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Long Reads Sunday - Issue #43

Happy Easter! Back with a full edition next week - thanks as always for reading. NLW
Long Reads Sunday - Issue #43
By Nathaniel Whittemore • Issue #43 • View online
Happy Easter! Back with a full edition next week - thanks as always for reading. NLW

Long Reads Sunday #43. Welcome to the epically exhausted Easter Bunny edition of LRS, brought to you from a Red Eye en route back to JFK. May this 40,000 foot view of the world bring some insight (or at least some snark). Let’s dive in, shall we? 
2/ We have to start the week with #delistBSV. As we shared last week, BSV’s backers have started to get extra litigious, arising the ire of the community, warnings, and subsequent call to delist from exchanges. https://twitter.com/APompliano/status/1116711894625202176
3/ Subsequently, @binance @krakenfx and @ShapeShift_io delisted BSV.
It is an interesting moment - I’ve seen some argue that it demonstrates an industry immaturity that will turn off investors, while others see it as the community defending its values. https://t.co/0dFP367GCD
4/ One important context for the conversation around BSV is the question of whether delisting represents some form of censorship. I tend to agree with @AriDavidPaul that our conversation about censorship needs to be much more nuanced. 
5/ Whether we think it’s a good or bad thing, #delistBSV has certainly reinforced the centrality of exchanges in driving the markets. @TheStalwart wrote about what it said about power in crypto in the @markets newsletter. https://twitter.com/TheStalwart/status/1118105869059796994
6/ One area where exchanges have faced scrutiny lately is around volume. In the wake of a @BitwiseInvest report to the SEC, @nomicsfinance announced new transparency ratings that categorize exchanges on the basis of the type and way they share data. https://twitter.com/ClayCollins/status/1118268380249776128
7/ Still, worries of transparency or no, between IEOs and token delistings, exchanges are grinding. The latest example? When Mithril announced that they were moving to Binance Chain, they saw an immediate and significant price bounce. https://twitter.com/crypto_bobby/status/1118895468707307521
8/ Token Migration is one of the most interesting emerging narratives of this moment. Is it just for a price pump? Does it suggest developers will be more agnostic about base chains? I tried to capture and track some sentiment. https://twitter.com/nlw/status/1118914996740583424
9/ One obvious question arising from token migration is what the impact of the trend (to whatever extent it becomes a trend) might be on Ethereum. I thought Spencer articulated the “Ethereum shouldn’t be worried RN” perspective really well. 
10/ So well, in fact, that I asked @SpencerNoon to do one of the LRS Takeaway’s for the week, focused on the Binance Chain Mithril migration and it’s potential impact on Ethereum. https://twitter.com/nlw/status/1119987879441256448
11/ In a related by different point, @TonySheng discusses the importance of network effects and how they’re likely to play out in the context of the smart contract platform wars. He doesn’t discuss BNB specifically, but it’s definitely related. https://www.tonysheng.com/bootstrapping-crypto-network
12/ One point that many made when I asked about BNB Chain was that token migration is pretty low on Ethereum’s list of issues to address. One major topic of conversation is ongoing project funding. @RyanSAdams comments on a new EIP to add block reward funding for Ethereum devs https://twitter.com/RyanSAdams/status/1118938565306613762
13/ I think that the question of the right way to align incentives between base layer protocol devs and other types of stakeholders is incredibly important - and better done around real examples. @Owocki summarizes the proposal in this second LRS Takeaway. https://www.youtube.com/watch?v=QbvjdoS5taA&feature=youtu.be
14/ @WarcMeintsein also wrote about funding - looking at the emergence of ecosystem funds as a major capitalization route - especially during a bear market where other types of capital can try up. https://medium.com/wave-financial/unraveling-the-ecosystem-financing-landscape-f819a159baf5
15/ Then again, there was also some interesting news in a related area, as Proof of Capital, a new fund from @edithyeung and @mccannatron announced $50m and a mission to deploy capital globally https://twitter.com/mrjasonchoi/status/1118556917461176326
