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Main reflection every time I go to DC:

It is astonishing how much damage the term “crypto” has done as a one size fits all category

The worst altcoin scam promoters are lumped in THE SAME meetings and treated with the same cordiality with Bitcoin miners and stablecoin issuers. All the time.

Congressmen and women scammed by SBF are weary of “crypto” - and they are right!

We need to be specific

“Crypto council” type constructs are silly. Why should Bitcoin miners have to share a table and discuss fart coin? Completely unrelated to what they do

Huge respect to BPI for pushing in this direction, their name alone means and does a lot

There should be Bitcoin meetings, legislation, working groups etc which exclude affinity scammers or anyone not working on Bitcoin

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Discussion

emily 6mo ago

💯💯

Bill Cypher 6mo ago

Please don't include stablecoins with bitcoin. They are crypto and arguably the worst crypto.

100% of inflation risk of fiat.

100% of key management hassle and online security risk of bitcoin.

Take your crypto portion and split it into its 2 component parts.

Keep the counterparty rug risk

discard the miniscule chance that you bought a winning lottery ticket.

On top of that every argument for stablecoins has to start with a presumption of some validity of fiat.

Even when I was new and ill informed enough to be into crypto I knew better than to ever touch stablecoins.

gladstein 6mo ago

Totally agree

I suggested three categories for councils, working groups, legislation:

Bitcoin

Stablecoins

Everything else

Bill Cypher 6mo ago

If they must legislate, and we both know that they feel they must. My models in order are,

Don't bother you can't win

Go nuts, fiat is their baby anyway

Casino rules

RenaissanceMan 6mo ago

Weary? Or wary?

gladstein 6mo ago

Both honestly

HoloKat 6mo ago

CENSORSHIP!!! 🤣

frphank 6mo ago

Remember "crypto" is a scam because you can't buy anything with it whereas "Bitcoin" is a scam because you can't buy anything with it either.

gladstein 6mo ago

I buy a lot of things with bitcoin

Maybe you can’t buy anything with it, but that’s on you

dvo 6mo ago

I buy things with it every day

nathanael 6mo ago

I pay rent with bitcoin

matt 6mo ago

Crypto is a scam cause it’s made out of thin air by con men

Justin Trudeau 6mo ago

Is that what your waiting for? Someone on the TV to tell you it's accepted at your state run grocery store?

Good.

frphank 6mo ago

Yes?

I'm waiting?

And where's that state run grocery store also. I'd be happy for any grocery store to accept it, state run or not.

zhou caixu 6mo ago

BPI’s naming game is chef’s kiss—specificity cuts through the noise. Meanwhile, ‘crypto’ lobbyists out here playing musical chairs with scams. If only Congress reserved boats for sale https://www.yachttrading.com/ for actual Bitcoin builders. Anchors aweigh, fraudsters!

Freedom Technology 6mo ago

Unfortunately people like David Sacks and even the president are shitcoin scammers.

trichom 6mo ago 💬 1

Boo-hoo! "Govern n regulate me harder, daddy"

In a free and open market, I can shitcoin, if I want to.

gladstein 6mo ago

Sure. But please don’t affinity scam into Bitcoin

trichom 6mo ago

There will always be scams. And to whine, that the biggest scammer - the government, is into scams, is just either naive, or malicious, because is giving validity to these corrupt people i.e. the government.

Dahzen (打禅) 6mo ago

Scammers are a nuisance for all.

It's sensible to squash them with extreme prejudice (and also run Knots, not Core).

Anything else that is a legitimate market contender, let them prove their worth.

Bring it on, innovators!

trichom 6mo ago 💬 2

Don't speak on the behalf of the "all"! Also, you run for help to the biggest scammers and monopolists - the government. 911, WMDs, "Hillary is going to jail", "Epstein killed himself", "The shooter acted alone" REMEMBER?!!!

Core, Knots - I don't run either... MONERO, BB!!!

Dahzen (打禅) 6mo ago

So you mean that some people do like to get scammed?

Okay sure²

trichom 6mo ago

When you start caring for the collective good, you take role of god. You are not god.