The Brief for July 27, 2020

Happy Monday! Just passing along two articles, a tweet, and two videos. Enjoy your week!

  • A Chinese Yuan for Bitcoin

    • Bottom line: China’s people may avoid using digital yuan for fear of the government tracking them. If so, they’ll use cryptocurrency instead.

    • My take: China’s Blockchain-based Service Network (BSN) plans incorporate XTZ, NEO, and other public blockchains (but not BTC). The question is: will people be more or less likely to move money out of China using bitcoin now that BTC is not integrated into China’s blockchain?

    • Why we care: Chinese capital flight probably led to bitcoin’s 2015-2016 resurgence, and will play a big role in the source of inflows for this next bull run. What will happen if China’s government makes it technologically impossible for its people convert digital yuans into bitcoin?

  • Opera Browser Expands its Crypto Buying Feature in the UK

    • Bottom line: a web browser embedded a cryptocurrency wallet and exchange.

    • My take: nothing new here. First thing that come to my mind was Brave browser, because its features a native wallet and an integration with Uphold. As other platforms incorporate these features, Brave’s appeal may drop.

    • Why we care: it’s important to diversify among altcoins. The best tech doesn’t always win. Brave, of course, has an entire ecosystem built around its token, BAT, which drives value to the token. What happens when a bunch of other browsers incorporate bits and pieces of it (ahem, Google)?

Tweet chain about DAOs. I tried to negotiate with Messari for a free version of their DAO reports, to no avail. Here’s a summary of one report, in tweets:

A video about possibly shutting down this newsletter:

Also, a video to premium subscribers about the three paths for bitcoin and altseason over the next few months:

Relax and enjoy the ride!

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