View profile

Satoshi&Co Daily Crypto Newsletter #34

Join a growing list of crypto experts, leading investors and blockchain aficionados who have chosen t

Satoshi&Co Daily Crypto Newsletter

October 22 · Issue #53 · View online
ZPX | Satoshi&Co Newsletters

Join a growing list of crypto experts, leading investors and blockchain aficionados who have chosen to receive this newsletter in their inbox everyday - sign up here.

Fear not, crypto-faithful. So what if Changelly has decided to implement KYC/AML controls; Trezor has just announced that users can swap between coins within its hardware wallets. We are not exactly sure how this will work though as it seems like it will still require integration with Changelly/Shapeshift.
We have always believed that in the cryptoworld, wallets and exchanges provide broadly the same function, albeit with different user interfaces and costs. Wallets are intuitively simpler, but not very transparent on pricing, while exchanges can sometimes be overwhelming but have much better pricing transparency. For most of the retail market, especially that bit that is not actively trading these things multiple times a day, an efficient UX/UI provided by the likes of a wallet will be worth the extra cost imposed by the wallet. What is more, a lot of regulators might not let an exchange slide, but they will let a wallet be.
In spite of all the negative vibes it gets from the crypto community, Ripple gets some things right. Like their detailed disclosures, for instance
Oh Dr.Roubini! It does not matter if you are right or wrong about bitcoin. It is just plain wrong when you lose your cool and start responding to twitter trolls, at the level of /twitter trolls.
For the record, here is a list of things that Roubini got wrong in the testimony. Sometimes makes you wonder if he just got lucky with the 2008 crisis. For the record Raghuram Rajan called out the crisis before anyone else, in his now legendary address in Jackson Hole, way back in 2005. As for Roubini, as someone tweeted on twitter - It is always good to be a pessimist; You are either constantly being proved right or you are being pleasantly surprised!
And just before we click the send button on your favorite daily newsletter, we learn that Ethereum has postponed its planned hard fork, Constantinople. Of course being spun as a good thing, and it well might be…
Meanwhile in Crypto Wonderland....
“Can Blockchains Help in Voting?”
In an article published by Business Insider, three researchers with the Initiative for CryptoCurrencies and Contracts (IC3) are questioning whether blockchain technology will be able to change the internet voting sector for the better. The scholars argue that while blockchain technology might serve to revolutionize other industries, internet voting might be a sector that doesn’t benefit from the technology at all, and could potentially even be harmed by it.
“China Could Compromise BTC Network”
According to a recent research report compiled by researchers from the Florida International University and Princeton University, China has tremendous influence over the bitcoin network largely due to its monopolization of the system’s hashing power. According to the report, a ‘Trojan’ type of attack involving Chinese ‘participants’ posing as miners in foreign mining pools would allow the submission of incomplete blocks to such pools and this would ultimately undermine mining efforts.
“ Hacked”
$11 million worth of TIO coins were stolen by hackers on the platform, despite the coins being held in a cold wallet, which in turn was kept in a safety deposit box in a bank that was not compromised. The hackers transferred a small portion of coins to cryptocurrency exchanges  Kucoin and Bancor before the company ordered to freeze TIO trading on those platforms. Following the incident, Bancor delisted TIO while Kucoin suspended TIO trading.
“Ephrata Stops New Mining”
The city of Ephrata, Washington, will halt new crypto mining developments in the city for the next 12 months. The suspension will only affect new crypto operations from being established in Ephrata, while the existing four businesses already there will continue operating. According to the city administrator, these four crypto operations are being relocated at the moment.
“Pay Your Bills: Court  to Church”
A court ruling in Russia recently determined that a church must pay higher electricity fees, due to the fact that they are running cryptocurrency mining hardware on the property.  Although this is an isolated court ruling, it certainly has implications for private citizens, who are mining in their own homes. “Grace”, the evangelical religious organization involved, denied that the electricity was used to mine cryptocurrency.
108 Token NAV Update
Today’s NAV is ~$1.17, up roughly 18% since launch.
You can express your interest in 108 Token Series II here. This will be an open-ended, rolling vehicle.
Also reach out to us if you are a market maker or a liquidity maker that is interested in a conversation around the 108 Token.
Crypto Twitter Pick
James Prestwich
Think of a blockchain as a DB but writing to it sucks and querying it also sucks and also the maintainers hate you
What We Are Reading / Listening To
Overnight Performance of Top 10 Currencies
In addition to this daily newsletter, you can find more stuff to read at our news and research portal, our crypto index token and our upcoming relayer.
Brought to you by Satoshi&Co
Brought to you by Satoshi&Co
Did you enjoy this issue?
If you don't want these updates anymore, please unsubscribe here.
If you were forwarded this newsletter and you like it, you can subscribe here.
Powered by Revue
ZPX | 21-01, Clifford Center, Raffles Place, Singapore- 048621