The founder of IOTA speaks on Medium

The founder of IOTA speaks on Medium about his departure from the Foundation

  • The founder of IOTA, David Sønstebø, was dismissed on 10 December.
  • He published an article on the subject on 26 December on Medium.
  • In it he argues that the consequences of the separation were inevitable.

IOTA founder David Sønstebø broke his silence on the issue of his departure on 26 December.

Sønstebø has issued a statement on Medium. In the message, he gave his side of the story about his departure from the Foundation and left public messages for the other members of the IOTA Foundation board.
Technically happy

As far as the public was concerned, IOTA was moving in a positive direction at the end of 2020. In December, the company formed a partnership Immediate Bitcoin on environmental sustainability solutions. On November 30, the platform announced its next generation portfolio, Firefly. In addition, the IOTA 1.5 public test network, called Chrysalis, went online. Behind the scenes, tension was mounting.

The beginning of the end

The first official indication that something was wrong came in the form of a short article on the blog of the IOTA Foundation (IF). In the message, the board of directors and the supervisory board stated that their interests and those of Sønstebø had „considerably diverged“. They thanked him for setting up the entity they were running and wished him entrepreneurial success.

However, on 12 December, an addendum appeared on the blog. The foundation reminded readers that „IOTA is not about one individual“. At the same time, the foundation emphasised the role that David Sønstebø played in the foundation and initial construction of the solution. They also wrote that his departure „changes absolutely nothing“ regarding the strategy and delivery of Chrysalis and Coordicide.

Sønstebø’s response

On 26 December, Sønstebø published his version of the facts about his departure. He first explains that he remained silent at first in order to continue the release of Chrysalis.

Sønstebø claims that what led him to write his article was the inevitable mess created by the IOTA Foundation. His departure, he writes, could have been co-ordinated between him and IF in order to stifle discussions.

Rather than chronicling an „eye for an eye“ attack, Sønstebø points out three salient elements of the development of the project that led to his departure. He focuses on the maturation of the project and the need for a separate CEO/COO. He then focuses on the finances (especially in 2020) and his repeated suggestion to liquidate the foundation in order to keep the IOTA project itself independent of the markets. He also stresses that the suggestion to liquidate was not due to financial problems at the IOTA Foundation. Finally, he describes a panicked board of directors seeing a possible benefit – the creation of new services – slipping through their fingers. According to him, as the founder, they never had this possibility in the first place.

After explaining his side of the story, Sønstebø has farewell words for each member of the board of directors and the supervisory board. For some he has good memories, for others a scathing criticism. And for one: „And M#!DE.“

Bitcoin is ‚more a religion than a solution,‘ according to billionaire Mark Cuban

„No matter how much BTC fans want to pretend it’s a protection against apocalyptic scenarios, it’s not.

The billionaire who once said that bananas are a better medium of exchange than Bitcoin is asserting his view that crypto is more of a collectible financial asset than a reliable one.

Bitcoin Over $20,000: Bullish and Bullish

2020 has been a great year in terms of institutional adoption of Bitcoin (BTC). Companies such as MicroStrategy and Grayscale significantly increased their holdings of cryptomoney, while individuals associated with traditional finance (such as CNBC’s Jim Cramer) found themselves changing their minds about owning cryptomoney. Still, the asset has its detractors.

In a Dec. 8 interview with Forbes, Dallas Mavericks owner Mark Cuban said that cryptomoney users should not look to Crypto Bull as a protection against apocalyptic scenarios. He also believes that crypto is unlikely to replace fiat currency in the short term.

Bitcoin is a „convex bet,“ says the CEO of an institution with $600 million exposure to BTC

„Bitcoin is] a reserve of value like gold that is more a religion than a solution to any problem,“ Cuban said. „Countries will take measures to protect their currencies and their ability to collect taxes, so the more people believe that this is more than just a store of value, the more risk they face of government intervention.

Cuban’s comments came when Bitcoin’s price was below $19,000. Since then, the asset has reached new all-time highs, topping $20,000 for the first time in history and trading above $23,000 by the time this story is published.

UK Investment Manager Shifts Focus from Gold to Bitcoin in „Defensive Move

The billionaire claimed that commodities such as bananas offered more benefits than Bitcoin, but still recognized it as an „investment asset:

„A banana is more useful, potassium is a valuable nutrient for all the people on the planet, but as long as people accept BTC as a digital version of gold, it can be invested.

Peter Schiff will start buying Bitcoin when its price reaches $50,000, according to Max Keizer

Mark Cuban has an estimated net worth of $4.2 billion. He claimed to own approximately $130 in Bitcoin in August 2019 from the purchase of tickets and merchandise from the franchise. Since BTC’s price remained below $12,000 that month, Cuban’s cryptoactives could easily have doubled if he still had them.

Melon Protocol’s renowned Enzyme Finance, the MLN token gained 960% in 2020

Melon Protocol will launch version 2, renamed Enzyme Finance.

It promises new features, speed and cost-saving features.

The MLN token has skyrocketed in 2020, beating the majority of its DeFi comrades

Melon, the decentralized on-chain asset management protocol, is in the process of renaming itself on a theme closer to DeFi , called Enzyme Finance. Its MLN token was one of the top performers in 2020.

