Dave Rubin, the founder and the host of the Rubin Report, has left Patreon with Dr. Jordan Peterson and has begun to develop an alternative solution, possibly involving crypto.
Sharing his Bitcoin address in a statement, Rubin said:
This is why Dr. Jordan Peterson and I are leaving Patreon and working on an alternative. It’s becoming clearer and clearer to me that crypto and decentralization will have to play a significant role.
Mastercard is Doing the Hard Work For Crypto
Decentralization in finance is important in an era in which content creators and commentators sustain their platforms through digital payments.
During a podcast in France, Dr. Jordan Peterson revealed that he was receiving around $80,000 per month on Patreon as compensation for all of his work including the free content he regularly publishes on YouTube, such as interviews and speeches.
However, as the Patreon account of many content creators were banned without any prior notice or explanation, Dr. Jordan Peterson left Patreon, abandoning a stable stream of income to create an alternative to Patreon.
As Dr. Peterson left the platform, he stated:
I’ve been working on a system to allow authors and other people who engage publicly on intellectual issues to interact more effectively with their readers and viewers and listeners. What we’re going to try and do as fast as we possibly can is to set this system up on a subscriber model that’s analogous to Patreon. It will have a bunch of additional features, which I don’t want to talk about right now, and I don’t want to over promise because the system is new.
Based on the recent statements of Dave Rubin, it seems increasingly likely a platform involving cryptocurrencies will be created, as Dr. Peterson emphasized throughout the past month that payment processors in the likes of Mastercard and Visa should not be censoring the accounts they service based on their political bias.
Down we go further into the rabbit hole: why are MC/Visa/PayPal/Patreon acting as censors? They are fighting ‘hate speech.’ But–the Achilles heel of such conceptualization–who defines ‘hate?’ Answer: Those to whom you would least want to grant such power.
If an alternative to Patreon is created by depending on centralized payment processors and settlement systems, it will suffer from the same problem Patreon struggled to deal with; payment processors will simply request the platform to censor accounts or risk losing the services provided by the payment processors.
Crypto is the Answer
Dave Rubin noted that it has become more evident that anti-censorship money in crypto seems like the sole answer to the censorship practiced by payment processors.
Mastercard, PayPal, Visa, and other financial companies have possibly done the hard work for the cryptocurrency ecosystem by giving the incentive to influential content creators and individuals to recognize the necessity and importance of decentralized money.
The motive behind the operations of payment processors based on subjective political bias remains unclear. But, in the long-term, it may increase the adoption of cryptocurrencies that are able to provide financial services to everyone on a decentralized protocol.
Twitch discontinues crypto payment options, Binance Launchpad update and more
Crypto News – 25th March – Twitch discontinues crypto payment options, Binance Launchpad update and more
— AMBCrypto (@CryptoAmb) March 25, 2019
Crypto News – 25th March
Bitcoin hash rate vs Ethereum hash rate: Recent reports show that Bitcoin’s hash rate had seen a drop of 50% but then steadily increased to register an 80% gain.
Read more on https://bit.ly/2Wp2IAS
Charles Hoskinson on Cardano’s status as a multi-asset ledger: He stated that it would not be a “particular usual financial system,” if users cannot issue their own assets, adding that Cardano was a multi-ledger system that would support multi-currencies.
Read more on https://bit.ly/2Fr6Eu3
Cryptopia on deposits: The statement said that deposits that took place more than 24 hours after the announcement would not be recovered.
Read more on https://bit.ly/2HWDCW5
Bitfi adds XRP: Bitfi claimed that XRP addition was another step in the wave of mainstream adoption because the platform was mainly Bitcoin-friendly.
Read more on https://bit.ly/2upongl
Bitmain’s IPO filing officially lapses this week The mining firm is back in the spotlight yet again after Dovey Wan, Founding Partner at Primitive, pointed out that Bitmain’s Hong Kong Stock Exchange initial public offering filing would expire this week on 26 March, 2019.
Read more on https://bit.ly/2TYYses
Justin Sun’s Twitter followers may be fake: A researcher found out that most of Sun’s latest followers are fake or are bots.
Read more on https://bit.ly/2CEPtEu
Cryptopia reveals that funds deposited 24 hours after declaration of breach would not be recovered
The New Zealand-based cryptocurrency exchange, Cryptopia released a statement detailing information regarding the deposits that took place after the hack on 14 January. The exchange, which was attacked twice in January, warned its customers about the breach and put their website under maintenance to avoid any further damage.
The statement said that all customers were notified about the breach on 15 January at 12:00 AM NZT and thus, deposits that took place more than 24 hours after the announcement would not be recovered. Cryptopia stated,“This means that if you sent funds after 16/01/2019 12:00AM NZT we will not be recovering those funds for you.”
Cryptopia did not set any specific deadline to recover the funds that were sent before the cutoff. However, any deposit they recover would be “subject to the same haircut” that was already applied on their users. The option to deposit funds remains disabled on the exchange and users have been asked to wait until an official announcement is made.
Once the deposits are re-enabled, users can deposits funds after generating a new deposit address for each of their coins. The users were also warned not to use any existing wallets to send funds and instead, were advised to create a new wallet address.
Cryptopia already made a CoinInfo page available to its users, providing them with the option to check the status of their coins after the hack. The exchange previously said that they would be securing 35% of the coins to new wallets and that they would be enabling the option for users to cancel orders.
However, to get back on track, it will have to secure all the listed coins. According to an email shared by the exchange, it is planning to get back into business by the end of March. The statement said,“We will be emailing you again shortly with more details around the rebates and the projected dates for trading to be active again. Please be aware, we are hoping to achieve this by the end of the month.”
Bitmain’s IPO filing is about to expire
Twitter user @DoveyWann recently spotted some significant news related to Bitmain. The Chinese crypto mining firm’s Initial Public Offering (IPO) filing is due to officially expire later today (25/03/2019), officially signalling the failure of its first effort to go public.
Bitmain first filed for the IPO six months ago, still riding high in the wake of the astronomical profits that the company had previously made, as the mining industry leader at the time of 2017’s historic bull run. Since then, a number of major investors have pulled out, claiming that they were misled by the company. Bitmain has been beset by various issues, and some have speculated that it may now be insolvent.
Lost revenue due to plummeting prices in the crypto market was compounded by the company’s leadership unwisely investing a large amount of its profits into Bitcoin Cash (BCH), as well as losing its edge in terms of the quality of its mining rigs. Bitmain’s co-founder, former CEO, and figurehead, Jihan Wu, now appears to have lost a significant amount of his previous influence.
There is a 6 months window for an IPO filing to be moved into IPO hearing stage, if the hearing does not happen in 6 months it will automatically expire 🕯️🕯️🕯️
Bitmain’s next attempt can be NASDAQ but it needs to find another underwriter, and fix its financials
— Dovey Wan 🦖 (@DoveyWan) March 24, 2019
This is one of things that makes me appreciate bear market a little bit more.
— Krisma (@KRMA_0) March 24, 2019
An IPO filing has six months from submission to move on to its next stage, the hearing, and this now appears to have passed. While few suspected that the IPO would ever be successful, this official confirmation is a notable development in the ongoing bear market and saga of Bitmain. The company was hoping to be floated on the Tokyo Stock Exchange, but Bitmain may still have a chance to go public with a further filing on the NASDAQ.