All THINGS AI & WEB3

Space Summary

The Twitter Space All THINGS AI & WEB3 hosted by ForbesWeb3. Discover the intriguing world of AI & Web3 through the ForbesWeb3 Twitter Space, where experts delve into the transformative potential of combining artificial intelligence with decentralized web technologies. Learn about the current advancements, entrepreneurial opportunities, and exclusive benefits of the Legacy Pass private sale, offering participants a glimpse into the future of innovation and collaboration.

For more spaces, visit the AI page.

Questions

Q: Why is the integration of AI and Web3 essential for the future?
A: The synergy between AI and Web3 can drive innovation, efficiency, and transparency in various industries.

Q: How can Web3's decentralized nature benefit AI applications?
A: Decentralization allows for increased security, data integrity, and accessibility for AI technologies.

Q: What opportunities do AI and Web3 collaborations offer to entrepreneurs?
A: Entrepreneurs can utilize AI-powered insights, automation, and decentralized platforms to create innovative solutions and optimize processes.

Q: What advantages does the Legacy Pass private sale offer to participants in the AI & Web3 space?
A: The private sale provides exclusive access to benefits, networking opportunities, and early adoption privileges for individuals interested in AI & Web3 innovations.

Highlights

Time: 00:15:27
AI Advancements in Web3 Exploring the latest AI breakthroughs and their impact on the Web3 ecosystem.

Time: 00:30:45
Decentralization in Web3 Discussing the role of decentralization in Web3 and its significance for AI technologies.

Time: 00:45:12
Entrepreneurial Opportunities in AI & Web3 Highlighting how entrepreneurs can leverage AI and Web3 for innovation and growth.

Time: 01:00:02
Legacy Pass Private Sale Details Unveiling the exclusive benefits and opportunities available in the Legacy Pass private sale for AI & Web3 enthusiasts.

Key Takeaways

• Understanding the intersection of AI and Web3 is crucial for future technological developments.
• AI technologies are rapidly evolving, impacting various sectors in the Web3 ecosystem.
• Web3 offers decentralized solutions that can revolutionize how AI is utilized and accessed.
• Innovations in AI and Web3 have the potential to transform industries and create new opportunities for entrepreneurs.
• The collaboration between AI and Web3 can lead to more efficient and transparent processes across different platforms.
• Entrepreneurs in Web3 can leverage AI to enhance data analysis, automation, and personalized user experiences.
• The Legacy Pass private sale presents a unique opportunity for participants to access exclusive benefits in the AI & Web3 space.

Behind the Mic

Introduction and Greetings

Sadeena. Sadeena. Sadeena. Sadeena. Yo, yo. What up? Morning. Good morning. Oh, good afternoon. It's good. Okay. It's good afternoon for me. How you doing, man? Good, man.

Show Discussion Begins

I'm gonna start the show by assuming you did not listen to the Trump Elon conversation. I had some of it on, but I just. It was, like, too long for me to listen to the whole thing. Well, you could have skipped through the first hour where he talked about his ear being hit by the bullet for a thousand hours. That would have saved you most of the time. It was a. It was a rambling mess. Yeah, I think, I was listening to him. I don't know, it was. It was a clip of him talking, and I feel like he's starting to get a little senile, too. He's not as articulate as he was seven years ago or whenever that last election was. And then I don't know if he's. I don't know what he's going to be like in four years from now. He's going to be four years more of this. But this is not.

Comments on Trump and His Interview

This wasn't meant to be an attack on Trump or not. Do it. Get them all in here. Where's Dustin? Get them all. I tried to get doc in here, but he's not gonna. I want. I want all the trumpers today. I want to trigger. I want to trigger all the trumpers. We do the opposite usually. I want all the trumpers in here, every single one of them. So I'd like to. I'd like to start. Welcome. Good morning, by the way. Welcome, Dan. Welcome, Joseph. Welcome, IP. Sorry, guys, I'm just walking for a second, so it might be a little noisy. Did any of you guys listen to. Well, I know IP nerd did, but in order that. I see, I see Dan, then Joseph and IP on my screen. Did you guys listen to the Elon Trump conversation?

Opinions on the Conversation

What were your thoughts on adultery? Yeah, I listened to a bit of it in the background while I was putting some code. I did, yeah, I felt it was a bit rambly and it didn't really get deep into a lot of the meat, I guess, which I expected it to. I mean, I'm kind of impartial anyway because I'm from the UK and we've got bigger problems over here of our own at the moment. So you'll definitely get an impartial opinion for me in this spaces today. But, yeah, I think it was more. I felt like it was more of a publicity stunt than a deep conversation. It didn't seem to be much on the bone, to be honest.

Speculation on Trump's Intentions

By the way, my assumption. So this is. Thank you, Dan. You brought up the thought ahead. My guess is this is just pure speculation, so don't make any financial decisions. My guess is that Elon invested indirectly in truth social in exchange for Trump to come back to XDev that supports truth social through the outcome of the elections, as well as his hold period on his stock. I don't see any other reason why he would come to back to X. Joseph Ip thoughts? Good morning, Mati. Morning, Saul. You didn't like listening to Trump and his yes man on the interview? It was great, rambling nonsense.

Critique of Trump's Communication Skills

I mean, it's. It's basically what he excels at. and I'm not for particularly either candidate, but it's always rambling nonsense. I mean, look, the guy can't string together to coherent thoughts, and it was just more the same. It was hard to listen to. and I didn't expect anything deep because it's never deep with, with Trump. It's like a third or fourth grade vocabulary lesson and a lot of repetition of buzzwords. So, yeah, it was quote unquote great, I guess. And yes, agreed. Hard to listen to, hard to follow, as usual. And, yeah, he's definitely slipped quite a bit in the last seven years. So, yeah, that's my thoughts, at least now.

Personal Reflections on Trump's Demeanor

Well, actually, I don't have any grandparents who are still alive, but now I would know what it would feel and look and sound like if I. If I slipped Adderall into their. Into their tv dinner meal. It was. It was wild to see the conflation and cacophony of a man who's clearly losing his. This is no insult to him. Like, we've on this space, and I've many times said Biden is an old delusional, like he's lost his shit. We are seeing, I think, a pretty rapid decline. Or are we seeing a similar cover up? That. Those are my thoughts.

Interactions and Clarifications

Sally, you got your hand up? Then we'll go to IP and Mati. Saul, you have your hand up. I mean, I'm in out of reception. I'll be back. I'm sorry. Oh, yeah, you were super offended by Elon, so please get some reception. Love to hear. IP thoughts on the. On the conversation. Yeah, nothing groundbreaking, that's for sure. A lot of it. Questions were being asked and you go, he go in a whole different direction. I do believe he's having. Cognitive abilities are slowly decreasing, unlike Biden where they were vastly decreasing. So I do think he's of sound mind that he could run the whole presidency without getting removed or anything to that nature.

Further Critiques on Specific Narratives

But it was a lot of us on talking points. Some of his narratives didn't match his past narratives. Like he said, they're talking about regulation. And he said, for everyone that they add, they want to cut ten to twelve. But if you actually looked what was in writing from his first term, it was two to one, and now it's ten to twelve to one. So he has this addiction to exaggerating, and there's nothing you can do about it. But that doesn't mean the race is over, because I believe that you could trot out any democratic candidate from 2012 or 1992 to 28 and. Or 2012, and they would destroy either of these candidates.

Conclusion and Final Thoughts

But they literally found the one person on the planet that Trump could beat an election. So now we're here. Yeah. So I. I guess when I made the comment about Trump's cognitive delay, I. Nothing close to what we saw with Biden at all, but I am starting to see that go. And I don't know how that's going to look in four years, but either way, it's not the topic of the. Of the space. Although I know Saul might want to get a word in.

