Brian Fabian Crain (@crainbf) on X (original) (raw)

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  My taxi driver in Istanbul is having a great time
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  The hypocrisy of the
  @GaryGensler
  and the SEC is really gross. They approve some complicated Bitcoin ETF product based on financial derivatives as opposed to much simpler products that could directly hold Bitcoin and would result in 5-10% higher returns for investors.
• 
  What a joke:
  @binance
  controls 56% of the voting power on
  @tronfoundation
  . If they split their votes across 25 nodes, they'd have 499k per node and would control 25 out of 27 validating nodes. Decentralization theater. Centralized exchanges are an existential threat for crypto.
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  I'm incredibly saddened to share that yesterday, my co-founder and closest friend Meher passed away after a long fight against leukemia. I met Meher back in 2014. At the time, he was working for Novartis, but he had a deep interest in cryptocurrencies. He was an Epicenter
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  In 2017, this industry made an inordinate amount of money. This as a liability. We have sold a wild future. But the actual utility provided by blockchains today is very small. Let's use 2018 and start closing this gap. Happy new year! And then let's get back to work quickly.
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  I wrote up a post with my thoughts on the ATOM 2.0 whitepaper. Here is the summary:
• 
  Replying to @SECGov
  What a disaster of an organization. A bunch of unaccountable bureaucrats headed by an ex-Goldman / Wall St insider ensuring that the future of finance happens outside the US.
• 
  A huge factor of
  @solana
  's success has been a very clear focus. No sharding, maximizing throughput and speed. (Tirelessly articulated by
  @toly
  .) Of course, there are issues and challenges. But the project has come a long way because it's very clear where it is going.
• 
  Replying to @crainbf
  This isn't protecting about any retail users. The SEC is harming retail investors through their decisions again and again.
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  Pretty gross. There is way too much vapid flaunting of wealth in crypto without even the pretense of creating something of value. But this is new peak idiocy. We will all pay a heavy price for this.
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  I feel sad seeing Do Kwon in handcuffs. We will probably see in the future to what extent there was fraud here vs just an experiment that went wrong. What is clear is that decentralized stablecoins are desperately needed.
• 
  That's an incredibly misguided article by
  @CoinDesk
  about the
  @cosmos
  ecosystem. Both the
  @osmosis
  and @NebularBuilders conferences were packed with amazing projects making great progress. After ETH, Cosmos is the most vibrant ecosystem in crypto. coindesk.com/tech/2023/07/2….
• 
  Replying to @crainbf
  Even though dozens such products exist around the world and have lots of usage. And even with the success of Grayscale's Bitcoin product. And the argument that there isn't enough liquidity in spot market is absurd. There is surely far more liquidity on crypto exchanges than CME
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  Maybe final point on how far off the
  @CoinDesk
  article on Cosmos has been. #3 in monthly active developers and only top ecosystem that didn't lose developers in the last year. Data from
  @ElectricCapital