Solana’s New Path

December 09, 2022

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One by One, Two by Two

December 08, 2022

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Open Source Wisdom

December 05, 2022

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Digital Indices Sailing Rough Seas

December 02, 2022

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digital daily: Disrupt and Dissent

Disrupt and Dissent: Bitcoin is championed for its payment and store-of-value attributes. Yet, its programmability, spawning innovations like the Lightning Network and Taproot, shine bright like a diamond. Skeptics have shifted their position from "it's slow" to "why bother?" Now, it is a question posed to the broader ecosystem. Isn't what we have good enough? No, it’s not. Besidshinees, that's not the standard. Good enough for what and for whom? Perpetual disruption is the standard. The average size of a US home has grown 150 percent since 1980, those homes now have one bathroom per occupant, and households with 3 or more cars are the fastest growing demand segment for vehicles. Because we can't share bathrooms and cars any longer? Our preferences are regulated and taxed. The rules are transparent and clear. Those took time to develop. For now, cryptoassets are confronting regulation by enforcement – evident in the SEC shuttering of Kraken's US staking services. But within regulatory agencies, there is healthy debate and dissent. Kraken's violation was the absence of registration, not investor harm. The dissenting view asked a simple question – would registration have made a difference? Unlikely. Kraken is now precluded from ever offering staking services in the United States, and the cryptoasset community has no greater clarity on the registration process. It won't deny progress, it’ll just change the location. China's ban of bitcoin mining led to a surge in US market share, and no interruption to the Bitcoin network. Tether is the largest USD stablecoin despite not operating in America or servicing US persons. The cryptoasset ecosystem will persevere with logic, patience, self-regulation, and more logic. Trust in math –people are complicated.