I am a huge boxing fan, and as such, I am required to say that, notwithstanding his conduct outside the ring, Floyd Mayweather was a genius inside one. A defensive virtuoso par excellence, Floyd was (not is) the greatest pure boxer since Willie Pep (yes better than Pernell Whitaker). He might have been better than Pep too, and legend has it that Pep once won a round without throwing a punch, which hardly seems possible.
Investment advice, not so much. The ICO (Centra) publicly endorsed by Floyd has been charged with “orchestrating a fraudulent initial coin offering.” Both founders have been arrested on separate criminal charges. They will have to win rounds while punching. We will have more on this matter in our next post.
EHRs and Use-Cases and Shameless Plugs
Aetna’s chief medical officer posted a terrific article on the ability of distributed ledgers to change the way our personal medical information is stored. He writes “EHRs were supposed to solve this problem, but over a decade into the concerted and well-intentioned push to utilize them, many of even their most ardent supporters are expressing exasperation, if not conceding defeat. Recent studies have shown as much as 70 percent of practitioners have described their EHR efforts as not worth the investment.” Indeed. This is one of the more exciting “identity” use-cases I’ve heard.
In a totally unrelated aside, I am presenting on a similar topic at the National Blue Cross Blue Shield Summit in Orlando on May 3. Please do come and see me if you are in the area (or sign up for the newsletter and contact me directly).
The Taxman Cometh
Is “tax selling” a real thing? Ryan Selkis thinks so. The prolific and talented blogger, author of the classic 95 Cyrpto Theses, warned everyone to stay out of crypto until April 15. It looks like there is a thesis working its way through Twitter that folks are selling to alleviate their tax burden, or to pay taxes on gains.
Monero May Be Searchable
Monero has posted a response to suggestions by reputable cryptographers that some of its ring-signature (and ring confidential transaction) encryption is vulnerable to attack.
Monero is a so-called “privacy currency” because it offers both senders and receivers theoretically absolute anonymity. By contrast, Bitcoin accounts are public and static, so if you ever associate yourself with your account, it’s not anonymous. For this reason, Bitcoin is often labelled pseudo anonymous. Monero (and apparently Zcash) are the real deal because everything is encrypted and ever-changing, or at least it is supposed to be.
Monero has responded, suggesting that any problem is fixed, and that everything henceforth is perfectly private (not that that matters). Worth note here is the response’s references to transactions on AlphaBay, the since-shuttered darknet market. Monero of course makes the necessary lamentations concerning its use in illicit transactions.
GDPR Hits Mainstream Press
Apparently the GDPR is keeping people besides me up at night. Tech giants are rightly concerned about compliance with the new law. In the article, the EU’s consumer protection chief sounded an ominous tone, offering on the record “in my view this is not only about data protection [from] breaches, this is about a threat to democracy and individual freedoms.” Not good if you are Facebook.
Crypto Hedge Funds Go Belly-Up
According to Bloomberg, cryptocurrency hedge funds are dying like late June fishflies in east Detroit: as quickly as they are born. The article cites nine funds shuttered since the beginning of the year. This seems low. But then again, how many have been started? My view (not legal or investment advice) is that is too early to be an expert in these asset classes. You believe in the idea long term, or you do not. Either view has merit, and one is wrong.
Technical Analysis: Horoscope or Seems Legit?
Speaking of which, I am fortunate enough to meet with friends, colleagues, entrepreneurs and total strangers at a monthly breakfast organized by my friend. I find this meeting ever valuable because it has the three main features of a terrific meeting: (i) there is a clear objective; (ii) everyone is able to contribute something valuable and unique (and as such you are guaranteed to learn something); and (iii) I am, generally, the least-smart person at this meeting. If there’s a fourth, it’s free food. Alas, I’ve paid for my meal every time.
There were two clear camps at our last meeting. One in favor of the validity of technical analysis in predicting price movements for cryptoassets, and the other, mine, which regarded technical analysis as a horoscope without the drama or astronomical precision. I offer only this link, which predicted Bitcoin’s late rise but not today’s crash. What do you think? Does technical analysis or “TA” have value in this world? The comments are there for this.
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