a photo of crypto expert reviewer Preston Byrne

Preston Byrne

Preston Byrne is an independent consultant that advises law firms, corporations, and the public sector on cryptocurrencies. He co-founded and worked as COO of Monax Industries, a blockchain infrastructure provider.

Reviews by Preston Byrne

šŸ”‘ 2 positive | šŸ’© 9 negative

šŸ’©

Litecoin, a cryptocurrency nobody uses, is now comparable in notional value to the silver market.

2017-12-12 | Full Review

šŸ’©

Just because a document shows a certain bank balance amount on a certain date doesn't mean the funds are unencumbered/free and clear.

An audit, which Tether refuses to provide and which companies large and small undertake on a regular basis, would answer that question.... Additionally, assuming, arguendo, that Tether is backed 1:1 (which I otherwise do not), that much cash sitting in a bank should trade not at par but at a discount commensurate with the credit rating of the bank.

2018-06-20 | Full Review

šŸ’©

Cardano and Marmotcoin currently processing roughly the same number of on-chain txs.

2018-03-10 | Full Review

šŸ’©

Cardano and Marmotcoin currently processing roughly the same number of on-chain txs.

2018-03-10 | Full Review

šŸ’©

Reminder: the DAI stablecoin's "stability" has failed, in the past, when bots stop functioning. Its gravity-defying character amidst a massive price collapse when the whole market is looking for liquidity makes little sense.

2018-12-07 | Full Review

šŸ”‘

You know Monero is the real deal because US Attorneys routinely have to say ĀÆ\_(惄)_/ĀÆ in court filings describing seizures thereof.

2018-11-30 | Full Review

šŸ”‘

Gemini has built a public, permissioned application that effectively hybridizes the separate approaches of the coins on the one hand, and the enterprise blockchain applications that have been developed on the other, to bring something to the marketplace that is unique and genuinely new.

2018-09-10 | Full Review

šŸ’©

The high degree of collateralisation and attendant risks participation in the [Bitshares] ecosystem requires means that returns have to be astronomically high to justify such participation, levels of returns really only seen in very limited circumstances. Iā€™m forced to conclude that the only way BitShares makes sense is in the context of asset price speculation on the BitShares themselves.

2014-08-17 | Full Review

šŸ’©

Ethereum's problem ā€” and [decentralized finance's] problem ā€” is that absent traditional, legal means of taking security, all secured transactions have to be 100% cash collateralized (or more, in the case of e.g. Dai), which is hugely inefficient from a cost-of-capital standpoint.

2019-01-19 | Full Review