1/ In case some of you are wondering if I’ve completely lost my mind on this infrastructure bill, the answer is yes, but it happened a decade ago.

I genuinely believe crypto is the backbone for an effective and highly disruptive third party in America. 👇🏼
2/ I’ve recounted this story before on podcasts and panels but my first exposure to Bitcoin was during the 2011 “debt sequester” which saw Congress utterly fail at bipartisan budgeting. Following the debacle the credit ratings agencies cut US Debt rating to AA for the first time.
3/ I saw three ways to short Congress without emigrating (DC is terrible, but I love America so that was never an option): short treasuries, buy gold, buy BTC

I did 1 & 2 (wrong, wrong), avoided 3 because I wasn’t a dev and thought a BTC purchase in a cafe might send me to jail.
4/ Fast forward to 2013, BTC roars back (Fred Wilson backs Coinbase, Winklevii ETF, Silk Road shutdown) and I’m winding down my first startup.

Same frustration with our government / the country’s path, but now there’s a credible play to short DC, and BUILD the alternative. 🤟🏼
5/ Within weeks, I was all in on BTC. months later I met Vitalik (briefly) in Miami when he announced Ethereum. Then I built a sustainable network thanks to a silly newsletter, a throwaway Reddit pseudo, and one scoop (Mt Gox). I knew I’d ride crypto for life. (Its life or mine)
6/ From Day 1, I was turned off by charlatans & inspired by builders. I viewed the most prominent charlatans (regulators like @BenLawsky) with unconcealable contempt.

I viewed crypto as an opt out political alternative to the two parties & politicos as obstacles to stall/ avoid.
7/ I went on an all out crusade (many cringey moments in hindsight) vs Mt Gox and The Bitcoin Foundation. And I thought crypto would police itself more effectively than short term govt appointees with no understanding of the tech or the consequences to overburden some regulation.
8/ That has been a large part of what’s driven me ever since.

eg DCG acquired CoinDesk for its Consensus brand, and we wanted events to showcase crypto’s credibility.

eg Messari is a data company, but it started out of rage against the 2017 ICO mania & need to self-regulate.
9/ Running in the background we have:

+ Snowden revelations
+ Trump, Brexit
+ Record deficits & government waste
+ Increasing polarization (but always bigger government)
+ top to bottom institutional failure on COVID

Meanwhile building in crypto is rare forward progress.
10/ But 2020 marked a turning point in adoption & wagmi conviction:

+ the world woke up to inflation risk
+ people saw big tech censorship and data centralization problems
+ DeFi became a credible alternative to big banks
+ blockchains started to get scaleable

We’re close.
11/ WITHOUT THE GOVERNMENT:

+ We’ve got well-functioning, resilient global markets that trade and process transactions 24/7
+ Alternatives to the tech and media monopolies
+ Emerging opt-in governance models and (soon) well populated metaverses

From scratch in just a decade.
12/ Now here’s the secret:

Crypto has made a lot of people wealthy, not at the expense of greater fools as many critics would have you believe, but at the expense and *in spite* of hindrances from incumbents.

The “now they fight you phase” is here.
13/ Crypto has created new financial primitives, governance standards, community ownership models, & computing platforms in just a decade.

It is *almost* unstoppable tech that can solve many of the problems of big gov, big bank, big tech largesse.

It’s the “exit” party.
14/ If government could solve healthcare, it would solve healthcare.

If government could solve financial inclusion, it would solve financial inclusion.

If government could solve education it would solve education.

Oops.
15/ I won’t mince words. I’m very biased here because I despise DC. I have for a decade. For good reason!

Their results suck, and in any other industry, these pols would be fired for incompetence.

The American system of government works, but it was never meant to be this big.
16/ How to disrupt DC without destroying America: enter crypto.

We have now gotten big enough - as a voting block and economy - to effectively represent a new third party.

Younger, idealistic, anti-two party, capitalist, autonomous voters, who want to vote “other” have a home.
17/ Libertarians don’t win elections because you can’t win by running on a “I’ll do nothing” platform.

Crypto routes around DC, so you progressively opt out instead of play a rigged game.

First with money. Then with markets. Then computing. Etc.
18/ For a while, we’ve been happily toiling in the fringes with the occasional state driven nuisance.

Our own little virtual nerd metaverses connected by discord servers, telegram channels and signal chats, and populated by pepes, punks, and bored apes.

Then last week happened.
19/ DC punished us for not being part of their game, and used us for a “tax offset” in an “infrastructure” bill that otherwise ignores the highest growth sector of American tech.

