Blockchain babies, we adore you! Cypherpunkers, we carry a torch for ya that will never go out!! Cryptocoiners, we love you!! And together we adulate the "strong like ox" Publish0x for bringing us together!
The opposite of the FT's feelings for crypto. You know how many enlightened people simply refuse to pass on negative news? Not us, mind ya, for us the struggle is real. But good people, people who wouldn't say ch-t(coin) if they had a mouth (bag) full. Who started that, was it Aesop? No, wait it was Thumper!!!
Well that's the exact opposite of the FT's stance on crypto, which is if ya can't say anything nasty about crypto, don't say nuttin. They still give us BTC and Ethereum quotes on the front pace, but that's it.
Oh, there's plenty of stories about blockchain that aren't about crypto. Tradfi leaders E & Y, who helped crash the world in 2008, made headlines yesterday for evaluating a company at over two billion which is now worth zero. If Lehman kept assets on the chain, we wouldn't need accountants to lie about if they existed. Today, E&Y earned the biggest SEC fine ever on an auditor, for cheating on ethics exams, these jokes write themselves! There are stories fighting over election fraud (if ever a problem was crying out for a blockchain auditable solution.) Stories about LaGuarde fighting inflation, which is really about needing hard money that people like her cannot print ( or create with quantitative easing.) H-ll, there is a huge spread today on Facebook dropping ten billion into the Metaverse. We understand not rehashing the Libra regulatory fiasco, but hello, Zuck Bucks are coming to Meta (of course) but not in the FT, one has to go to the Independent for the Meta crypto story (link below.)
There's even a story about Occupy White Walls, OWW, an arty museum building game dropping on Steam. Steam decided to ban crypto, which developers were naturally starting to use. FT must have had to search long & hard to avoid crypto & find OWW (a game that cries out in vain for NFTs.)
What are the biggest videogames right now, according to Wikipedia? #1 Minecraft - which was integrated with crypto from jump street. #2 - Grand Theft Auto V: GTA Six will have crypto integration. #3 is Tetris - Tetris just filed trademark protection for their plans for NFTs, Crypto, etc.
Call of Duty Warzone lets everyone fight it out for crypto rewards, with over a million users, usually at least a quarter million online NOW. And Activision, the parent company, has their own ERC-20 token, ATVI.
We could go on and on, we just did :) but the idea is clear, FT. Do we give a chit about Occupy White Walls, even if we give up some bourgeois snob class warfare points for style? Is this all the news that fits or just all the news that fits the crypto trashing narrative? Warzone got 30,000,000 players in the first ten days, fifty million in the first month. What's the forecast for OWW? WHERE IS THE NEWS!!??!!? Let alone where is the love.
Yer standing against the tide, FT. And now we are damned suspicious of the bias implicit in the market data tables. Let's throw a couple of darts shall we? Let's see, the multipage "MARKET DATA" today lists a whole lotta stuff - but no more crypto. IS THIS WITHOUT FAVOUR???
The FT gives up prices on BTC and ETH. Let's go to the Gecko!! We will be generous, fight fair (even tho they don't) and skip over Tether (smeared by the FT all the time) and USD, chilling at market caps of 66 billion and 53 billion. We drop down to Binance coin, BNB, now beaten down to 35 billion in hard earned market capitalization, but still not worthy of a microscopic line of print in the FT's view.
Turn back to the tiny print in the FT. Hmm, here's Pendragon, listed as a winner today, and Lamprell, a loser. Pendragon's market cap? According to the LSE's link below, 307 million pounds sterling. Lamprell? 29 million sterling. So put those two companies TOGETHER, convert to $$ at 1.21 today, and laugh till ya cry. MULTIPLY their market cap by ~90X and they are STILL less important than BNB. Oh, but Lamprell and Pendragon are worth printing, not like that nasty Binance.
TBF, maybe it’s a cheap shot picking on UK small caps. Flip the page and throw another dart in the commodities section, cryptocoins are commodities, right? Lessee, Orange Juice!!! According to Statista, link below, all the OJ in the world is worth 29.32 million euro this year. Which is waaay less than BNB. Another? Robusta coffee, Statista says we do 77 million 60 kilogram bags per year in 2022 at 2$ per kilo thats a whopping 9.2 billion market cap. SOOOO much more important in today's world than Binance's 35 billion, right ? Nope.
But maybe we are doing this wrong, let's look at a more directly comparable vehicle, FIAT (#&$#(*$& CURRENCIES. That's fair, right? Throw a dart, the FT thinks the Tunisian Dinar price is fit to print. Check coinmarketcap listings for fiat vs btc below. All the Tunisian Dinar in the world is worth under 35 million (or 1,714 BTC as of this writing. )
We rest our case, FT. Shame shame shame for skipping BNB but listing the T Dinar, which if it went 100x tonight would still be worth less than Binance coin. A perfect five out of five heartfelt FU's for your market data tables.
Want to report market data without favor? To hold your standards up high like Nelson's column, if you are printing the Tunisian Dinar, you also need to print Thundercore and Polkastarter, which currently have 47 million in market cap, that's 130% over the T Dinar. Ohhhhhh yeaaaaah. And since thunderc and polkas are fighting it out for 400th place by market cap on the Gecko, the FT should ethically ( let ALONE morally) start listing the 398 cryptos above them.
We look forward to a 398 line entry in the "Corrections & amplifications," eds. Get with the times.
Peace, love, and no prejudice nor bias,
Dave
