In this episode, we reflect on the biggest ideas and lessons learned from the past 12 months of interviewing the top names in crypto. I’m joined by Anthony "Pomp" Pompliano, co-founder at Morgan Creek Digital Assets. Hear Pomp & Clay discuss which companies might outperform Bitcoin, what we got wrong about crypto in 2018, and why debt hasn’t gotten as much attention as it should.

In this episode we discuss:

Our Sponsor - Nomics’s Cryptocurrency Market Data API

The Nomics API offers squeaky clean and normalized primary source trade data offered through fast and modern endpoints. Instead of having to integrate with several exchange APIs of varying quality, you can get everything through one screaming fast fire hose. If you found that you or your developer have to spend too much time cleaning up and maintaining datasets, instead of identifying opportunities, or if you’re tired of interpolated data and want raw primary source trades delivered simply and consistently with top-notch support in SLAs, then check us out here.

This episode is the second and final part of our series on investing in smart contract platforms. I’m joined by Katya Kovalenko, a partner at P2P Capital. We explore the pros and cons of smart contract platforms, how to evaluate them, and what the future holds.

In Part 2, We Discuss:

Our Sponsor - Nomics’s Cryptocurrency Market Data API

The Nomics API offers squeaky clean and normalized primary source trade data offered through fast and modern endpoints. Instead of having to integrate with several exchange APIs of varying quality, you can get everything through one screaming fast fire hose. If you found that you or your developer have to spend too much time cleaning up and maintaining datasets, instead of identifying opportunities, or if you’re tired of interpolated data and want raw primary source trades delivered simply and consistently with top-notch support in SLAs, then check us out here.

This is a special episode of the Flippening Podcast. The research arm of Nomics, creatively titled “Nomics Research,” will be publishing the audiobook you’re about to hear on Audible. But before we do that, we’re broadcasting it here for free.

This audiobook is a reading of Katya Kovalenko’s 10K word blog post, entitled “Investing In Smart Contract Platforms: How Developer Ecosystems, Crypto Economics, and Token Mechanics Create Value on Platforms Like Ethereum, EOS, Cardano and Tezos.” (Note: We also created an audiobook for the article Nathaniel Whittemore and I published last December, entitled “Crypto Market Cap: An In-Depth Review & Survey Of Emerging Alternatives”).

What you’re about to hear is a private investor’s take on the smart contract space and possible ways to evaluate and invest in smart contract platforms.

This audiobook is broken up into three parts:

In This Episode We Discuss

Links Relevant To This Episode:

A Note From Our Sponsor:

Need A Crypto Market Data API For Your Fund, Smart Contract, or App?

Nomics is an API-first cryptoasset market data company. Our API enables programmatic access to clean, normalized, and gapless primary source trade data across a number of cryptocurrency exchanges. Instead of having to integrate with multiple exchange APIs of varying quality, you can get everything through one screaming fast fire hose. If you’re an enterprise or fund that requires error rate, update, and accuracy guarantees along with email and phone support, then consider using the Nomics Cryptocurrency API.

This episode is the second and final part of a series on decentralized cryptocurrency exchanges. I am joined today by Alex Wearn: Co-founder and CEO of Aurora Lab. Aurora Lab is responsible for creating IDEX, the number one decentralized application on the Ethereum network.

This deep dive is broken up into 10 chapters. In episode 33 we covered chapters 1 through 4.

In this episode, Alex and I will concentrate on chapters 5 through 10.

* Chapter 5: Control and regulation
* Chapter 6: A review of the top blockchains for decentralized exchange
* Chapter 7: Sourcing liquidity
* Chapter 8: Different approaches to exchange tokens (Binance’s BNB token, for example)
* Chapter 9: A look at the organization around IDEX, Aurora DAO
* Chapter 10: The future of decentralized exchange might look like

We also discuss:

* What regulators can and can't expect IDEX to do
* IDEX’s listing policies
* How to stop phishing attacks on a decentralized exchange
* Methods for sourcing liquidity
* Accommodating (or not) maker-taker schemes and incentivization programs
* Different approaches to exchange tokens
* Token design
* IDEX Fundraising
* The size and location of Alex’s team
* The future of decentralized exchange

A Note From Our Sponsor:

Do you Need An Enterprise-Grade Crypto Market Data API For Your Fund, Smart Contract, or App?

