Ripple & Mt. Gox - Unqualified Opinions

ripple's executive departures, a new interview with brock pierce, and the week ahead

Your daily snapshot from our OnChainFX markets dashboard.

The week ahead

February 11: The BitTorrent Foundation will initiate its first airdrop of BitTorrent (BTT) tokens to Tron (TRX) holders today. A total of 10.89 billion BTT will go out during this first round equating to 1.1% of total supply. Airdrops will continue through 2025 with the amount increasing by 0.1% each year.

February 15-17: ETHDenver is taking place in Denver (as if that wasn’t obvious) later this week. Yours truly will be there mixing it up and doing some live streams with attendees. Make sure you stop by and say hello and if you have any suggestions on who I should chat with let me know on twitter.


In case you missed it I went live with Brock Pierce earlier to discuss Mt. Gox and EOS. Key takeaways:

1) I don’t think much is going to come of Brock’s Gox Rising initiative, and we should all simply be rooting for the creditors and against Peter Vessenes’ Coinlab, which has initiated a massive lawsuit that could gum up the works and further delay creditors’ ability to recoup their losses.

2) We spoke about Block.One, and the transparency of the organization that raised some $4 billion in its record-setting crowdsale. Brock thinks (and I agree) that Block.One (and the industry in general) can do a better job with transparency, but cautioned against rushing to judgments against any teams that are simply following legal advice as they attempt to avoid SEC overreach.

Make sure you follow me @twobitidiot on Periscope so you don’t miss out on the daily interviews at ETHDenver.


As @geoffgolberg pointed out on twitter it looks like Ripple’s marketing strategist Cory Johnson (aka @CoryTV) is no longer listed on Ripple’s leadership page. He’s also updated his twitter bio, and the company appears to have “eliminated the position.”

For reference, Cory is nowhere to be found on the current page but was listed on a pervious version we found from Sept. 2018. His role previously had been centered on crafting the narrative around the disassociation of Ripple, the company, from XRP.

Have a good week y’all and if you’re a subscriber we will be back tomorrow.


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Best of the Rest - What We Missed Last Week

Every weekend, we dig through the past week’s posts from crypto’s other great sources of content to see what we missed in our own weekend reads.

Here’s us curating the curators:

DeFi: Constructing the foundation of a new microeconomy - Tanner Hoban
(h/t NLW)

Using MakerDAO as an example Tanner Hoban provides an in-depth look at Decentralized Finance (DeFi) and why it matters. Mortgages, for example, are an area that Hoban provides compelling reason to offer a decentralized loan market. By removing layers like central banks from the process efficiencies can be gained. Of course, there are trade offs, which leads Hoban to propose a combination of decentralized applications and centralized services on top to help provide accountability and support.

What is a dusting attack? -Binance Academy
(h/t Token Daily)

Beware of free Bitcoin. Binance Academy warns Bitcoin users of a unique method scammers are using to break individual privacy on the blockchain. A “dusting attack” involves sending a small amount of satoshis (called dust) to many users. The idea is that most users won’t notice such a small amount being added to their balance, and will ultimately spend the dust. By tracking the wallets that received dust attackers can start to paint a picture of the user and potentially gather enough information to learn the identity of the person or company behind a blockchain address.

What comes after open source?- Denis Nazarov
(h/t Token Economy)

State, not code, has become the most important feature of software according to Denis Nazarov. In the early days of software programs were simple tools, a word processor was like a typewriter and only needed to perform tasks locally. Nazarov explores how a change from running local code to cloud based systems has made state, or the ability for software to remember user interactions, increasingly important. While much of this data is controlled by a few internet providers the need for public state in crypto systems promises to unlock a new wave of open and collaborative innovation.

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).

Podcast Recap

🎧 ICYMI Ryan (TBI) and Arjun Balaji sat down for over an hour to discuss what they see happening in the industry during 2019. If you are a subscriber, make sure you have caught up on our two part series and check out Arjun’s theses for 2019.

You can view the full video here and as always you can listen and subscribe to all of our podcasts— on Apple Podcasts here, Spotify here, and Google play here.

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