The DLT Trade-off & Peeling Back Bitcoin’s Value Layers

Not a reference to Onion Routing.

One of the most redeeming characteristics of applied distributed ledger technology is its ability to provide utility at a fraction of the cost compared to a similar “rent-seeking” middleman. If the middleman is charging $200 for the service, there is a good chance DLT can do it for $50, a fraction of the price. DLT is a killer proposition for consumers, but it doesn’t necessarily translate as a compelling investment opportunity for those aiming to capitalize crypto networks.

This disparity in the cost to provide homogenous utility illustrates a critical difference…


A mysterious digital token. Where does its value come from?

You can’t touch it, you can’t see it, then how can this magic internet money have any value?

Those of us that have been involved in the crypto asset space for an extended period of time know the bitcoin as Gold 2.0 argument all too well.

It’s divisible…

It’s permissionless…

It’s much more easily transported…

It’s a non-sovereign store of wealth that can’t be seized at the border and used like this

For most skeptics, this still isn’t enough. They don’t care you can store it in your head. It doesn’t matter it’s divisible up to 8 decimal places. …


There Is An Increasing Need To Clearly Define Inputs for Crypto Asset Models

The rise of a new asset class births the critical task of discovering new, applicable methods of valuation. Naturally, we want to lean on the tried-and-true techniques of stock valuations or currency valuations, a closer look reveals the broader crypto asset class has too many unique characteristics to fit any old mold. When viewing (the ever growing) published research, we seek to define the inputs for these new valuation models to gauge future price potential, we find these inputs can be as nascent and opaque as the technology we are trying to value.

We are presented with a paradox. While…


Though it may be an often overused and inexact comparison, the development of the internet is one of the only close parallels to the development of crypto networks. It has that crypto now is like being in the mid-90’s for the web. The foundation for revolutionary new technology is here, but the mystery remains of what direction it will go. As such, it may be useful to explore how the internet ecosystem evolved and how people viewed the internet in the mid-90’s.

While a form of the internet was around for many years before the 90’s, it was only prevalent…


A blog post from our CEO, Eric Allred, earlier this year…

I recently listened to a masterful TED2018 talk done by Kate Raworth. She highlighted as humans we’ve come to expect, demand, and depend upon constant, never-ending growth.

Financially, politically, and socially we are addicted to it. The financial system is designed to pursue the highest rate of return for money; politicians want to raise tax revenues, but not raise taxes.

We have economies that need to grow even though the people aren’t thriving.

Since the 1930s Gross Domestic Product (GDP), the total value of goods produced and services provided…


What is platform risk?

Platform risk refers to the dangers involved with a business or application relying too heavily on a platform for many of their core operations and revenue streams. This language is often used in the tech world for software platforms that allow third-party developers to build on top of them. Some of the major platforms currently are Facebook, Apple, and Google, for example. These companies are all places where third-party developers can launch apps for the use of end users. However, these developers/businesses are subject to platform risk because these platforms have oligopolistic-like control over their platform…

Blockchain Technology Management

Thesis-driven, Multi-Strategy, Digital Asset Firm.

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