Nic Carter on Quadriga, Libra and Other Suspect Projects

Carter does believe crypto - especially bitcoin - will change the world for the better.

It's really a story about fractional reserve banking and how everything goes wrong when people think an exchange doesn't have sufficient reserves.

Do you think this represents a systemic risk for the industry? That exchanges could be potentially be operating when they're actually insolvent?

Quadriga probably was the only one, because CoinMetrics has done some work evaluating trading volume versus bitcoins on the balance sheet.

What's really interesting to me is that, Congress got so upset about it, I think mostly to score political points.

Mnuchin went on Squawk Box and talked about bitcoin in the context of Libra.

It makes me think that maybe we're dealing with a S.E.C. that is super risk-averse and doesn't want to get into costly litigation, unless they think they have a slam dunk.

If I had to guess, I think there might be something more coming down from the SEC.Are there any token projects you see as legitimate?

In terms of the monetary use case, I think bitcoin is gonna be the winner for the foreseeable future.

If you think about your Twitter handle as a plot of land, or the property that you improve upon and put work into...your social graph, then.