Tweet

Hong Fang (OKCoin)

9 Jan, 5 tweets, 2 min read

1/ August 6th, 2020 - Trump signed executive order to ban #Tiktok

Jan 8th, 2021 - #twitter banned Trump for good.

2/ Almost want to joke that it feels like a revenge from one social network for another, but of course it’s not.

There is a deep irony in this sequence of events.

3/ On surface it’s about censorship vs free speech (market).

But in essence, it’s about transparency and consistency of rules.

Any third party that holds too much concentrated power can change things single-sidedly, Trump or Twitter.

That’s what is scary.

4/ One can argue whether Trump should be banned or not. Each with good reasons.

The crux is - If there are a pre-determined set of rules that are made clear to every participants, then those who trespass would be automatically banned. No one would have any issues with that.

@jack

5/ Maybe someone is building a more decentralized and more transparent version of #twitter

Just like #bitcoin vs fiat.

Or maybe @jack is already on it given that he is such a #bitcoin fan?

• • •

Missing some Tweet in this thread? You can try to force a refresh

This Thread may be Removed Anytime!

Twitter may remove this content at anytime! Save it as PDF for later use!

More from @hfangca

Hong Fang (OKCoin)

@hfangca

29 Dec 20

It’s always fun to guess what would happen next year, no matter how wrong we would be.

Below is my 2021 crystal ball – out there to be smashed :)

A thread to come.

1/ Theme 1: Bitcoin is still the King

2/ Breaking Theme 1 down into 5 things:

a) Bitcoin price hitting $100k
b) More momentum in developer sponsorship
c) Lightening getting beyond early adoption
d) Payment in bitcoin gaining more traction (Africa and LatAm)
e) More smart contracts built on top of bitcoin network

Read 12 tweets

Hong Fang (OKCoin)

@hfangca

23 Dec 20

@OKCoin

On Dec 18th, FinCEN announced a proposed rule that will require collection of personal information for transactions of >$3,000 sent to self-hosted wallets.
public-inspection.federalregister.gov/2020-28437.pdf

We are very concerned about this proposal @OKCoin.

Key takeaways below:

1/ The results seem to be pre-determined.

Transparency and full public participation is needed for sound policy making on complex topics like this. However, with a shortened 15d window (holiday included) vs standard 60d, we are not getting a genuine opportunity to participate.

2/ Cyber-crime is not unique to crypto. An FBI report in June said that daily digital crime has risen 75% since March.

No evidence indicates that illicit crypto activity has risen disproportionally to threaten national security that warrants such a rush.

Read 16 tweets