The Week In Crypto In Five Graphs (2/3/20)

Lou Kerner
Feb 3, 2020 · 4 min read

For those who love crypto & graphs that tell a compelling story

The march to mainstream adoption continues with progress being made all over the world.

1. Thin Applications

1/30/20-Joel Monegro, Placeholder

https://www.placeholder.vc/blog/2020/1/30/thin-applications

This is a follow up to the seminal “Fat Protocol” post Joel published August 8, 2016, which looked at where the value was going to flow in cryptonetworks. In this piece, Joel stated that the large web sites (e.g. Facebook, Google ) capture value by locking in the user via force through the centralization of data. Joel believes that cryptoservices architecture (above) combined with a non-custodial data model will enable crypto startups to compete more effectively against centralized incumbents. For instance, Joel believes that a crypto network can “lock” users in via new paradigms like staking, creating defensibility through user-ownership instead of user lock-in. The piece is a must read for anyone in crypto.

2. Ethereum miners generated $936 million in 2019; 75% less than in 2018

2/3/20- The Block, Larry Cermak

The Block

Ethereum miners have generated $936M in revenue in 2019 ($901M from subsidies and $35M from fees), down 75% from 2018. Importantly, Ethereum miners generated only 19% of the revenue of Bitcoin miners, down from 72% in 2018. Hence the falling hashrate from the 2018 peak. .

3. The Chainalysis 2020 Crypto Crime Report

1/28/20- Channlysis

The Chainalysis 2020 Crypto Crime Report

After declining in 2018, total darknet market sales grew 70% in 2019 to $790 million worth of cryptocurrency, 33% above the previous record amount reached in 2017. Notably, for the first time since 2015, darknet markets increased their share of overall incoming cryptocurrency transactions, doubling from 0.04% in 2018 to 0.08% in 2019. The report is chock full of other interesting data, including where darknet funds originate from:.

4. Ikigai Monthly Update — February

2/3/20 — Travis Kling

Ikigai Asset Management Monthly Market Updates

Ikigai Asset Management publishes a great monthly update written by Travis Kling. The monthly piece is always packed with all kinds of relevant macro data and predictions (e.g. Trump will likely win the Presidential election in 2020. SPX at ATH’s and unemployment at ATL’s. People generally feel better about life than they did a few years ago. Pretty straightforward situation”). The graph above highlights Travis’s view that “…Bitcoin is becoming a global macro asset with a commonly accepted set of investment characteristics”.

One of the reasons Travis is so bullish on Bitcoin is “The Great Wealth Transfer”, as an estimated $59 trillion of wealth is posed to transition from Boomers to Millennials by 2061. Travis highlighted the below table below which reveals that The Grayscale Bitcoin Trust is the fifth most popular equity holding in Millennial 401k’s.

5. ETH May Be Money, But Does It Need Marketing?

1/31/20, MyCrypto

It’s an interesting question spawned by the meme:

I’ll finish with this clip from CryptoMondays NYC where Messari CEO Ryan Selkis discusses his view that “Eth Is Money”

If you got .00001 BTC of value from this post please “Clap” below (up to 50 times). Thx!

JustStable

Helping Stablecoins Reach $1 Trillion In Market Cap