View profile

The Decentralization Premium (or Curse)?!

Take a look at our latest product, a tradeable crypto index, 108 Token. 108 Token immensely simplifie

Satoshi&Co Daily Crypto Newsletter

August 11 · Issue #17 · View online
ZPX | Satoshi&Co Newsletters

Take a look at our latest product, a tradeable crypto index, 108 Token. 108 Token immensely simplifies crypto investing by offering diversified exposure to a basket of the top 15 cryptocurrencies by market cap. Think of it as the equivalent of investing in the S&P 500 of cryptocurrencies. With 108 Token, investors never worry about coin selection, wallet management and portfolio rebalancing.
Also, you can earn free tokens by referring folks you know to 108token.

“We are prone to epidemics of fallacies (scientism, universalism, academism, psychosociologism, stateworshipism), but not epidemics of wisdom, as nature filters out those with bad immune system” - Taleb
The crypto downturn in 2018 mirrors the broader slump in demand and valuations that follow the initial hype of inflated expectations and irrational exuberance in the lifecycle of an emerging technology. After a frothy 2017 that saw record amounts of capital being raised through ICOs at dizzying valuations, to the constant refrain of “Bitcoin is going mainstream”, reality started biting when investors figured out there was little on-ground activity to justify these sky-high valuations. Rather than rewarding projects that are focused on bringing their products to market and drive adoption, investors are seemingly pouring more wealth into new projects and clones of existing projects, a-dime-a-dozen of which seem to popping up every second. This is further going to lead to the fragmentation of already scarce developer pools, where well-funded but mostly distinctly run-of-the-mill projects are trying to lure developer talent by offering short-term incentives, at the expense of the long-term interests of both the ecosystem and developers.
Source: CoinSchedule, ZPX Research
Source: CoinSchedule, ZPX Research
Source: CoinSchedule, ZPX Research
Source: CoinSchedule, ZPX Research
While there have been droplets of positive news dribbling into the market, such as the one around increasing regulatory acceptance of cryptocurrencies, with the SEC stating that ETH and BTC are not securities, the adoption of cryptocurrencies and DApps is still extremely low. To put numbers into context, the total number of daily active users for all the DApps together currently stands at <10k users in comparison to roughly ~2B daily active users on Facebook alone. The immediate road ahead looks rough for DApps as Ethereum’s scalability issues eventually translate into difficulties in user engagement. Furthermore, UI/UX for DApps is very much a work-in-progress as compared to that of centralized web applications.
On the positive side, we are encouraged by the launch of Augur and the potential size of the market that could be unlocked by censorship-resistant prediction markets. Augur offers a promising alternative to the existing betting/prediction markets which are expensive, rent-seeking, heavily regulated and geographically fragmented. We need more applications like Augur that can open up new markets, markets which were previously inconceivable in a centralized world, rather than decentralized knock-offs focusing on land-grabbing market share from their centralized counterparts. Although we do think that assassination markets on Augur are an example of libertarianism gone too far!
As Jill Carlson put it in a tweet - I’m not interested in recreating Wall Street’s systems around a new asset class. I’m interested in creating a new system around Wall Street’s asset classes. ZPX was at Korea (Beyond Blocks). Great event, a distilled, somewhat nicer but crazier version of Consensus, with fewer optionality-seeking newbies phishing for business cards.
Also, proud and happy to have some of us espousing the cause of Blockchain at various events across Asia.
Gautam Seshadri Speaking at ETH India
Gautam Seshadri Speaking at ETH India
Ramani 'Ram' Ramachandran @ IBC Goa
Ramani 'Ram' Ramachandran @ IBC Goa
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