On exactitude in the non-discipline of ‘crypto-economics’, or: the Fate of Bitcoin

…In that Empire, the Art of Cartography attained such Perfection that the map of a single Province occupied the entirety of a City, and the map of the Empire, the entirety of a Province. In time, those Unconscionable Maps no longer satisfied, and the Cartographers Guilds struck a Map of the Empire whose size was that of the Empire, and which coincided point for point with it. The following Generations, who were not so fond of the Study of Cartography as their Forebears had been, saw that that vast Map was Useless, and not without some Pitilessness was it, that…

A dark knight is better than no knight at all

Great piece by Brett Scott: Thus we find Silicon Valley tech entrepreneurs brimming with optimistic expectations of disruption and future success, proclaiming the word of blockchain rebellion as a universal tool of empowerment for all, contrasting themselves to the parasitic Wall Street banker. The critical observer, though, might just take a step back, and conclude that this is really just one group of elites fighting another group of elites for control of the ramparts of power, both invoking the interests of Average Joe in the process. Read the whole thing.

A Bitcoin IPO such as Coinbase could trigger mainstream merchant adoption

Originally posted on Daily Fintech:
Warning: speculative futurology alert. An IPO today is more of a branding event run by the CMO than a funding event run by the CFO. If your venture has a lot of market traction and you want $100m, get your CFO to call a couple of funds. If you want to be on the front page and on TV for exposure that no amount of marketing budget can buy, do an IPO. The first Bitcoin venture to do an IPO could ignite the public’s imagination and that could move Bitcoin into the mainstream. Or it…