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Jason Choi Profile picture
@mrjasonchoi
Jun 18, 2018 • 4 tweets • 1 min read Twitter logo Read on Twitter
0/ Exciting insights from chats with VCs at Blockchain Economic Forum #BEF2018:
1/ VCs want in on blockchain, but utility tokens/ cryptocurrencies offer no guarantee of rights. Blockchain startups raising traditional equity provide exposure to the growth of blockchain in a much more attractive format to VCs.
2) Very, very hard for "traditional" VC to have a wholesome crypto strategy unless it has a dedicated arm for crypto with full-time analysts. (VC) fund of (crypto) funds alternative is becoming more attractive.
3/ Some believe generalist funds will be rendered obsolete as ICOs with formalized equity rights emerge. Only VCs that provide specific know-how (e.g. subject matter expertise, cross-border connections) can survive.

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More from @mrjasonchoi

Jason Choi Profile picture
Aug 23, 2018
Understanding blockchain technical scaling with <20 min videos (a thread) 🤔
0/ If you're having lunch/dinner/on the 🚽, here are some short vids to break down blockchain scaling from the best that you can bookmark.

Some of these vids are highly unappreciated, with ~100 views. Also good at 1.5x speed.
1/ First, a 20-min clear explanation of what the "scalability" challenge actually is by @thatBano:

Read 12 tweets
Jason Choi Profile picture
Aug 5, 2018
Plenty of exciting stuff in crypto in Asia goes overlooked in the US.

Here are some updates this week from #Asia in #crypto amidst a bear market:
From the Philippines 🇵🇭:

SEC is looking to define all tokens as securities by default. Earlier, it also deemed crypto cloud mining contracts as securities. This increases false positives (non-securities deemed as securities).

Source: sec.gov.ph/wp-content/upl…
From Hong Kong 🇭🇰:

A bike-sharing startup has sold its majority stake in exchange for crypto. It will use its tokens to reward renters and promote bike usage. Convincing HK users to use bikes AND set up crypto wallets...hmm 🤔

scmp.com/business/compa…
Read 7 tweets
Jason Choi Profile picture
Jul 25, 2018
Using in-browser wallets (e.g. @metamask_io) may compromise your privacy significantly. /0
Advertisers can profile you as an eth user, and sites on all opened tabs can detect when you unlock your wallet and provide phishing prompt.

Here's a detailed post from @backus of @Bloom a while back on the subject: blog.hellobloom.io/using-an-in-br… /1
So, what can we do?

Using a different browser than your main one for eth transactions through an in-browser wallet (or using another browser profile) is a viable workaround. /2
Read 4 tweets
Jason Choi Profile picture
Jul 24, 2018
How do we stop money-laundering, drug- and terrorism-financing in bitcoin?

Committee responses at the recent Oversight of New Assets in the Digital Age public hearing:
"Trust FinCen to do their jobs." - @JoshFairfield of @wlulaw
"Rely on other law enforcement mechanisms that work around strong cryptography." - @AmberBaldet of @GrowClovyr
Read 8 tweets
Jason Choi Profile picture
Jul 9, 2018
Takeaways from 4 months of interviewing crypto investors (a thread):

Full summary episode: itunes.apple.com/us/podcast/les…
"Providing exposure" alone is not a defensible strategy for funds.

Fund managers have to take care of events with no public market analogues for traditional investors (e.g. custodianship, airdrops, staking, hard forks) too.

- from ep with @HHorsley of @BitwiseInvest
"Perfect" cryptoassets don't exist.

Investors need to bet on assets with local maxima of value and evaluate trade offs between censorship resistance, expressivity, throughput, latency, scalability, governance, privacy etc.

- from ep with @KyleSamani of @multicoincap
Read 12 tweets
Jason Choi Profile picture
Jul 9, 2018
Privacy is a not a good selling point for cryptocurrencies (compared to speed, low fees, security, decentralization etc), because:

1) Most people seem to value convenience over privacy

2) Public tolerance for forfeiting some privacy is high

/0
Payment solutions are sticky.

As long as existing alternatives provide easier user experience (e.g. Venmo, Paypal), educating the public about the importance of fungibility and privacy in crypto won't be enough to promote mass adoption of privacy coins

/1
Privacy is not binary.

Most people understand the value of day-to-day financial privacy from unknown parties (creepy stalkers), but are ok with a recognized company knowing their transaction histories (e.g. private transactions on Venmo). For most, Monero is an overkill.

/2
Read 5 tweets

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