Nomics is an API-first cryptoasset market data company. Our product is a developer tool for funds, family offices, enterprises, and fintech developers. Our API enables programmatic access to clean, normalized, and gapless primary source trade data across a number of cryptocurrency exchanges. Instead of having to integrate with multiple exchange APIs of varying quality, you can get everything through one screaming fast fire hose. If you found that you or your developer have to spend too much time cleaning up and maintaining datasets, instead of identifying opportunities, or if you’re tired of interpolated data and want raw primary source trades delivered simply and consistently with top-notch support and SLAs, then check us out here. One notable difference between Nomics’ API and competition is that the Nomics product has no rate limits.

If you’re an enterprise or fund that requires error rate, update, and accuracy guarantees along with email and phone support, then consider using the Nomics Cryptocurrency API.

Description

This is part 1 of our series on decentralized cryptocurrency exchanges. I am joined today by Alex Wearn: Co-founder and CEO of Aurora Lab. Aurora Lab is responsible for creating IDEX, the number one decentralized application on the Ethereum network.

This deep is broken up into 10 chapters:

Chapter 1: A primer on decentralized exchanges and the problems they actually solve
Chapter 2: A step-by-step walkthrough of trade execution through post-trade settlement
Chapter 3: A history of decentralized exchanges
Chapter 4: The components and attributes of a decentralized exchange
Chapter 5: Control and regulation
Chapter 6: A review of the top blockchains for decentralized exchange
Chapter 7: Sourcing liquidity
Chapter 8: Different approaches to exchange tokens (Binance's BNB token, for example)
Chapter 9: A look at the organization around IDEX, Aurora DAO
Chapter 10: The future of decentralized exchange might look like

In this episode, Alex and I will concentrate on the first five chapters.

Listen in to hear what Alex has to say about the problems that a decentralized exchange solves, the smart contract-based approach, and the history of decentralized exchanges.

In this episode we discuss:

--Decentralized exchange definitions 
--Problems solved by a decentralized exchanges 
--Types of users attracted to particular feature sets 
--Pros and cons of decentralized exchange 
--How the dollar value of funds raised through an ICO in a given month correlates with revenue
--Steps that someone new to cryptocurrency would need to take to execute a trade on IDEX
--The smart contract-based approach
--The 0x protocol
--The history and emergence of decentralized exchanges
--How to handle the collision of taker orders
--The core functions that can be unbundled from each other in the execution of trades on an exchange
--The relationship between orders and trades
--Definitions of makers and takers
--Custody of funds and how it ties into trade settlement

A Note From Our Sponsor:

Do you Need An Enterprise-Grade Crypto Market Data API For Your Fund, Smart Contract, or App?

Nomics is an API-first cryptoasset market data company. Our product is a developer tool for funds, family offices, enterprises, and fintech developers. Our API enables programmatic access to clean, normalized, and gapless primary source trade data across a number of cryptocurrency exchanges. Instead of having to integrate with multiple exchange APIs of varying quality, you can get everything through one screaming fast fire hose. If you found that you or your developer have to spend too much time cleaning up and maintaining datasets, instead of identifying opportunities, or if you’re tired of interpolated data and want raw primary source trades delivered simply and consistently with top-notch support and SLAs, then check us out here. One notable difference between Nomics’ API and competition is that the Nomics product has no rate limits.

If you’re an enterprise or fund that requires error rate, update, and accuracy guarantees along with email and phone support, then consider using the Nomics Crypto Market Data API.

Description

Today’s episode is a departure from the usual format. Instead of an interview, you’ll hear an audiobook created from a long-form article that I published with Nathaniel Whittemore a few weeks ago, entitled “Crypto Market Cap: An In-Depth Review & Survey Of Emerging Alternatives”.