Political Landscape and Crypto

Yeah, I mean, lots of unpacked there. I mean, I'm half Israeli, too. And, you know, while I applaud what, you know, Trump has said, I also see that, look, he's Putin's lapdog. Has been for decades. He's had property investments over there, has worked with Russian oligarchs forever. That's just fact. And, yeah, no, I don't. Please. When we're talking about the Ukraine war and saying Biden could end it, bullshit. Okay? Putin does what Putin wants to do, and he doesn't listen to any western power, never has for 30 years, and has basically gone around the world getting the KGB to assassinate anybody that disagrees with him. It's documented, it's facts. So, no, I don't think Biden or anyone else could have stopped that war. Now, in terms of policy, yeah, I definitely think most of us should vote based on policy, not, you know, and of course, bringing, steering the conversation back to policy. Look, Trump had four years in office. No one still has any clue what his damn policies are. Biden was no better. Right, but here's the problem with the checks and balances system. It's really hard to get policy passed, even if it's common sense policy. A lot of stuff was proposed during the eight years Obama was in office, too, and a lot of it didn't get passed because the staunch Republican Congress said, we're not passing anything that he suggests, just verbatim.

Challenges in Democratic Politics

So, I mean, they. And it swings back and forth, right? That's why checks and balances are there. So it's tough in democracy. I agree 100%. It's tough to get anything passed, even if it's common sense to most of the population in the country, in said country, just because those checks and balances exist now, stepping outside of that realm and bringing it back, like I said, can Kamala win the hearts of crypto nerds? That's the topic right here. Who knows? We don't know her policy. And you know why she's keeping it close to the vest of. Because Trump has this habit of every week of putting his foot in his goddamn fat mouth and self destructing, excuse my English, it's the truth. He just rambles, destructs, and doesn't say anything of substance. So she's letting him melt down. And I think it's the, you know, for her, where she's basically an unknown. And saying that vice presidents have any sort of constructive say over policy is a total misnomer. They just don't, you know, historically they don't. But, you know, she's letting himself destruct and keeping her cards close to the vest. And I think it's a smart tactical play for her.

Perspective on Election and Crypto

Would I like to know what the actual policies are if I could be a fly on the wall in the room? Sure. And I would love to have some kind of background or some kind of knowledge going into this election. I'm sure it'll come out, but, you know, she's got a couple of months to display it, and that's fine. But I don't blame her tactic when, you know, stuff like the Elon interview happens, stuff like, you know, Trump's rallies happen on a weekly basis, and there's enough juicy sound bites to undermine his own campaign. And then, you know, that's not even talking about JD Vance. Don't even get into that. But, I mean, look, there's enough there that she's banking correctly, so on it, undermining his position and weakening his stance among swing voters. And I think I would love, like I said again, I'd love to know her policies, but I don't think it's a must for her and her strategy at this point. I almost feel like the Democratic Party has been, the democratic campaign has been revived with her. And like were mentioning, that seems to be reflected in the prediction markets, which I agree with digital, not that anyone here would do this, but there are plenty of ways to get around geofenced applications for people in the US.

Skepticism towards Crypto and elections

I don't know if Kamala is going to, I don't know if she's going to come out and speak positively so publicly about crypto between now and the election. And I think even if she did, there wouldn't be enough trust because as several folks on this panel have mentioned, it seems to me that her administration, if she was to win, would be a lot of the same thing as we've gotten the last four years. I also don't understand why crypto needs to be partisan, but here we are, and I don't understand why that can't be put aside. And we can focus on more important things. Like several people have mentioned ending overseas wars and fixing the economy. Again, a lot of people in my circles, and I'm sure in digital circles, are pretty sure they're going to vote for Trump come November. And a lot of that has to do with the fact that this man came, regardless of if you believe him or not, regardless of if he's going to carry out half of the things he said he would if you were there for that speech.

Understanding Crypto Sentiment

A lot of people that were on the fence decided, hey, I'm just going to vote for this guy because my livelihood depends on it. My financial future depends on it. My passion depends on it. A lot of people love this industry and they want to continue to work here. And look, another thing that Trump said that I think really moved people was pardoning Ross Ulbricht on day one. A lot of folks in crypto see Ross as this kind of martyr. And Ross was put in prison for life to be made an example out of. I mean, he didn't hurt anyone. He didn't kill anyone. He built a website, he served ten years. And I think that he. That's enough. So they did allege that he ordered a hit. Yeah. Yeah, that's in there. So I've looked into that. I've looked into that. And apparently I agree. I don't believe that it's accurate. I'm just saying allegations, two things let's. Say that it was accurate, right? That's not what he was charged for.

Legal Accountability in Context

Like, again, as attorneys, if you're going to charge someone for something, then it. Was actually five hits, by the way. Was it five hits? Again, it was. Honestly, it was. And they didn't charge them with it, but they're definitely making an example. For sure. For sure. With that said, I think that a lot of libertarian minded people, a lot of people in the center, a lot of people that otherwise would note, vote, are going to go and vote for Trump, especially within the crypto market. Now, is that enough to sway the election in one direction or the other? I don't know. But again, some of the things that I see the Democrats running on, I don't want to go too far into the bathroom stuff. But if you look at young in Virginia, for example, he ran on that. He ran on the bathroom issue and he won. So I think it's going to be a toss up.

Assessing Kamala's Impact

I don't know if Kamala Harris and her campaign can put out enough on crypto to sway voters that we're going to vote for Trump or that we're going to abstain. But if they do come out and give full support, then I think the next question is going to be what one of the Vinkelwas twins says. It's like, okay, well, it's all talk, right? We've had you for the last four years and we've seen what you guys have done. The proof is in the pudding. Why don't you make some policy changes now? It was kind of like when she said. What was it? What did she say? That she's gonna fix the economy or something? On day one of her. She's gonna secure the border. Yeah, she's gonna secure the border. Like, oh, I didn't hear her say that. I heard, I heard her. Well, did Mati, did you say that? Oh, she definitely said that. Okay, so that's what I'm saying.

Government and Policy Actions

So it's like, if you're gonna run, she's in an odd position, right? Because if you're gonna come out and say, hey, on day one, I'm gonna do this and that, like, why aren't you doing it right now? Aren't you the vice president? Anyway, so a lot of hands went up. That was the point. I don't know whose hands went up first because I'm kind of staring. I think you guys had me next. I'm Danny. Yeah, go. For it, Danny. Okay, perfect. So I've got a little different perspective. I'm not here to argue about politics with anybody. I'm probably. There's a chance I'm the oldest dude in this room right now. I'm 62. I only bring that up to say that I have seen the landscape change.

Political Discourse Evolution

Yeah, we're missing today. Yeah. Remarkably. Okay. And. And so the point is that when I was in my twenties and thirties, if I was going to make a political point, I had to back it up with facts. Now people seem to just be able to back it up with sweeping accusations. For example, if we. And I'm not painted into Donald Trump's corner or anything else, but I do look at results and I ask myself the basic question, am I better off now than I was then? And I'm clearly not. And as a crypto investor, I'm clearly not. And very recently, Jean Pierre, the press secretary for Biden, tied Biden directly to the hip to Harris. Harris has not unacknowledged it.

Assessing Current Political Climate

Harris has refused to have press conferences. So we can assume the status quo is endorsed by Harris. Harris even said, I am always the last person to leave the room at important meetings. And she has said she's very proud of her record. So that's her record, guys. What the status quo is her record. Keep that in mind. Keep in mind that during Trump, we didn't have any wars. As far as the previous speaker saying that Trump can't do anything with Putin. Yes, he can. He kept Putin in his corner. How do you do it? He did it through the age old business of basically being able to connect and talk to people instead of immediately heading into war category. Now, he gets criticized a lot because, oh, let's take North Korea, for example, who, by the way, the little rocket man guy is out of control again.

Diplomatic Relations and Leadership

And how did that work? It worked very simply because first Trump told the guy, look, my button's bigger than yours and mine works. And then after that, as soon as he got the guy's respect, he became friends. Does that mean that he was doing the bidding of North Korea? Hell, no. And as far as Putin's concerned, there was a famous saying by Putin where he said, look, if Trump is my friend, I'd hate to see who my enemies are. He kept Putin in check. He kept Iran in check by saying, you can't do business with oil with Iran or you don't get any US imports. I mean, the guy has a track record. Go back, look at the actual facts, and when it comes to crypto, which is definitely my major concern right now. You have the status quo. You have Elizabeth Warren with Kamala.

