The Week To Be In Crypto [01/21/2019]
By Jonathan Tompkins on ALTCOIN MAGAZINE
Market Overview
We are re-approaching the lows on BTC and ETH from a couple weeks ago. It will be very interesting to see where things go from here but it also wont. It doesn’t really matter, crypto is here to stay. I really don’t like dealing in absolutes but it is really hard to imagine this genie being put back in the bottle barring some massive world-wide disaster (war, financial, natural) that just redirects attention and causes everyone to hunker down and not worry about progress for a while. If that happens BTC-under-3000 will be the least of our worries. Use cases that feel “close” and where I think we will some real progress in 2019. Accompanying articles are just a sample of recent developments, long story short crypto at this point….
- Security Tokens (Tokenized equity, commodities, migration of traditional markets to crypto-enabled)
- DAOs (Creation and live testing of coordination primitives)
- Casual buying
What I’m Buying
A follow up on the mimblewimble (fraternal) twins.
GRIN was going for the most bitcoin-like inception we have seen since bitcoin. Mining from 0, trying to be ASIC resistant to allow a wide variety of miners. Largely anonymous dev team. I think what was learned is that the creation of bitcoin cannot be duplicated, there are too many eyes on the space now. GRIN attracted million of dollars of VC investment into mining operations (making it not particularly appealing for small miners to participate) and already has some providers working on ASICs for it.
BEAM went a different route with a known dev team. It also made some news for the wrong reasons today
Bitcoin has never “stopped” (as far as I know, could be wrong) but it had a lot of problems in the beginning. Because it was just a novel invention some cypherpunks were playing with out of the gate there was time to address those issues without much pressure or oversight. Now any issues for a popular coin are front (crypto) page news.
Now that the chains have been running for a bit it is going to be interesting to see what ecosystems build around these projects. BEAM has funding to encourage development and is mimicking BTC with a deflationary emission schedule. Feels like they will be going directly at bitcoin use cases (Store of Value). GRIN has a static emission schedule (same amount of GRIN created each year forever, no cap in # of GRIN). It would seem like this constant inflation may encourage spending, not holding. This could lead to new use cases that BTC is not addressing or maybe not serving well at the moment. I am not buying either for at least a couple weeks/months and things settle down. Too many unknowns.
Recommended Media
Read
Listen
Going to try and include at least one non-crypto pod a week
From the Slack
A collection of content from The Bitcoin Podcast slack group the past week
Follow Me
twitter: https://twitter.com/Tompkins_Jon
linkedin: https://www.linkedin.com/in/thejonathantompkins
telegram: https://t.me/joinchat/FqrpRUo8CKHV8gGKRuNNNQ(we have a few people now, join in!)
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