This space is hosted by impossiblyso
Space Summary
The Twitter space covered discussions on a political figure’s crypto-friendly stance, contrasting economic policies, and engaging morning coffee conversations. It delved into the intersection of crypto and politics, providing insights on varying economic policies and maintaining an interactive tone resembling morning coffee conversations. The space offered thought-provoking insights and fostered an engaging atmosphere throughout.
Questions
Q: What was the main topic of discussion?
A: The main topic of discussion was the crypto-friendly stance of a political figure.
Q: What contrasting economic policies were discussed?
A: The discussion involved contrasting economic policies of different political figures, specifically related to inflation rates and its impact.
Q: What was the overall tone of the space?
A: The space had an engaging and interactive tone, resembling a morning coffee conversation.
Highlights
Time: 00:53:20
Discussion on a prominent figure’s crypto-friendly stance.
Time: 00:57:35
Contrasting economic policies of different political figures.
Time: 01:02:25
An engaging and interactive morning coffee conversation.
Key Takeaways
- Discussion on a prominent figure’s crypto-friendly stance.
- Contrast between economic policies of different political figures.
- Snapshot of engaging morning coffee conversations.
Behind the Mic
And the minute that, let’s see, the SEC reviewed Exodus security registration application. You know, I love JP Richardson. The CEO was says he scratched his head in disbelief. Yeah, it’s the idea was that the offering of Exodus is common shares was put on hold indefinitely, though they didn’t say, oh, this, that they said it’s indefinitely. So. Well, I mean, if I had to speculate as why, it would be everything that we talked about, like, when you have something that settles on the blockchain, like, how exactly are these brokerages supposed to actually do this when the way that they normally operate is to do so in this very gray way of shorting these stocks, it’s like, they usually don’t have the stock. So if this has to settle out to Algorand and it has to be done on some t plus one cadence, then you can’t play any of these games. I don’t. Maybe they could just respond to back. It’s like, there’s no way for us to hide the tomfoolery that we normally engage in when you’ve got a blockchain showing exactly what’s happening on the backend here. Yeah. How is. How is Citadel gonna front run your trades and do pay to order flow and get Ken Griffith another penthouse in New York, for those of you don’t know me, about, the most expensive penthouse. Most expensive penthouse in New York ever purchased, and I think the most expensive piece of real estate ever sold. Guy who runs Citadel for front running, you know, how’s citadel gonna front run your t plus one? We don’t. Is bad. We can’t do this. I can’t believe that I. They were literally set to just like, did they fly to New York? And it’s like, sorry, guys, the opening bell is not going to happen. It’s. It’s almost like somebody wasn’t paying attention when they allowed this through, and then somebody finally figured it out and was like, wait, we. There’s no way we can let this go live. You know? What else could it be? I mean, how did it get this far? And somebody not realize they actually have to sell trades on the transparent blockchain? And you think it’s that simple? Yeah. I mean, the thing is, they don’t. They don’t know how it works. And so they thought they were doing the right thing. And then someone realized, oh my God, we can’t do this. That’s the only thing that makes sense to me. I mean, cause if it has to be settled out on chain, the way that we have come to understand how the markets actually operate is that there’s no way they’re actually settling these trades. It’s all money that’s pushed around on paper. And then they just go back and forth with the derivatives at no point. Are they actually selling the Apple shares? There’s very few shares. That’s, that’s people’s retire amount. Like this entire, the entire value of the stock market is so inflated that the numbers make absolutely no sense because you couldn’t possibly settle them. They’re all fractional. You’re always buying shares or derivatives of shares. Yeah, I think so. There’s Aaron seeing written pieces on this. It’s like most stocks, when you buy and sell stocks, most people think you’re buying them. You’re not actually buying the real underlying security. You’re buying a, you’re buying a derivative. Cause that stock has likely been, it’s like if somebody was shorting it all the way up and down, it’s been lent out a number of times. And so it’s very rare for people to get the actual underlying stock. And the one case where that actually happened was GameStop. You had this mass rush of people who actually wanted the certifying shares. And so they kind of broke everything. It’s like, and a lot of these transactions happen in dark pools. I think most people don’t understand, like, stock trading volume isn’t happening on ETrade. That’s those big volumes of trades happen in very dark pools. They’re unaccounted for. And so, yeah, this is how the markets work. This is how the sausage is made. Well, it is. It is quite the unsettling thing. I like this was something that came up even just with like, oh, what was it? Robin Hood last year where they’re like, actually, no, we can’t even process any of these transactions, even though like it was supposed to be this cool thing that happened. So, I mean, even setting aside all of the shenanigans of fair markets, I think this just goes along with the idea of there is no fair market. Even when you expect there to be one. Very often it’s just not possible. Well. And I think that until people realize that, we don’t have a level playing field. That the one we have now is not the level playing field that you should expect. Like, the brokers will find a way to game you. All right. So I want to, from there, I want to just switch gears again. And I’ll go ahead and read this from the morning. So some good news on the policy front, New York Assembly member Solaga’s bill to de-penalize holding TCH passed the New York Assembly. I was pretty happy to hear about that. But again, there’ll be some, some, some chicanery on this one as well. But it was interesting to hear. I think the bill passed 133 to 12. So it was a pretty overwhelming agreement. But who knows where it goes from here? So I was just happy to see there is some, some wise heads coming around in terms of how this