Current State of Political Promises

Kamala has somehow avoided any. Any ability to talk about what her actual policies are, and the press is letting her get away with it. That could have never happened 2030 years ago. It's a strategic change. We should be aware of it, and we should vote our own interests. That's all I got to say about that stuff. Amen. See, Mary? Yeah. Hey, what's up? Physical? What's up, Noah? Good to be here. I wanted to touch on a few points that Dan brought up, and now Danny. Dave and Danny. Sorry, I. Honestly, in terms of. In terms of just crypto, because I'm sure that's what people care about here most. Let's be for real.

Crypto Insights and Political Implications

I was in Nashville when Trump came and spoke while he sounded like he didn't know anything about the space specifically. And I feel like that was painfully obvious. I think that's not what really matters. In fact, I don't think politics matters as much as people like to say that it does at all. Crypto is where it is right now because of the technology, all right? Because of the use cases, because of the potential that it has. Right. It's not because one party or the other is supporting it or not supporting it. In fact, we've done a lot in spite of that. While it is important, I'm not saying that it's not. I'm not saying that it couldn't give us a boost. In fact, I think it would if we had a red presidency.

Future Perspectives on Cryptocurrency

But I hear a lot of, too much of this doomer talk, as if everything's going to be over, as if we're all going to zero if we don't get a Trump presidency once, when in reality, let's be real. The technology is here. It's not going anywhere. The money is here. Blackrock is invested. Let's be honest, guys. Let's. Let's look at the facts. Let's look at the numbers. All right? Everything is pointing towards this being the future, and it has been for the past 1012 years. Okay. and I'd like to hear what you guys think about that, because I hear a lot of talk about. About this being the end of crypto if this election doesn't go our way.

The Future of Crypto and Policy Influence

So my only pushback would be. My only pushback would be we are. We are in potentially one of the last somewhat predictable or prolific bull cycles. We're literally, we are making a decision about which president. So I agree with you, Mary, that it's inevitable, right? And not because of the technology and not because of the US, but because of the rest of the world getting a foot up and being able to sway capital in a way that it hasn't had a, I believe, in a very long time. So I agree. It's inevitable. The question is, do we want to spend? And by the way, I'm incredibly socially liberal and I hate Trump, and I wish RFK was president because I think he's the best for Israel.

Elections and the Future of Crypto

I think he's the best for crypto. I think he's the best for morality and the future of our country. At this point, I don't see a path to victory. So the question becomes, as I said earlier, a very depressing option. And the fact is, Dave and Mati hit the nail on the head. The fact is Trump's greed and selfishness and egotism combined with this being his last ability to be president. Right? So he's not, whatever happens legally afterwards, obviously he'll clean the slate, but he's not bound to the future of his legacy. So this is the end of his quote, unquote legacy, essentially on a large scale stamp. He'll probably do, you know, tv and moving and shit afterwards. But the reality is, do we want to spend the next four years through our bull?

Cryptocurrency in the Political Sphere

If you really care about crypto fighting the rest of the world, which is what will happen if we have a blue presidency. And so, just like. I agree. But. But Red is. Red is better for our candles at the moment. Let's go to Alex and then Saul. Hey. I'm having some technical issues here, so hopefully this works. Yeah, I mean, so what I just wanted to say was just the, with regard to her policy. So, so far, what we know is she's coming out with her full policy apparently this weekend.

Her Economic Policies and Crypto

So by the end of the week, we should have a clear view of exactly what that's supposed to entail. And it may be divergent from Biden because, remember, the vice president doesn't really have a say in what the president's policy is. So as much as we would like to say, you know, yay, go ahead and make changes right now, we know realistically that's not true. I mean, can you imagine if Dan Quayle had a say in policy during Bush's term? That could have been a big disaster. We know vice presidents realistically don't really have much say. It really depends on the relationship of the vice president and the president and where they give them power.

Bureaucratic Powers and Transparency

And how much power is given, and we don't really have any real knowledge. And there's a lot of security reasons why we don't have knowledge in what that working relationship is. So we have to wait. Right. So we have some good information and some bad information in terms of crypto, in terms of what we think her policy might entail. And some of that is in what we see are her hires. Right? Like, we see who she's hiring for her team, and like, we see David Plouffe. Yay, that's good for crypto. Right. But then, you know, we see some of the other hires that are, you know, less great.

Historical Context in Cryptocurrency Politics

So some of them. Who was that one? I'm trying to think of who. Brian Deese and Barat. What is his. Rama murdy. Right. The ones that were the director, like the former director of the National Economic Council, the ones that are definitely not pro crypto. Now, everybody involved, all players, Trump and the Democratic Party flip flop enormously when it comes to crypto. So really what it comes down to is what do they think about crypto today? What are their current positions on crypto? Because we have kind of a, you know, if we look at historically, what people's actions on crypto, we have only the players that are private that we can say historically, like, okay, hire Michael Saylor, right.

Consistency in Advocacy for Cryptocurrency

Because we know that historically, he's been consistently pro crypto. Right. Or at least pro bitcoin. So, you know, we've got there. There are only a few players that we can say historically have really understood what this space really is. But we can look at from her hires at least a little bit of what, you know. We'Re losing you, Alex. You were good reception wise. If you get your reception back, please hop back in. I agree with a lot of you. Saying, oh, I don't know if you can hear me. I don't know. Whatever.

On the Future of Cryptocurrency Policy

You came like a bad out of hell. I was saying. Yeah, I can hear you. I don't know if you can hear me at all. No, but we lost the last 22 seconds. So could you hear, like, the picks that she's made at all? Beginning of it? Yes. Okay, some of the picks. David Plouffe. Yay. Right? The other picks, like Brian Deese, Bharat Ramamurti, not great for crypto, but all of the other, pretty much everybody in the space on both sides have had a history where pretty much everybody in the space has been back and forth on crypto.

Diverse Opinions on Crypto Policies

There's only a few players, most of them in the private sector, that have been consistently pro crypto. So there's rumors that she's talking to Paul Grewal. I don't know if that's true or not, but we won't know until this week when she actually puts out her economic platform, her actual statement of what her economic policies are going to be. We won't know what her actual policy is going to be and how she intends to view crypto. And I would actually say that is going to be less vague promise and more like this is how she intends to proceed.

Weighing Both Sides: The Candidates

What I want to see also is a clear platform from Trump. I want to see who he's planning on hiring moving forward. Like, I want to see more than just no cbdcs. Right. I want to also see what else is actually going to be done going forward. How are things going to be progressing? What I really want from both sides is a promise that the accredited investor rule will be removed. That's what I want to see. Right. Can we get that as a promise? Because this is actually the time that we as a group are the most powerful.

Lobbying and Political Impact

Can we get one side to promise that? Cause then we have something real. I'll vote for that side. Honestly, I can be flexible about most things if we can get that moving forward because that's actually the thing that's limiting most people from gaining real net worth going forward. So that's kind of like, let's look at what really matters here. So there's a difference between your key social issues and your key financial issues and then your key safety issues, right? I don't really want to hear about, you know, we're going to crack down on illegals.

Policies and Real Solutions

Well, how really? Because. Because we have to talk about how our, how is that really happening? Because for a long time, I don't know if you realize this, but most illegal immigration was actually stopped by paying Mexico to protect their southern border. I don't know if most people know this, but that's actually what, that's what we spent most of our money on. But then most of illegal immigration happens because people overstay their visas. How exactly do you intend to stop that? That's not about physical borders. That's about preventing people from overstaying their visas. How do you plan on doing that? Because that's not about walls and police.

Understanding Root Causes of Policy Issues

That's about figuring out how do you plan on doing that? What exactly are you planning on doing, dealing with to do that? Like, tell me that you understand the root cause. And then tell me that you understand how to prevent that from happening. I don't want random promises. I want people who tell me that they understand exactly why something is happening and that they understand how to prevent it. Don't treat me like I'm stupid. So the same thing with crypto is. That, Alex, they don't.

The Essence of Political Intentions

Right. And so what we're really dealing with, if we boil this down, and I agree, in fact, the accredited investor statement you made, it was pretty brilliant. There's no chance it happens. I've predicted, I predicted. My guess is that we see equity crowdfunding reduction, so it gets packaged that way. But what we're basically saying is, do we want to press? We have no idea what either candidate actually cares about. Kind of are agreeing that they don't actually care or believe anything.

