‘Know what you own and why you own it’ Peter Lynch — President fo stock picks Fidelity Investments ( 1977–1990)

I am often asked what type of assets we hold in our fund, are they just cryptocurrencies or are they something else. This newsletter is my best attempt to answer this question.

I start by considering the characteristics and nature of traditional assets. I look at the commoditization of assets and the way in which assets have become more liquid through corporatization, unitization and securitization and how markets have grown up around these assets. …

The heading of this Government report should scare anyone who seriously understands blockchain technology and believes in democracy, freedom, privacy and liberty. The idea of a National blockchain is horrifying to me…

Anyone who has researched blockchain technology understands that it can be used as a democratising technology or as the ultimate ‘big brother’ enabler.

Some of my earlier writings on this topic are:

  1. Submission to the Australian Human Rights Commission;
  2. Submission to the Australian Treasury on the Cash Ban; and
  3. Medium post on ‘Australian National Blockchain’.

This government paper is a basically a blockchain 101 explainer that is completely silent on the very important difference between public and private blockchain and the use of cryptocurrencies. To me the report is one big ‘blockchain not bitcoin’ explainer that could have been written in 2015. …

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US Treasury Secretary Steven Mnuchin and his wife, Louise Linton hold up freshly printed USD 1 notes

I do not usually make my investor newsletter public, but given the significance of recent and unfolding events I have decided to share it on this occasion (excluding funds performance data, AUM figures and asset allocation details).

Dear Fellow Investors

I hope you and your families are well and staying safe. This is quite a special newsletter. I have re-drafted it a number of times as events have unfolded over the past 8 weeks. I have been thinking carefully about the information I want to convey to you at this extraordinary time in history.

Typically I focus just on Cryptoassets in general and on our fund in particular. I assume that readers already have copious amounts of information on the global macroeconomic situation, the status of capital markets, money supply, commodity markets, geopolitics and global humanitarian situations. …

The Nation State Arms Race for Cryptofiat


Humans change their money every century or so, (see the Bitcoin Standard and the History of Money) and such change does not typically happen with a big bang, it is more of a gradual process with the new system replacing the legacy system over decades.

For the purpose of this paper, the starting point of the existing money system is the Bretton-Woods conference in 1944. The most significant change to this system was the removal of the gold standard by President Nixon in 1971 and this led to the slow motion unravelling of the system, which we are still witnessing. The start of the new money system was the release of the Bitcoin whitepaper on 31 October 2008. So we have today the fiat (meaning ‘it shall be’) based system and a crypto (short for cryptography) based system. …

Submission to Australian Treasury Department

Introduction and Summary

My submission considers three aspects of the proposed elimination of Cash from Australian society.

1. Human Rights and the importance of Cash to freedom and liberty.

2. The exemption for ‘Digital Currency’ and Australia’s position in the world relative to the development of peer-to-peer transactional technology for asset registration.

3. The juxtaposition of the privacy of individuals and the surveillance State and surveillance capitalism.

In my readings of the Black Economy Taskforce Report (October 2017) I did not see any significant consideration of the human rights aspects of the use of Cash. Part 1 of our submission sets out the case for the use of Cash as an instrument of freedom and that as a free society we need to consider freedom as a priority because once freedoms are lost they are seldom recovered. …

This week I presented the 3rd and final free talk on Bitcoin, Cryptoassets and Blockchain.

This talk is based around the wonderfull book by Michael J. Casey and Paul Vigna — The Truth Machine. But I started with a explanation of the significant role secret writing (Code) has had on the history of humanity and for this I stole from Simon Singh’s book — The Code Book and reference the fait of Mary Queen of Scotts in 1586 when her cipher was broken and her writings were used as evidence of treason, which led to her beheading.

We then jumped to SHA 256 and hash functions. We watched a 17min video demonstration of blockchain hashing in action. This is long but I think worthwhile explanation of how blockchains work. …

In June 2019, I began a series of 3 free talks on Bitcoin, Cryptoassets and Blockchain. The objective of these talks was to engage with my local community on these topics, I hoped to widen the understandings of those interested enough to attend. This is a summary of my second talk, we covered Cryptoassets and Tokenization.

I introduced the talk referencing two videos.

  1. The US Postmaster General in 1993 responding to a question about the threat of email to their business.
  2. A brilliant explanation by Bill Tai on the impact of blockchain tech relative asset ownership and exchange.

We then recapped where we left of last week, which was the birth of Bitcoin in the context of the history of money. …

In June 2019, I began a series of 3 free talks on Bitcoin, Cryptoassets and Blockchain. The objective of these talks was to engage with my local community on these topics, I hoped to widen the understandings of those interested enough to attend.

Having been banned by Facebook for advertising the event! I decided to do it old school by simply posting up flyers on local notice boards etc. I had 30+ people, all newbees, at my first talk. I was happy with this size crowd.

I set out below my material in case anyone would like to use it and do the same. …

Submission to Australian Human Rights Commission, March 2019

I. Introduction and Executive Summary

For more than a decade now a new technology has been developing which is referred to by a number of names, including : Web 3.0; Blockchain Technology; Distributed Ledger Technology; Bitcoin and Cryptocurrencies. For the purpose of this paper I use the term Blockchain Technology (‘BT’) to cover all of these descriptives.

Over the past 2 years in particular an awareness of BT has started to break through to mainstream media, mainly due to the cryptocurrency bubble of 2017/18. That awareness has subsided since, but the development of the technology has not, indeed it is moving ahead at great speed. …

This paper forms part of Australian Treasury’s review into Initial Coin Offerings (ICOs). The Treasury invited interested parties to make submissions on any or all aspects of the issues raised in their paper by 28 February 2019.

Definitions and Token Categories

1.1. What is the clearest way to define ICOs and different categories of tokens? Drivers of the ICO Market

There is no clear way to define an ICO, but Chris Burniske in his book Cryptoassets makes a good attempt and we tend to use the nomenclature in that book.

By tokenizing ‘real world’ assets they become programmable, this exponentially multiplies the combination of properties that can be found in assets. In addition, this technology enables the fractional ownership of assets on a scale we have never before experienced. So not only will the number of assets explode, but the number of asset people own will multiply exponentially. At this time, seeking to arrive at a series of definitions which puts these new assets into boxes we understand today is like trying to categorise all the world’s animals after week one of the Cambrian explosion. …


Ian Love

Founder of the first cryptoasset investment firm in Australia, Blockchain Assets Pty Ltd. www.bca.fund. See more at http://ianlove.me

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