Theodore Roosevelt once observed that nothing in the world is worth doing unless it means effort, difficulty and pain. True for building the Panama Canal, and true enough for building a Web3 protocol — but only if it’s actually decentralized. Crypto has been in turmoil lately. Here a prominent stablecoin…

My thinking on stablecoins has evolved greatly since I started writing about them four years ago. …

I am not an investment professional, and have no opinion on what anyone should do with their money. I also find the speculative side of crypto to be its least interesting. That said, there are times when the value proposition of a coin is so compelling, as ETH was in…

First, let’s state the obvious: Bitcoin mining uses a lot of electricity, so it’s bad for the environment. Anyone who claims otherwise is either a salesperson or a fool. Arguing that mining is good for the environment because it encourages investment in renewables is like arguing that smoking saves lives…

Paul Krugman is the gift that keeps on giving. The popular and supposedly progressive columnist has a special talent for prophesizing things that are already demonstrably false. Back in 1998, he predicted that the internet would have no greater impact than fax machines, because “most people have nothing to say…

Here we go again. The Colonial Pipeline attack involved a ransom paid in crypto, so the usual suspects are on the attack. If you are an investor or business leader who has contemplated adopting bitcoin, you have already been bombarded with negative news headlines and internal emails telling you why…

Like most things, the undulations of the crypto markets are cyclical and meme-based. But thanks to the blockchain’s elimination of many of the frictions of the traditional financial system, the cycles happen faster. Take the simple fact that crypto markets trade 24/7, while most traditional markets do not. In any…

This post was written with significant contribution from Nir Kabessa, a true crypto punk if there ever was one. The growing boom in non-fungible tokens — digital assets that are one of one, as opposed to cryptocurrencies that are one of many — was long overdue. Applying a technology that…

Before sharing my opinion on the WallStreetBets events of last week, I want to make one thing clear: I believe strategies like the ones used to drive the price of Gamestop stock higher are reckless and dangerous. I would never participate in them. …