With the price of Bitcoin dipping below $4,000 and ETH (temporarily) in the double digits, the feeling that crypto has entered what could be a long, cold winter has finally set in.
There is plenty this week to support that sentiment. This long essay on the crypto crisis
, for example, or this post about why many crypto hedge funds are likely to shutter
their doors. There is the immensely value destructive
hard fork of BCH and the pondering about the challenges of governance in other cryptonetworks.
Taken together, these pieces tell the story of an industry that may be struggling around current prices and the real world implications those prices have, but a mind space that is still flourishing and developing. If you find the right way to stay warm, you might even find the winter to be its own type of beautiful. Happy Long Reads.
PS. I’ll be looking into some formatting / alternative newsletter hosting in the weeks to come to avoid the wall-of-text below. Thanks for your patience.
1/ Long Reads Sunday #22. Bitcoin under $4k. Ethereum hovering near double digits. The coldest Thanksgiving in 100 years seems, in retrospect, an inauspicious sign as we settle into what might be the first of many cold crypto winter long reads.
15/ Also, for real, can we get a big set of claps for @PeterMcCormack’s @WhatBitcoinDid which is consistently one of the best researched and most thoughtful podcasts available and is just celebrating its one year anniversary? TY for all the work, Peter! https://twitter.com/PeterMcCormack/status/1066694498925903873
17/ Speaking of long horizon thinking, @hasufl and @zhusu have teamed up once again for a new series for Bitcoin skeptics. This piece is a spiritual successor to their piece earlier in the year on evangelizing bitcoin and I’m excited to read the full series https://medium.com/swlh/why-bitcoin-3fdee2328759
19/ On the topic of ICOs, after the SEC actions a couple weeks ago, many declared the ICO party dead once and for all. @KyleSamani argued that it had, in fact, it had been dead for all of this year, and there is a new compliant ICO party soon to begin https://twitter.com/KyleSamani/status/1064522213318115328
24/ I’ve been keeping an eye on the Moloch DAO project - an open source approach to communal funding for shared protocol infrastructure. @austingriffith shared a Turkey day screencast playing around with it and explaining the game theory that drives it. https://twitter.com/ameensol/status/1065761905170468864?s=21
27/ Taken together, these pieces tell the story of an industry that may be struggling around current prices and the real world implications those prices have, but a mind space that is still flourishing and developing. If you find the right way to stay warm, you might even find the winter to be its own type of beautiful.
28/ Happy Long Reads #22!