Lyn Alden: Silicon Valley doesn't get Bitcoin because tech people know the first mover rarely wins.
Ask Jeeves didn't win search. MySpace didn't win social.
But Bitcoin isn't a regular technology - it's a protocol. And protocols don't get replaced once they win.
Internet history is littered with them: tcp, https, smtp, ip, and more.
FT @IIICapital@LynAldenContact@TNorth.
Follow for more: @milkroaddaily
"There's no utility for the buyer, but there's actually a lot of utility for the blockchain"
Chris on what memecoins are actually good for
"It's a game, it's not an investment. Even Gary Gensler didn't try to regulate memes because he couldn't. They're nothing, there's no value, no one's trying to make sure there's value. Now this linkage with equities is novel, it's GameStop 2.0."
"If you're playing the game you're probably going to lose money. Is manipulation regulated by the CFTC? Absolutely it is. So if you're manipulating these markets, do so at your own risk because it's illegal. They are commodities, and commodities are also regulated by the states."
"There's an entire industry in New Jersey and Las Vegas where you go in and play the game and it's wonderful entertainment value, and you're probably going to lose money. You do it anyway because you know you're going to, but it's fun. I don't think it's what we should be focusing on to build the next generation of finance."
"However there is one good thing. Memecoins have been particularly amazing at being incredible stress tests for blockchains, because they trade so violently. ETH had it with Pepe, Solana had it. So my hope is that all this activity paves the way for scalable real world assets when the institutions show up."
The CLARITY Act will be in front of the Senate on September 15th.
According to @pmarca, a permanent regulatory framework for crypto is...
"in a lot of ways, the most obvious thing in the world."
NEW: ๐บ๐ธ FBI Director Kash Patel said this week, $15B+ in cryptocurrency was seized, with 'Operation Blackout' shutting down 500+ fraudulent investment sites, and closing down dozens of scam compounds.
๐จXRP HEALTHCARE WALLET HACK EMPTIES 4,011 ACCOUNTS!
Attackers drained about 267,664 ripple:native from @XRPHealthcareโs mobile wallet on Sept. 3, plus millions of $XRPH.
The sweep hit 4,011 app wallets in about three hours. The haul was then bridged through NEAR Intents and swapped into 445,198 DAI that is still sitting on Ethereum.
The project says staking may have exposed seeds. It has flagged the trail with exchanges and police.
Special LIVE Saturday Show: Could The Gov Seize XRP After Chilling FDIC Admission? Gas Prices Hit Record High, WOF Announcer Fired Over Pedo Chats, Are Trump's Beef EO's The Real Thing? Tune In & Share The Link Now As Alex Jones Breaks Massive News! https://t.co/4GA374LTIG
Alex Jones showed up to the XRP community and boy did he not disappoint!
On the clip he played on the stream, the US government can't seize XRP you hold in self custody. No one can as long as only you hold your keys, the US can't censor transactions either on the XRPL.
XRP is for everyone โค๏ธ๐ฏ. There's no such thing as "it's a bank asset and you can't own it".
It's open source software and the value is backed by the social consensus of us people.
Alex Jones showed up to the XRP community and boy did he not disappoint!
On the clip he played on the stream, the US government can't seize XRP you hold in self custody. No one can as long as only you hold your keys, the US can't censor transactions either on the XRPL.
XRP is for everyone โค๏ธ๐ฏ. There's no such thing as "it's a bank asset and you can't own it".
It's open source software and the value is backed by the social consensus of us people.