The article sparked a lot of discussions, but some of the feedback suggested that the length of the article may have made the content less accessible. Listening to the article, however, provided a much different experience. What you’re going to hear on today’s show is the article read by a professional voice actor who has experience narrating Audible books. In this piece, Nathaniel and I review the following topics:

In this episode we discuss:
-Why the conversation about Market Cap matters
-The origin of Market Cap
-How Market Cap became the dominant measure of value
-How Market Cap is evaluated
-The differences between tokens and stocks, and why this matters as a critique of Market Cap
-How inflation schedules matter as a critique of Market Cap
-Why the challenges of determining what number to use for supply lead to a major critique of Market Cap
-The problem of Redemption Impact when it comes to cryptocurrency
-How a Fully Diluted Market Cap could improve on the current Market Cap system
-How using Realized Capital could provide a more accurate picture of circulating supply by removing lost, dormant, or never-activated coins.
-How The Market-Value-to-Realized Value (MVRV) could incorporate market cycle analysis into market capitalization
-The case for measuring volume and liquidity instead of market cap
-Measuring security expenses as a measure of assessing value
-Measuring community and network health as a means of assessing value

A Note From Our Sponsor:

Do you Need An Enterprise-Grade Crypto Market Data API For Your Fund, Smart Contract, or App?

Nomics is an API-first cryptoasset market data company. Our product is a developer tool for funds, family offices, enterprises, and fintech developers. Our API enables programmatic access to clean, normalized, and gapless primary source trade data across a number of cryptocurrency exchanges. Instead of having to integrate with multiple exchange APIs of varying quality, you can get everything through one screaming fast fire hose. If you found that you or your developer have to spend too much time cleaning up and maintaining datasets, instead of identifying opportunities, or if you’re tired of interpolated data and want raw primary source trades delivered simply and consistently with top-notch support and SLAs, then check us out here. One notable difference between Nomics’ API and competition is that the Nomics product has no rate limits.

If you’re an enterprise or fund that requires error rate, update, and accuracy guarantees along with email and phone support, then consider using the Nomics Crypto Market Data API.

Today’s episode is the second part of an in-depth conversation is with Kevin Zhou, head trader at Galois Capital. Galois Capital is a high-volume US-based OTC desk. Some of Kevin’s previous positions include Head of Trading at Kraken, and prior to that, Head of Trading at Buttercoin, one of the very first crypto asset companies backed by Y Combinator. Kevin has been trading crypto since 2011.

Continuing from the first part of the conversation, in this episode, you’ll learn more about how OTC desks grow their businesses and add customers, how OTC desks differentiate themselves from one another, and what sales operations, regulations, and pricing look like for an OTC desk.

A Note From Our Sponsor:

Do you Need An Enterprise-Grade Crypto Market Data API For Your Fund, Smart Contract, or App?

Nomics is an API-first cryptoasset market data company. Our product is a developer tool for funds, family offices, enterprises, and fintech developers. Our API enables programmatic access to clean, normalized, and gapless primary source trade data across a number of cryptocurrency exchanges. Instead of having to integrate with multiple exchange APIs of varying quality, you can get everything through one screaming fast fire hose. If you found that you or your developer have to spend too much time cleaning up and maintaining datasets, instead of identifying opportunities, or if you’re tired of interpolated data and want raw primary source trades delivered simply and consistently with top-notch support and SLAs, then check us out here. One notable difference between Nomics’ API and competition is that the Nomics product has no rate limits.

If you’re an enterprise or fund that requires error rate, update, and accuracy guarantees along with email and phone support, then consider using the Nomics Crypto Market Data API.

Today’s conversation is with Kevin Zhou, head trader at Galois Capital. Galois Capital is a high-volume US-based OTC desk. Some of Kevin’s previous positions include Head of Trading at Kraken, and prior to that, Head of Trading at Buttercoin, one of the very first crypto asset companies backed by Y Combinator. Kevin has been trading crypto since 2011.

In this conversation, you’ll get a behind the scenes look into how OTC desks operate and make money. The world of OTC trading can be opaque. Although the term OTC desk is often used, there’s much less talk about what happens behind the scenes at regulated high-volume desks.