is being managed. But do you think that it just becomes some anybody can own BTC? And maybe they’ll open it up. Maybe they’ll think about the idea more. Well, okay. So I make no illusions that I am probably on the more extremely libertarian side of the spectrum with just some of my general political views and some of the way that I, you know, hope that things go. And I say that’s what you said about having some sane heads in New York, considering that, again, this cut like the bit license debacle and how all of that was handled years ago and just how that still reverberates in New York to this day, even with just this change. So like, I’m, I’m very curious about how that ends up because OK, yes, it’s a good step forward. However I agree that it I would like to see an even more meaningful step forward just towards personal freedoms and dealing with tokens and assets and cryptocurrencies and everything else like I think often that gets lost in these. News cycles of regulation and institutional control and government compliance we often forget that a big piece of what this is for a lot of people is that financial sovereignty and like saying No this this is my thing that. I think this is a big piece of it like when we talk about where Bitcoin came from when we talk about like even where the people that I often meet for the first time and they talk about you know their aha moment and crypto like that’s a big piece of it is that. This I have control here like I have control I have ownership and so this move in New York it is good and I don’t mean to undercut it and undermine it however I do want to see it expanded even more towards something that’s a bit more substantial and meaningful for people that are going to be coming into the space. Well it gives me it gives me a little bit of hope and kind of see where the growth is going I mean we’ve had all the reviews now coming in and still one of the things we talked about is you know we had 3AC and we’re finally getting reviews from that this week about how impactful it was who was impacted and everything else. And like at the same time where the SEC had straight out like the number even just like the in during them so like getting into it 3 arrows capital like losing we’re talking almost like bang bro saying that. You know you were high on the one during the process like the collapse because like an episode says they don’t like what you should have must have measured is that when Justice reform was going on and 3AC is happening like they think that they can gain the system and not think about the consequences but they are being constantly looked at and there is like no point in time where I cannot see a market move where they would not be scrutinized for trying to do this um that still blows my mind. Well I think some time I don’t know like during I mean the minute you have like any type of firm that comes in and tries to do this and like you have no focus on like trading strategies because it’s like it’s happening in so many places then you think about like this going in. So I don’t know then. I look I said earlier I’m liberating and you wanna people having this and like just broader brighter future but like you can’t do that. While participating in these kinds of, I don’t know, Tom foolery. Well it’s I mean it’s so utopian to think that people would come in and want to change this but it’s not you’re always going to have people that are going to want to game any system they see and it’s just I hope that it’s enough change that it just pushes the needle at least a little bit in that direction but then there’s gonna be a whole bunch of back covering and everything else that has to go on for it to really show progress in any meaningful sense like I just. Yeah I mean kind of like what we talked about just a few moments ago it’s just like shuffling money around too without actually selling anything like they don’t have a way to really do it yeah but I don’t know I am. I always think there’s just a whole lot more work to do but it does give me a little bit of hope so and tone down where I was speaking is just a little by little. Correct well here’s here’s a something I did want to get your thoughts on this one’s in the opposite direction so Gemini the wink of OS twins Yeah so it will be investigating a class action lawsuit that’s set to move forward claiming that. Gemini sold crypto assets or exchange products without having them properly licensed as securities or commodities and so this is coming out of the Southern District of New York so it’s filing is Graham versus the Gemini Trust Company. And the allegation is that Gemini sold their GUSD token without properly disclosing it under securities laws requiring it so. Here we go I say So here we go the cracks are showing Well look you know what it reminds me of like mean and. What do you have like I don’t remember it was Binance or was coinbase some number of years ago and we had another friend of this show it literally happened where they actually listed securities that were on the token list of the broker and I think that something we talk about like a number of like these names that come up and they don’t get it right you’re marked us properly this can become like the biggest piece against anybody trying to actually make a difference in the face. Like so I mean here’s here’s what thinking about mean so. The even here your problem so it’s like watching even just like we talk about all those dates securities and what’s going down mean the thing like So that’s those things that you have is the chairman of the agency chairman is saying that he could properly waive the regulation and everything else but anytime you’re looking at product that is not properly marked or it is not given due time and Barry tried to add another legislation it can have a tremendous downside Yeah, I mean, especially considering like there were rooming with talks around this one for so long before anything was brought down with like the whole. Well, I think, I think this is it sounds like we’re going to go get into that most likely and like if they try to do this you know like situation is where that they would have to go get this right but like. So my problem is that so So This is this keeps going on I keep seeing more and more of these and yet none of them ever seem to move forward really like they they never come forward because partly mean look the other think there aren’t even the charges brought forth they need. To be able to move forward for this and so it’s like the pages I’m thinking about is that we have lack of