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“How Elizabeth Holmes’ noble pursuit to save lives stumbled due to technical shortcoming in the product”

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bernorange

bernorange 8359

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It is interesting to see the various projects that are being developed in the crypto sphere:

Quote

Crypto and the wider world of open-source, distributed tech has social media alternatives, too. There’s Bluesky, Blockstack, DeSo, Farcaster, Friend.Tech, Gab, Hive, Lens, Lenster, Mastodon, Minds, Mirror, NOSTR, Steemit and many, many more. There were apps that launched this year, and apps that upgraded, revamped or overhauled.

Some, like Mastodon, have seen such an influx of users that the platform is essentially unrecognizable from this time last year. Others, particularly those on a blockchain, are not quite sure if they could even scale to the hundreds of millions to billions of users that log into, post on and love Twitter, Facebook and Instagram today.

It was the year of decentralized social media. Here are a quick selection of notable moments.
...

https://www.coindesk.com/consensus-magazine/2023/12/04/the-year-of-decentralized-social-media/

 

Edited by bernorange
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bernorange

bernorange 8359

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Ethereum getting more institutional use...

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On 30 November 2023, Societe Generale issued its first digital green bond as a Security Token directly registered by SG-FORGE[1] on the Ethereum public blockchain with increased transparency and traceability on ESG data. Security tokens have been fully subscribed by two top tier institutional investors, AXA Investment Managers and Generali Investments, through a private placement.

This transaction is the first digital green bond issued by Societe Generale to leverage blockchain's differentiating functionalities. This digital format enables increased transparency and traceability as well as improved fluidity and speed in transactions and settlements.

This inaugural operation is structured as a EUR 10m senior preferred unsecured bond with a maturity of 3 years. An amount equivalent to the net proceeds of this bond will be exclusively used to finance or refinance Eligible Green Activities, as defined in the Sustainable and Positive Impact Bond framework[2] of Societe Generale. The Societe Generale group has been a recurrent issuer of Positive Impact Bonds since its inaugural issuance in the format in 2015.

This is also a first step towards using blockchain as a data repository and certification tool for issuers and investors to foster transparency on ESG and impact data on a global scale.
...

More:

https://www.societegenerale.com/en/news/press-release/first-inaugural-digital-green-bond-public-blockchain

 

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Hal Finney

Hal Finney 174

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20 hours ago, Captainant said:

Putting "green" anything on a proof of work system is pretty farcical IMO

You might think you’re making a good point, but ethereum is proof of stake. 
 

16 hours ago, B00M said:

Is this a crypto wide bull market or is it just bitcoin? If shitcoins and scandalous coins are rallying too, does that suggest this is a short lived rally for BTC? The surest sign of a BTC top is if I buy back in…

 

15 hours ago, bernorange said:

Looks to me like sector wide bull.  SEC has to rule on Ark's spot BTC ETF by Jan 10.  If it gets approved, expect the bull to run all of 2024.  If not, the bull likely gets hampered a bit.  $.02 FWIW.

Everything is up but lagging BTC

Eth is down 30% in BTC terms over the last year. 

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I own some BTC and ETH. I don't know if it will ever be anything more than digital gold, but there is something there.

That said, I don't even pretend to have any idea if it will be worth $1 or $1 million. I just know that I wanted some. Honestly wish I would have bought a little more, but if I couldn't do it at $20K, I'm not going to do it at $40K.

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bernorange

bernorange 8359

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On 11/16/2023 at 7:28 AM, bernorange said:

Blackrock/et al ETFs will be structurerd and regulated by the SEC etc.  I have not looked into the details, but the SEC has been wary of approving the applications to the point that the applications have been amended several times.  I suspect that neither Blackrock nor Coinbase is going to be able to play fast and loose with the custodial wallets.  ...

Some details on the Blackrock filing:

Quote

Asset manager BlackRock and crypto investment firm Bitwise both filed amended S1 forms with the Securities and Exchange Commission (SEC) on Monday, answering further questions likely asked by the regulator in earlier conversations.

While it is unclear what exact topics the SEC asked applicants to provide further information for, analysts had predicted that changes to the prior filings would be made following several meetings between the SEC and applicants last week. The filings signal that both parties are “working hard to iron things out,” Bloomberg Intelligence’s James Seyffart wrote on X.