Candidates and Their Influences

So do we want the president that is selfish and egotistical and what that leads to for the future of the country that doesn't have a next presidency? Or do we want a woman who's never been elected, who obviously will do anything for power and will likely want to stay in power again? And what decisions will that lead to? So does social, like the social left make her electable again? Or is egotism and rampant capitalism better for the country? I don't know, but what I'm saying is, like, let's just make them, like, fine, you, if you're seeking power, then make the promises that matter.

Raising the Bar for Political Promises

We're not forcing them to make the promises that matter. Then you know what? Like, look, if you're power seeking, then you're, we're not getting them to promise the things that are relevant to us. Right? And Alex, what I'm saying is I think that, I think what I think the kind of the distillation of what I'm saying is I think this says a lot more about us than it does about them. I'm going to run, and I'm going to run on essentially a platform of literally just giving free classes on series 82 and getting every single person qualified as an accredited investor in this country.

A New Approach to Political Engagement

That's what I'm going to do. I'm going to get every person in the country accredited investor and make that the most meaningless rule in the country. I'm gonna be like twelve and up. Everybody's eligible for free license for series 82. That's not a terrible idea. I get behind that. Saul, you've been waiting forever. Then Dan and Dw, Dave and Danny. Perfect. I'm here. I might be in and out just, you're good. You're good. Don't waste.

Critique of Political Practices

Okay, so I really, you know, I despise political adversaries in, like, the media. Like, when you see people going at each other, and avoiding. Avoiding the actual subjects at hand. It reminds me of, like, high school when, like, the popular kid would run against the dorky kid. Dorky kid have a better platform, obviously. You know, they'd be selling each other, like, oh, we're gonna make the soda machine free. It's like, you motherfuckers can't make the soda machine free. How you say that? You know? But, I just think, like, it's kind of pedantic.

Infrastructure Issues and Lobbyist Influence

A lot of the conversations surrounding politics right now, most of the issues are handled by lifers in politics, as we all know, most likely up here on the stage. No. So, like, we're basically, like, not paying attention to the writing on the wall, which. The infrastructure is actually broken, and it has been infiltrated by a bunch of lifers that don't care about our agendas at all, no matter what the policy. This is ran by lobbyists, let's be frank. Lobbies bought the platforms on both sides. They own both of them, so none of our opinions matter.

The Role of Lobbyists in Politics

And until we address that elephant in the room, politics will never move past that ebb and flow of where the, you know, the lobby wants them to be. You know, and unless we go the Bastille route, which then we're just basically giving the bourgeois the chance to succeed again at failing again. So, I mean, I think the best way is to pioneer. You know, land use is the most important fact I think, that we need to focus on if we're the core of a lot of the issues. All this stuff rests in land.

Pioneering Alternatives in Society

Most of it, most of the conversation that nobody wants to talk about it. But, you know, it's the last opportunity we have as Americans to, like, actually go into real pioneering. And I would encourage most people to take that venture more seriously than trying to cuck up to politicians to get something they're never gonna give you, because they can literally, it's like, they can't. They've been paid off physically in money. They have promises already to people that. Bigger bags than any of us in crypto, you know? So that's the way you need to soak in.

The Future of Political Movements

It's like, we got our lobby together, then we might have a fucking actual, like, power statement and a power play to make, but, like, we haven't got the lobby together. Weeds just starting to get ahead finally, because it's getting its lobby together and has been focused on that primarily for some time. Until crypto really establishes a lobby that's important, that has a real bag of money to put on the table, you know, we're not gonna see any movement and any positive flow that we want is gonna be the other direction every time. This is the most depressing space we've had in a while.

Personal Reflections on the Southern Focus

I want to go to, like, literally, I've been made incredibly uncomfortable by this conversation and saddened and more emboldened to finish my application to Portugal. Citizenship, Dan. And then dubs and crypto. Sorry, brother. Cheers, father. So I'm just going to frame my position on all this a little bit before I get to Kamala question. So, you know, I'm an og in this industry. I've been around probably longer than anybody here.

Critique of Political Usage of Crypto

And I absolutely fucking hate the fact that crypto is being used as a political policy to swing an election or to, you know, encourage voters to vote for a particular politician. The whole ethos of crypto and why it came about in the first place, Washington, you know, to be a hedge against governments and banks and large institutions and to give people a choice. So just the sheer fact this is being used as a political tool pisses me off no end, especially in the way that it's being used.

Slippery Slope in Policy Making

You know, treasuries and mining and all of these things, like, they're all things that essentially make price go up. Right. But that becomes a slippery slope if these policies are actually, you know, adopted by the next administration. I've written a couple of articles about this. I won't get into too much detail now, but it becomes a potential domino effect that you'll get short term gains in terms of price go up, but you'll have long term misery in terms of centralization, censorship, and all that nasty stuff that this technology was, you know, supposed to solve in the first place.

Evaluating Kamala's Crypto Strategy

Right. On the Kamala question, I think she's in a bit of a rock and a hard place in terms of what crypto policy can she actually present that's going to excite voters, especially crypto voters, more than what RFK and Donald Trump have already come out with. Right. And it's quite genius for them to come in so hard on the whole crypto political spectrum because, you know, most things in policies and manifestos and stuff, they're kind of long term plays, and there's no real immediate effect or direct effect felt by the voters.

Immediate Impacts of Treasury Actions

Right. But in this case, you know, if there was to be a large US treasury where there buying or mining bitcoin in large amounts of numbers. Now, that's going to have a direct impact on the value of my portfolio. Right. And voters are human, and human psychology is humans are going to look out for their own best in self interests, whatever that may be. And I struggle to see what Kamala can come up with that is more exciting than what Donald Trump and RFK have already suggested. Plus the fact there's a lot of, you know, baggage and ill will on her side of the fence when it comes to crypto in the first place.

Implications of Political Background

So I don't actually think that she could win the hearts and minds of crypto nerds because there's that baggage already. And what is she actually going to propose that the other two candidates already haven't proposed? They'd have to be something more than what they've already got. But Dan, let's go one step deeper. And just so a lot of what you've said, a lot of what Alex said, a lot of kind of what we're dancing around is what realistically unfolds. So in the next week, I know Alex made a point of saying she's going to put, she implied that she's going to put her existing opinions to paper.

Assessing the Candidates' Positions

I don't think she has any existing opinions. Just like I don't think Trump has an existing opinions. None were elected. Besides for obviously, Trump got elected the last presidency prior to that. And Kamala has never been elected, so she hasn't had to have an opinion. Right. So it's just been what gets her forward. So she's sitting down. She's sitting down with people around her. Who are the people around her? Let's say it's, let's say it's Saturday afternoon, she's in the Hamptons or whatever, right? Laughing, sits down.

Crafting Future Policies

Who is sitting down with her and what are they making up? What are they writing? Like, I think that if she jumped on the crypto bandwagon hard at this stage, I think that would actually be detrimental because then it just becomes, oh, she can't come up with her own stuff and she's just jumping on the crypto bandwagon with the other two guys, which may not be a bad thing in terms of crypto because then everybody's promised the same thing. And so at least to some degree, might take crypto out of the voting decision.

Voter Priorities Over Crypto

Right. Everybody's, everybody's behind crypto now. Okay, so maybe I should actually vote on, you know, real issues as we're discussed earlier on, wars and education, infrastructure, immigration, all those things that are important and they aren't so much of a direct self interest catalyst for voters. Right. But, but, Dan, she can't go positive on crypto, right? Like, the fact is that whether, but I'm not gonna, like, get into that. She's brave enough. I mean, you know, like, but she.

The Political Landscape Shifts

But she's not brave. Right? We already agreed that she wants to get elected again because she, but she's not, she's not going to be brave.

Competency and Candidate Evaluation

The same money. She's not brave. Wait. Because she is not a competent candidate. And she is the candidate because she's an extension of an attempt to continue the Biden, the whatever the money behind Biden has been. So she's not a voted candidate. She's not a competent candidate. She hasn't proven competency. She, she's a lawyer, so she can definitely carry herself. And in fact, I would say the worst thing Trump could do is do what he did with Elon. Like, just don't go public, don't have conversations. I think stay hidden. She's going to be really smart with whatever policies she puts out there if she's not going to get on the crypto route, because, you know, the crypto route is an easy win. Right. There are millions and I, millions of crypto holders in the US, and they're all very disgruntled about the current state of things in the US. And it's a somewhat quick win to get people on your side.

