Your daily snapshot from our OnChainFX markets dashboard.
How was that? Did you enjoy the free content that is usually reserved for our subscribers?
We covered the real takes on Libra, a straight up look at how regulation is creating wild investment products, our team’s take after analyzing all the filings of the first SEC approved token offering, and a total recap of Q2 in light of Trump’s recent tweets.
If you subscribe now you will get daily updates like those plus a subscription to Messari Pro, access to our private Telegram group, twice monthly conference calls, and more.
Over the last few weeks our community analysts have been hard at work building out the “Investopedia” of crypto. More than 70 pages have been completed with many with additional boards to take your learning to the next level.
The contributions are only picking up, so expect to seem more in the future. We have big things in store for our analysts, and are excited for what’s to come! If you’re interested in joining email firstname.lastname@example.org with some examples of work you’ve written.
For this week we wanted to switch things up with our Registry updates. Check out our weekly updates board to see all of the new things from members of the Messari Registry.
Now on to our weekend reads…
📚 Messari’s weekend reads:
Cryptonetworks and the theory of the firm - Qiao Wang
Pathways for DeFi on Bitcoin - Mohamed Fouda
No limit: AI poker bot is first to beat professionals at multiplayer game - Douglas Heaven
What I learned co-founding Dribbble - SimpleBits
ELI5 Explanation of the Ethereum 2.0 Testnet - Mohamed Fouda
What’s next for surveillance capitalism and social domains? - Amber Cazzell
Have a good weekend y’all.
- The Messari Team
P.S. Share. Subscribe. Tweet at Messari for feedback, comments, or questions.
Messari Compression Algorithm
Content and thoughts from around the web as summarized by the Messari team.
🗣 [Analysis] The Bitcoin common tongue - Robert Breedlove (June 2019)
In this tweetstorm by Robert Breedlove, the crypto universe is subdivided between Bitcoin ($BTC) and altcoins. Bitcoin is quickly becoming the internet of money with the large promise of replacing the current financial order while altcoins struggle to find use cases. History shows individuals economize by placing value in 'hard' stores of value. Bitcoin's stock-to-flow ratio, a measurement of hardness, is second behind gold's and will surpass it by May 2020. (share or read more)
🤓 [Analysis] The differences between Bitcoin and Libra should matter to policymakers - Peter Van Valkenburgh (July 2019)
A one-size-fits-all policy will not work for Bitcoin ($BTC) and Libra. Although they share cryptographic features, both projects are different in both purpose and technology. Bitcoin is digital money; a bearer instrument based on trustlessness. Libra is a new financial service and global currency more akin to a registered instrument like airline miles. If the projects are different, regulation must also be. (share or read more)
Quick Bits (Don't read that, I read it for you)
Choke Points (Exchange News)
💸 Japanese-exchange Bitpoint was hacked yesterday losing 3.5 billion yen or $32 million in crypto including XRP ($XRP). Of the 3.5 billion yen, 2.5 billion yen belonged to customers. The exchange is still identifying the cause of the hack. (share or read more)
🔥 Binance has conducted its eight quarterly burn of its 808,888 Binance Coin ($BNB) amounting to $23.8 million. Of the 189 million tokens remaining, 89 million are to be burnt with Binance CEO Changpeng Zhao saying the exchange is "building the Binance ecosystem without getting any BNB from the initial allocation." (share or read more)
Startup Signals (ICOs, Cryptos, and Startups)
🎲 Veil is sun setting its prediction market on July 24th. In a Medium post, the Veil team pointed toward on-boarding issues and lack of a focused vision for the product failing. Some markets will remain hosted by the team such as Predictions.Global while others will be hosted until Augur ($REP) v2 is launched. (share or read more)
😓 Bitmain's Antpool erroneously invalidated a Bitcoin ($BTC) block it mined by adding the coinbase award with the transaction fee, asking for a 13.26 BTC reward instead of the current reward of 12.5 BTC. The error was attributed to a software snafu costing the mining pool the $146,200 in BTC reward plus energy spent. (share or read more)
The Powers That Be (Legal/Reg/Policy)
🏧 A money-laundering scheme recently broken up by Europol and Spain's Civil Guard has exposed gaps in Europe's AML laws officials say. An international team was using two Bitcoin ($BTC) ATMs in Madrid to fake remittance fees and trading with funds sent to drug traffickers in Columbia. Spain's Supreme Court recently declared Bitcoin not money but 'patrimonial immaterial assets.' (share or read more)
🏛 The Virtual Commodity Association has created six regulatory committees to oversee industry set standards and best practices. The VCA's committees first priorities include the Bank Secrecy Act and Anti-Money Laundering, custody and security, enforcement, insurance, market integrity, and tax. The VCA was established in 2018 by bitFlyer, Bitstamp, Bittrex, and Gemini as a self-regulatory organization (SRO) for the crypto industry. (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).
Should your colleagues read daily? We now offer discounts for corporate access. Email us, and we’ll onboard your whole team.