Lock Up Your Lucre, the Best Democracy Bitcoins Can Buy, and Liquid Asset Conversion
Welcome to the CoinDesk Weekly Review 15th November 2013 - a regular look at the hottest, most controversial and thought-provoking events in the world of digital currency through the eyes of skepticism and wonder. Your host ... John Law. Why rob banks? It's where the money is. It seems it was only last week that bitcoin was trading at $250. Oh, wait - it was. Now at over $400, bubblephobia is growing apace - although the price clearly has a way to go if the flood of tweets saying "Hey, I just bought bitcoin!" is any indication. With that sort of week-on-week growth, who wouldn't want to....
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Coinbase’s new institutional-focused staking product won’t be a “near-term phenomenon” while liquid staking is still being worked out. Institutional staking of crypto assets, including the post-Merge Ethereum, could become a “phenomenon” in the future, but not while their assets still need to be “locked up.”Speaking during a Q2 earnings call on Tuesday, chief financial officer Alesia Haas noted that she didn’t expect their new exclusive institutional staking service, rolled out in Q2, to be a “near-term phenomenon” until a “truly liquid staking option” is available:“This is the first time....
In the world of Web3, we will participate in collective decision-making through liquid democracy powered by crypto assets and smart contracts. Power historically shifts from governments to people. Democracy is the product of revolution and disruptive innovation by those who abhor the elitism of aristocracy and monarchy, who fear the single-mindedness of theocracy, and who see the impracticability of communism. More than ever before, governments represent fairer and more trustless social contracts. How do we merge the rule of law with “code is law,” and can we have both?As we behold the....
Staking is complicated, but learning the truth behind these four myths will help to increase liquid staking mass adoption. Blockchains have relied on proof-of-work (PoW) validation since their inception. Yet the PoW consensus proved to be unsustainable with its high energy usage and its need for fast, powerful hardware creating high barriers to entry. That’s why blockchains are adopting proof-of-stake consensus algorithms (PoS), where those wanting to earn rewards don’t have to compete against other miners, but can simply stake part of their crypto for a chance to be chosen to be a....
Democracy is antithetical to the fundamentals of private property rights and, therefore, the functional, fair organization of society.
In 2017, high-flying bitcoiners attempted to foment democracy in Venezuela by airdropping crypto and paper wallets. What did we learn from these experiments?