NSC

samdane7777

more circumventive attempts to ban permissionless defi and force 3 party doctrine, travel rule, and gary genslers version of hyper controlled undemocratic intermediary 'approval' processes. Not good faith from these people, constantly using aml to enforce undemocratic SEC laws. What is the point of this bill? My industry is trying to do policy and get bills brought to the floor, which Nancy Pelosi continues to block, & this bill strips due process for crypto, so that everything is an arbitrary target. It's too easy to send stablecoins to random poor brown people in war torn areas, and of course they cry foul on russia, iran etc, and worse yet this is clearly coming from big banks and gary gensler not wanting permissionless DeFi to exist. They are so furious that we are making money without their nepototistic insider approval process that the boomers blocked us out of. ​ > Vinay u/leashless So this New Social Contract (NSC), let's examine things like bored apes. In this contract, kids who grew up with an ipad in their hand acquiring virtual property in games and trading it with friends, go from \*renting\* virtual property from Farmville to \*creating and owning\* it. Why is an ape valuable? The younger generation decided it was valuable. Why \*isn't\* this golf course valuable? The people that thought golf was at the centre of the universe are all too old to play much This is a generational turnover of wealth, an escape from a locked-up world Because there's \*practically\* no law in (for example) defi or the NFT game. The ICOs ran afoul of old school financial regulation. But the NFTs are bang in the middle of open ground: you draw a thing, the government says you own it outright if it isn't Mickey Mouse. You sell it. So now you have tons of cultural production - young people making art for young people - but the distribution channel is OpenSea, and that's also owned by... young people. And their fees are light. The younger generation are Exiting the Boomer Machine to live on their own terms. 25 years ago, John Perry Barlow (I met him once!) wrote the Declaration of Independence of Cyberspace Does any of this sound familiar to you? Now let's discuss the New Social Contract's critics. Who's getting so het up here? Why all the hatred for Web3 these days? Let me tell you where the action is: it's the people who are waiting around to inherit their parent's houses who are telling you that this NFT thing is no good and YOU SHOULD GET BACK INSIDE OF THE MACHINE WHICH WILL ONE DAY PAY MY PENSION. Because this "defection" hurts them. The more the young define their own system with their own rules, the more the old are missing out on the deal. But they're mostly not watching this: Warren Buffet is an exception, and he called BTC "rat poison" remarkably early. But he's the rat. But mostly the old missed it. Then the bridge generation, the one doing the complaining, clogging the airwaves with NFT hate and trying to coerce artists and brands into staying away. What do they have to lose? The answer is: they're late to the party, and were hoping to WIN AT THE OLD GAME in the future. The well positioned chattering classes, the media and academics, want to inherit the system that the young are refusing to join and actively working to undermine. They don't have real power \*yet\* but they know if the system stays up, in 20 years they'll run the next TED/Davos.

suninabox

i don't know enough about how monero works to say if it works on the same principle. if its a principle of "lets all put our dirty money into a pot, shake it up, then withdraw it, so no one knows whose is whose", that's a fantastically great idea to make sure the FBI, NSC, CIA etc to fund money into those pots so they can see where all the illegal money is coming and going.