Row 45625

Row ID: 45625 | Dataset Entry | Axioma AXP Content Repository

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The US always does everything wrong at first, then on long enough time scales it rights itself eventually. If enough citizens want for the US to embrace crypto then politicians will have to embrace crypto. That's just democracy, whether it's sincere or not they still have to appease the people (or else someone different will).

I think politicians thought 'crypto is dead' more than a few times, so it was never important enough to take the time and learn about it. But it just keeps bouncing back, it's proven itself to be something truly resilient, so their hand is being forced now for good and worse.

It seems to me a lot of politicans have become very educated on (and pro) crypto in the last couple years, from the tons of people that call them each day to explain what matters to them personally. Not as many young (under 60) people take the time to contact their representitives, but that seems to be changing, and ignorance never leads us anywhere pleasant. There is a generational divide in this space for sure.

https://www.standwithcrypto.org/politicians

Europe and Asia have done a ton of work in the last few years differentiating scams/securities/commodities in the crypto space. Rules for how to launch a centralized security and decentralize into a commodity, rules for stablecoins, rules for precisely what is and isn't allowed with investors. Meanwhile, the US greenlit investors to pour into FTX's hundred billion dollar fraud exchange that was based on an Excel spreadsheet, and allowed Craig Wright and Richard Hart to scam more billions from US citizens on securities fraud also without oversight.. or even a slap on the wrist.

Allowing investors to be defrauded repeatedly is not the best look for the Democrat-lead SEC right now...during an election year. SEC's job foremost is consumer protection and they have completely failed. There are obviously a shitload of single-issue voters holding heavy crypto bags, and even more who lost (or may lose) money solely due to seemingly personal issues within the SEC, such as if they wrongly classed ETH as a security.

It really sucks this had to become political but should at least serve to steer the ship in the right direction. The US has really fumbled the ball hard and so I hope they over-compensate (by doing things right, creating regulations that still make sense 30 years from now that enables innovation) to regain some of their lost ground. If the US fails to embrace crypto, innovation will move off-shore, and if this crypto thing turns out to be huge there's no getting it back. By now the politicians should all know that risk.

🤞

FieldValue
text The US always does everything wrong at first, then on long enough time scales it rights itself eventually. If enough citizens want for the US to embrace crypto then politicians will have to embrace crypto. That's just democracy, whether it's sincere or not they still have to appease the people (or else someone different will). I think politicians thought 'crypto is dead' more than a few times, so it was never important enough to take the time and learn about it. But it just keeps bouncing back,…
label r/ethereum
dataType comment
communityName r/ethereum
datetime 2024-05-22
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Raw Record

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  "text": "The US always does everything wrong at first, then on long enough time scales it rights itself eventually. If enough citizens want for the US to embrace crypto then politicians will have to embrace crypto. That's just democracy, whether it's sincere or not they still have to appease the people (or else someone different will).\n\nI think politicians thought 'crypto is dead' more than a few times, so it was never important enough to take the time and learn about it. But it just keeps bouncing back, it's proven itself to be something truly resilient, so their hand is being forced now for good and worse.\n\nIt seems to me a lot of politicans have become very educated on (and pro) crypto in the last couple years, from the tons of people that call them each day to explain what matters to them personally. Not as many young (under 60) people take the time to contact their representitives, but that seems to be changing, and ignorance never leads us anywhere pleasant. There is a generational divide in this space for sure.\n\nhttps://www.standwithcrypto.org/politicians\n\nEurope and Asia have done a ton of work in the last few years differentiating scams/securities/commodities in the crypto space. Rules for how to launch a centralized security and decentralize into a commodity, rules for stablecoins, rules for precisely what is and isn't allowed with investors. Meanwhile, the US greenlit investors to pour into FTX's hundred billion dollar fraud exchange that was based on an Excel spreadsheet, and allowed Craig Wright and Richard Hart to scam more billions from US citizens on securities fraud also without oversight.. or even a slap on the wrist.\n\nAllowing investors to be defrauded repeatedly is not the best look for the Democrat-lead SEC right now...during an election year. SEC's job foremost is consumer protection and they have completely failed. There are obviously a shitload of single-issue voters holding heavy crypto bags, and even more who lost (or may lose) money solely due to seemingly personal issues within the SEC, such as if they wrongly classed ETH as a security.\n\nIt really sucks this had to become political but should at least serve to steer the ship in the right direction. The US has really fumbled the ball hard and so I hope they over-compensate (by doing things right, creating regulations that still make sense 30 years from now that enables innovation) to regain some of their lost ground. If the US fails to embrace crypto, innovation will move off-shore, and if this crypto thing turns out to be huge there's no getting it back. By now the politicians should all know that risk.\n\n🤞",
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