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The Wolf Den #612 - Factum Money

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November 2 · Issue #612 · View online
The Wolf Den Crypto Newsletter
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In This Issue:
  1. Factum Money
  2. Bitcoin Thoughts And Analysis
  3. Legacy Markets
  4. Free Crypto Research Tools
  5. Coinbase Lends Ripple A Hand
  6. The Crypto Community Puts Politicians On Notice
  7. Buy, Sell And Hold Crypto On Moneygram
  8. My Recommended Platforms And Tools
Factum Money
Smart contracts are the future, but only when they operate with the right form of money.
Fiat and physical money ain’t it.
From Wikipedia: “Smart contracts were first proposed in the early 1990s by Nick Szabo, who coined the term, using it to refer to "a set of promises, specified in digital form, including protocols within which the parties perform on these promises.”“
Early iterations of smart contracts failed, largely because the money to use them properly did not exist.
I can write code to automatically send money from my bank account to yours. However, I can also turn that contract off, use the login to drain your account or simply change the password to make it unusable. The contract is not self enforcing, which is the promise of a truly functional smart contract. Smart contracts without the proper form of money aren’t particularly smart. They are actually just lines of code living in a world with a centralized rule set, with minimal accountability or self-enforcement.
Factum money solves this.
Factum? Damn near killed em.
I learned about factum money from Vitalik Buterin’s book, "Proof Of Stake.” If you have read it, then this might sound familiar.
The evolution of money has followed three stages: commodity money, commodity-backed money, and fiat money. Commodity money is simple to understand. It has intrinsic value. Gold and silver are obvious examples. Commodity-backed money was the natural evolution from commodity money. Banks began to issue money that was redeemable for gold or silver. After eliminating the gold standard, commodity-backed money gave way to fiat money, the weakest of all forms.
It is like the reverse evolution of a Pokemon.
Is there a better form of currency and a reversal of the downward trend in the evolution of money?
Of course. That’s why we are here.
Factum is defined as “a statement of facts.” Fiat money is maintained and supported by the decisions of centralized policymakers. Factum money exists through decentralized balance sheets and the guarantee of code. Facts.
What does this have to do with smart contracts? Factum money is perfect for optimizing smart contracts. Due to it’s design, most would argue that Bitcoin is suboptimal for programming smart contracts. I have no dog in that fight and will not argue either way, lest I trigger the toxic maximalists that believe that Bitcoin solves everything. Bitcoin can be used for smart contracts. But it is also obvious that Bitcoin’s creation led to the development of Ethereum and other layer ones that are arguably better suited for this specific job.
Factum money cannot disrupt the enforcement of a smart contract. Smart contracts can work in the way that they were intended.
Factum money completes smart contracts and smart contracts give factum money a purpose. Like the facing saying from Jerry Maguire, “you complete me.” The two work perfectly in tandem.
Money is evolving, this time for the better. That’s a fact(um).
Bitcoin Thoughts And Analysis
DAILY CHART
Breaking news! Bitcoin is boring and trading sideways. Nothing has changed on the chart. Nothing to see here.
Legacy Markets
Stock Market Today: Dow, S&P Live Updates for Nov. 2 - Bloomberg
“Equities pared gains ahead of the Federal Reserve’s policy meeting Wednesday. A gauge of the dollar fell and gold rose. 
US futures and European stocks were little changed amid signs of slowing global growth. US-listed Chinese stocks rallied in premarket trading and the Hang Seng Index rose in a session cut short by a storm warning as growing speculation over China’s reopening spurred another rally in Asia. 
Traders are weighing mixed economic data ahead of the Fed meeting, where the central bank is expected to raise interest rates by 75 basis points for the fourth time in a row. The European Central Bank hiked last week at a second straight meeting, and the Bank of England is due to lift its benchmark on Thursday.
Treasury yields were little changed and the yen strengthened in a sign traders anticipate a muted impact of Fed tightening on the currency. 
Focus will be on Fed Chair Jerome Powell’s comments following the decision as traders seek clues about where policy is headed.
A continuation of the recent equity rally is contingent on the Fed supporting the “pivot narrative” and the market’s optimism on the matter is “misplaced,” according to Barclays strategists. Former Treasury Secretary Larry Summers also warned that expectations the central bank would pivot were “badly misguided,” saying the Fed should “stay on the current course.”
Investors are grappling with an energy crisis, a looming recession and soaring prices. 
Euro-area manufacturing activity sank to the lowest level since 2020 and A.P. Moller-Maersk A/S, a bellwether for global trade, cut its forecast for the global container market, saying demand will shrink as much as 4% this year and price pressures will remain. The company’s shares fell.
Healthcare stocks outperformed in Europe after Novo Nordisk A/S raised its operating profit and sales forecasts for the year. 
In premarket trading, Advanced Micro Devices Inc. climbed after an expansion into server processors helped offset a slumping personal-computer market last quarter and the chipmaker vowed to make further gains.
Apple Inc. shares slipped after China ordered a seven-day lockdown of the area around Foxconn Technology Group’s main plant in Zhengzhou, a move that will severely curtail shipments in and out of the world’s largest iPhone factory.
Key events this week:
  • EIA crude oil inventory report, Wednesday
  • Federal Reserve rate decision, Wednesday
  • US MBA mortgage applications, ADP employment, Wednesday
  • Bank of England rate decision, Thursday
  • US factory orders, durable goods, trade, initial jobless claims, ISM services index, Thursday
  • ECB President Christine Lagarde speaks, Thursday
  • US nonfarm payrolls, unemployment, Friday
Stocks
  • Futures on the S&P 500 were little changed as of 6:20 a.m. New York time
  • Futures on the Nasdaq 100 rose 0.2%
  • Futures on the Dow Jones Industrial Average were little changed
  • The Stoxx Europe 600 rose 0.2%
  • The MSCI World index rose 0.2%
Currencies
  • The Bloomberg Dollar Spot Index fell 0.2%
  • The euro rose 0.3% to $0.9902
  • The British pound was little changed at $1.1489
  • The Japanese yen rose 0.8% to 147.11 per dollar
Cryptocurrencies
  • Bitcoin fell 0.4% to $20,398.77
  • Ether fell 1.7% to $1,548.13
Bonds
  • The yield on 10-year Treasuries was little changed at 4.05%
  • Germany’s 10-year yield advanced one basis point to 2.14%
  • Britain’s 10-year yield was little changed at 3.46%
Commodities
  • West Texas Intermediate crude fell 0.3% to $88.09 a barrel
  • Gold futures rose 0.5% to $1,658.10 an ounce”
Free Crypto Research Tools
Lady of Crypto
These #crypto research tools are so good you shouldn't be able to afford them in a bear market

