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1/ CRYPTO POLICY: I’ve been quiet publicly, active privately on the DCCPA and US policy the past couple months. tldr: DCCPA must be significantly amended or paused until next year. Measure twice, cut once. Let's get US crypto policy right.

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Again, question to

: Will you support delaying DCCPA to next year so that it can be done right, rather than pushing it through this year where most industry leaders believe it is being done wrong?

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It depends on the final language, as I've said many times. *If* the final language protects DeFi, then I'm strongly in favor of it passing this year. If it doesn't, I'm not. There are a few remaining language chocies that will be *very* relevant for its impact on DeFi.

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But it doesn't really matter what I think, it matters what you guys think, and how effective you guys are at getting your voices heard. FWIW, word is that so far, the CT blowback has rallied *more* support on capitol hill behind regulating DeFi. Hopefully rumors are wrong.

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My strong instinct--as I predicted--is that this approach is in fact already predictably backfiring and causing the exact opposite reaction of what is desired. But again, hopefully I'm wrong.

4:44 PM · Nov 4, 2022Twitter Web App

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It feels like everything you do is a psyop, be more like Elon sir

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That dude is the king of psyops

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The goal is to build something the state CANT regulate. So it’s really irrelevant what the gov thinks. Permissionless & censorship resistant systems or bust.

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There are no censorship resistant systems, as the user/VASP etc can be imprisoned in the end…

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If that's true, hopefully it'll come to light exactly which folks are responsible, & then (also hopefully) we can vote them out And if true but the above doesn't work, defi & a lot of crypto will fully move overseas, US persons will access in less safe ways, & US will just lose.

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hopefully we can avoid that

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I’m curious about the psychology that would drive “I hear crypto twitter is making a big fuss about potential DeFi regulations. Ha! That only motivates me MOAR to fuck them over!” Seems more a contrived narrative behind a preexisting disposition to be support “told ya so”.

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basically a sense of "how reasonable, according to DC norms, is actor X being, and how much does that make me want to accommodate them?"

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The "approach" of making principled arguments against ubiquitous surveillance and central economic planning is backfiring? What should our approach be, instead?

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hes advocating for the approach where we let them do whatever they want to crypto and we politely beg them to reconsider after it's done.