The Control - Issue #36
Yesterday was the 7th anniversary of the BTC flash crash on Mt. Gox, where the price fell from $17/BTC to below $1/BTC. At that time, millions of dollars of BTC traded per day and one exchange handled 99% of trading volume.
There's now billions of dollars of trading per day on many exchanges globally and the BTC price is up 6700X+ from that time; the space has come a long way in 7 years. But there continues to be no shortage of drama, with another crypto exchange hack, a mainnet freeze arising shortly after the EOS launch and a Tezos KYC surprise among other things occurring in the past week.
Amid the drama, here are some thoughtful pieces recently put out by members of the community.
Required reading this week
Analogies, the Big Picture, and Considerations for Regulating Crypto
Scott Kupor from a16z explains the history of securities regulation, the Howey test, and what oranges have to do with tokens.
Making Sense of Web 3 — medium.com
Josh Stark from L4 gives a great high-level overview of what Web 3.0 means and what the new Internet will look like.
Ethereum Will Be the Backbone of the New Internet — medium.com
James Duffy from Loom Network argues that the amount of developer tools and infrastructure for Ethereum will make it the dominant plaform for dApps.
The State of the Ethereum Network — media.consensys.net
ConsenSys puts together statistics on the Ethereum network today, its past, and its roadmap ahead.
Glenn Weyl Book Lecture: Radical Markets Uprooting Capitalism and Democracy for a Just Society - YouTube — www.youtube.com
Glen Weyl's talk on his recent book "Radical Markets." Many applications to blockchain including a common ownership self-assessed tax for Ethereum name service and quadratic voting for on-chain governance. Vitalik's commentary here.
1confirmation portfolio reading
Bid on your favorite Crypto Collectibles! — medium.com
Opensea introduced "Make an Offer" - now you can bid on any crypto collectible without paying gas, regardless of whether it's on sale.
dYdX Launches on Testnet — medium.com
dYdX Margin Trading Protocol launched on the Kovan Testnet.
Part 2: A Primer on Dai — medium.com
Part Two of Maker's blog series: a primer on Dai and everything you need to know about it. Check out Part 1 here.