Amendments by the other 11 applicants, including Fidelity, Franklin and WisdomTree, will likely follow soon, he said.
...

https://www.coindesk.com/business/2023/12/05/blackrock-bitwise-file-updated-application-for-spot-bitcoin-etf/

Quote

...
In total, the company made 21 notable amendments on Dec. 4 to address various factors related to the Trust’s structure, operations, risks, and disclosures. These changes reflect BlackRock’s efforts to enhance the robustness of its offering and provide clarity to potential investors on issues like security, valuation, regulatory compliance, and risk management.

The amendments span critical topics such as custody arrangements, valuation policies, principal market determinations, indicative pricing, fork handling procedures, liability limitations, risk disclosures, and cash management protocols. They aim to fortify security measures for private keys and Bitcoin holdings, ensure reliable and transparent valuations, streamline operational processes between key entities like the Bitcoin Custodian and Prime Broker, and delineate contingency plans for disruptive events.

Additionally, the filing provides more details on regulatory considerations in major jurisdictions like the UK and EU, underscoring the complex and shifting landscape that Bitcoin ETFs must navigate. It also includes illustrative examples of potential regulatory impacts, like the SEC’s action against Ripple’s XRP token, to demonstrate tangible consequences for the cryptocurrency space.

Through these targeted updates, BlackRock seeks to demonstrate its commitment to creating a robust, compliant, and investor-friendly Bitcoin ETF product. The additional disclosures offer clarity into the risk management philosophy and governance standards that would underpin the Trust. However, the unpredictability of new regulations and Bitcoin’s inherent volatility remain key variables for this pioneering ETF attempt.

Below is a breakdown of the 21 major changes to the BlackRock ETF filing made on Dec. 4:
...

More (details):

https://cryptoslate.com/a-complete-guide-to-all-21-major-amendments-to-blackrocks-latest-etf-filing/

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Hal Finney

Hal Finney 174

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21 hours ago, Tailgate said:

Don’t see this bull run in BTC stopping anytime soon. Likely increasing pre halving and ETFs.

#long

Agreed. 

This is front running the etf or I've heard could be the entities buying ahead of time for the etf although I'm not sure how that works. 

6 hours ago, 52-80 said:

You’ll know its the top when some people in this thread cry about it even harder

The bull top is when bitcoiners want to dunk on everyone. We're far from that. 

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bernorange

bernorange 8359

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The latest upgrade to Bitcoin Core, the primary open-source software for connecting the blockchain behind the world's largest cryptocurrency, is now live.

The v26.0 upgrade contains experimental support for the "v2" transport protocol as defined by Bitcoin Improvement Proposal 324 (BIP324), which seeks to encrypt communication between nodes reducing the risks of attacks via tampering with transactions.
...

https://www.coindesk.com/tech/2023/12/06/bitcoin-cores-v260-upgrade-aims-to-impede-eavesdropping-tampering/

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bernorange

bernorange 8359

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Ethereum appears to have some serious issues to solve:

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... some researchers and users of Ethereum, the world's second-largest blockchain, are increasingly troubled by data showing a marked increase in censorship – what appears to be a concerted effort by block builders to exclude transactions linked to entities sanctioned by the U.S. government.
...

More (long):

https://www.coindesk.com/tech/2023/12/06/ethereums-censorship-problem-is-getting-worse/

 

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bernorange

bernorange 8359

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Here's an example of Polkadot's parachain technology finding some real world use case:

Quote

A division of professional services firm Deloitte, one of the “Big Four” accounting firms, will use the Polkadot-based Kilt blockchain to offer logistics and supply-chain services focused on the shipping industry.

Ingo Rube, founder of the KILT Protocol, told CoinDesk in a fireside chat at the India Blockchain Week conference that Deloitte is working with Nexxiot, a supply-chain technology company, to offer a new type of logistics service called KYX.

KYX is a combination of Know Your Client (KYC) and Know Your Cargo – two processes that identify and verify the client's identity and their shipped goods, respectively. This system is built on the Kilt network.

