Ep. 21 The Everyday Trauma of an Open Source Project Leader (w/ @Fluffy Pony)

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In this episode of The Unhashed Podcast: Colin is absent, however that doesn’t stop the rest of the crew from botching Fluffy Pony’s last name as he joins as this week’s guest. How do you pronounce it anyway? Ripple CEO Brad Garlinghouse says JPM Coin misses the point of cryptocurrencies. Is he just accidently right or is he simply trying to FUD XRP’s biggest competitor in the centralized shitcoin market? And...Fluffy Pony tells us what he thinks a sidechain is and isn’t, which makes us wonder: is it safe to say that Dogecoin is a sidechain of Litecoin? Find out the answers to these and other questions in this week’s episode of The Unhashed Podcast.

Weekly News Wrap Up (Feb 11):

  1. United States banking giant JPMorgan Chase (JPM) is launching its own cryptocurrency in a U.S. banking first, CNBC reported on Feb. 14. In a move commentators may see as unlikely, the multinational lender will use its newly developed asset, dubbed “JPM Coin,” to increase settlement efficiency, initially within three of its operations. Speaking to CNBC, Umar Farooq, who leads JPM’s blockchain focus, appeared buoyant on blockchain technology’s perspectives at the bank. “So anything that currently exists in the world, as that moves onto the blockchain, this would be the payment leg for that transaction. The applications are frankly quite endless; anything where you have a distributed ledger which involves corporations or institutions can use this.

  2. In what is perhaps my favorite news item we’ve seen yet: Ripple (XRP) CEO Brad Garlinghouse says the newly-announced digital asset from United States banking giant JPMorgan Chase “misses the point” of cryptocurrency, according to a tweet published on Feb. 14. “As predicted, banks are changing their tune on crypto. But this JPM project misses the point — introducing a closed network today is like launching AOL after Netscape’s IPO. 2 years later, and bank coins still aren’t the answer.” This in addition to words written a couple years previous: “If banks of different digital asset groups want to settle trades with one another, they’ll have to make markets between their unique digital assets or trade between their digital assets and a common fiat currency. What a mess!”

  3. SALT Lending, a company that provides for crypto-backed loans, is now in hot water with the SEC for a $50 Million ICO. This could also become a big issue for @EricVoorhees.  According the the WSJ, Eric was listed as Director (and as an “Advisor” on the ICO page) but he is barred from participating in private equity deals as a term of an earlier settlement with the SEC.  He is also listed as an inventor on a patent application submitted by SALT, although executive Jennifer Nealson said he was an “early contributor” to the firm but “no longer serves in any formal capacity.” This earlier SEC action against him, from 2014, stemmed from the equity sale of part of SatoshiDice, the early bitcoin gambling site.

  4. This was from back in January, a  Monero mining malware is now targeting cloud servers. The Threat Actor “Rocke”, uninstalls security protocol and lodges itself into several different cloud servers, including tencent and Alibaba.

    1. From security perspective, what do you think about these new versions of malware which uninstall some security features?  Is this a new evolution or just the same cat and mouse its always been?

    2. Is Monero being the top malware mined coin a badge of honor?

  5. Digital Asset Exchange tZERO was back in the news this week.  The launch, according to CoinDesk, was “off to a slow start”, with extremely low volume.  We talked about the launch in the 26 January Episode, but we wanted to circle back to talk a little bit about it with Riccardo.  As some of our listeners may already know, Riccardo and a talented team started a merge mined side chain on Monero called Tari.

ICO My God, They’re Serious:

Bitmari Smart farming contracts:

Shout Outs:

Bryan: Movie - Burn After Reading - On Netflix

Ruben: Magical Crypto Show

Mario: Andrew Poelstra on ASICs and Decentralization

Riccardo:

  1. The Cathedral and the Bazaar

  2. Call for C++ Developers for Monero - Code Reviews

  3. Call for Rust Developers for Tari dev on freenode

One Final Note:

Make sure you are storing your crypto on something secure like a Ledger and backing it up on something sturdy like a Billfodl. If you buy these items through the links above, we do take a cut of the profits but it also helps support the show - a win/win for all involved.

Colin aulds