🧵The existential threat facing crypto @scribeDAO

TL:DR; The US Gov has the capability to cripple innovation and usage of crypto across the country, and unless our collective can band together and overwhelm politicians into believing we're the future then dark times are ahead Image
This essay explores the capabilities of the US Gov to stifle a budding industry, and how the broader crypto community can tackle that threat

Read the full thing by @DefiantNews @c_spelliscy @holmesworcester here: thedefiant.io/crypto-endange…
1⃣ What's the problem?

Crypto is under threat by the regulatory and institutional powers that be

They may have ignored us up to now, but there's a good chance that as we continue to be disruptive and they become more aware of our potential they intervene to slow our progress
2⃣ Why is this a problem?

Though the government cannot shut down crypto itself, they do have the capability to throttle our progress with regulation that creates a strong disincentive for current and future users to remain on the blockchain

Take Web2 as an example Image
3⃣ Example

Consider Napster and their innovative peer-to-peer music service

Music industry incumbents realized that billions of dollars of profit could evaporate if Napster wasn't stopped

Thus they lobbied the USGov to regulate and most people stopped using the platform Image
4⃣ How do we stop this?

We must transmute the general public and political consensus around crypto to being a positive disrupting factor wherein suggesting otherwise would seem foolish

This will being a time-consuming and difficult endeavor, but it's definitely possible
5⃣ What can we do practically?

What this would look like in practice is developing strong arguments for crypto from ELI5 to academic levels

Garnering public and academic support from institutions with high political and social capital

And much more covered in the article
6⃣ Conclusion

It'd be naive to think the lack of government involvement is a future indicator of possible government regulation

The reality is we just weren't on their radar yet and with progress in the space we need to prepare for any potential threats now

• • •

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

Keep Current with goolag.eth

goolag.eth Profile picture

Stay in touch and get notified when new unrolls are available from this author!

Read all threads

This Thread may be Removed Anytime!


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

Try unrolling a thread yourself!

how to unroll video
  1. Follow @ThreadReaderApp to mention us!

  2. From a Twitter thread mention us with a keyword "unroll"
@threadreaderapp unroll

Practice here first or read more on our help page!

More from @GoolagCrypto

13 Oct
🧵on my @StripsFinance thesis for @scribeDAO

TL:DR; Strips is a derivatives DEX that's bringing a classic TradFi derivative to crypto: Interest Rate Swaps (IRS), and if executed properly Strip could see growth on the level of dYdX or other derivatives EXs

Not Financial Advice Image
1⃣ Product

IRS are forward contracts where you swap future interest payments based on some notional amount

There are 3 main types

1. Fixed to Floating: fixed to variable

2. Floating to Fixed: variable to fixed

3. Floating to Floating: variable to variable
1⃣ con

Offering IRS is a natural evolution in DeFi that mimics a trend in TradFi

Currently there's no protocol that offers IRS and so Strip is stepping in to meet that demand

Strip hasn't released its IRS DEX yet, but plans to offer the first two types of IRS Image
Read 19 tweets
12 Oct
There's been some great discussion going on in the @templedao discord regarding the unstake queue and whether it's really an appropriate mechanism for controlling liqudity

Just wanted to give my 2 cents on it
I can see why forcefully having shallow liquidity on markets and an unstake queue to prevent capital flight is shady

I think a lot of crypto-natives from 2008 till now have experienced rug pulls and the crushing feeling of getting dumped on by a protocol
However, I think it's different in the case for Temple and here's why

Temple has given a promise of a safe-haven from the volatility of crypto. Volatility doesn't just mean stopping the price from going up, but also down

If the DAO wants to control that what can they do?
Read 7 tweets
12 Oct
I've working on a new method of DAO governance participation in an effort to make it more equitable for all as well as incentivize all community members to participate and make informed decisions

It's called a G100 (Governance NFT of 100 shares)

There are three key problems I'm trying to solve:

1. Lack of participation by the broad community

2. Price being a central, sometimes only, concern for governance proposals

3. Over-exposure to the whims of whales and their conflicts of interest
1. Lack of participation

On the margin people who have a very small impact on a governance process, think the US election or small equity holders in the stock market, tend to either not vote at all because it’s unlikely that their vote will be the tipping point
Read 7 tweets
3 Oct
My thesis on @templedao in a quick thread

I know a lot of Templars have a variety of viewpoints on how Temple is going to be revolutionary, but wanted to give my own two cents
1⃣ General Narrative

In the early days, of which unfortunately I did not partake, making trades on ETH was relatively inexpensive. $300 ETH meant maybe you were paying at most $30 for at trade, but now that ETH is at $3000 you're paying $300

Well that's a problem
1⃣ con

For one in creates a barrier to entry into the ecosystem for new participants.

How can I possibly justify an investment where 10-20% of my trade evaporates into gas cost?

Even if I'm already in the ecosystem there's a significant disincentive for me to participate
Read 18 tweets
3 Oct
🧵on sovereign symbiosis for @scribeDAO

TL:DR; Nation-states are built upon the manipulation of individuals by nationalism into sacrifice for nothing in return, however, the advent of DAOs represent a new social model of belonging built on symbiosis rather than predation
This is a thought provoking piece considering the archaic nation-state and how its deterioration is a result of social models evolving bringing people together for a common cause rather than a shared sense of identity (nation, ethnicity, etc.)
Read the full thing here: egirlcapital.com/insights/60205… by @CL207 and an anon contributor @egirl_capital
Read 24 tweets
2 Oct
🧵on the lay of the modular blockchain land for @scribeDAO

TL:DR; Blockchains have now become composable removing the need for a singular chain to tackle the Blockchain trilemma, rather a variety of chains can specialize and work together as modules to provide the best solution Image
This article discusses the three main components of blockchains, and how now a variety of chains can specialize and come together to more efficiently tackle the trilemma

Read the full thing here by @epolynya : polynya.medium.com/the-lay-of-the…
🅰️What is a blockchain fundamentally?

A gross oversimplification, but you can bucket a blockchain into 3 main functionalities



Data Availability

A singular blockchain having to complete all three is what leads to the trilemma, but they can be split apart
Read 7 tweets

Did Thread Reader help you today?

Support us! We are indie developers!

This site is made by just two indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3/month or $30/year) and get exclusive features!

Become Premium

Too expensive? Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal Become our Patreon

Thank you for your support!

Follow Us on Twitter!