Thread by @punk6529

1/ A quick recap of yesterday's threads to make sure we are all on the same page.

The value of decentralized systems is that they are decentralized and global and open to all.

This is the goal, but there must be pathways to that goal.

2/ The pathway to that goal is through adoption.

I am not interested in crypto / decentralized systems being a niche area for hardcore OGs only. I am interested in broad adoption.

Broad adoption by definition requires "regular" people in large countries to adopt it

3/ Regular people (and in fact pretty much everyone) in order to spend serious time/effort/money in an open system need to:
a) have easy access to their value back in fiat
b) not have burdensome obligations
c) not have any risk of jail, fines, breaking the law

4/ Without these things in place, we will all end up on a centralized system because practically nobody is going to risk jail time to make an oncyber gallery.

These laws are set at the nation-state level and have to be lobbied for at the nation-state level.

5/ My thesis is that the most important nation-state to get right is the United States because:
a) it is large,
b) it is the largest crypto market today and
c) other countries tend to follow it as the leader in tech.

6/ Given that the USA has not quite been favorable to crypto (mixed bag imho), this is my pitch to the USA on why it is in its interests to be pro-crypto.

https://twitter.com/punk6529/status/1457278102405623811

7/ My view is that the next best in the European Union. This is my pitch to the EU.

The reason for "next best" is not because I like cowboys more than waffles but because I think EU tends to move more slowly on these things.

Happy to be wrong.

https://twitter.com/punk6529/status/1457370810679808006

8/ Enthusiasm and good values are not enough.

We lost the battle for cyberspace 25 years ago because of too many grand thoughts and not enough work on the ground. I don't want that to happen here

https://twitter.com/punk6529/status/1457393362466709506

9/ If I am wrong and it turns out that India or Nigeria or Brazil or El Salvador or Switzerland or Egypt lead the charge into crypto and other countries like the USA follow their lead, that is great!

Happy for that outcome.

But I don't think it is the most likely outcome.

10/ I am not willing to give up the fight to get sensible policy out of Washington.

Despite some type of entrenched skepticism of crypto, it is still, in my opinion, the best bet.

But it is non-exclusive. Everyone can try in their country of choice

LFG!

11/ One thing to keep in mind is that countries FOMO in a predictable manner. Right now:

US and China FOMO each other
EU/UK FOMO the US and China
India FOMOs China and US

Pretty much everyone else FOMOs the above, but not the reverse. USA is not going to FOMO Egypt on tech.

12/ But what about Switzerland, etc? They play in their own separate league

Switzerland, Luxembourg, Singapore, Dubai FOMO each other
Slightly below: Estonia, Malta, Caymans, Bahamas, Cyprus, etc

But the big countries don't FOMO these countries

13/ In fact, with these financial/tax hubs, it kindof works the other way.

If they get too far ahead of the big countries in terms of permissiveness, the big countries reel them in and have many tools to do so.

So we have to win in the big leagues

14/ If this is your first time here, and want to learn more about NFT, the Open Metaverse and the plan, go here:

https://twitter.com/punk6529/status/1448399827054833668