In short, Melon Pro allows individuals or organizations to manage their wealth and that of third parties on a decentralized asset management platform. It was founded in 2015 according to his blog post, and was named Melon from the Greek word meaning future, due to his ambitions at the time.

The Bitcoin Revolution software behind the fund management platform is now renamed Enzyme Finance. This name was chosen as a metaphor for how enzymes catalyze reactions while being made of related components.

They’re associated with speed, processing, simplicity, and fundamentals, whatever we want Enzyme to be. A fundamental infrastructure layer for the asset management industry.

The rebranding process from Melon to Enzyme Finance has started!

This, along with the upcoming v2 launch, marks a new chapter in Rocket on-chain asset management.

La version 2 d’Enzyme

It will be a gradual rebranding over the next four to six weeks, the statement added. The platform is currently being redesigned and will be relaunched with Enzyme v2. Enzyme Finance will be powered by existing MLN tokens but there will be no migration of these despite a change of logo.

The launch of version 2 is scheduled for the end of this year but no concrete date has yet been announced. It will bring a number of feature updates and a rework to the tokenomics. Some of the expected features include a much larger token base that users will be able to interact with, interaction with lending protocols and yield culture, and the ability to interact with pools of automated market makers ( automated market maker or AMM).

It will also be possible to convert funds into other currencies and stablecoin , speed up transactions and lower fees, and pool cash for transactions.

MicroStrategy quiere ofrecer 400 millones de dólares en bonos convertibles para comprar más Bitcoin

MicroStrategy anunció la propuesta de una oferta privada de 400 millones de dólares de senior notes convertibles, con la intención de comprar aún más Bitcoin (BTC)

MicroStrategy está acaparando MUCHO Bitcoin, y viene a por más. La corporación acaba de revelar que está buscando financiación para adquirir un alijo adicional de Bitcoin.

La compañía compartió la información en un anuncio oficial en su página web el 7 de diciembre de 2020. Según el comunicado de prensa, MicroStrategy estaría contemplando una oferta privada de 400 millones de dólares en senior notes convertibles, con la idea de aumentar sus reservas de Bitcoin:

MicroStrategy tiene la intención de invertir los ingresos netos de la venta de las notas en Bitcoin Trader de acuerdo con su Política de Reserva del Tesoro hasta que se identifiquen las necesidades de capital de trabajo y otros propósitos corporativos generales.

MicroStrategy está buscando formas de conseguir más Bitcoin

Los bonos convertibles son pagarés que, además de representar una deuda, pueden utilizarse para fines adicionales como inversiones, compras y comercios. La diferencia entre los pagarés convertibles y los pagarés a la vainilla es que los titulares pueden recibir beneficios adicionales como un tipo de interés y la pignoración de la garantía subyacente (si procede)

Los billetes de MicroStrategy vencerán en diciembre de 2025 y la empresa podrá comprarlos en efectivo en diciembre de 2023. Los tenedores de las notas recibirán intereses dos veces al año, el 15 de junio y el 15 de diciembre de cada año, a partir del 15 de junio de 2021.

El anuncio llega sólo dos días después de que MicroStrategy comprara 50 millones de dólares en Bitcoin a un precio aproximado de 19.427 dólares por token, para un total de 2574 BTC. Además, este anuncio sigue a dos compras de casi 500 millones de dólares unos meses antes.

La compañía tiene actualmente 40.824 bitcoins bajo gestión. Para poner las cosas en contexto, esa cantidad representa casi el 0,2% de todos los bitcoins que han existido alguna vez, el 0,22% del total de bitcoins en circulación hoy en día, y casi el 0,3% del total de bitcoins disponibles – excluyendo los que se pierden para siempre según las estimaciones de Unchained Capital en 2018.

¿Cuánto tiempo puede durar el „efecto microestrategia“?

Aunque es arriesgado, el movimiento representaría un fuerte respaldo a la naturaleza de Bitcoin como una inversión rentable. Las decisiones de MicroStrategy han aumentado su valor en casi un 100%, causando un efecto similar en el precio de Bitcoin.

¿Pero cuánto tiempo puede durar esta simbiosis? Un accidente como el que ocurrió en 2018 podría traer graves problemas a la compañía si ocurre en cualquier momento durante los próximos 5 años. Sin embargo, por ahora, los mercados están tomando las cosas con optimismo. El índice Crypto Fear & Greed está en su punto más alto desde su lanzamiento, con inversores que son 95% codiciosos, mostrando que por ahora, aunque BTC está cerca de su ATH, los inversores están en un fuerte ánimo alcista.

Michael Saylor, CEO de MicroStrategy, compartió el anuncio en sus medios sociales, y Crypto Twitter espera para responder. Los memes, los tweets divertidos y las expresiones de sorpresa inundaron rápidamente la línea de tiempo de Saylor.

Y hay una razón para tal entusiasmo: muchos criptoinfluyentes sostienen que las inversiones institucionales son un factor clave para la adopción global del criptograma… y la valoración.