gital pieces of art as NFTs. If you are not yet familiar with NFTs, <a href="https://readmedium.com/are-socks-the-new-tulips-4825ab13695b">here’s</a> a quick 101 on them. Over one weekend, with pieces selling from 10s to 100s of thousands of dollars each, Beeple — an ‘average’ dad driving an ‘average’ car — netted 69 million.</p><p id="457e">That, is why you should know of the name Beeple. And why NFTs might be a trend you want to learn more about.</p><p id="f997">Why would anyone buy the ‘digital’ artwork, you may ask? Good question. After all, I just snipped a photo of it above, and pasted it right here, for free, where you also enjoyed it, also for free.<b> So why would someone pay up to 777,777 for one digital artwork, when we can all have access to it?</b></p><p id="9f8f">The sense of ownership, proprietary rights to the ‘original’.</p><p id="1545">Still doesn’t make sense? Well, you are not alone. And not wrong. It does not really make sense.</p><p id="2427">The world is going places we do not yet understand.</p><p id="5b1b">Stay with me for the ride!</p><h2 id="d280">Enter Liink.</h2><p id="735e">And JPM Coin, and Onyx, and Format, and Confirm.</p><p id="83cc">JP Morgan is on top of this.</p><p id="14b8">Here are the cole’s notes.</p><p id="a5ce">A couple of years ago [yes, already], JP Morgan created JPM Coin, a digital coin used to speed up transactions and transfers of USD across the network, built on an Ethereum network they called Quorom. JPM Coin is stable coin, pegged 1:1 to the US Dollar [<a href="https://readmedium.com/three-crypto-trends-to-get-into-early-5cf090b07334">here</a> is a simple explanation of stable coins].</p><p id="1047">If you are asking, why would JP Morgan need a blockchain network to simply trade coins where their value 1:1 US Dollar? Well;</p><ul><li>the coin can be exchanged between entities digitally, instantaneously, without the intermediate ‘processing’ period we sometimes have to get our money transferred.</li><li>To transfer a digital coin, you need a blockchain platform. Hence Quorom.</li><li>Because it is cool and they wanted to get into this! So ‘cool’ that some digital coin enthusiasts don’t even recognize this one as a true digital coin — discrimination in digital coins already!</li></ul><p id="7650">Once they set up Quorom, JPM started a payment messaging system, Liink.</p><p id="1759">The “IIN” in the middle stands for interbank information network. Any bank which joins this network can have access to the ledger of transactions done on the network, i.e. can see every payment which went through on Quorom.</p><p id="e47f">Also using Quorom, JP Morgan went on to start new tech-enabled solutions such as Confirm and Format [JPM seems to be into puns].</p><p id="1124"><b>Confirm </b>is used to validate account info before payment is done, this is so costs are not wasted on potentially fraudulent transactions. <b>Format</b>, you guessed it, checks if the format for payments match and conform to the receiving party’s country’s requirements.</p><p id="2f5f">Today, JPM no longer ow
Options
ns Quorom, it spun it off and invested in the new owner — ConsenSys — so it can remain independent as it creates more tech solutions.</p><h2 id="c8e1">Next up: Diem.</h2><p id="000b">Diem is Facebook’s digital currency — because, why not.</p><p id="ebaf">Facebook has been trying to get regulatory approval to issue its own stable coin, on its own payment network, Diem Association, for a while. It finally got approval last month.</p><p id="d413">Why is this one in particular an interesting one to watch, especially since it seems everyone wants to issue their own coin? Exhibit A [or F!]: Amazon made a similar announcement recently.</p><p id="3ed3">A Facebook coin has one major advantage — its potential customer base. Diem in itself is ‘just another stable coin’. Facebook however has almost 3 billion users. If, say, 15% of these users adopt Diem, it will far supersede the use of any digital currency so far, including Bitcoin. It will also make it a lot more ‘mainstream’ given the on-the-ground average-person users of Facebook.</p><p id="aedf">Worth keeping an eye out for. Might change the digital currency story.</p><p id="3be4">So, less awkward intro than you expected, I hope? Willing to go for another date? My guess is ‘crypto’ will keep us interested for a few more.</p><p id="2b4a">Quick note, some stories above are not as recent, e.g. JP Morgan’s plays. I included them because the stories continue to evolve, and these terms are making it into mainstream media; this gives the background of what you might come across more often now.</p><p id="f261">Keep watch for more crypto news, and shoot me a response if you want to learn of anything in particular.</p><p id="d2e8">Feel free to join my newsletter <a href="https://www.getrevue.co/profile/ialmouaswas">here</a>, where I send a summary of my weekly articles, usually including one crypto-based.</p><div id="e0c4" class="link-block">
