Conversation

1/ Watching

as I clean my house :) Takeaways: - The Federal Reserve and banking system - highly regulated -- is not transparent. Why should crypto be held to a higher standard, when it is already MORE transparent in many ways?

386

Replying to

and

Watched this earlier today, it seemed like a productive discourse You can tell Erik has a stronger grasp, but showed deference to SBF in a “You gotta trust the person in the room” way I never felt like SBF was lobbying on my behalf, but under Erik’s influence, I do feel better

Replying to

and

I feel like Erik would blow an actual negotiation -- though I highly respect his thoughts and position. I don't think an absolutist, purist position is possible here. If we gambled with that, we'd all get nothing. SBF is practical. He's balancing many, many things.

Replying to

and

yeah I mean tbh I have quite strong feelings about what would happen if you tried those lines in DC with regulators or (most) policymakers and they're probably in line with yours but seems like a bunch of experts on crypto twitter disagree so who knows maybe they're right

Replying to

and

That's what I was getting ... SOMETHING is definitely going to happen here reg-wise. And left to their own, lawmakers will be super overzealous and protect incumbents. So we need to push hard but be willing to deal in some way.

Replying to

and

Something will happen—either reasonable regulations get handed down or the US sees an EPIC brain drain and the largest off-shoring of innovation we’ve ever seen Lawmakers and regulators can figure out how to do this correctly, w/ industry input, or they can lose fantastically

GIF

read image description

ALT

Replying to

and

I *wish* I was confident the right choice would be made by policymakers!

2:23 AM · Oct 30, 2022Twitter Web App

Replying to

and

We still put our best foot forward, w/ our best arguments, articulated by our respected and politically savvy leaders We need policymakers to see our best, and not just frogs, maxis screeching, and scams They aren’t seeing the good we’re building, but they read about every hack

Replying to

and

So the move is: a) Push HARD for Hands Off DeFi. HARD. b) Use the stick: "You fuck this up, USA, DeFi will STILL happen, but overseas. The next Apple, the next Google will be in Dubai. The world will route around USA like damage." c) But deal if you have to. Protect validators

Replying to

and

Negotiations don’t end at “no” — that’s where they begin Erik’s point was that you start by stating your uncompromised position, then fight to achieve that. Compromise will be necessary, but if you start a negotiation by ceding some of our core philosophies, you’ve already lost

Show more replies