Round of Applause 👏 by Blockstreet — Volume 6, August 24, 2018
Curating the most clap-worthy blockchain-related Medium stories of the week
Why You Can’t Shortcut Trust, Jimmy Song
Jimmy goes over the characteristics of money, how they establish trust and why that’s important. A great piece for thinking about Bitcoin and cryptocurrencies on a macro level.
“Many moneys are digital (US Dollar, World of Warcraft gold, Linden Dollars), but no digital money until Bitcoin was actually decentralized. Likewise, many moneys are decentralized (gold, silver, salt), but until Bitcoin, none was actually digital.”
The Store of Value Thesis, Qiao Wang
Why would people want to hold an asset for a long time versus a short time? In this article, Qiao dives into what qualities a cryptoasset must have for it to become a store of value.
“If you think about it, a SoV [store of value] really is just a combination of three things. 1) You can store it securely. 2) It cannot be reproduced easily. 3) You can trade it or use it cheaply.”
The Market Cycle Wears No Clothes, Cole Garner
Cole shares the lessons he’s learned after immersing himself in the cryptocurrency market for the last 12 months. From the bull and bear markets to what we should prepare for in the next market cycle, it’s an interesting personal take on market trends. It also comes along with a number of cool pattern analysis charts.
“History doesn’t repeat itself, but it does echo and rhyme — like faces on a stack of Russian dolls, each instance of a season inevitably shares its DNA forward cross-cycle with its younger, larger sisters.
Understanding each season’s external market dynamics and internal prevailing psychological terrain is critical to survival and success in this market.”
Is the Price of Bitcoin Based on Anything at All?, Jeff Wise (Member Story)
In this member-feature article, Jeff Wise goes in-depth on the complex nature of Tether and its intricate relation to allegedly propping up the cryptocurrency market.
“Perhaps the most troubling answer for crypto investors is that Tether minted currency out of thin air, used it to buy other cryptocurrency, sold that cryptocurrency, and used the proceeds to create its reserves. That is, assuming the reserves actually exist at all.”
Episode #9: Alex Shin (#Hashed), Around The Block Podcast (BlockstreetHQ Team)
Alex Shin is co-founder of Hashed, a cryptocurrency fund accelerating the global enablement of decentralized projects through impact investing and community building. He’s made it his mission to promote blockchain adoption in Asia and beyond. In this interview, Alex talks about what it was like transitioning from the venture startup world to the blockchain world, the fund’s recent investment in XCHNG (by Kochava), and why he thinks the first widely accepted blockchain application will thrive in South Korea.
“We have a country [Korea] that already understands digital assets and also crypto-assets. We’re generally bullish that if there’s a crypto-ecosystem that pops up I think people will adopt it very easily.”
Round of Applause is written weekly by David Fan of BlockstreetHQ.
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