And the Trustless nature of Bitcoin was the main thing that convinced me Satoshi wasn’t scamming. He built a highway with no toll bridge. People could use Bitcoin without creating any obligation to pay him anything ever. He wasn’t selling coins, he was giving them away for solving hashes. He reserved nothing for himself.
He wasn’t trying to line his own pockets at the expense of others. In fact I don’t think I’ve ever encountered someone so completely uninterested in personal wealth. You know the old saw about being able to get a lot done if you don’t care who gets the credit? Satoshi doesn’t want the credit. Two years later he walked away and left the pseudonym behind. And hard as this may be to believe, it looks like he doesn’t even want to be paid for it. As far as we can tell he mined approximately a million Bitcoins and has never sold a single one of them.
This article challenges that view by showing that nearly all of the technical components of bitcoin originated in the academic literature of the 1980s and ’90s (see figure 1). This is not to diminish Nakamoto’s achievement but to point out that he stood on the shoulders of giants. Indeed, by tracing the origins of the ideas in bitcoin, we can zero in on Nakamoto’s true leap of insight—the specific, complex way in which the underlying components are put together. This helps explain why bitcoin took so long to be invented. Readers already familiar with how bitcoin works may gain a deeper understanding from this historical presentation.
Interesting read for hardware startups.
15.1m active users (increasing each quarter)
3.5 billion hours of content streamed (increasing each quarter)
$11.22 average revenue per user (increasing each quarter)
293m in device revenue in 2016 (15% gross margin)
104m of platform revenue in 2016 (73% gross margin)
269m of device revenue in 2015 (17 gross margin)
49.8m of platform revenue in 2015 (82% gross margin)
$43m negative loss from operations in 2016
$37m negative loss from operations in 2015
Platform revenue is from:
Advertising sales, subscription and transaction revenue share, sales of branded channel buttons on remote controls and licensing arrangements with TV brands and service operators
Interesting analysis of how valuing of public companies is changing with an increased focus on intangible assets and decreased focus on earnings
We demonstrate empirically that the gains from predicting corporate earnings, or consensus hits and misses—an activity at the core of most investment methodologies—have been shrinking fast over the past 30 years. We identify the main reasons for this loss of earnings relevance and propose an improved alternative to current investment methodologies, one that focuses on the “strategic assets” of the enterprise and their contribution to maintaining the company’s competitive edge.
Cryptocurrencies are an emergent property of the Internet – almost a fifth protocol in the Internet suite. If Satoshi Nakomoto did not exist, it would still be necessary to invent them. Someday, they will be used by the machines in our network, on our desk, in our garage, and in our pocket to exchange value and achieve consensus at blinding speeds, anonymously, and at minimal cost.
In a bubble you stop worrying about whether there’s gonna be more money behind you. The coordination failure through time is eliminated. That’s the functional role that bubbles can play at the frontier of the innovation economy. And this is simply a-a follow on to suggest theoretically that you should expect to see in bubble conditions riskier start-ups, further out crazier ideas, ones that might require so much money to get going. “Geez we’re gonna start a new automobile company. From scratch?” That only under something resembling bubble conditions would anybody take it seriously. And then Nanda and Rhodes-Kropf went out and actually looked at the data and what they found was that going back now 15 years start-ups that were founded during the dotcom, telecom, internet bubble at the end of the 90’s had a, a bimodal distribution. It wasn’t a normal distribution. More of them failed completely. But those that succeeded, succeeded bigger. There was an actual empirical demonstration of the phenomenon of financing risk that they talked about and the coordination failure that a bubble solves.
One is Token Filings from William Mougayar (who run the Token Summit)
Second is Coindexter from Jonathan Libov (who was previously at USV)
Token Filings is more offering facts + recent news (think SEC Edgar) while Coindexter is more focused on primary research + commentary.
The SEC’s Report stems from an inquiry that the agency’s Enforcement Division launched into whether The DAO and associated entities and individuals violated federal securities laws with unregistered offers and sales of DAO Tokens in exchange for “Ether,” a virtual currency. The DAO has been described as a “crowdfunding contract” but it would not have met the requirements of the Regulation Crowdfunding exemption because, among other things, it was not a broker-dealer or a funding portal registered with the SEC and the Financial Industry Regulatory Authority.
This opinion blog post does a good job discussing the implications of this particular enforcement language:
As the report goes on, they continue to explain that ICOs that are offering investments must register with the SEC. However, they also point out that certain exemptions may apply. In some cases, if a token is not a security, but instead has an actual utility, then the ICO (Initial Coin Offering) may not have to register with the SEC since that would not necessarily be considered an “investment” or security. They have not released detailed explanations of exactly what would or wouldn’t be considered a security, but only commented on The Dao.
This blog does a good job tracking neat ARKit Demos:
Its early, but some really neat + creative projects are being built.
ARKit Interdimensional Portal: // https://www.youtube.com/watch?v=rIPfpGCxONQ
ARKit Tic Tac Toe: // https://www.youtube.com/watch?v=IBBq473vuMo
ARKit Measuring Tape: // https://www.youtube.com/watch?v=z7DYC_zbZCM