Bitcoin Creeps On $12k, Draining Alts?

Plus the whole Kik vs. SEC thing ends in a whimper

Happy Tuesday, Blockfolians!

The Lede

Thumbs everywhere are exhausted from refreshing Blockfolio as Bitcoin has spent all day inches away from $12,000 - briefly touching the psychological milestone before dipping back.

Alts or BTC? Bitcoin Price Predictions- Which Is best To Buy In 2018? My  Strategy - YouTube

Just as interesting as bitcoin’s price action, however, is the discussion of its impact on alts and DeFi. Take a look at some reflective tweets:

For the moment, bitcoin is stuck just below $12,000. Whether bitcoin gains in the short term come at the expense of alts will be something to watch.

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Highly Relevant Reading

Community Commentary

A great conversation between Keith McCullough and the GigaChad himself
Fascinating piece on the “financialization of compute & connectivity.”

A Really Big Number We Should Be Paying Attention To


That’s the proposed settlement around KIK vs. the SEC. What a whole lot of wind this ended up being.

Final Thought

“The ultimate tragedy of the commons”