Happy Friday, Blockfolians
The Lede
FUD season continues.
The Wall Street Journal is writing about how good crypto is for criminals. They site a study from two years ago saying that 46% of transactions from 2009-2017 were for illegal purposes. Cutely, they fail to mention that on-chain analysis suggests that the percentage was actually 0.34% in 2020.
Then there’s China. The last few weeks have seen shutdowns of coal-powered mining in a number of provinces, but no one was sure of the fate of hydro powered mining. Well, Sichuan is now shutting down 26 hydro plants so seems like a true total mining end in China.
There is good and bad to this of course, and more complication than most news would suggest.
Remember….
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Highly Relevant Reading
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A blockchain strategy for BlackRock?
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Galaxy Digital teams up with Goldman Sachs
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BBVA opens bitcoin trading and custody
Community Commentary
A different take on some institutional news
OH DEAR—traditional (leveraged) bank now trading #bitcoin, which settles in minutes w/ irreversibility. Banks’ operations & reconciliation processes are NOT set up for assets w/ such features (most banks settle 1x/day). Add leverage to mix=may not end well
Very cool.
We are our ancestors’ wildest dreams.
Let’s make them dance.
Special thanks to @decryptmedia and the new homie @jbensonwrites 🙏🏾:
“…the majority of the world that has been overlooked for centuries are going to be the leaders of the new internet.”
decrypt.co/73900/new-cryp…
A Really Big Number We Should Be Paying Attention To
$913,808
That’s the price just paid for a plot of virtual land in Decentraland – a new record
Final Thought
Listen to the man
