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20
Jan

Ausbiz – Crypto sentiment becomes ‘less negative’

Daniel Pickering, Chief Investment Officer of ListedReserve, joined Asher Westropp-Evans on ausbiz to discuss the latest developments in the ‘crypto contagion that began last year. Topics include the ongoing FTX saga, shifting sentiment in the crypto and bitcoin sectors, Genesis Trading filing for bankruptcy and interesting developments in Ethereum. Watch the full show here

01
Oct

Bad week gone good

China ban #46 Bitcoin fell sharply on Friday after China announced its latest ban on cryptocurrency. While I am certain they mean business, the issue for China is they have announced a new ban every year since 2013. The headline above is from the first ban that year which caused bitcoin to “plunge more than

16
Jul

We did nothing. It’s a triumph.

Overreach There were two instances of institutional overreach this week (more later on the second).  The first was the G20, who, at the suggestion of the Americans, have “agreed” that there should be a global minimum tax rate of 15% on companies. Firstly, this is strange because no G20 country has a tax rate that

15
Jul

The Digital Corporation

It’s difficult You will have picked up over the years that people involved in bitcoin are rather anti-government. The source of this really goes to the original design of the network which anticipated that one day (or every day) governments would try to undermine bitcoin to ensure the survival of their own currencies. It was a

02
Jul

Half Time

Half Time After a disastrous first half for us with the sky falling in and all doomsayers fully validated. The results are now in. Once again. Focus on the long-term macro picture and think in four-year cycles. The lightning network Going back some years now, 2017 in fact, the Lightning network launched. Blockchains themselves are

14
May

A work of art

Elon Musk is right It makes no sense to mine bitcoin with coal. That is why almost nobody does. Coal is simply too expensive. Bitcoin miners can only operate profitably at 3 cents per kilowatt hour and less. Fully costed coal is a lot more than that, hence most bitcoin mining takes place at the bottom

07
May

Coke Heads

It was the annual gathering of Buffett sycophants last week. Tell us more Warren about how you have underperformed the market for the last 15 years etc. etc. Year after year they are asked about bitcoin and still have not come up with a coherent critique. It’s difficult to let this year’s vitriol slide though, so

30
Apr

Everything is terrible

Bitcoin has died** You didn’t really think that some computer code was going to compete to be a global asset class, did you? I mean, that was pretty stupid of you if you did. A bunch of bearded cryptography enthusiasts versus all the intellect of the world’s bankers? It was hardly a fair fight and it

26
Feb

Who would be a lender?

Square US financial services company Square reported their full year this week. Bitcoin revenue has gone from a bit of a sideshow to being the single biggest revenue item, by far. Sales grew 9x in 2020 and in their forward looking statement Square announced that in January 2021 CashApp had set a new record for monthly

29
Jan

Distressed assets

Distressed assets What would you say if I tried to sell you this company: The Basics Revenue: $3.3 trillion Enterprise value: $177 trillion Valuation: 53x revenue Revenue growth: negative Age: 244 years old Debt: at a 70 year high   Accounting irregularities The company is very well connected and uses different accounting rules to everyone