The Breakdown

Three stories about tokenization today: ShapeShift launching FOX (an exchange token); BlockTV launching a token for media contributions; Satoshi's Treasure helping Tezos distribute tokens through games. That's enough to get me curious and thinking about tokens in a historical context: the promise, the problems, and the latest.  Watch: https://www.youtube.com/nathanielwhittemorecrypto

After a huge amount of work, MakerDAO's multi-collateral DAI is live. Only one new token (Brave's BAT) is in the ecosystem, but it heralds the beginning of a new era. In the world of privacy coins, the MimbleWimble protocol is pushing back against a theoretical attack that some say invalidate its privacy features. Finally, Gemini makes its first acquisition.  Watch: https://www.youtube.com/nathanielwhittemorecrypto

11 years ago today, on Halloween 2008, Satoshi shared the bitcoin whitepaper for the first time. The question is: why choose that date? Satoshi was extremely intentional, so it seems unlikely to be random. In this, we explore multiple explanations, including historical analogy to the Protestant Reformation as well as symbolic connection to Samhain/All Saints Day. Ultimately, we conclude that what matters is the fact that the myth-making enabled by Satoshi's departure from the scene is one of the most remarkable and unique attributes of bitcoin.  Watch: https://www.youtube.com/nathanielwhittemorecrypto

Today was a quick news briefing: Bitmain power struggles as Jihan Wu pulls a coup to return China bans anti-blockchain sentiment  Russian crypto intrigue that could confirm the US' worst fears Coinlist raises $10m from Jack Dorsey (among others) The latest Fed action Watch: https://www.youtube.com/nathanielwhittemorecrypto

Times, how they've changed. The surge in bitcoin price and the explosion of China into blockchain has heads spinning. Some argue that we should be celebrating mass adoption of any type. In this audio op-ed, however, I argue that there are two key questions. First is - adoption of what? What is the connection between open, permissionless money networks and an immutable record of a political loyalty pledge? Second, what is the cost of adoption, in moral terms? As the industry ascends, these are key questions to ask now.  Watch: https://www.youtube.com/nathanielwhittemorecrypto

China has had an ongoing role in the crypto narrative. For much of the history of the industry, it was about control of mining. Now, something new is happening. As the crypto industry gets caught up in the larger battles to shape the future of the economic order, digital currency is center spotlight and China is racing into a leadership position. Last week's comments on blockchain from China's President Xi Jinping were like a starting gun. So what's the China narrative now?  Watch: https://www.youtube.com/nathanielwhittemorecrypto

On Wednesday, Zuckerberg responded to the largely hostile US Congress by reminding them that, if the US didn't proactively assert leadership around digital currencies, then China would be more than willing to fill the gap. As if they coordinated it, China's President Xi then made his first formal comments ever about blockchain, asserting that China needed to take a leadership role. Bitcoin soared 15% (although whether related or not isn't clear) and crypto Twitter debated: was this an indication of how far behind the US is getting; an affirmation that blockchain can be a tool of surveillance and control; or both?  Watch: https://www.youtube.com/channel/UCMKxYhVC2lJat7iB9Gec5kw/videos 

Most of the world outside crypto twitter that saw a clip of Mark Zuckerberg's testimony would have no idea that it was, theoretically about Libra. On CT, basically everyone bemoaned the clear lack of giving-a-crap that pretty much any Congressperson had for the actual issue at hand. Elsewhere on CT, however, I announced Bitcoin Macro, a new pop-up podcast I produced for CoinDesk and two of the three first guests - Caitlin Long and Travis Kling - discuss the repo markets. Finally, a quick news rundown including a new BTC futures options product from Bakkt and a new standing blockchain office from the CFTC.  Watch: https://www.youtube.com/nathanielwhittemorecrypto

Facebook CEO Mark Zuckerberg testified before Congress today, nominally about Libra but actually about a lot of things. In this (opinionated) recap of the testimony, we look at: What was different vs. the same in FB's narrative What was different vs. the same in Congress' questions The negotiation factors moving forward Highlights Predictions  Watch: https://www.youtube.com/nathanielwhittemorecrypto

The digital currency wars are getting hotter and hotter, but they're not one dimensional. This narrative watch looks at three key battlelines: Nations vs. Private companies - who gets to make digital currencies?  Nations vs. Nations (specifically China) - competition to get their faster and better Pegged vs. Basket vs. Fractional Reserve - the actual composition of the asset matters - as we see from pressure on Facebook to make Libra a 1:1 peg USD instead of a basket Watch: https://www.youtube.com/nathanielwhittemorecrypto