How will Bitcoin /Crypto comply with outdated laws

The Banks own the Feds they own the game.
SEC / CFTC Gary Gensler are all there to protect the Banks.
The Fed won’t update any rules and/or regulations

Bitcoin /Crypto are forced to comply with outdated laws that shouldn’t be the framework.

Sam Bankman-Fried
SBF @SBF_FTX

Right now devs can’t write code in the US without fear of requiring a license they couldn’t possibly get, and you can’t launch a token without fear of prosecution for not completing a registration no one could complete. If the industry argues for no regs this is what we get.

FTX Policy Regulation – Possible Digital Asset Industry Standards

1) As promised: THREAD 1  – 15
My current thoughts on crypto regulation.

2) At a high level:
a) we need regulatory oversight and customer protection
b) we need to ensure an open, free economy, where peer to peer transfers, code, validators, etc. are presumptively free
c) we should establish regulation–and until then standards–to ensure (a/b)

REACTIONS

Sam Bankman-Fried just published his thoughts on the future of regulation in crypto.

It’s structured as a set of self-governing community norms, but it also serves as a suggested framework for regulators to adopt.

Jon Wu Here’s what it recommends: Thread  1 – 7
https://twitter.com/jonwu_/status/1582909696830152705

Maya Zehavi
Given FTX is the bull market winner Sam gets to write the rules & choose which hill to die on.
What’s interesting is that he chose p2p payments & not permissionless smart contracts, where free speech & open crypto sandbox actually proves the tenacity of permissionless.

The reason why crypto needs to be permissionless is to remain a contra to the self dealing in asymmetrical financial info that become the backbone for business as usual in tradfi.
I started out in crypto believing permissionless was a temporary reality till the space matures

But that creating gated moats for crypto where only the incumbents, winners & old boys can play in is detrimental to any prospect of realizing what crypto can shape markets, computation & privacy.
The promise of crypto rails is to serve as leveling infrastructure for data/devs

The FTX proposal is a launch pad for regulatory stamp for “permissioned” DeFi for institutionals to source liquidity off of retail, when liquidity dries up in tradfi markets given the global macro & peak dollar.
The boomerang of incumbent gates is that the US looses innovation

Even the best intentioned projects can’t comply with that, not out of I’ll intent but technically that’s almost impossible when the requirement is to force tradfi market manipulation rules to open permissionless contracts. It’s essentially prohibiting DeFi as we know it

Given the SBF proposal there are 4 actors in the space we should be concerned with :
1. Builders, US smart contract devs & infra
2. DeFi participants – LPs, retail & DAO voters
3. End user conduits – wallets, front end & blockchain data providers
4. The incumbent moats

It’s not just a fancy lawyer talking to the cftc, but a list of measures:
– register w CFTC
– Chief Compliance Officer
– compliance systems to follow rules
– monitor trades
– provide info to CFTC and public
– suspend users who violate rules
– fraud/risk mgmt systems

scott @scott_lew_is
FTX is spending money to push a law thru congress that may force defi protocols to operate like centralized exchanges. The proposal is called the Digital Commodities Consumer Protection Act.
A better name would be the Digital Commodities FTX Protection Act.

Jack Dorsey unveils decentralized social with algo choice and portable accounts

Jack Dorsey unveils decentralized social with algo choice and portable accounts

https://cointelegraph.com/news/jack-dorsey-unveils-decentralized-social-with-algo-choice-and-portable-accounts

The long-awaited “Bluesky Social” app is now accepting users for private beta and says it will “launch soon”

Twitter co-founder and former CEO Jack Dorsey have lifted the curtain on the latest iteration of its social protocol and a new Bluesky Social app — as part of its decentralized answer to Twitter.

The Oct. 18 announcement comes nearly three years since the initiative was announced by Dorsey in December 2019, with the aim that social media users should have control over their data and be able to move it from platform to platform without permission.

The new protocol has been renamed from “ADX” to “Authenticated Transfer Protocol” — or AT Protocol — and is described as a “protocol for large-scale distributed social applications” that will allow for account portability, algorithmic choice, interoperability and performance.

foundational, @at_protocol https://t.co/vMp6VKaxWY

— jack (@jack) October 18, 2022

Under the protocol, user identity will be handled by domain names in the AT protocol, such as @alice.com. These would then map to cryptographic URLs which will secure the users’ account and its data.

This data can also be ported from one provider to another “without losing any of your data or social graph.”

Other features of the protocol include interoperation and enhanced performance, as well as “algorithmic choice” — giving users access to “an open market of algorithms,” similar to the way that users interacting with Web search engines are free to select their indexers.

Bluesky explained that this means users will have more control over what they see and who they reach on social media platforms using the protocol, rather than that aspect being controlled and manipulated by a single corporation seeking engagement.