<a href="https://readmedium.com/are-socks-the-new-tulips-4825ab13695b">
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<h2>Are SOCKS the New Tulips?</h2>
<div><h3>How socks became digital and memes became coins.</h3></div>
<div><p>medium.com</p></div>
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<a href="https://readmedium.com/three-crypto-trends-to-get-into-early-5cf090b07334">
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<h2>Three Crypto Trends to Get into Early</h2>
<div><h3>Get ready to pick your favourite content creator.</h3></div>
<div><p>medium.com</p></div>
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Unfortunately, Medium has certain “criteria” or “wants” for the publications they may back. Pesky things like “good writing”, “expertise,” and “quality”. That’s so dumb.
The world is chock-a-block full of publications packed with “information quality”, “focus”, and “good writing”. If I wanted to read that dreck I could just buy a subscription to Harper’s and call it a day. The New Yorker once published a 50,000 word article on zinc. I read it*. It had all of the above. I let my subscription to the New Yorker lapse.
I’m not sure Medium even really wants what it says it wants. My guess is that they are not about to back a publication devoted to the metal finishing industry regardless of how focused and full of information quality it is. I bet they hope in their greedy little Silicon Valley hearts that someone will pitch them something “high quality” and “edgy”.
Unfortunately, the Internet has made the unmentionable mundane. What was once “edgey” is now “classic”.
While I used to think that I might be interested in a publication named “Paraphilia Today” or “Bad Tattoos”, I’ve seen so many articles in my regular news feed from Vice, Vox, and Mashable that I’m not sure that I want to know where you end up if you go past bug crushers and big babies.
So, my pitches to Medium will make no pretense of quality, professionalism, or “information accuracy”, nor will they be “of the now” or “hip” in an attempt to steal ideas from underground culture and hack the next new “thing”.
What follows are the publications we need, not the ones that Medium wants. I won’t be doing anything more than talking about them. I have no intention of launching a publication for two reasons. The first is that editors have to say “no”, which is why moms and librarians often make good editors. I don’t like to say “no”. I happen to be really bad at saying “no”, especially to myself.
The second reason I’m not really going to do the work and try to launch a publication is because I’m a blogger. Blogger, not an editor, man. Bloggers just let the dreck roll, like I’m doing now. Sorry that this is the way you had to find out that you are inside my Saturday morning fever dream, but here we are, huh? Why not just keep reading? I’m still writing, man.
Idea #1: Cat Obsession
I am a graduate of the Radcliffe Publishing Course. I think I went there in 1992 or something. I got to hobnob with titans of Boston Publishing (that’s a joke. By 1992 the Publishing in Boston was dead). The only thing I remember from my time at Radcliffe was that “Cats Sell”. Truer words were never spoke. On the GoComics site, a comic called “Breaking Cat News” gets hundreds of comments every day:
There is no end to cat mania on the part of cat maniacs. My first publication pitch to Medium is this:
Name of Publication: Cat Obsession
High Concept: General interest magazine written from the perspective of cats. All authors adopt cat personas and then do things like review Arianna Grande concerts from a “cat’s-eye-view”.
Exit Strategy: Spin off to an biannual, ad-driven, large format glossy with an “editorial board” completely composed of cat food company executives, high profile veterinarians, and cat breeders.
Idea #2: Beergut: The Magazine of Male Fragility
I recently read James Finn’s advice column on whether or not jerking off can break your dick:
I’m very thankful for such stories on Medium because most male health columns are found next to pictures of young men with healthy hair wearing clothes I can’t afford. Where is the general interest magazine for the mensch?