"Using decentralized and open-source solutions 'Built on KILT,' any entity could create a service built on a blockchain without having to deal with cryptocurrencies or needing blockchain experience," Rube said in a statement.
...

https://www.coindesk.com/business/2023/12/07/deloitte-taps-polkadot-ecosystems-kilt-blockchain-for-digital-shipping-logistics/\

Quote

Polkadot unites and secures a growing ecosystem of specialized blockchains called parachains, forming the basis for a truly interoperable decentralized web.

KILT is building on Polkadot because it is the only technology to date that combines low fixed and definable network costs with aspects of the tamper-proof “trustless” nature of blockchain. KILT's parachain on Polkadot launched in October 2022 to leverage the bank-level security required by enterprise, and to provide KILT identity solutions to Polkadot projects.

https://www.kilt.io/ecosystem/polkadot

 

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Captainant

Captainant 27654

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2 hours ago, bernorange said:

Here's an example of Polkadot's parachain technology finding some real world use case:

https://www.coindesk.com/business/2023/12/07/deloitte-taps-polkadot-ecosystems-kilt-blockchain-for-digital-shipping-logistics/\

https://www.kilt.io/ecosystem/polkadot

 

I just don't understand the value proposition of a trustless and decentralized ledger system for supply chain management. There are not any architectural benefits to adding layers of complexity and abstraction to supply chain management - it's ultimately a matter of information assurance and access management. Both of which are substantively handled by existing systems that are far more efficient and easier to implement - while fully guaranteeing idempotent, tamper-proof, and accessible management of the information.

 

I have not yet heard a compelling technical argument for improvement by way of integrating blockchain into any record keeping system - especially ones that are already centralized by business and/or regulatory necessity.

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bernorange

bernorange 8359

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Maybe ask Nexxiot about it and get their sales spiel (I don't know the business so can't speak to the issue).  I did find Nexxiot's press release on the issue:

Quote

Introducing KYX (combining Know Your Client with Know Your Cargo) by Deloitte, powered by Nexxiot. Deloitte, known for its comprehensive range of services, including audit, consulting, financial advisory, risk management, tax, and legal services, is joining forces with Nexxiot, known for its expertise in digitizing supply chain assets, such as shipping containers and railcars. Nexxiot’s network of sensors and artificial intelligence capabilities offer valuable insights into supply chain inefficiencies, reducing uncertainty and operational costs. Deloitte will play a crucial role as the integration partner responsible for delivering these digital transformations. 

This strategic partnership will provide a robust, scalable infrastructure rooted in a strong commitment to regulatory excellence and trust. It leverages Deloitte’s established KYC (Know Your Client) services and implementation capabilities with Nexxiot’s cutting-edge asset intelligence technology and trusted CINFONI (Client Information Network Intelligence) platform. CINFONI has regulatory approval for generating, implementing, recycling, and exchanging ‘Golden Records’ within the Banking, Financial Services, and Insurance (BFSI) sectors. 

Nexxiot CEO, Stefan Kalmund, said, “The strategic partnership with Deloitte and Nexxiot represents a significant step forward for supply chain participants. It will accelerate the adoption of fleet-wide technologies, fostering visibility, transparency, and operational excellence.” 

Deloitte’s James Yearsley, Lead Partner for the Transportation, Hospitality and Services Sector for NSE (North & South Europe), added, “Through this partnership, we aim to set a new global standard for KYX services, benefitting all stakeholders in the logistics sector, including trade finance, banking, and insurance. Deloitte and Nexxiot offer new services based on real-time data, covering all aspects of KYX from door-to-door, internationally.” 

Deloitte and Nexxiot are committed to enhancing global trade compliance and operational efficiency through this partnership. It offers the logistics industry a means to embrace a future marked by improved efficiency, resilience, and integrity, all made possible by this strategic collaboration. 

https://nexxiot.com/newsroom/deloitte-and-nexxiot-announce-strategic-kyx-partnership-for-logistics/

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Hal Finney

Hal Finney 174

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1 hour ago, Captainant said:

I just don't understand the value proposition of a trustless and decentralized ledger system for supply chain management. There are not any architectural benefits to adding layers of complexity and abstraction to supply chain management - it's ultimately a matter of information assurance and access management. Both of which are substantively handled by existing systems that are far more efficient and easier to implement - while fully guaranteeing idempotent, tamper-proof, and accessible management of the information.

