Absolute must-read

Ray Dillinger, early Bitcoin code auditor, writes in LinkedIn about his view of the ICO phenomenon: …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 UK FCA (Finally) Speaks About ICOs

Huge disclaimer notice! In red! I’m an English lawyer, so I want to begin this blog post by saying that I don’t know you, I’m not your lawyer, this blog post is not legal advice, and since structuring ICOs involves navigating more minefields than a British battlecruiser in the Skagerrak during Battle of Jutland, you definitely need to get a qualified lawyer of your own before you do anything ICO-related. Period. If you have no idea what an ICO is, read this. This post is a general survey written by a lawyer for other lawyers with a view to opening…

The Bear Case for Crypto, Part III: World Computers and the Woo-Tang Clan

For those of you who follow this blog, my recent blog post, the Bear Case for Crypto, is far and away the most popular thing I’ve ever written; it’s received more hits than the entire blog did in each of 2014 and 2015, and a friend of mine in New York had his boss point it out to him at the office – unprompted, and unaware of the connection. Surprisingly, though, I haven’t heard a great deal from the trolls. Which tells me the post has hit a nerve. Part of that post deals with the “cryptocurrency” / investment scheme…