Wednesday, April 4, 2018

TokenReporter: A peek at "Stopping the bloodbath"


The Update

Last week was a bloodbath. Traditional and crypto markets took a beating and this week will probably be no better. Expect Bitcoin to settle into a nice buzz around $7,000 - a price that no many like but many of us will have to accept - and last week we discovered that Ethereum was way down because of ASIC fears - essentially the idea that Bitmain will launch an ASIC miner for Ethereum, thereby reducing the value of the currency to the casual miner. That said, if I were a betting man I’d expect the price to rise in the next few weeks as the threat of ASICs is ultimately reduced. Until then things are going to get and stay ugly. Read on to see how to stay sane.


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This week I thought I’d bring up a few points regarding the token economy and the entrepreneur. I am still certain that the token economy is the last great hope of the small business and that at some point we will be able to buy tokens in a taco truck and the taco truck-finding app that helps it grow. Further, the token economy is changing rapidly. Because many tokens aren’t directly pegged to Bitcoin or Ethereum in meaningful ways - anyone who tells you that they are (or that their crypto is pegged to the dollar) is mostly fibbing - new opportunities are appearing. First, as the SEC begins cracking down on securities tokens it pays to double down on doing them correctly. There are only so many scams you can run before someone gets pissed.

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