16/ Also this week, @sbmckeon announced Collab Crypto - a new effort from @collabfund to fund the “new rails for value transfers of all types: assets, payments, insurance, and more.” https://twitter.com/sbmckeon/status/1118512105026740231
17/ Indeed, there was even more evidence this week of investor interest in crypto…or…well, at least, Bitcoin. The new report “Bitcoin in Heavy Accumulation” from @TuurDemeester’s Adamant Capital was read by more than 7,000 investors worldwide within 24 hours of release. https://twitter.com/TuurDemeester/status/1119272239122264064
18/ And speaking of Bitcoin and speaking of global, certainly one of the most fun things to happen this week was the kick off of Satoshi’s Treasure - a global collaborative and competitive hunt for $1m in BTC. Check out this interview with @wheatpond https://www.theblockcrypto.com/2019/04/19/we-talked-to-the-co-creator-of-satoshis-treasure-the-million-dollar-global-bitcoin-scavenger-hunt/
19/ One response to Satoshi’s Treasure has been the rapid creation of global collaborative organizations. Of course, these sort of orgs are exactly the type that might want DAO tools to coordinate. This interesting essay explores what type of orgs should be autonomous https://medium.com/amentum/what-types-of-organizations-should-be-autonomous-6f9dff3c5691
20/ Okay, let’s do some quick hits through some key topics. First up, Privacy. @CasaHODL announced the #MyDataMyLife campaign this week to make the norm “Privacy By Default.” https://twitter.com/AlenaSatoshi/status/1117868500884672512
21/ In this massive essay, @Melt_Dem goes for the jugular of the “I have nothing to hide; why do I care about privacy,” argument. I truly believe that the battle of privacy vs surveillance is one of the defining issues of the coming decade. https://medium.com/@Melt_Dem/im-not-an-international-drug-dealer-3e8e3c75c57c
22/ <quick aside on Surveillance> This tweet from @soonaorlater is the type that when I see I think “fuuuuuuuuuuuuuuuuuuuuuuuuuuuuugggg I wish I wrote that tweet https://twitter.com/soonaorlater/status/1118934766999310336
23/ The other topic that I can’t possible go a full LRS without mentioning is #DeFi. Let’s start that section with a great thread from @AriannaSimpson about the latest in @UniswapExchange https://twitter.com/AriannaSimpson/status/1118209766533287936
24/ Meanwhile, the conversation about the Maker DAI stability fee continues to grow. It went up again this week to 14.5%. A few threads & convos on this: +@Hasufl https://twitter.com/hasufl/status/1119272298371002368 +@tusharjain_ https://twitter.com/TusharJain_/status/1119272371234451457 +@_RJTodd https://twitter.com/_RJTodd/status/1119038877786955776
25/ A few more quick hits before my face crashes through this computer. Big excitement in the world of #YangGang as we get more detail on @AndrewYang’s thoughts on crypto https://twitter.com/AndrewYang/status/1118951469091368960
26/ The discussion of decentralization is important to contextualize in terms of benefits and tradeoffs. This thread from @ArthurB looks specifically at the spectrum between decentralization and efficiency. https://twitter.com/ArthurB/status/1118641114460901378
27/ One of the most important issues for applications built on blockchains is usability. This essay from @AlexSkidanov goes deep on the state of the experience today. https://medium.com/nearprotocol/on-usability-of-blockchain-applications-398963798ab3
28/ Here’s one from the <popcorn> file. @TimCCopeland on the stories of a peak ICO crypto promotions business. 20% of token sales for promoting? Absolutely insane. https://decryptmedia.com/6507/john-mcafee-crypto-promotions-business
29/ Finally, let’s end with this important macro view from @EpsilonTheory. “Financialization is the zombiefication of an economy and the oligarchification of a society.” https://www.epsilontheory.com/this-is-water/
30/ Oh and hey - one last quick shoutout. Congrats to @AmoilsNisa on the release of her new book "WTF Is Happening: Women Tech Founders on the Rise.” Excited to dig in to this one https://www.amazon.com/WTF-Happening-Women-Tech-Founders-ebook/dp/B07Q5B53N8/ref=nodl_
31/ Alright team, my face is going to fall off. For anything that I’ve missed (and I’m sure there’s a bunch) apologies and let me know in the comments. Sign up to get LRS via email below. https://www.getrevue.co/profile/nlw
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Nathaniel Whittemore

Bitcoin & crypto's most interesting Twitter threads and long-form essays.

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