S/O to Jake Chervinsky for this thread on why the SEC rejected all pending proposals even though final decisions for several ETFs weren't due until September 15 and 21.
IN CASE YOU MISSED IT
🇨🇳 China bans all crypto events ...and crypto media after spending $3b to fund blockchain startups. As INB's Eric Meltzer noted, "This Chinese ban on crypto events and crypto media is a complete nothingburger. China banned exchanges last year around this time, if you want a picture of how effective a media ban will be, have a look at the Chinese exchange scene."
💥 Kinit released in the App Store Last fall, the Kik messenger service launched its Kin cryptocurrency, and now it's launched Kinit app on iOS to let people earn and spend cryptocurrency inside apps.
⛔️ Dash Proposal In light of Dash's recent market performance, user "SavingPrivateDash" submitted a fevered proposal to demote Dash CEO Ryan Taylor to an advisory role. And the post's been getting traction.
🚨 We're actually giving away BTC 800 dollars worth to be exact. And you only have to submit your email to be in the running.
📖We can't all be friends: crypto and the psychology of mass movements. Tony Sheng's latest post lays out the framework for starting a mass movement and applies that same framework to the crypto communities we see forming today.
THOUGHT OF THE DAY
Opinions and observations from our readers. Have a thought you'd like to share? Reply directly to today's issue, and we'll review your submission.
"You want money to be maximally sound, and only more efficient if it doesn’t affect that soundness. Would you rather be able to send your Weimar Republic German Marks quickly and easily as they hyperinflated or would you rather store your wealth in some other currency which was more secure?
Critics would argue that the US Dollar has been both efficient and sound over the past fifty years and that’s certainly true. The question is whether or not that will continue to be the case. It is possible the same will be true in fifty years, but there is some evidence that it won’t."
Read Taylor's full post "Cryptocurrency and the turkey problem" over here.
QUESTION OF THE DAY
What will be the first decentralized app to become mainstream?