Crypto Policies and Political Maneuvering

If she's not going to go down that route, then she's going to have to be real smart about the policies that she puts out in order to capture those crypto versions. So let's be honest. We're just going to step back and then, Dave, I see your head up and. Guys, 1 second. Here's. If she goes, quote unquote, quote pro crypto, right, and we all agree that the money behind her won't allow pro crypto actual impact, she could fire Gary Gensler. Right. But I don't think she'll actually do anything for crypto. Right. So you could say, like, I'll follow, fire Gary and then replace her with Elizabeth Warren. Not actually Elizabeth Warren, but like, it's not real. So it wouldn't be weird. But, you know, people can be very short sighted in what is real and what is not right and have short memories, especially if there's a big carrot dangling in front of them.

Government Impact and Market Dynamics

So, you know, she doesn't have to act on that policy. Right. And she'll be very popular. But if she just wants to get the seat in the White House, then not going down the crypto road, in my opinion, makes it a bit harder for her. I agree. I want to go to. I agree completely. And by the way, I don't prepare for these shows. So we're literally having this conversation live, and I'm getting more and more disgusted by the democratic party and try to, like, if we drill it down and I'll go to crypto because I understand it for a while, then I want to go to Dave. If we drill it down, we're literally. Are we voting for the bankers or are we voting for technologists? Right? Like, let's be honest. Elon is pro Trump because he'll reduce regulation, make it easier to build technology, and get his companies lower taxes so they can be freer to have his companies wherever he wants and he can get to Mars quicker.

Realities of Bitcoin and Global Markets

That's basically what's happening. Crypto oracle. Welcome, brother. Thank you so much. Thanks for having me on. I think you said this is the most depressing space. I was like, you haven't talked to me yet. So my name's Jerry. I've been in space since 2016. I've worked with Mahdi. I'm a technologist. I know python. I know HTML. I know some solidity. But let's get to the matter at hand. It doesn't matter. It doesn't matter at all one iota, because it's bitcoin, y'all, you should all know this if you're a nakamotoist, right? So if you're somebody who believes in proof of work model, right? So if you believe in bitcoin, litecoin, dogecoin does not matter. However, if you believe in Solana or Ethereum or any one of these censorable crypto blockchains, yeah, you should be worried because that it does come down to Trump or Kamala.

Political Landscape and Bitcoin Acceptance

but if you're a bitcoiner, doesn't matter at all. but some of the good news that why it doesn't matter. Right? So the other day, Putin just signed in a law that bitcoin mining is now legal. So if anyone thinks that the intelligence community is going to tell anything, but, oh, we have to do this now to Kamala, Trump, RFK, anybody running, that's where we're at. You have to realize this has been an ongoing space race since 2018. I warned that China and Russia were working together to literally make it appear like they don't give a shit. Until China kicked out the miners, they really weren't doing anything physical on the ground. Now, look at where China is. China's economy is literally on the edge of a knife. It is literally 40 banks collapsed two weeks ago in like two days.

Bitcoin as an Economic Tool

So again, it doesn't matter, right? If you want to try and make bitcoin illegal, you will follow the way of China and you will destroy your own economy, because bitcoin is the apex predator, right? I have to explain this to people that don't understand economics, or even some people that do have a degree in economics, right? Bitcoin is the only asset in the world, right? In the world that can eat dollars, gold, it can eat property, it can eat methane flare, it can eat, literally coal waste, right? It can do all of these things that the dollar can do that gold can't do. So again, people are just starting to come to these realizations, right? Look at ExxonMobil. When Saudi Aramco has starts taking bitcoin for oil. Again, it doesn't matter who wins, right?

Support for Bitcoin Legislation

I have a degree in political science. I tell people literally what's important right now. Everybody getting behind Senator Lummis and supporting the bitcoin reserve bill. I've been talking about that. Ask Maddie how long I've been talking about that shit for. I've been talking about, know, putting ASIC miners under the control, the federal government, for like four years, right? I call it the bitcoin, what is it? The bitcoin mining authority, right? And basically what we do is, right, we are going to set up a new entity in the government. The government is going to get a little bit bigger because of it. But what it does is it goes around from every town in the country and it finds wasted energy and energy projects that need to be built.

Government's Role in Bitcoin Integration

And then on the other half of that project, we put in Asics, and then everything works, right? Bitcoin is the carbon credit, right? It makes solar farms actually work. It makes wind farms actually work. Ted Cruz just said that the other day, and I was like, I can't believe I'm agreeing with fucking Ted Cruz. But somebody's getting it, right. And I hate Trump. I can't stand the guy. But guess what? China fears him. Putin fears him, because he is a wild cardinal. And whether you like him or not, that keeps those douchebags in check, right? But it still doesn't matter if. If you really.

Addressing Wealth Inequality

Crypto, crypto. I have two wild things to say. One, only because you mentioned Mati. I actually grew up with Mati since I was a child, and we actually reconnected when I was in Israel living for a while. That's the first wild thing. The second wild thing is, and this is actually, this is going to support your thesis, right? So I presume you're Og crypto. I'm Og bitcoin. The core tenets that started up everything was decentralization, kind of conceptualizing borderless world, right, where water doesn't matter in terms of creating differences. I haven't heard one person in this space say anything. And it's a good thing about being a usaer, right? Like what's the best for the country? We're all talking about what's best for humanity, and I think that's a good thing.

Consumer Protection in Cryptocurrency

I think that reflects, and I think that is bitcoin winning. I think it's eating up ethics. I think it's eating up morality. I think it's eating up social constructs. So I think we're winning. But, but I disagree with you fundamentally. Long, long term, as a bitcoiner, you are correct. It's inevitable. Right. It goes to the same point. The controls of governments or artificial abstract limitations on regulations based on physical location is going away. Right. The Internet was the beginning of that. We're far beyond that. What Alex said in terms of credit investors access information, I agree. What we're talking about now is the next four years. And I disagree.

Initial Agreement and De-risking Approach

Yeah. I don't know, like for the minute I'm here. So, yeah, I mean, I agree so much with a lot of the points that Dave was bringing up earlier. You know, I do believe though that, you know, it's still possible for us to have this crucible of de risking, which is the thing that VC and angels love and is what they think that the accredited investor period allows is this period of de risking that allows value to greatly increase and demand to build. But I don't think we need an accredited investor period to make that happen. Right. I think that we need to rethink how we do offerings and what we can do with these offerings. We can do different things.

Business Models and Wealth Creation

I think the problem is we're not really thinking about a lot of the businesses that are being built. And I'm not just talking about things like Ethan and Bitcoin. I'm talking about the real solutions that are actually being built, that are businesses. We're not really thinking about revenue models and about future growth and the need to build a real ecosystem that builds wealth, that can recirculate within this ecosystem and continue to reinvest and build more money, that reinvest in new projects, that this is how we build this ecosystem here, we reinvest in ourselves. That's how Silicon Valley was built. That's how a lot of biotech was built. The ecosystems have to reinvest in itself and that requires building some amount of wealth, which one part of that is having a period of building up demand while de risking.

Rethinking Wealth and Exclusivity

So we do have to start thinking about this as a business. But that doesn't mean that we have to use the traditional methods like keeping people out, which is what VC's and angels think is required in order to build wealth. You don't have to be exclusive in order to build wealth. That's the thing is that we actually can build wealth without being exclusive. What we have to do is realize what exactly builds wealth. So just when we're thinking about things, I just want people to start thinking, like I was mentioning with like, you know, when you're thinking about things like immigration or other things, what really causes something? Don't jump to the first thing that everybody jumps to, which is like, oh, it must be this.

Investigating True Causes and Solutions

Everybody says we have to do this well, really think through problems and think, you know, we all have to start doing this, which is what is really causing a particular problem. Is it what has you know, what used to cause that problem? Is it what everybody says causes the problem? Is it what fear mongers say causes the problem? Or is it something different? Can we attack things differently? We're doing things differently. We can attack things differently. Not everything requires someone evil that we have to. Like, you know, if only we get rid of something evil, then that's what's required in order to make everything better. Not everything is us against them.

