The Dappening – Token Daily – Medium

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more of a twitter person: @soonaorlater May 2 The Dappening TWEET OF THE DAY “I’m forking my spoon it will now be known as a spork. Spork is the real bitcoin.” – We’re sure we’ll find a parallel universe where this makes sense, Edy . Until then, here’s a primer on hard spoons . And…

more of a twitter person: @soonaorlater May 2 The Dappening TWEET OF THE DAY “I’m forking my spoon it will now be known as a spork. Spork is the real bitcoin.” – We’re sure we’ll find a parallel universe where this makes sense, Edy . Until then, here’s a primer on hard spoons . And in case you need a refresher: the difference between a soft and hard fork.

TLDR IF YOU ONLY READ THE HEADLINE 🗓 Mark your calendar …for May 7th aka Ethereum Judgment Day.

What’s happening? A group of SEC and CFTC officials are going to discuss whether or not Ether should be regulated as a security . What’s each side saying? At a high-level, those in favor of Ether being considered a security argue that it passes the Howey Test and that its distribution in 2014 relied on The Ethereum Foundation. Those against it, argue that Ethereum has become so decentralized that it shouldn’t be deemed a security. Including a16z-led Venture Capital Working Group.

Which has some of us asking whether VCs lobbying for a specific outcome helps or hurts the cause. 💰 Goldman Sachs to open a bitcoin trading operation.

We can’t say we didn’t see this one coming. Goldman Sachs is dipping its toes in crypto but won’t initially be buying and selling actual bitcoin. Instead, GS is using its own money to trade bitcoin futures contracts on behalf of clients. Which some have pointed out is basically just a move to profit off of unsophisticated investors.

But hey, now bitcoin will have more “ legitimacy .” 🧐 ICOs are cancer. This headline certainly had us doing a double take. In his latest Medium post , Michael Flaxman first identifies four major problems ICOs are trying to solve: government regulations, access to liquidity, more investment channels for startups, and platform profit-sharing (utility tokens). He then lists the fundamental issues ICOs have that “make the cure worse than the disease” — including: lack of basic investor protections, misaligned company incentives (raising too much money before finding a product-market fit can kill companies), massively complex regulations (and other distractions), plus difficulty in private key management. Best quote from the post? “Using a blockchain without a need for censorship resistance is like using a rube goldberg machine to turn the page on your newspaper.” 📝 Elad Gil on the core cryptocurrency use cases. You know you’re in for a treat when a post on crypto kicks off with “I am skeptical of 99% of the crypto projects under development today.

” In Elad’s latest, he walks through four core use cases that cryptocurrencies currently fill. They are: store of value (which helps with seizure resistance and ease of transport), private assets and payments, securitization platforms, and persistent digital goods (which includes games, esports, collectibles, and eventually fine art). Something worthy of noting : dapps didn’t make the list. QUESTION OF THE DAY What will be the first decentralized app to become mainstream? Linda Xie makes a couple predictions over here .

THING TO KNOW ⛓ Infura ConsenSys AG’s Infura is also known as “The Secret Weapon of Ethereum Infrastructure.” At a very high level, Infura’s APIs help projects like Metamask, CryptoKitties, and Radar Relay connect their applications to the Ethereum network. .

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