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19
Nov

23,000%

Web 1,2,3 As expected, the latest Bitcoin spot ETF was rejected by the SEC on Friday. It is nearly nine years since the first ETF application was filed by the Winklevoss brothers in 2013. At that time investor protection was front of mind and it allowed the SEC to successfully protect everyone from a 23,000%

12
Nov

Listen up, here’s the deal

Miner progress Signs of a full recovery from the China mining bans of April and May are now in sight. Looking back, they will likely be seen as a universally good thing for bitcoin. The USA is now the dominant bitcoin miner and along with Kazakhstan and Russia is among the big winners from the China exit.

05
Nov

Billionaire

Zuckaverse The reaction to Facebook’s rebrand to Meta was somewhat surprising. So many people apparently horrified that some digital panopticon might be created in which an evil billionaire megalomaniac controls the world. Where has everyone been? This already happened 10 years ago. Facebook has nearly two billion daily users and three billion per month. That

29
Oct

Safe as houses

You and your houses The bore-athon that is the discussion about house prices continues unabated in the Australian press and at BBQs across the country. Everyone with a house expressing their smug surprise, everyone without their utter despondency. It would be fair to say prices have done well in the last five years, particularly recently.

22
Oct

An offer you can’t refuse

ETF A short comment on the ETF. It went live and was successful with the second highest volume of any ETF launch ever. The team at Arcane Research declared it the most successful ETF launch ever because it had the highest “natural volume”. Meaning, if you strip out the giant pre-planned investor that normally supports

08
Oct

Mint the coin

Mint The Coin The annual debt ceiling dance is well underway in the US. It is nonsense as usual because there is zero chance that America can ever default. All their debt is denominated in dollars and they can create as many of them as they wish. Still, it’s more fun that talking about Covid,

01
Oct

Bad week gone good

China ban #46 Bitcoin fell sharply on Friday after China announced its latest ban on cryptocurrency. While I am certain they mean business, the issue for China is they have announced a new ban every year since 2013. The headline above is from the first ban that year which caused bitcoin to “plunge more than

24
Sep

We are corrupt; please follow the rules

Gensler We were treated to an interview in the Washington Post this week with SEC head Gary Gensler. He had plenty to say but reserved particular ire for stablecoins, which he likened to poker chips. The driving force behind his intervention was likely the recent Coinbase proposal for a USD stablecoin that would have attracted

17
Sep

Pork on your fork

Doublespeak One of the great examples of political spin was delivered last week by the US Director of the National Economic Council, Brian Deese. Americans are complaining about rising prices, with food inflation well into double figures. Brian was unleashed on the nation to calm nerves and set the record straight. He explained to Americans

10
Sep

Project Dunbar

El Salvador goes live Bitcoin became legal tender in El Salvador on Tuesday. It was not met with universal approval locally and you can understand why, a lot of people struggle with technology, and this really is a quantum leap for some of them. I cannot emphasise enough how important it is for the IMF