 

I have not yet heard a compelling technical argument for improvement by way of integrating blockchain into any record keeping system - especially ones that are already centralized by business and/or regulatory necessity.

 

For once, we agree. 

 

21 hours ago, bernorange said:

Ethereum appears to have some serious issues to solve:

More (long):

https://www.coindesk.com/tech/2023/12/06/ethereums-censorship-problem-is-getting-worse/

 

Proof of Stake is a poor path to choose if you want decentralization and censorship resistance. All in the name of being environmentally friendly or "green". The bad news is people that use that criticism against BTC for example don't really GAF about that and will find something else to use against Eth and its proponents. You're really better off not caving an inch to the people resisting. 

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bernorange

bernorange 8359

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...
Banks are becoming more positive about using crypto technologies such as programmable ledgers and smart contracts for the tokenization of money and real-world assets (RWA), the central bank said in the biannual report published Wednesday.

Tokenization, the process of issuing a digital representation of an asset, is a growing part of the crypto ecosystem and is forecast to become a $10 trillion market by 2030, according to asset management company 21.co. Last month, HSBC, one of the world's largest banks, said it plans to start a digital-assets custody service for institutional clients focusing on tokenized securities. Earlier this week, Societe Generale, one of France's largest banks sold 10 million euros ($10.8 million of tokenized green bonds on the Ethereum blockchain. And Archax, a U.K. registered crypto exchange, is planning on releasing an exchange for tokenized assets.
...

https://www.coindesk.com/policy/2023/12/07/asset-tokenization-on-blockchains-could-increase-systemic-risks-boe/

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Thetexashammer

Thetexashammer 1062

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2 hours ago, StassneyHorn said:

A country telling reporters to suck their dick over an unrealized gain of 3.6 million is funny.

”We have a beach house in Santa Monica!”

He's a politician, so low expectations. They already use the dollar anyway.

However, if Argentina switches to Bitcoin, that would be remarkable. Lightning has to get fully developed first. But taking power away from corrupt governments would do wonders for South America.

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gyroprotagonist

gyroprotagonist 2592

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no one really thinks utility or feature set or scalability has anything to do with the pricing, right (talking about alt coins here)?  we are just trying to read the whale tea leaves and make some money in their wake.  at least that's my take on it.  World events, new stories, EFT chatter are the bandaids to help manipulate the markets.  Whales just liquidated a TON of leveraged longs with this plunge down from recent highs.  not sure how much tether they still have liquid to keep the momentum going, but overall i think a bull run is starting where holding coins longish term will make sense.

Been riding one called INJ for a while now along with some SOL exposure.  I still remember my stop loss hitting on SOL back in the day around 90 and liquidating my position.  amazing that it could come back from the dead like this.  there is now a ton of chatter about SOL NFTs and that volume will spike up and surpass ETH based NFTs every now and then.  i need to go through my old Phantom wallets and see how much loose SOL is still there.

 

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bernorange

bernorange 8359

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Posted
16 minutes ago, gyroprotagonist said:

no one really thinks utility or feature set or scalability has anything to do with the pricing, right (talking about alt coins here)?  ...

For sure, the entire crypto space generally moves as the whales play Bitcoin and Ethereum.  But lately there are signs that some of the larger market cap alts are starting to find independent footing.  Avalanche and Chainlink are both making serious moves with big institutional players (and their token values have outperformed lately).  There are also some interesting projects happening on Polkadot's parachain tech though it's token has not quite caught the same fire as others (yet?).  I have no idea why Cardano has appreciated so strongly over the last week or so.  I try to keep tabs on news highlights for these things, but the space is too vast and moves to fast to keep on top of everything. 

Solana has a lot of developer attention and excitement and is recuperating from FTX shock IMO.  Time will tell if SOL's recent moves are just a post-FTX equilibrium or the start of something more significant.

