TWEET OF THE DAY
“Dad, what was the end of the credit cycle in the late 2010s like? ‘Well son, money was so cheap that startups raised money in the form of upstart money to create their own new money, and turned around and invested that money into other startups raising money to build money.’”
NEWS OF THE DAY
🇰🇷 OKCashBag the biggest mileage and membership system in South Korea — operated by SK, the country’s largest telecom conglomerate — is rolling out a crypto-powered rewards system to its 35 million strong user base.
⚖️ Ripple’s hit with a lawsuit. Again. Marking its third securities lawsuit of the year. On what grounds? David Oconer — the plaintiff — is demanding that the court classify XRP as a security, and he’s “seeking relief for the ‘damages, recession’ that he incurred from investing in the coin.”
🇮🇳 Indian crypto exchanges continue to operate. In spite of a court ruling mandating banks sever ties with the exchanges, most aren’t stopping their services. In fact, some exchanges are even working to set up a way to mediate amongst each other and provide lines of credit without direct access to banking services.
🚀 StellarX: A user-friendly way to trade all types of assets — fiat, crypto, bonds, etc — cheaply and quickly while maintaining sole control of your keys.
🌱 WePower: WePower just launched the alpha version of its energy trading/financing platform.
READ OF THE DAY
📖 Bitcoin: Digital cash or digital gold? Both. Tuur Demeester’s classic post on the digital cash/digital gold divide and why he doesn’t think they’re mutually exclusive. ‘Digital cash’ supporters focus on accessibility and keeping transaction fees low whereas ‘digital gold’ supporters put more of an emphasis on bitcoin’s security — regardless of the cost needed to maintain it. Here’s why Tuur Demeester thinks bitcoin will be both.
THOUGHT OF THE DAY
Opinions and observations from our readers. Have a thought you’d like to share? Reply directly to today’s issue, and we’ll review your submission.
“Anyone can fork your project. You can’t stop them, and that’s ok. It’s a key characteristic of distributed consensus.
Any project in this space that has a modicum of credibility is open source, being able to audit the code is essential for systems handling user funds. As a result, anyone can fork your project if they disagree with the direction it is taking.
Don’t be scared of forks, embrace them. The market/users will value the fork. If it doesn’t achieve dominance relatively quickly, its value will trend to zero long term since it will be at risk of a new fork obviating it. The fork essentially has no reason for continued existence if market/users don’t demand it at time of creation.”
QUESTION OF THE DAY
Does the Origin token make the actual product better? Why not just use ETH?
THING TO KNOW
50 Shades of Blockchain
From Dogecoin creator Jackson Palmer, a twitter bot whose tweets are a mashup of 50 Shades of Grey and cryptocurrency whitepapers. For “deliciously sinful new crypto analysis each day” follow @blockshade on Twitter.