Reassessing Political Divisions

Like, I feel like, you know, it's, you know, Trump is good and Kamala is evil, or this is good and that is bad. Like, we have to start separating ourselves from this kind of thinking of, you know, this is good and that is bad. Maybe there's something different, right? Maybe there's a better way to do it. Just like, you know, crypto offers an alternative. Maybe there's an alternative way for us to start thinking about problems that isn't just, you know, us versus them. I would really like for people to start thinking about alternative ways to look at problems that are not as black and white. And I know it's so much easier, especially because everything seems to be us versus them.

Finding Common Solutions

And we love our friends, and our friends all say, this is us, and we all love the way we look at problems. We like our solutions, we don't like their solutions, but sometimes their solutions are better than our solutions. Sometimes our solutions are better, and sometimes their solutions are better. And sometimes neither of us have the right solution and we have to look for something else. I just would like to start, you know, looking for individual solutions for problems and not really caring who thought it up. That's really what I would love to start. I mean, I wish we could go back to that where we're not actually, we don't care so much who figured out how to make something better, just that something is made better.

Focus on Effective Solutions

So I don't really care, honestly, if Kamala has a better solution for the economy where we're not going to this extreme. Like, you guys noticed that the wealthy are getting much, much wealthier and the poor are, the class of poor is getting bigger and bigger, right? I really don't care if the person who fixes this is red or blue or green or whatever party. I really don't care. I would just like the problem solved, right? I would like people working on it. So I really. I would like for us to start approaching this as more like whoever is working on a problem that seems to work, let's just, like, work on that solution.

Shifts in Perspective on Government and Society

And then if a different party has a solution for another problem. Let's work with that solution. So maybe less party focused and more solution focused, and that's all. Amen. Yeah, I couldn't agree with that more, Alex. All great points. And we go around and just get people's final thoughts or closing thoughts as we start to wrap up the space. Dan, this isn't really a closing thought. This is a big thought. But I didn't want to interrupt the very energetic bitcoin guy and, you know, kill his mojo. So I've kind of said on it a little bit, but I just want to, like, address the bitcoin reserve thing, right.

Concerns about Bitcoin Reserves

I've spoke about this a lot recently. I've done a lot of critical thinking on it. Maybe I've mentioned it in one of your spaces before, Noah. I'm not sure, but if I have, maybe it's worth repeating. Right. The whole bitcoin reserve, you know, lots of mining happening in the US, like federal mining programs or whatever, that's. That's potentially a really bad thing for not just bitcoin, but for crypto as a whole. Right. And if you think about it and break it down, you should be able to come to the same conclusion. So let me just paint a little picture and I'll get to this quick.

Potential Control by Nation States

I know you want to wrap up, right? And I've written some articles on it, so if you follow me on. No, take your time. Take your time. Oh, yeah. Okay. So, you know, you want to get into the detail. Follow me on Twitter X, whatever the fuck it's called these days. And I go into a lot more detail with this in an article on my profile. But basically, let's just assume that the US buys up lots of bitcoin, whether they're buying off market OTC or they're mining some of it, whatever. And they hold a large treasury of bitcoin. Potentially it's in the hundreds of millions or billions or trillions, whatever, right? That's a large amount of treasury in a network that the US doesn't have much control over in terms of the protocol.

The Future of Mining Operations

Right? So for peace of mind, what are they going to do? They're going to do the same that every high net worth individual does that holds large amounts of crypto or bitcoin is they're either going to run and scale up their own mining operation or they're going to invest in mining operations for peace of mind. Right. We don't want the network to get 51% attacked. We don't want the network to do short term rollbacks to make transactions disappear where we've purchased some bitcoin, right? We want to have some peace of mind that we've got some skin in the game in terms of hash power and network security. So the US will do that, right? And they can.

Impacts of Rising Hash Power

They can print more dollars to buy more hardware to subsidize that whole operation to protect the bitcoin. So the US hash power is going to start to rise, right? Then maybe some other countries, see, hey, the US having this large amount of bitcoin on their treasury, that's actually done wonders for their economy. So we'll follow suit, right? Some of the european countries, the UK, whatever, they do the same thing, start to buy up bitcoin, crypto, treasury and stuff. But then it gets to the point where maybe the US has got a large amount of hash power, where they have quite a lot of influence. And some of these other countries are like, okay, yeah, we're friendly with the US and stuff, but what if something happens to the US, right?

Global Competition for Control

We would like some peace of mind that our treasury is also secure. So we're going to throw some hash power in, too. And then you get Russia. Russia, who has just signed mining, is legal in Russia. So is Russia going to want to be kind of playing second fiddle to the US and the european countries? Its citizens being able to move bitcoin, its citizens being able to pay for anything, its banks, its large corporations that may also have bitcoin on their treasuries? Is Russia just going to sit back and beholden to the whim of the west? No, of course not. Theyre going to throw in some hash power, too. Right?

Decentralization and Power Concerns

And the issue is, once this compounds around all these different nation states that jump in on this wholesome treasury, throw some hash power in, or stake, whatever the means is, it's Sybil protection against network attacks, they will all pile in on it. And the issue is, of course, that they can always print more of their national currency in order to accumulate more resources to stay in this race. I always want to have 10% of bitcoin hash power, regardless of what the US is a ratio to the US or to Russia or to any other country, right? And they can just print fiat, backed by their treasuries, which are in crypto, to just continually keep their position in this hash race.

Implications for Decentralization

Now, what does that mean for the rest of us, though, right? What does that mean for decentralization? What does it mean for censorship? What does it mean for, you know, control of the network? Well, there comes a point, potentially, where the bitcoin network, or the crypto networks, are completely controlled by nation states, and they're all happy because they're all protected against each other in any rogue nation states that may want to attack them. They've all got each other's backs in terms of their treasury protection. It's perfect for them. But for us guys, the hash rate is going to be so high, the amount of stake required is going to be so high, that all of us guys that are big players in the crypto space today are completely irrelevant in that picture.

Growing Control and Censorship Risks

In five or ten years time, then what happens? Well, of course it is ripe for control. It is ripe for censorship, right? The european countries can all pass legislation that agrees that these certain addresses can't make transactions on this network. Social, credit, if and when that turns up, this person's been naughty. They posted a meme about something we didn't like. They can't transact on that on the bitcoin network, and we'll make sure that we sense of those transactions. Self custody could become a thing of the past, right? Any, any administrations that are completely malevolent to crypto that come into power in any of these nation states, it can just cause complete havoc.

Concerns about Short-Term Gains

And this golden prize that we had of a choice, right? Decentralization, anti censorship, anti fragility, hard money, all these things, we just throw it away because short term price go up. What are, what are the statistical chances that you think something like this happens stands? I would say it's very high, right? Because nation states that hold large amounts on their treasury, then they're not going to like having no control. Right? That's why they're all part of all the various committees, organizations and stuff that regulate money on the planet, whether that's fiat money, whether it's gold reserves, whether it's anything of value as a commodity that generates capital inflow or can sit on the treasury, they're all involved in controlling that particular asset.

Concerns about Government Control

What makes you think that crypto would be any different? They want to have control, even if it's controlled just to protect their own treasuries to start with, you know, for a fact that'll leach into other areas and they'll want more control for, you know, the safety of its citizens. Right. All these things will start to leak in, as it always does with governments when they are in positions of influence or control of something. We should not be cheering governments holding large amounts of crypto on their treasuries. We should be cheering governments getting involved in sensible regulation.

Government's Role in Crypto Regulation

Sensible, you know, like protections for customers, for their citizens. Right. With all those practical things that can push crypto as an industry and as a technology forward, we should absolutely be championing those kind of actions from governments, right. Like clearing the path for crypto, working with, you know, crypto companies and thought leaders in the space. But the government being actively involved in, at a protocol level, that's a bad deal. Wouldn't they have to have influence over 51% of the network, though? It's not about the government. An individual government controlling the network. Right.

Possibilities of Control by the US

I mean, the US for sure could. Absolutely. It has the resources where it could acquire enough hash power, enough stake over a period of time that it could control any network it wanted to. Right. It's a medium long game, but they could do it slowly, covertly, take their time. You know, there are some other implications about that as well, but it's possible to do, right, because essentially governments are. They don't have really any upper bound on limits, especially when it comes to money in the fiat system.