They forced us into their political game at gunpoint. Not hyperbole: break a bad law, go to jail.
20/ What happens when 10s of millions of younger, tech savvy voters with anti-big gov, anti-big tech, anti-bank ethos get lumped together and forced to opt into a system rigged for DC, Wall Street, and Big Tech?

You get the backbone of a new, broadly bipartisan political party.
21/ Crypto and its innovators must be protected at all costs.

The energy from this week needs to be converted into a ruthlessly effective - and feared - political machine.

We didn’t choose this fight or its timing, but now that it’s here the only option is to win.

🎤 🎤 🎤
(End of thread. One note is that this is mostly stream of conscious on a nice long walk outside, so not as tight as my long form writing. Just wanted to get something raw out there.)

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More from @twobitidiot

9 Aug
1/ Going to sleep on it, but thinking:

+ I'll seed the "Digital Freedom Alliance" and we can find someone top notch to run it.
+ Will be the "card carrying member" crypto lobby counterpart to the think tanks (Coin Center) and corp sponsored lobbyists (Blockchain Association)
2/ Mandate is simple:

+ Organize crypto voters as a political block that rivals every other major single issue lobbyist in the country
+ Leverage crypto's rabid base to advance crypto friendlies and primary candidates *on both sides* that are hostiles or refuse to do the work
3/ Inclusive for BTC, ETH, DeFi, Web3, etc.
"Open source. Open money. Open internet."

Bipartisan boogiemen we can align against:
+ Banks, the CCP, Tech Monopolies
Read 4 tweets
9 Aug
1/ I am completely lost tbh, but here is why I am piecing together right now.

+ This spending bill technically originated in the House (as spending bills do)
+ The Senate used the HR vehicle and amended it with 35,000 pages of pork known as the infrastructure bill
2/ The vote we just saw was procedural, which means we've got another day max for them to debate all remaining amendments.

The Portman-Warner amendment is no longer even on the table. We either get to the Wyden amendment or it's the original language.

3/ At this point, it looks unlikely Wyden will see any floor time.

That means this piece of shit gets flung back to the House, which can offer its own amendments.

If there are differences, two versions get "conferenced" which you might remember from Obamacare if you're old.
Read 6 tweets
5 Aug
🚨SOME NEWS🚨

We've closed a $21mm Series A for @MessariCrypto, led by Point72 Ventures.

It's @p72vc's first crypto venture investment 😎 and we're excited to welcome @adamkcarson to our Board.

Why we raised, who else is in, and what's next. 👇
2/ We've never been more bullish on crypto or our unique position in the market. This round will help us:

+ reinvest in our core platform, add new data sets & analytics tools
+ grow our team from 30 to 75 by 2022
+ build a 1,000+ analyst Hub

And more. 🙃
messari.io/article/messar…
3/ We wanted to add A+ fintech investors with a strong TradFi network & BD chops to help us bring crypto to the institutional mainstream.

Enter @p72vc @tglocer @mattocko and @ddougatkin

We also wanted to strengthen our crypto partner ties. And we sure did with this syndicate...
Read 12 tweets
13 Jul
🚨 NEW PRODUCT 🚨

I'm excited to share Messari's newest *free* product for our community...our revamped asset pages.

There's a lot of obvious upgrades here, and even more under the hood that's going to make for a much more powerful research platform long term.

Thread! 👇
2/ The new pages reflect the "terminal" design of our home page. The goal is to improve nav and search for crypto power users.

We have:
+ dynamic charts for dozens of messari metrics
+ fast ROI calculator
+ our enterprise intel feed right (protocol events)

All front & center
3/ We've made per asset profile data easier to navigate.

And we've made a small, but important upgrade that hints of what's to come with our Analyst Hub...the ability to propose edits, for which we'll ultimately offer bounties in order to ensure pages remain evergreen.
Read 9 tweets
30 Jun
If you had two days to onboard someone into Web3, DeFi, etc. and wanted them to learn how to use 30 different products, how would you design their crash course?

My rough idea below...
1/ Acquire ETH through an exchange, install metamask, set up a hardware wallet, buy an ERC-20 asset via Uniswap, and borrow USDC against the ETH via Maker or Compound. (5 products / action items)
2/ Head on over to Zapper or Zerion to track your wallet in real time, and log-in with your wallet to Snapshot or Tally to see if there are any active areas to participate with voting. (2 actions)

Then buy some community shit. A creator token, an NFT, a DAO share. (3 actions)
Read 7 tweets

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