I have fatasized about it for a long time. I think I made the first iteration of a Beergut cover when I was about 20. When I was young, I thought the publication would be devoted to “Beer, Sex, and Death”. Understand that back then when I said “Beer” I meant … Heiniken, I think…. and when I said “Sex” I really meant “tits”… and when I said “Death” I didn’t know what I was talking about because I hadn’t buried anyone yet.
Times have changed and I have changed. Drugs aren’t funny anymore.
And a “Men’s” magazine is a dumb idea when I share more in common with post menopausal women and transgender guys worried about nose hair than I do with kids who have flawless skin and knees that don’t scream with pain when they climb up on a kitchen counter.
Name of Publication: Beergut
High Concept: Like Lear’s, but for men, and inclusive of people who identify as being a “guy” even though they may be new to being a guy or aren’t even a guy. Also inclusive of dirty old queers who don’t want to have anything to do with “guys” even though they share a lot of things in common with them.
Topics and Ideas for Articles: How to bet at the dog track, best ways to cook hamburger, glucometer hacks, why you shouldn’t take investment advice from the idiots on the Yahoo message boards, how to prepare for going to the dentist, furnace reset buttons, can jerking off break your dick, is Kevin Costner a “good guy” or the world’s most hateable person, if you have to get a sandwich from Subway this is what you should order, Frito flavors we’d like to see.
Exit Strategy: Once we get “traction” in popular media, we sell the licensing rights for the brand to Johnson & Johnson so they can make Beergut branded foot powers and nail clippers.
Idea #3: Trumplandia
Those kids did not get payed. Trump stiffed them! THE JOKE IS ON THEM!!!!
I’ve tried to quit Trump. Really I have. Every couple of months I make a concerted effort to stop reading about him. But. I. Can’t. Stop. There are three self-destructive and pathological/addictive behaviors that give me a weird, out-of-body, self-hating thrill. They are:
Eating fried chicken and Yodels naked in the dark
Expressing acne in a high magnification mirror and “better than adequate” light
Reading negative things about Trump
So, why can’t we just go for it, huh? You know, if you have a song that is a mild obsession the best way to get rid of it is to listen to other sound worms. It’s called a counter-irritant. You replace:
With:
It works. I promise.
What if we went “all in” on Trump negativity? It doesn’t matter that it’s what Trump wants. We could create a place on Medium where we currate the best in Trump hate every day. Call it Trump Derangment Syndrome if you like. I don’t care. I’ve got the fever and the only thing that will cure it is reading the fan fic of other trump haters. For example:
My Friend Paul: “I will not be satisfied unless I am the person that gets to put plastic handcuffs on him and lead him out of the White House. Anything short of that is a disappointment.
My Brother, “Boy”: I have updated my sentencing of Leona Helmsley. I want Trump to be assessed a large fine and the only way he can pay it off is the following: He is put in stocks in Battery or Bryant Park in NYC. Maybe the location can change to distribute the tourist dollars. He has to be IN THE STOCKS for all daylight hours. People stand in line to take selfies with him. Each person has to pay $1 to take the selfie and the dollar goes to the city. Good for New York, and good for Trump. Everybody wins.
Here is the pitch sheet:
Publication Name: Trumplandia
High Concept: Like “High Times” but devoted to hating Donald Trump.
Exit Strategy: My great-grandson gets interviewed and when someone asks “Why are you still editing this publication?” he replies, “It’s hard for us to understand. Nobody even remembers who the Trumps were, but there are people out there, like me, whose families devoted a vast amount of mental energy to thinking about the Trumps. So, when I come to a question like ‘why didn’t we buy land in Greenland during the 2010s?’, the thing I have to remember is ‘Donald Trump’. Without this publication, that link would be lost.”
When Tina Brown took over the New Yorker she said something like “There won’t be any more 50,000 word articles about Zinc.” I was a subscriber to the the New Yorker and I think I have a recovered memory of the article, but I have looked for it and can’t find it. I’m not sure it really exists. I would love to see it if it does.