Risks of Government Involvement

Right. So they could absolutely put themselves into a position of power. And in one of the articles, I actually go through the details of how much it would cost for the US. To take 51, 66 million a day. Yeah. So it's not much so much about taking control of the network. It's just having some peace of mind regarding the treasury. Right. And then if other governments follow suit and they're your friends, then between you have a lot of peace of mind about all your treasuries.

Potential Outcomes of Government Actions

Right. So it may not necessarily be about controlling the network, but the end effect would be if a lot of nation states take the same action, because they see benefit and they see, you know, positivity in holding these assets on their treasury, the end result will be that the network is essentially dominated by nation states, even if it's only for their own peace of mind initially. Right. Because the cost to entry for any of us in terms of how much hash power we would need to have for it to be meaningful for us to enter, or how much stake we would need to acquire for it to be meaningful for us to enter, in terms of rewards and incentivization and stuff, the cost reward ratio for private systems, citizens and private institutions and corporations, unless they're very big and have large treasury balances of their own, doesn't make any sense.

The Original Ideals of Bitcoin

The whole ethos of this was initially in Satoshi's bitcoin paper. One cpu, one vote. Okay? Things have changed a little bit since then, but the idea was anybody can participate, whether you're an individual, whether you're a corporation, whatever, right? Anybody can participate. It's free to entry, but we run the risk of being in a position where everybody can enter, but the participation essentially doesn't exist because it's so costly. So that's just my doom monger hat on the way that I've looked at this over the past few weeks, and I don't see any other way that this plays out if the US is to adopt that policy of having a.

Concerns about the Future of Bitcoin

A large treasury and mining as much of the remaining emission of bitcoin as possible in the US. So the concern isn't the US controlling a substantial amount of the hash power, but it's a coalition of the US. It's a domino effect, in my opinion. Yeah, the US controls a lot of hash power, and other nation states either want peace of mind in case something happens to the US and they disappear. What happens then? Does the network get attacked? What happens to our treasury? If the US was to shut off all that hash power immediately, then is the network in a vulnerable state?

The Importance of Mineable Bitcoin

And as the UK government, my trillion dollars of bitcoin reserve that I have, is that at risk at all? Well, it's much better for me to just have some hash power in the network anyway. So if that does happen, at least I've got some influence in the network, right? So what starts off as being purely a peace of mind thing collectively becomes, hey, we control this network guide. How did that happen? Okay, let's implement these measures, right? Let's go really strong on KYC or AMR or, you know, stuff like that, right?

Control Over Bitcoin Transactions

And in the worst case, like, in the case of countries like Russia and Iran and all these other countries, if they hold bitcoin on their treasuries, then the western countries, if they make up more than 51 or more percent of the network hash rates, they can prevent the russian government from liquidating any of their bitcoin reserves that they might hold on their treasury or the Iran government or anybody else that they don't like. Right? Russia obviously isn't going to stand for that. So Russia will enter with some hash power, too, and as will all the other countries.

Future of Nation States in Crypto

You just end up in this position where it's completely dominated by nation states, right? I mean, they all control hash power, but are they going to. In this scenario, are they going to collaborate together to censor? Well, of course, because you've got NATO and stuff where they already collaborate on things like wars. So, hey, we can put some sanctions on Russia and if we all agree to it over conference call, we can stop them spending any of their bitcoin as well. Amazing.

Impact on Individual Users

Okay. What about russian citizens? Them, too. Oh, what about this guy over in the UK? He's been doing some dodgy stuff that we don't like the way things are going in the UK at the moment. Post a meme and be arrested. So, yeah, let's stop him from transacting on the bitcoin network, too. And this particular group of people who have some particular opinion on some particular political issue, let's stop them as well. They just have complete control over crypto assets in the worst case.

Future Challenges for Bitcoin

And the minute they realize that there's potential for trouble. Yeah. I don't know enough about this. It's. Something tells me it's a lot harder than you're making it out to be. I don't have. Really isn't. I don't have enough. In the case of bitcoin, it is literally just about buying hash power and turning on. That's it. That's all it is. Can we get warehouse or collaborating with that hash power? Right.

Potential Government Collaboration

But, you know, if. If the UK and the US have some agenda that they're aligned on, then it's a simple phone call. Let's do this particular thing against this particular third party, whether that's an individual corporation, nation state. Yeah, okay, sure. UK and the US are together. Right? The US then calls the EU. Hey, guys, this is potentially bad for national security or whatever other reason they come up with. Between us, we've got 60% hash power. Are you going to join the gang? Yeah, sure.

Consequences of Governmental Control

Yeah, yeah. We'll join the allies. And then suddenly you have a network that's completely controlled, and normal people might get caught in the crossfire. Well, this sounds like a can of worms we can open on another space, because I'm sure if I got enough bitcoiners on here, there would be a firework of a debate. But from a logical, pure math, critical think perspective, this is not hard to pull off if you're. If you're a nation states.

Capturing Attention and Control Through Policy

So, you know, the debate will be interesting, for sure. Danny, what do you think? Thank you. On this last subject, I'll just remind everyone that right now I believe 80% of the hash power is coming controlled within less than 20% of the bitcoin addresses. So we already have some element of control by some group of fewer people. But this leads me to my larger point, and I've heard this said elsewhere already, I sort of said it, but I want to put it in a new perspective, you can trust people generally to do what is in their own self interest.

Trust and Self-Interest in an Economy

That is really my point. And so if we look at the spaces that we're in right now, I've heard some pro elon stuff, some anti elon stuff, and absolutely, from a pure monetary viewpoint, the acquisition of Twitter, turning it into x, is probably his worst investment he's ever made in his life. However, when you reach a certain amount of wealth, money is no longer as important as it used to be. The next thing becomes your legacy. And I believe that we can say pretty much whatever the hell we want on spaces or post on x with some element of limits there if we go too far.

Limits of Expression in Free Speech

But the key is what is too far. We just witnessed the government of Great Britain have a bureaucrat come in and interfere with us elections, saying it was too dangerous for british citizens that might listen to the spaces between Elon and Trump. And because they are such fragile people, I guess they were going to go riot and burn down London or something, because they would be listening to information that doesn't even pertain to them, but pertains to the us presidential election. That is what is always used right now, and it's called disinformation.

Historical Context of Censorship

In the book 1984 by George Orwell, it was called, I believe, newspeak. And they had something else called doublespeak. Doublespeak is taking both positions at the same time and saying they both can be correct and we hold both of them to be true. What that does is it frustrates the mind to the point where you just become accepted of whatever gruel you serve that day. Now, I would take into consideration something as simple as the tips. Remember, tips are not going to be taxed.

Manipulation of Information and Policy

And Kamala now has this idea, oh, I've always wanted this. At the same time, she is, admittedly, she will. She has told you, at least I'm old enough to remember three months ago, she was telling us that at every damn meeting, she's the last person out. And she supports Biden. She also told us Biden had all of his critical thinking skills until he was caught red handed. She has lied and lied, and that is. And now she's taking different positions. That is what we would call news or, excuse me, double speak.

Political Jargon and Legacy of Leadership

Yeah, I was right then, and yes, I'm right now. And the two don't hold congruent. You can hate Trump, you can say he's mean, you can say he's nasty. I'll agree with all that. But the MF always tells you what is on his mind and he doesn't try and sugarcoat it. Secondly, what is in it for Trump at this point? Well, I would argue it's no longer monetary. Becoming president is probably the worst financial decision he's ever made. His net worth has gone way down. Can check it. It's a fact.

Reflections on Legacy and Leadership

He's got all these lawsuits and these people after him. But remember what he wants now. He's at the end of his life is his glory. Now, I'm only 62, but I can tell you I think about the end of my life much more now than I did the first half of my life. And as you grow older every day, you will consider your doom a little bit more each day. Where are you going? I'm not going to get in to that, but you're going to start to think about that kind of thing. And clearly Trump wants a legacy.