A Note From Our Sponsor:

Do you Need An Enterprise-Grade Crypto Market Data API For Your Fund, Smart Contract, or App?

Nomics is an API-first cryptoasset market data company. Our product is a developer tool for funds, family offices, enterprises, and fintech developers. Our API enables programmatic access to clean, normalized, and gapless primary source trade data across a number of cryptocurrency exchanges. Instead of having to integrate with multiple exchange APIs of varying quality, you can get everything through one screaming fast fire hose. If you found that you or your developer have to spend too much time cleaning up and maintaining datasets, instead of identifying opportunities, or if you’re tired of interpolated data and want raw primary source trades delivered simply and consistently with top-notch support and SLAs, then check us out here. One notable difference between Nomics’ API and competition is that the Nomics product has no rate limits.

If you’re an enterprise or fund that requires error rate, update, and accuracy guarantees along with email and phone support, then consider using the Nomics Crypto Market Data API.

You’re about to hear is part 2 of my conversation with Sam McIngvale, who runs Coinbase Custody. 

Whereas the first part of this conversation was focused on custody, the second part of this conversation focuses more generally on the suite of institutional products that Coinbase is rolling out, including their prime brokerage offering. 

In the episode that you’re about to hear, we discuss . . .

1. An overview of Coinbase’s suite of institution product offerings
2. Why consumer products in the crypto space are optimizing for getting the greatest number of individual users, whereas institutional products are designed around
3. servicing the greatest amount of capital
4. How Coinbase Prime operates as a service layer on top of Coinbase’s products for institutional customers
5. Coinbase’s forthcoming OTC offering
6. The need for additional order types for cryptoassets
7. A discussion of Coinbase’s soon to be shuttered index fund

We also discuss how coinbase markets, which provides a shared pool of liquidity for all of Coinbase’s products…. is both an internal service provider to the rest of coinbase and a product available to market makers and high-frequency traders.

I should mention that if you want to discuss these topics or this podcast episode, feel free to join us on our telegram group at NomicsTelegram.com

Note: This Episode of Flippening is Made Possible by Nomics' free Cryptocurrency and Bitcoin API.

The Nomics API is the best free cryptocurrency and bitcoin API for programmatically accessing current and historical prices, markets and exchange rate data from exchanges like Binance, Gemini, GDAX, etc. Nomics' free (and paid) crypto exchange data API comes with dozens of endpoints, including endpoints that return sparkline, exchange rate, all-time high (ATH), and supply data. Also included are historic candle/OHLC data for cryptoasset trading pairs on exchanges like Bithumb, Binance, Bittrex, Bitfinex, Bitflyer, Gate.io, Coinbase Pro/GDAX, Gemini, HitBTC, Kraken, and Poloniex. Finally, the API’s free tier also allows fintech developers to programmatically retrieve current and historical prices of cryptoasset tokens like Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC).  Go here to get your free API key.

Today’s conversation is with Sam McIngvale who heads up Coinbase Custody.

Coinbase Custody’s clients include PolyChain Capital, Multicoin Capital (who we’ve had on this podcast, by the way), Autonomous Partners, and Walden Bridge Capital. Coinbase Custody’s mission is to make digital currency investment accessible to every eligible financial institution and hedge fund in the world.

Before Sam was running Coinbase Custody, he was VP of Engineering at Apex Clearing Corporation.

I’ve been to several crypto conferences for institutional investors and heard several unremarkable conversations about custody. This is not one of them.

Sam is on point throughout this entire interview and this conversation results in a fantastic episode that will likely leave you with much to consider.

This Episode Is Possible Due To The Generous Support of PandaAnalytics.com

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This Episode of Flippening is Made Possible by Nomics' free Cryptocurrency and Bitcoin API.

The Nomics API offers squeaky clean and normalized primary source cryptocurrency trade data offered through fast and modern endpoints. Instead of having to integrate with a bunch of exchange APIs of varying quality, you can get everything through one screaming fast firehose. check us out at Nomics.com.