Nuconomist

Hello World.

One year ago, I decided to start a weekly newsletter with a goal of onchain verification and NFT gated premium content every now and then. Today...

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Weekly Wrap: 12th June - 19th June

gm While we start this week with Bitcoin and Ethereum at a similar price to last week (around $26.5k for BTC and $1750 for ETH), there was quite the rollercoaster in-between with new local lows set on Wednesday and Thursday last week at $24.7k and $1619 respectively. Things managed to climb back up, potentially helped by traditional markets faring better and the US announcing a momentary pause on interest rate hikes. The lack of new surprise lawsuits targeting crypto probably helped, for now....

Weekly Wrap: 6th June - 12th June

gm The week started with such hope as many talked about the potential for Apple to kickstart a new wave of Metaverse investments with it's announcement of the Vision Pro. People were picking up tokens from the top metaverse platforms and then the SEC entered the chat... The SEC began their week by launching enforcement actions against Binance, which kick-started a sell-off and just as the market was coming up for air, they hit Coinbase too. Whether there is substance to their claims will...

Weekly Wrap: 29th May - 6th June

gm This weeks newsletter comes a day later due to the holiday, however, that one day has given us a lot more direction. Price is sharply down this morning after the SEC began the process of suing Binance. The initial reaction was quick and to the downside. However, within their case, the SEC asserts that several of the cryptocurrencies on offer are securities including; Algorand, Axie Infinity, Binance BNB, COTI, Cosmos, Decentraland MANA, Filecoin, Sand, Solana, Polygon, and Cardano. Even ig...

Exploring Ordinals NFTS

What are Ordinals?In the most simple terms Ordinals are NFTs on Bitcoin. If you're interested in the technology behind them and why they've only just come about now, there is a good explainer available on Decrypt.How do you create Ordinals?While Ordinals are a new technology, the actual content of the NFT can be created in the same way that you would create any other digital content. For example, you might take a photograph, draw an image or render a 3D File. The biggest thing you&a...

#bitcoin#nft#ordinals

Weekly Wrap: 22nd May - 29th May

gm Well, Ledger have already started backtracking on the Recover feature discussed last week and have re-commited to open-sourcing more of their code. A welcome step for sure! It seems like Ethereum's memecoin season is mostly behind us, apart from a determined crowd that continue to throw Ether at an ape influencer named Ben that I'm hesitant to link to here. Feel free to reply to this email if you're out of the loop. At the same time, Bitcoin Ordinals appear to be here to sta...

Thoughts on the Ledger Controversy

Ledger recently announced a new service called "Recover" which is designed to help you recover your seed phrase in case of emergencies. The problem is, the method for doing this is splitting your seed into three shards and sharing them with third parties over the internet. This breaks the fundamental argument for having a hardware wallet as a cold wallet in the first place and leaves the door open for hackers to potentially use these same channels to extract the private keys from a device. Wh...

#general

Weekly Wrap: 15th May - 22nd May

gm While the price action certainly hasn't been explosive this week, the community reaction to a recent prouct release from Ledger certainly was. They announced a new service called "Recover" which is designed to help you recover your seed phrase in case of emergencies. It didn't go well at all and you can read my thoughts on it here. Other than that, today is Bitcoin Pizza day, so it's time to celebrate with a slice 🍕 It's been 13 years since one of the first real transa...

Weekly Wrap: 8th May - 15th May

gm The most exciting scary thing this week was Ethereum experiencing finalisation issues. Usually Ethereum transactions can be considered finalised within about 15 minutes, but this week it took much longer on two occasions (up to an hour). During this period transactions could potentially be reorganised. While this may not sound significant at first pass, with so much value locked in DeFi protocols, time assumptions are often baked in and things changing an hour later could potentially mean ...

A Short Guide to Memecoin Season: The Launch of $PEPE and Beyond

The unprecedented rise of $PEPE, a memecoin inspired by the Pepe the Frog meme, has taken the cryptocurrency world by storm. Reaching an astonishing $1 billion USD market cap, $PEPE has paved the way for "memecoin season," where meme-based cryptocurrencies are experiencing explosive growth and popularity.What is $PEPE?$PEPE is a memecoin based on the famous Pepe the Frog meme, which originated from Matt Furie's comic series "Boy's Club" in 2005. Despite the character's controve...

#memecoins#memecoins#pepe

Weekly Wrap: 1st May - 8th May

gm The memecoin $PEPE stole the show this week busting the $1 Billion USD market cap barrier less than a month after lauching. It truly is a spectacle what a bunch of committed degens can achieve with a dream and a coin that offers absolutely zero utility. Binance listed it under the "innovation" section. The innovation? “PEPE has no token utility or value support mechanism.” This triggered a wave of new memecoins to be spun up in a game of hot potato clogging the Ethereum network and raising...