Thoughts on Crypto regulation
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Not pro-regulation but anti hypocrisy.
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A lot of people want no regulation at all which is fine as it’s a principal stance.
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People like Brian Armstrong want regulations in some places and not others as it aligns with his benefit.
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Coinbase will have to register as a securities exchange but then everything on their exchange will have to be regulated as a security as well.
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If all exchanges got regulated and had to allow only regulated securities to trade it would lights out for crypto.
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A lot of exchanges and big projects have been pushing for CFTC to be the regulator instead of the SEC-to have lighter regulation.
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SBF, Coinbase, a16z hire and send a lot of people to DC to lobby in their interests.
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It’ll be interesting to watch what projects and exchanges do without SBF lobbying for them anymore.
What the race to avoid the war is:
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10 million Bitcoiners-people who truly believe in $BTC-from the U.S., are invested deeply in it and would go lengths for it are necessary to win the war.
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The current number is 50k-100k, if the adoption race is won bitcoin could dominate money by 2035-40, if not it will have to be rebuilt and could take upto the 2100s to enjoy freedom and prosperity that BTC brings.
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Whatever anyone can do to push BTC further helps the mission.
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The governments, banks and non-bitcoin crypto needs to be converted or crushed for this to happen.
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Anyone pushing adoption in El Salvador or building privacy tech in other countries also gives more time to get to 10M Bitcoiners in the U.S.
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Adoption everywhere is important but the one country it matters the most in is the U.S. as it can then coordinate other countries as well.
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Defi and crypto innovation will always muddy the water for BTC and not push it forward.
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A lot of people generally settle into “What is money” and attack people’s perspective of money to convince them about BTC.
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95% of the people don’t understand Bitcoin the first time, they have to be hit with multiple messages and with the same message multiple times.