regulation around the space that keeps coming forward. And so the thing that the biggest scare of that too is that like we have like a downward market when you have bear market but any time that we have an upward that just comes forward your gonna pull back like crazy it’s crazy but I think that I don’t know. So mean I think also when I was reading this like like this like the government shutdowns in general like the massive hurdles mean dude the problem mean. Here with the industry and what’s going on they mean if you have they were literally, blowing out their interest at the same time mean here if your people who are going to the other offering would have have to then offer like. You know you have to realize it’s like sort private exchanges off everywhere and then like they would come in and it’s how do you wanna be able to make this an easy process because is today’s today’s moments that we have it’s like you cannot go out there if I’m not not seeking this under the angle of bringing these fun investments even addition when we see in some and in mean. My thoughts are not for it. Here’s what I don’t like about you know here’s what I don’t like is that mean if you think about some of the angles here then you have like literally some of so I’ll give you this one angle from like here’s my where is my thing if you have like each trade and trade volumes that we have gone it’s right now I mean well. The thing I mean if you just have you have to take those people at their value so how do you like a lot of heads will roll if you shut all these things down so. I think it’s bad that they’re just gonna be able to have. I mean the guys who you have are going to get dragged in to all these. So if Byron Jones Comes in and we look at my stepson at some of the I mean we’re both the things with like looking what handle is being offered look it’s a black hole. Look we talk about this a time ago with trading I mean so like bar none, we’re getting dragged into the minute that sorry. Look I know the guys like we work We work in things in mean futures and think what work as you guys think what way that we have thoughtful mean. So mean where I get this. Uh well that’s a big walk for a number of reasons you know like I know we talked a lot like in general we talked about folks but like here’s the thing so you come back to realize Joe we say this is part and personal and right I mean I like what we often hear yes Yes Okay so mean if you think about so Elon right musk, musk and others, like getting the pass to be able to like so what you’re look. What I come At is like so Elon does this big move and then everybody comes out gives backlash. So so why that this part is coming out you think about like you have. Major political situation now so it’s like an exposure of a bit of what comes on yeah. So was actually good for Elon like think about anyone who sees it I mean how many others come into the space which Which goes back to my like “don’t make this personal”, right? By the way, I love Elon, like there’s. But look, think about like if. If they come in, Elon goes back to free speech and in general then what happens then like you hear about the learned things. That. The Teslas, Mass was doing then that you see an industry exposure into how things operate right? That there is like this major. So here is what springs into the things like done at x amount of scale if you look at like we have blue America in this concept but and they have these geographically advantaged. Um on paper right they get high in the hole in wall street then like look like the down from the Dow Jones whatever you think about then that exposes things in. Like it you know I mean Elon you think about like But on the both side they’re there cos like. The reason why part and parcel its like so you think about anyone goes on that the minute always go like it’s Tesla wants to go one scale and that is like one side space to the industry but like so I come out to give industry credit like let’s say especially you we think about like every government was like. Well there’s this ideas that you have is to go I know that a lot of. So Always on some cases that’s scaling the major thing to think of but like again, I’m like, okay someone get total concepts. Just happen because there’s clearly a bit of thinking processes that are lies within mean where industry get to. adapt and think is always it goes up using clearly because of some game scheming or thinking that your one just goes into the movies so my god then. So I don’t know somebody speaks words that people learn them. So, bravo for Elon Musk. Bravo for technological solutions. Perhaps the likes of Exodus Wallet will begin to expose how the stock market truly works and who the big winners are there, like Citadel. If more people begin to understand that the momentum will shift in the favor of blue collar America, that’s what I look forward to. Anyway. We are well over, and anything to close it out. And I don’t have music to play for us today. Sorry. I hope you liked Alanis Morris set yesterday. I never know. I never know if I’m punishing y’all with my musical selections at the end, but she seemed apropos for yesterday. If it were today, I would probably play as some Tom petty. We belong in a field of wildflowers. Assume we’re mostly being punished. But yesterday was great. Great show today. Thanks, everyone, for coming in, tuning in. We appreciate you. Thanks for having coffee with us and our little. Our weirdo little chat. You know, the show started because, Lucas, were just having a phone call, and were like, you know, why don’t we just make this a space? And. And then Grant came on, and were like, this is great. This is like the three people that I would want to have coffee with in the morning. And then ck and Rusty and everyone started joining us, and I was like, wow, this is cool. This is like a table for five. You know, we’re just, we’re having coffee in the morning and having a conversation. So we appreciate all of you for joining us in our weirdo coffee and a conversation in the morning show. Well, amen. And I do love the show. It always puts me in a great mood. Everyone I work with and see appreciates that I have this conversation now because it puts me in a much better mood. So thank you all for listening to my concerns about America. We’ll be back tomorrow, 11:00 Eastern for more FOMo, and I will try to have a song that’s not punishment to play us out with tomorrow. Everybody just hum Tom Petty’s wildflowers along in your head today and consider that punishment enough. All right, bye, everyone.