But they are free 👀 👇

1/13
Here is a great list of free research tools, compiled by Lady Of Crypto. It’s always a good thing to have more tools in your arsenal.
Coinbase Lends Ripple A Hand
Coinbase Files to Support Ripple Against SEC Case
Coinbase suspended trading of XRP on January 19th, 2021. Two years later, Coinbase is helping Ripple in its battle against the SEC.
Coinbase petitioned a federal court for permission to file a friend of the court brief and joined the Blockchain Association (on Ripple’s side) in the fight. It is clear that Coinbase has issues with the SEC’s stance, which is the reason they are getting involved.
Given the absence of SEC rulemaking for the cryptocurrency industry, the question of whether the SEC has given fair notice before bringing an enforcement action against sales of one of the thousands of unique digital assets will often be highly fact-intensive, which makes it particularly ill-suited for adjudication on summary judgment. In addition, existing SEC registration requirements for national securities exchanges are currently unsuitable to the way digital asset platforms operate. Ripple and others have been the subject of extensive enforcement scrutiny while others – with nearly identical products or services – have apparently been subject to none.
Regardless of Coinbase’s intentions or your feelings towards Ripple, making sure the SEC loses is the main priority for the crypto community.
The Crypto Community Puts Politicians On Notice
38% of US voters will consider candidates' position on crypto in midterms: Survey
According to a study conducted by Grayscale, over 1/3rd of U.S. voters said they would consider a candidate’s position on crypto regulation when voting. Further, over 50% of surveyed voters said they would, “be more likely to vote for a political candidate interested in staying informed about cryptocurrencies.
Crypto is bipartisan. Politicians and voters on both sides of the aisle support our cause. Regardless which party controls each branch of government, there is a viable chance that we see officials elected that will pass sensible laws.
We are not there yet, but things are certainly improving.
Buy, Sell And Hold Crypto On Moneygram
Leading Global Payments Network MoneyGram to Offer Cryptocurrency Services
Global payment companies are going to have to either adopt crypto or risk being crushed by the coming tsunami. MoneyGram is getting ahead of the wave, allowing customers to buy, sell and hold some major cryptocurrencies.
Even in the depths of the bear market, we are seeing steps towards adoption.
My Recommended Platforms And Tools
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The views and opinions expressed here are solely my own and should in no way be interpreted as financial advice. Every investment and trading move involves risk. You should conduct your own research when making a decision. I am not a financial advisor. Nothing contained in this e-mail constitutes or shall be construed as an offering of financial instruments or as investment advice or recommendations of an investment strategy or whether or not to “Buy,” “Sell,” or “Hold” an investment.
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