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Nic Carter
Nic Carter

12.7K Followers

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1 day ago

Proof of Reserves for Policymakers

A refresher — Proof of Reserves (PoR) isn’t just a niche procedure debated by crypto bros and accountants any longer. It’s increasingly making its way into legislation and policy. The Texas legislature recently saw a bill introduced asking for segregated custody at exchanges alongside quarterly PoR attestations. Wyoming also mentions PoR in their…

Proof Of Reserve

17 min read

Proof of Reserves for Policymakers
Proof of Reserves for Policymakers
Proof Of Reserve

17 min read


Dec 29, 2022

The Status of Proof of Reserve as of Year End 2022

A bright spot in an otherwise bad year — It’s undeniable that momentum around cryptographic Proofs of Reserve is gathering. This is a genuine silver lining from the FTX debacle. We may well yet emerge from this crisis with a major step forward in exchange credibility. But there remains a huge amount of confusion around Proofs of Reserve, and…

17 min read

The Status of Proof of Reserve as of Year End 2022
The Status of Proof of Reserve as of Year End 2022

17 min read


Sep 15, 2022

Comments on the White House report on the climate implications of crypto mining

As part of President Biden’s executive order, the White House Office of Science and Technology Policy (OSTP) conducted a study into the climate impacts of crypto mining. You can find it here. I have annotated the study in full. …

Bitcoin

37 min read

Comments on the White House report on the climate implications of crypto mining
Comments on the White House report on the climate implications of crypto mining
Bitcoin

37 min read


Jul 27, 2022

Redeem-and-retain NFTs are the future of luxury goods

Why utility is the hottest trend in NFTs — You get a push notification. Your favorite designer is releasing a new limited-edition pair of sneakers. No need to worry about waiting in line, clicking furiously to catch the drop on a buggy website, or dealing with scalpers. You cryptographically, provably own two items from this designer already, so your…

Nft

19 min read

Redeem-and-retain NFTs are the future of luxury goods
Redeem-and-retain NFTs are the future of luxury goods
Nft

19 min read


Jun 29, 2022

Setting the record straight

Or: a eulogy for bitcoin maximalism — So yesterday I was the subject of controversy on Bitcoin Twitter over my firm Castle Island’s investment in Dynamic, a wallet-based sign on company. This was quite surprising to me. I figured that people knew what it was that I did for a living. There is nothing on the face…

Bitcoin Maximalism

15 min read

Setting the record straight
Setting the record straight
Bitcoin Maximalism

15 min read


Apr 15, 2021

On Bitcoin, the Gray Lady Embraces Climate Lysenkoism

How the NYT wields junk science in their attacks on Bitcoin — I want to thank the formerly eminent New York Times. I read their latest article on Bitcoin at 5:30 am this morning and I was immediately jolted into a state of alertness — no coffee needed. Their latest missive on Bitcoin’s climate footprint is so poorly-researched that once I read…

Bitcoin

21 min read

On Bitcoin, the Gray Lady Embraces Climate Lysenkoism
On Bitcoin, the Gray Lady Embraces Climate Lysenkoism
Bitcoin

21 min read


Mar 29, 2021

Noahbjectivity on Bitcoin Mining

A response to Noah Smith — The Bloomberg columnist Noah Smith has a lot of thoughts on Bitcoin. Some of them are really solid and engage with the reality of the protocol itself, which is rare for a member of the mainstream media circuit. He also discloses that he owns Bitcoin, which is impressive for an…

Bitcoin

19 min read

Noahbjectivity on Bitcoin Mining
Noahbjectivity on Bitcoin Mining
Bitcoin

19 min read


Mar 21, 2021

The Blocksize War Review

An excellent account of a revealing epoch in Bitcoin’s history — Sometimes a text comes along that you feel a powerful obligation to read. Jonny Bier’s The Blocksize War ($22 for the paperback on Amazon) is one such book. Bier is the rarely-seen face of BitMEX Research, arguably the most insightful research desk in the industry. BitMEX Research consistently produces original…

Bitcoin

7 min read

The Blocksize War Review
The Blocksize War Review
Bitcoin

7 min read


Mar 14, 2021

Why NFTs are hard to explain

A disambiguation — I keep seeing the pro-NFT crowd complain about Bitcoiners “not getting it.” Bitcoiners are to NFTs as nocoiners are to Bitcoin, the saying goes. The argument is an endless circle: “How can you not see the value of digital scarcity? You’re a bitcoiner!” This is invariably met with the retort…

Nft

8 min read

Why NFTs are hard to explain
Why NFTs are hard to explain
Nft

8 min read


Feb 17, 2021

On Writing

A few years ago, I realized that I was writing for myself rather than others. As a kid, I had a bit of a reputation as a writer, having written short fiction stories from a young age. These were mostly rip-offs of books I was reading at the time. From…

Writing

6 min read

On Writing
On Writing
Writing

6 min read

Nic Carter

Nic Carter

12.7K Followers

Partner, Castle Island Ventures. Cofounder, Coinmetrics.io

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