New & Views
• Philosopher, Author and Economist Nassim Taleb on Bitcoin as our bulwark against tyranny:
“[Bitcoin’s] mere existence is an insurance policy that will remind governments that the last object establishment could control, namely, the currency, is no longer their monopoly. This gives us, the crowd, an insurance policy against an Orwellian future.”
Addressing Bloomberg TV audiences during the annual event in Davos, Switzerland, the professor and Nobel Prize winner said that cracking down on “secret” Bitcoin use cases would “regulate it out of existence.”
“We have a good medium of exchange called the dollar. We can trade in that. Why do people want bitcoin? For secrecy,” he said.
• Coincheck, a Japanese crypto exchange was hacked for the equivalent of $530M, the largest sum ever in dollar terms. However in % of market terms, it’s no big deal compared to the 2014 MtGox hack, which was also based in Japan.
• Bitcoin’s much-discussed lighting network has entered test mode ! It’s a protocol that sits on top of Bitcoin. It allows channels of parallel transactions, and limited scripting. In other words: faster, cheaper transaction, and smart contracts which currently exist on platforms like Ethereum. In an earlier newsletter, I predicted this would happen only at the end of the year.