Political Alignment and Commitment

Lastly, I'll remind everybody this, somebody said, oh, you, these politicians can never do what they say they're going to do. Trump's very careful. He said he would make a strategic reserve out of the bitcoin that is already in the treasury. He didn't say he would add new. He probably will, maybe, but he's not promising it because he isn't prepared to do that. He's prepared to do the opposite. Now, what is the current Kamala Harris administration done? They've sold off most of the strategic reserve so they can stick it in Trump's face and go, haha, you can't do that.

Trust and Accountability in Leadership

But my point is, if you trust somebody to vote for what is in their best interest, and when he was president, he said, I'm going to build the wall. They said, you can't do it. We're not going to have enough votes. You're not going to do it. He used executive orders borrowed from other treasuries and got it done. Whatever the guy says he's going to do, he's most likely going to do. You sure as hell can't say that for Harris. And as far as our crypto bags are concerned, well, it's pretty obvious what the best way is for us to vote.

Final Reflections and Takeaways

That's all I got to say. All right. I'm crypto Oracle. Thank you. Thank you, Danny. I appreciate that. Yeah. I mean, just to go back to my point from earlier and to elucidate on that, it really doesn't matter and there's plenty of evidence to support this, right? This is not me. Just like being just conjecture here, right? This is, there's plenty of evidence. Let's just go over some of the evidence. Right. So first off, the IMF has threatened multiple countries with loans.

The Influence of The IMF

Right? If they don't kick out the miners from Paraguay to Argentina. Again, I don't know how many. I want to say it's like six or seven countries they've threatened with their loans. And then they, those countries have complied and then gotten the loans. And what has happened? Has their countries improved? No, it stems the tide. That's all it does is stem the tide. The other thing is Larry Fink and team are stacking in the ETF. They are as a team. They are. Their customers are.

The Future of Financial Dynamics

Again, and I predicted this. I said that billions of dollars would come into the ETF. That's where we're at. And the other thing is, they're buying securities again. They're buying t bills. They just bought 50 million the other day. I just looked at the securities buyback program. They're going to be buying 150 million every like two or three months for a little while. That's not enough. They have to put by at least 150 billion. Right. But as soon as they start buying securities, these t bills again, bitcoin loves weak paper, so it doesn't matter if it's team red.

Implications of Monetary Policies

Team Blue, let me explain it one level more, because Team Red is going to print more money, cut taxes and give it to the bank gangsters. Team Blue is going to. What are they going to do? Oh, they're going to raise taxes and give it to social programs. So it doesn't matter. Again, it doesn't matter. Bitcoin is going to be fine. Will it pump a little bit harder if Trump is elected? Probably. But in the long term, it just doesn't matter. Bitcoin was designed for this crap.

Bitcoin's Resilience in Crisis

Look how it did during the pandemic where everything looked like, it looked like the end of the world. And what did bitcoin do? It, it didn't flinch. It only cares about a couple things. Right? Bitcoin cares about block times and difficulty and weak. And once in a while it cares about weak paper. That's about it. And thank you so much for letting me speak. Great space. Enjoyed it. I have to head out, so thank you so much.

Conclusion and Future Discussion

Yeah, thank you for coming on. Take it. Let's go with Kimani and then we'll wrap it up with Dave. Perfect. Hey, all. It's been a minute since I've done spaces, but, you know, I'm back in action. I'm a behavioral scientist via cognitive linguistics, and I came into blockchain seriously, in late 2020. And I view it as a language of authenticity. I view it as a global language of human authenticity that we've never experienced before. And the greatest thing about it is one of the biggest topics of this conversation is permission.

The Nature of Authenticity in Blockchain

So we're all waiting on, I guess, permission or permission slip. I don't know. You know, and really, the regulations that have been in place for 100 years, even as obsolete as they might seem for some of this, some of. Some of the ways this networks now, they're pretty easy to abide by and pretty easy to avoid committing wire fraud and things like that. It's public notary service for authenticity, authentic information, authentic finance, authentic a new material good that I call impact with a capital I.

Economic Impact and Property

We can now title our economic impact as property, anchoring its compound value in a permissionless way. And that's the ultimate threat, because really, the economy is very much so largely still enslaved via compound value, via the revenue streams that we all produce through our ideas, our intellectual property, our labor, that goes on to create what, again, material impact, which is already titled this property. It's just not yours. And that property then produces the compound value for its owner.

Autonomy in Negotiating Impact

So now we can negotiate our impact on our terms, anchoring our own compound value, and we can do it in a permissionless way. We don't need a way for a permission slip. So I, you know, the heart of the room is about, can Kamala win the hearts of crypto nerds. I have a feeling that they're not going to swing hard in any sort of messaging direction before the election. And I have a serious feeling that this group, that if Harris wins. I.

Policy Direction Post-Election

Have no dog in the fight. So it seems to me that's kind of the inevitability here. If she wins, I actually think they're going to take a serious approach to this technology and not be this knee jerk sort of casper the unfriendly ghost like Liz Warren's been. And we will actually find some sound policy, some sound regulation, and some use cases that will be spread into our daily lives. And one of those use cases will be our economic impact as our property, anchoring its compound value to the specific contributor that created it.

Final Appreciation

So, anyway, thank you all for listening. Appreciate you. Brilliant. Appreciate you as well. Dave. Do you want to give your final thoughts? And then we'll wrap it up? Yeah. Two things. First, I hope the last speaker is right, but every single thing in her past life as a senator, her tie breaking votes as a vice president have been toward more government control.

The Dichotomy of Control in Bitcoin

Versus rather than markethood. And bitcoin and crypto are 100% towards more decentralized or less government control. I don't believe that they'll do anything other than try to co opt it. Now, co opting it might be good for bitcoin bags. I'm not going to argue that. But it is not the same thing as allowing the innovation and decentralization to flourish. Well, let me push back on that a little bit.

Discussion on Government Regulation

All I meant by that, Washington, this technology is permissionless. So what we want to do, we're going to do, and the only thing that they can enforce is their policies and what exists if they try to legislate against some of the activity at this point. Have you run a crypto company? Have you seen how the banking system, if you want to get dollars in or dollars out, what choke point has done and how many companies have had to flee the United States or closed down? Oh, I've been web free spoiler paper for three years.

Engagement in Crypto Economy

It's all good, brother. But yeah, no, I understand. Yeah, I understand the march ahead. Now, I'm not saying they will break. The bridges to the real economy. That's the point. And that's really the issue. But look, I agree with you. I think that ultimately the way my big cause to lab is that the world capital markets are going to go digital. It is dramatically more efficient for a variety of reasons.

The Digital Future of Capital Markets

And the US, which we have taken for granted, the fact that our GDP is dramatically higher, our employment is dramatically higher, our standard living is dramatically higher. By having the most efficient capital markets in the world, we will lose that edge. And actually it will flip. And that is a serious problem. I also think that as we lose that edge, the wealth inequality will go higher. But that's a different topic for a different space.

Challenges in Bitcoin Dynamics

But I just want to make one other point because it just drives me crazy when bitcoin maxis talk about it doesn't matter and it doesn't matter. It doesn't matter. And the last point will bitcoin in the pandemic. I mean, bitcoin in the pandemic. If Arthur Hayes's band of merry men didn't kick the cord and pull bitmex out, I don't know what the price of bitcoin would have dropped to, but it wouldn't have plateaued at 4000.

Liquidity Concerns in Bitcoin Value

Probably it would have gone below 1000. And bitcoin is incredibly sensitive to liquidity in the short to medium term. And that's what drives it. If you think number goes up, isn't the driver of acceptance, then I think you're smoking something. Number goes up is the driver of acceptance. It's a positive feedback loop that goes between the two. So no, you can't take it for granted. It is.

Potential Threats to Bitcoin

I think we are past escape velocity now, but a concerted effort by the government to destroy it is definitely a threat. And that's really the only point that I'd say there. I think there's strong points and I think that thesis that Dan chalked up is an interesting one to explore. Maybe we do that for next week's topic, but until then, I want to thank everyone for joining taking time out of your busy days to be here.

Engaging in Crypto Discussions

I always really enjoy these conversations as you digital. If you have any ideas for topics or if you want to collaborate further, just shoot me a DM. I'm always open. And everyone, have a great rest of your Wednesday. Remember that everything you hear on these broadcasts is meant for educational purposes only. Nothing is financial advice. So be safe out there and we will see you all on the next one soon.