WTF Crypto?? 04/06/18

Will O’Leary has been toying with a new format for his links posts, 3 To The Moon and 3 Rekt. I am personally rekt that I didn’t think of that because it’s a great format, but even more so after a week of whattt the fuckkkk crypto? For example: Just because the collective IQ of two people having a twitter spat is 250 points or higher doesn’t make a the spat somehow intellectual, it’s just as cringy as when the rest of us do it. Whattt the fuckkk Buterin and Wright? You get it.

So, in the spirit of toying around with new concepts for delivering quick daily bites: I hereby introduce WTF Crypto??

The Reserve Bank of India has passed down a pretty harsh edict to banks in the country: You have three months to unwind any exposure to crypto trading. WTF India? I’d heard you were pretty cold on Crypto, but this is ridiculous! You’ve got a country full of well educated and tech savvy people, and even those who aren’t could really use a bit of that financial freedom that crypto provides. Want to ban alts because pump and dumps — go ahead, but why are you throwing the baby out with the bath water? WTF Crypto?

Bitcoin Cash is planning a fork of itself to allow 32MB blocks. WTF Bitcoin Cash?? Where is this coming from, and don’t give me that “Satoshi’s original vision was 32MB blocks” nonsense. You just forked to 8MB eight months ago, and you’re fighting the same adoption battle Bitcoin and everyone else is. This has nothing to do with scaling, and you don’t need that kind of size or headroom yet. I’ve got a pretty good feeling that this is just a PR response to BTC going onto lightning network, and now you get to say “See!? We’re only scaling on-chain!” Having a hard time seeing this as maintenance and not a stunt. WTF?

SEC puts Bitcoin ETF’s back on the table. They are considering ETF proposals by ProShares for two different ETF products this spring. Why was anything off the table?