Twitter and the cryptocurrency information wars

Leo Zhang

By Leo Zhang

One of the most challenging parts of investing in the cryptocurrency market is discerning information from noise. The peer-to-peer and open-source nature of most of the cryptocurrency projects makes the communications in the space native to social media, not PR and traditional media. But this isn't a phenomenon that is unique to cryptocurrency; prominent corporate managers are using social media to bend the rules in equity markets, too.

Elon Musk, Twitter, and what it means for future investors
(Hackernoon, by Stefan Cheplick)

"When Musk tweets, the big bulge bracket banks, the ones with billions of dollars under management, or more than 10,000 employees, get the exact same information as me, the guy who moved to New York City a year ago, manages his own account, and lives in an apartment the size of some closets."

Technical Updates

On Grin, Mimblewimble, and monetary policy
(Token Daily, by Myles Snider)

"Grin is taking a different approach from both of these projects. Grin has a linear supply schedule, meaning that inflation as a percentage of existing supply is very high early on but gradually lowers over time, approaching zero percent but never actually reaching that. Its overall supply is unlimited, with a tail emission that will continue in perpetuity. This makes it less of a digital gold competitor and more of an attempt at being an actual currency."

New Zap desktop, Zap iOS and what's next
(Jack Mallers)

"I’m super excited to release our new cross-platform Zap desktop app for Mac, Windows and Linux. We’ve got tons of new things like LND-0.4.2, a complete re-design, new on-boarding, autopilot configuration, remote node connection, sats/bits/BTC denomination support, BTCPay support and much more."

How to setup ZenCash Super Node- A beginner's guide by VoskCoin

State of the dApps (hint: way too early)
(Hackernoon, by Andrew)

"Virtually all of the currently available top DApps were created in order to redistribute the surplus of crypto and make more intelligent people somewhat richer, and vice-versa, hence the popularity of pyramids and pay-to-win-games. Numerous mediocre CryptoKitties clones and poorly drawn NFT-based 'games' also confirm this theory."

New Bluetooth hack affects millions of devices from major vendors
(The Hacker News, by Swati Khandelwal)

"In this case, an unauthenticated, remote attacker within the range of targeted devices during the pairing process can launch a man-in-the-middle attack to obtain the cryptographic key used by the device, allowing them to potentially snoop on supposedly encrypted device communication to steal data going over-the-air, and inject malware."

How technology grows (a restatement of definite optimism)
(Dan Wang)

"I think that technology ultimately progresses because of people and the deepening of the process knowledge they possess. I view the creation of new tools and IP as certifications that we’ve accumulated process knowledge. Instead of seeing tools and IP as the ultimate ends of technological progress, I’d like to view them as milestones in the training of better scientists, engineers, and technicians."

News & Commentary

Cryptocurrencies are money, not equity
(Token Economy, by Brendan Bernstein)

"Pretending tokens are equity-like differentiates their token from Bitcoin. Instead of appealing to the monetary nature, a whitepaper can propose notions that appeal to traditional equity investors. But really, all unpegged cryptocurrencies are money and need to be understood that way."

Decade after crisis, a $600 trillion market remains murky to regulators
(CNBC, by Emily Flitter)

"A Goldman spokesman said less than 1 percent of the bank’s global derivatives activity wasn’t visible to the Commodity Futures Trading Commission, but he declined to comment further."