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This started as a way to avoid retyping the same ideas, 140 characters at a time. In keeping with that environment, topics were as short as possible, and informal. I did not intend to write a book, and still could not. Most of the topics (including this one) were written on my phone, on a flight, train or in a coffee shop. Many are quick observations that arise from intimate knowledge of core Bitcoin code or long self-study and experience in various disciplines.
Over time topics began to interact, a necessary taxonomy erupted, and what had been a casual process of ad-hoc observation started to become work. The topics are as short as possible and assume some knowledge of both Bitcoin and economics. I made an honest effort to rationalize relations and terminology, but my focus remains on consistency and expansion of understanding. Fortunately, others have come along to help with illustration, review and publication.
I have used the terms Catallactics and Praxeology to describe the underlying discipline. People also use the term Austrian Economics . I find each of these unsatisfying, so have started referring to the discipline as “Rational Economics” (not to be confused with economic rationalism ), a system based entirely on deductive reasoning from a set of axioms.
The second edition of Cryptoeconomics - Fundamental Principles of Bitcoin just became available as a free PDF. Top notch resource from a very talented engineer.
Bitbo is a real-time Bitcoin dashboard that allows anyone to monitor on-chain data, view live price action, and track key economic indicators - all for free.
The exploiter took out enough loans that they got a tremendous amount of cySUSD tokens, which they could use to “borrow anything from IronBank,” tweeted Igamberdiev.
So the exploiter borrowed 13,244 ETH ($23.8 million), $3.6 million in US dollar stablecoin USDC, $5.6 million in US dollar stablecoin USDT and $4.2 million in a decentralized US dollar stablecoin, DAI. That amounts to about $37 million.
According to the blockchain trail, 1000 ETH ($1.8 million) was refunded to both Alpha’s protocol and Cream Finance, and another 320 ETH ($577,238) sent to Tornado, a privacy tool for Ethereum, and more yet to repay the massive loans necessary for the attack.
The tracker even used 100 ETH to fund a Gitcoin grant on Tornado, according to “pantsme,” a pseudonymous blockchain developer. The exploiter kept about $19.9 million for themselves.
SHANGHAI, Feb 4 (Reuters) - SWIFT, the global system for financial messaging and cross-border payments, has set up a joint venture with the Chinese central bank’s digital currency research institute and clearing centre, in a sign that China is exploring global use of its planned digital yuan.
Other shareholders of the Beijing-based venture include China’s Cross-border Interbank Payment System (CIPS) and the Payment & Clearing Association of China, both supervised by the People’s Bank of China (PBOC), according to public information.
When I read the ‘Bit Short’ article, I immediately knew that the author Crypto Anonymous was not, and had never been, a serious crypto market participant. If they were a real trader with meaningful capital at risk in crypto markets, they would have known that many of the exchanges composing the CoinLib sample are not credible, and that the resultant data was thus completely unreliable. My credentials on this topic? I am the cofounder of Coin Metrics, a data business that licenses crypto market data to financial institutions, asset managers, and banks. The CM team is well aware of this exchange data quality problem, and has developed a 36-point whitelisting framework which applies quantitative and qualitative tests to exchanges to determine whether they are providing honest data.
LAS VEGAS, Jan. 25, 2021 (GLOBE NEWSWIRE) -- Marathon Patent Group, Inc. (NASDAQ:MARA) ("Marathon" or "Company"), one of the largest enterprise Bitcoin self-mining companies in North America, today announced that it has purchased 4,812.66 BTC in an aggregate purchase price of $150 million. As a result, the Company has strengthened its position as one of the only Nasdaq-listed, pure-play investment options for individuals and institutions seeking exposure to Bitcoin.
To ensure the purchase was conducted effectively, Marathon worked with NYDIG, a leading technology and financial services firm dedicated to Bitcoin. NYDIG’s trading, execution, and asset management expertise enabled Marathon to take advantage of favorable market conditions and execute the transaction as efficiently as possible.
“By purchasing $150 million worth of Bitcoin, we have accelerated the process of building Marathon into what we believe to be the de facto investment choice for individuals and institutions who are seeking exposure to this new asset class. We also believe that holding part of our Treasury reserves in Bitcoin will be a better long-term strategy than holding US Dollars, similar to other forward-thinking companies like MicroStrategy,” said Merrick Okamoto, Marathon’s chairman & CEO. “To date, we have contracted to purchase 103,060 miners, all of which are currently expected to be delivered and fully deployed by the end of the first quarter of fiscal 2022. If all miners were operational today, based on the Bitcoin network’s current difficulty rate, we would produce approximately 55-60 bitcoins per day. However, by leveraging our cash on hand to invest in Bitcoin now, we have transformed our potential to be a pure-play investment into a reality. I would like to thank the entire NYDIG team for offering their unique products and services for public companies, and for working with us to expedite this process and ensure the transaction was made on the best possible terms for our business and our shareholders.”
The world now has an open network that offers real-time, cheap, global settlement and self-clearing to the world’s first natively digital asset class. We’ve put in the work to make this network interoperable with legacy fiat. The result ties everyone on the planet together, making any payment anywhere at any time as easy as sending a text.
If I wanted to send $1,000 from Chicago, USA to Berlin, Germany, Strike is able to take my US dollars and deliver them to the intended Berlin resident in Euros instantly and at no cost. How? Let’s walk through it.
- When I initiate the $1,000 payment, Strike debits my existing USD balance.
- Strike then automatically converts my $1,000 to bitcoins ready for use in its infrastructure using its real-time automated risk management and trading infrastructure.
- Strike then moves the bitcoins across the Atlantic Ocean where it arrives in one of our many European infrastructure pieces in less than a second and for no cost.
- Strike then takes the bitcoins and automatically converts them back into Euros using its real-time automated risk management and trading infrastructure.
- Strike then credits the existing user with the Euros to their Strike account.
US Dollars to Euros in less than a second and for free. No shortcuts. Real physical value escrowed thousands of miles, in real time, and using USD and EUR at the user’s convenience.