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Thetexashammer

Thetexashammer 1062

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On 12/11/2023 at 9:48 PM, bernorange said:

For sure, the entire crypto space generally moves as the whales play Bitcoin and Ethereum.  But lately there are signs that some of the larger market cap alts are starting to find independent footing.  Avalanche and Chainlink are both making serious moves with big institutional players (and their token values have outperformed lately).  There are also some interesting projects happening on Polkadot's parachain tech though it's token has not quite caught the same fire as others (yet?).  I have no idea why Cardano has appreciated so strongly over the last week or so.  I try to keep tabs on news highlights for these things, but the space is too vast and moves to fast to keep on top of everything. 

Solana has a lot of developer attention and excitement and is recuperating from FTX shock IMO.  Time will tell if SOL's recent moves are just a post-FTX equilibrium or the start of something more significant.

Ali coins make me think of the old joke about "I wouldn't fuck her with your dick". YMMV.

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Hal Finney

Hal Finney 174

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Pretty bullish on the price after watching this. $1T in ETFs globally. If 1% of that is passively allocated into BTC etfs that’s $100B slowly over the course of a year.  At the current price of 40k that’s 2.5 million BTC. There’s not that many sellers out there. Price will have to go substantially higher. 
 

 

ETF is so bullish for the price that I wonder how they can let it happen, honestly.  Still possibility of some fuckery.

 

 

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Hal Finney

Hal Finney 174

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On 12/3/2023 at 4:44 PM, Goliad said:

Nocoiners will cope and seethe instead of trying to figure out what they’re missing, to their detriment. 


 

1 hour ago, Captainant said:

Yeah the fresh injection of new money will definitely keep the music going for another cycle or two. North Korea is one of the biggest winners with the potential BTC price moonshot 

Don’t forget Russia, Hamas, Iran and so on! 
 

Yawn
 

Never mind that USD cash money homie supports the most illicit activity around the world. 

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Thetexashammer

Thetexashammer 1062

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19 hours ago, Hal Finney said:

Pretty bullish on the price after watching this. $1T in ETFs globally. If 1% of that is passively allocated into BTC etfs that’s $100B slowly over the course of a year.  At the current price of 40k that’s 2.5 million BTC. There’s not that many sellers out there. Price will have to go substantially higher. 
 

 

ETF is so bullish for the price that I wonder how they can let it happen, honestly.  Still possibility of some fuckery.

 

 

image.png.a5318a0a5ff1b5f14ca6c2911282f397.png

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bernorange

bernorange 8359

Posted
Posted (edited)
23 hours ago, Hal Finney said:

Pretty bullish on the price after watching this. $1T in ETFs globally. If 1% of that is passively allocated into BTC etfs that’s $100B slowly over the course of a year.  At the current price of 40k that’s 2.5 million BTC. There’s not that many sellers out there. Price will have to go substantially higher.  ...

Current market cap for Bitcoin is ~$800B.  You can see from interactive chart here (set to 1yr and toggle between market cap and price):

https://coinmarketcap.com/currencies/bitcoin/

that BTC price has a strong correlation with market cap.  One month ago, on November 17, BTC market cap was $715B and price was $36.6K.  Today, market cap is $820B ($100B increase) and price is $41.6K.

Edited by bernorange
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bernorange

bernorange 8359

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BlackRock (BLK.N) has updated its proposed filing for a spot bitcoin exchange-traded fund (ETF) to allow cash redemptions, in a move which could help it secure an approval from the U.S. Securities and Exchange Commission.
...
"The Trust issues and redeems baskets on a continuous basis. These transactions will take place in exchange for cash. Subject to the in-kind regulatory approval, these transactions may also take place in exchange for bitcoin," BlackRock's iShares Bitcoin Trust ETF said in a regulatory filing late on Monday.
...

https://www.reuters.com/business/finance/blackrock-updates-spot-bitcoin-etf-proposal-allow-cash-redemptions-2023-12-19/?source=pmbug.com

 

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Hal Finney

Hal Finney 174

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Posted
58 minutes ago, Captainant said:

lulz are yall just reposting shit from the twitter replies on GRUhorn's tweets? I swear, there's a weird hivemind of rhetoric from the crypto space

what are you going about? what is the hivemind saying?

 

1 hour ago, bernorange said:

Warren is a dishonest actor.

yep. 

Champion of the little guy, pushing legislation written by bankers. lol

 

 

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