@Peter_thoc@HistoriaNoPaint That's one of the delusional and moronic takes Peter. You need to read up and get your facts right. And maybe .... Just stick to crypto (where people give a rat's ass about the facts)?
To the 192 organizations who wrote the group coalition letter opposing Senate Crypto Legislation
I am writing because I believe we share the same core goals: to fight corruption, to protect the vulnerable from exploitation, and to build a financial system that is fair and just, not rigged for the powerful.
Your letter shows you want to shield people from harm. I am writing from Kenya to tell you that the way you are going about it is causing profound harm to the very people you say you want to protect.
Your letter asks for laws to protect people from financial harm. I am writing from Africa to ask you to get your facts straight, because the mistakes in your letter are causing real harm to people like me.
You talk about corruption and scams. This is a valid concern. Punish the corrupt. Stop the scams. Memecoins and influencer rug-pulls are a cancer. Write laws to protect people from them and hold everyone accountable, from celebrities to politicians.
But you must understand the difference. The scams you describe, the ones designed to enrich a centralized pool of founders and VCs, are not Bitcoin. Bitcoin was created after the 2008 crisis for the exact reason you cite: to stop the speculation and bank bailouts by creating a sound, transparent system no one controls.
This is why @Stella_Assange described Bitcoin as the "real Occupy movement," a tool for human rights activists and the unbanked long before any politician touched it. Do not blame the tool for the bad actors who misuse it. Target the bad actors.
You say crypto is for crime. Your own U.S. Treasury Department says “the use of virtual assets for money laundering remains far below that of fiat currency.” Why don’t you know this? The transparent, public ledger of Bitcoin is actually a powerful tool for tracing money and catching criminals, something traditional, opaque finance can't offer.
Your biggest mistake is about the environment. Your claims are old and wrong. They ignore reality:
>> Bitcoin mining profits are helping save Africa's renowned Virunga National Park - @gorillacd, which is home to half of our continent's biodiversity
>> In Ethiopia, they are using it to pay for power lines to reach people who have no electricity.
>> In my country as well as Malawi, and Zambia, Bitcoin is funding solar micro-grids and small hydro-power facilities (courtesy of @GridlessCompute) lighting tens of thousands of villagers.
>> Bitcoin has been shown in many peer reviewed papers, independent reports and case studies often highlighted by @DSBatten, to be speeding up the clean energy transition and stabilizing the grid. Africa feels the impact of climate change first, so this is critical to us. I was surprised that you are unaware of this.
>> When Bitcoin mining was added to the grid in my country, it didn't raise electricity prices for local villagers, it lowered them. The same has been shown in other countries like your own. How is it you are not aware of this?
When you repeat false claims about Bitcoin, Africa's often authoritarian governments, recycle your words (often verbatim) to try to ban it. They don’t like Bitcoin because it gives people freedom they can’t control.
When my brothers and sisters protest against authoritarian rule in Nigeria, they are able to do so because they fund their campaigns with Bitcoin, which their government cannot track or freeze. When you use your voice to repeat false claims, you are helping dictators without knowing it.
You warn that crypto could cause a financial crisis like in 2008. But the banks that failed in 2023 (Silicon Valley Bank and Signature Bank), failed from centralized mismanagement, not Bitcoin. True financial instability comes from centralized systems, not from a decentralized network that can't be bailed out. Your fear is aimed at the wrong target.
You want strong, enforceable rules. That's fair. But the "regulation by enforcement" you call for doesn't just scare scammers, it also kills the innovation I need. The wallet I use, the service that lets me receive my newsletter payment, the company that helps me convert Bitcoin: some of these tools are built by U.S. developers.
When U.S. policy is hostile and unclear, these innovators get "de-banked" or shut down out of fear. When you make it legally dangerous to build Bitcoin tools in America, you take those tools away from us. You are regulating my financial life and limiting my financial freedom from Washington.
For you, money is stable. For me, my national currency has consistently lost most of its value over the years. Bitcoin is how I save and get paid without losing half of it in fees. It is a lifeline. When you call it useless or dirty, you are calling my lifeline useless and dirty.
You want to help. Then help by learning. Do not spread misinformation that hurts us. Make sharp laws that stop real criminals, but do not kill the tool that is saving the marginalized you claim to protect.
Look at the evidence from Africa. See what Bitcoin is actually doing. Then use your powerful voice to fight for precision, not prejudice.
Sincerely,
Elvis Gwaro
A young African who uses Bitcoin to build a better life
🧵 Megathread on @origin_trail $TRAC
The best time to find true gems💎 is when the environment is extremely hostile.
$TRAC rose 🚀 from 30c to 85c in October when most alts went down -50%.
Why will $TRAC reach at least two digits if not more?
1/8👇
https://t.co/FAMyrDFKaH
I focus on whatever I think is at a pivotal point at this particular time. Sometimes that’s HBAR, sometimes it’s XRP, sometimes CRV/CVX etc. It just so happens that TRAC is the most primed atm hence my recent focus on it. When the others looks primed as well you will see me tweet about them too.
@EricBalchunas Running is meditative, it really helps you to focus on the present and be aware. Plus everyone has easy access to running, all you need is a pair of shoes. Unlike picking up a sport like tennis, which is super fun but requires an investment (racquets, access to courts etc)
@EtherRawl@0xsimmo It does matter, because it is misleading for those who don't understand the difference. Love your content though, keep them coming 😄
Curve DEX quietly printing again.
@CurveFinance generated $4.5M in trading fees so far in October
- almost 2× September’s total,
- and the month isn’t even over yet.
- TVL steady at $2.3B,
- 30d volume over $11B.
Real yield is flowing again to $veCRV holders.
DeFi’s still here. Let's Curve it
@CredibleCrypto The empathy you show, and how respectful you are in how you speak, is extremely rare to see these days. And much more so in this space. Thank you for another amazing video!
The deeper you go into the semiconductor supply chain, the less believable it becomes.
> TSMC, a company on a small island, produces over 90% of the world’s most advanced chips
> TSMC relies on dutch company ASML for EUV lithography machines
> ASML depends on German Company Carl Zeiss, the only firm in the world capable of making mirrors precise enough for ASML’s requirements.
> The light source for ASML’s EUV machines is produced by a single company in San Diego.
> The photoresists used to print transistor patterns are produced by Japanese firms like JSR and Tokyo Ohka Kogyo.
> The ultra-pure quartz needed to make silicon wafers comes entirely from a single mine in Spruce Pine, North Carolina.
> The copper and rare-earth materials inside chips are mined and refined across Chile, the Congo, and China.
> The specialized gases used in chipmaking, like neon and fluorine, largely come from Ukraine and Japan.
> The design blueprints for these chips often come from American companies like NVIDIA, AMD, and Apple, which rely on software tools from U.S. firms like Synopsys and Cadence.
Remove any single piece and the whole system collapses.
@CredibleCrypto Sorry to hear mate. And thanks for sharing, truly appreciate your honesty.
Couple of questions:
1. Given the broader plan still remains intact, is this a dip that you would buy into ?
2. Does this just delay alt season by some months or you reckon a quick recovery is possible?