Bluesky previously described its content moderation model as occurring in “multiple layers through the system, including in aggregation algorithms, thresholds based on reputation, and end-user choice.”

“There’s no one company that can decide what gets published; instead there is a marketplace of companies deciding what to carry to their audiences.”

Responding to a user’s question on Twitter, Dorsey also confirmed that a user could choose “no algorithms.”

The decentralized social platform could be one answer to the centralized manipulation of’ social media feeds, accounts, and data, which has been criticized by many as harmful to social cohesion.

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Makes Sense If My Goal Was To Destroy Public Education in America

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Republicans want to destroy k12 Public Education and are being successful.

K12Playground Defend and Support K12 Public School Systems

Makes Sense If My Goal Was To Destroy Public Education in America

Walker Bragman @WalkerBragman

If my goal was undermining and destroying public education in America, I would probably work hard to prevent the country from doing anything about school shootings and COVID spread.

If my goal was to create a compliant, disempowered workforce, I’d probably work to undermine and destroy public education.

If my goal was extracting the maximum amount of wealth from labor, I’d probably work to create a compliant, disempowered workforce.

And of course, if my goal was paying the least amount in taxes I possibly could on that wealth, I’d work to undermine and destroy the public sector — especially public education.

Hell, I’d probably work to scare parents about what their kids are learning in schools. Maybe, if I truly had no scruples, play to their deepest fears/prejudices.

Of course, nobody else would ever think to do any of this, I’m sure..

The end of school mask mandates across the country represents the latest victory of a two-year campaign against public health measures by business-aligned, right wing dark money groups — including the Koch network

A new Heritage Foundation fundraising email boasts of state-level pandemic policy victories.
Also boasts that it helped pick the Supreme Court.
https://twitter.com/WalkerBragman/status/1582753936653443072/photo/1

COVID shouldn’t be politicized.
It’s a novel, deadly virus that’s rapidly mutating and linked to some significant long-term health consequences.
Long-haul symptoms are not rare and the best protection is not getting infected.
It poses a significant danger in every workplace.

❗️MASKS WORK THREAD ❗️
Here is a short list of publications I’ve compiled from TOP medical and scientific journals, all FREE to the public. They *ALL* provide evidence that masking controls the spread of COVID19. Please share/use in responses (1/9)
https://twitter.com/subzerocovid/status/1582379345762742272

Replies
“Compliant, disempowered workforce”. Didn’t realize how true this was until COVID. Executives exerting just the right amount of pressure to get employees to risk their health for the sake of company ‘culture’. I see it every day.

If I wanted to do away with the structures of a liberal democracy, the structures of public health would be on my list, along with public education and others.

It’s absolutely an overarching rightwinger goal to destroy public education and replace it with godbothering indoctrination factories that aren’t regulated and don’t teach things like “racism exists”

I would make college unaffordable by federally backing student loans making it risk free for middleman banks to profit. Then I would virtue signal by giving a small group of people a small amount of forgiveness to make it look like I cared.

NIXON Hated Jews

Republicans hate everyone except Evangelical Christian fascists.

No one calls them alt-right anymore they are just fascists.

NIXON Hated Jews

Roger Stone hates Jews

Kanye West Hates Jews

Ronald hates Democrats

He Was a Crook A scathing obituary of Richard Nixon, originally published in Rolling Stone on June 16, 1994 By Hunter S. Thompson

REPUBLICANS

Kanye wants to buy Parler KKK Klan
Elon Musk wants to own Twitter.
Trump owns Truth Social.
Mark Zuckerberg controls Facebook and Instagram.
Peter Thiel funds Rumble.

It’s never been about free speech.
It’s about power.
It’s about control.
It’s about evading accountability.

Gab was founded by CEO Andrew Torba a Christian nationalist and CTO Ekrem Büyükkaya

Gab is headquartered in Clarks Summit, Pennsylvania  among the platforms used to plan the United States Capitol attack on January 6 Gab switched its software infrastructure to a Mastodon fork, a free and open-source social network platform. Mastodon released a statement in protest, denouncing Gab as trying to “monetize and platform racist content while hiding behind the banner of free speech” https://en.wikipedia.org/wiki/Gab_(social_network)

‘Cesspool of hate’: Jake Tapper explores Gab’s digital netherworld of ‘hideously racist’ posts and ‘Nazism’
https://www.alternet.org/2022/10/cesspool-of-hate-gab-cnn/

Voters have the right to cast their ballots without fear of harassment or intimidation, no matter how they choose to vote. Call 866-OUR-VOTE (866-687-8683) if you think you’re experiencing voter suppression or intimidation while trying to cast your ballot.

When we voted to keep birth control legal in America 96% of republicans in Congress voted no.

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