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VeradiVerdict - On Recent Price Changes - Issue #13

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Hi, I am Paul Veradittakit, a Partner at Pantera Capital, one of the oldest and largest institutional
 
November 27 · Issue #13 · View online
VeradiVerdict
Hi, I am Paul Veradittakit, a Partner at Pantera Capital, one of the oldest and largest institutional investors focused on investing into blockchain companies and cryptocurrencies. I focus on early investments and want to share my thoughts and what’s going on in the industry in this weekly newsletter.

View and comment this newsletter on Medium

Editorials
The most common question I was asked last week was about the price of Bitcoin and cryptocurrencies and what I think. I tend to look at price once a day so that I can be informed of the state of the market but I really don’t put too much weight on price. I focus on investing into companies, infrastructure, and applications to get mainstream adoption of the industry, price will come later and be a result of that.

I think two of the major factors that have contributed to this price decline are the recent SEC regulations of two token projects (see here) and the forking of Bitcoin Cash (see here).

The industry is still very early, and I think two factors will contribute to the next bull run, more usage of decentralized applications and institutional capital. Augur and 0x are starting to see some usage but we won’t see a significant increase of usage until cheaper and easier fiat onramps and much more scalable underlying blockchains. For institutions to invest into the space, we need to see more infrastructure around exchanges and custody. Companies like Bakkt, Eris, and Fidelity’s blockchain suite are helping with this.

The 2013 crypto bubble took some time to recover from, and we’ll recover from this one.
Digests
The State of Crypto Funds-Part 1
Bleeding – AVC
Token distribution in perspective: Livepeer’s merkle mine not as successful as portrayed
Programmable Constraint Systems for Bulletproofs – Interstellar
In the Tweets
Ben Carlson
Sure crypto is down 90% or so in some cases but so was one of the most successful companies in the history of mankind being run by the richest man on the planet

All crypto has to do is follow the exact same path as Amazon. Why is that so hard to imagine?
6:57 AM - 26 Nov 2018
Katherine Wu
For those of you who are interested in reviewing + keeping up with the SEC's actions in the crypto space, I have compiled all the SEC actions/ statements thus far.

Check it out and let me know if i have missed anything. Otherwise, nerd out and enjoy:)

https://t.co/r5IBz0xyHf
1:57 PM - 20 Nov 2018
News
600K Bitcoin Miners Shut Down in Last 2 Weeks, F2Pool Founder Estimates
Circle's Dollar-Tied Stablecoin Fully Backed, Auditor's 'Attestation' Says
Bitcoin Mining Firm Giga Watt Declares Bankruptcy Owing Millions
Regulations
Four More ICOs Hit with Cease-and-Desists by Colorado Securities Regulator
Singapore's Stock Exchange Clarifies Rules for Listed Firms Issuing ICOs
Will Ohio’s Acceptance of Bitcoin for Tax Payments Increase Legitimacy of Crypto?
New Products and Hot Deals
Introducing The Kyber Trading API – Kyber Network
Coinbase Backs Security Token Startup's $12.7 Million Funding Round
Bitcoin Smart Contract Startup RSK Unveils New Infrastructure Project
IBM, Columbia University Launch Blockchain Accelerator Programs
Meet with Me
I  will be traveling this fall for certain events, and to meet with investors. Let me know if you and your colleagues would like to meet in person.

New York, Consensus Invest, November 27
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