a partnership with Bittrex which will provide liquidity and competitive prices going forward. Exchange executives are hoping to add fiat on-ramps by this summer. (share or read more)
Startup Signals (ICOs, Cryptos, and Startups)
💣 According to five individuals familiar with the project, Facebook is in talks with crypto exchanges and plans to launch its fiat-backed coin in the first half of 2019. The coin, which will primarily be used for Facebook-owned WhatsApp, will help integrate multiple Facebook messaging platforms as well as create a digital payment ecosystem for the tech giant. (share or read more)
🎉 Ethereum's ($ETH) Constantinople and St. Petersburg hardfork occurred successfully, including the most notable upgrade of reducing the new supply issue of Ether per block which dropped from three to two. The two main Ethereum clients, Geth and Parity, stayed in sync with the correct block number, capping the first hardfork for the ecosystem in about two years. (share or read more)
The Powers That Be (Legal/Reg/Policy)
👮 Randall Crater, founder of virtual currency scheme My Big Coin, was arrested and charged by federal prosecutors on seven counts of wire fraud and unlawful monetary transactions. Crater and his associates claimed My Big Coin was backed by gold and could be traded on major exchanges until it was sued last year by the CFTC. (share or read more)
Did I miss something?
Send me the link, your twitter handle and your best imitation compression algorithm write up. If I like it, I’ll include your bit next issue (with attribution).
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