Consensus 2024: All eyes on regulation | Video

Bitcoin, you can’t, it’s not really transactional now because you have to pay taxes on every purchase, right? If they, if you, if you pass by, you know, apple or lunch, you have to do it, you have to pay tax on it. And this is not a good result. We may need to make them transactional. We need to make them transparent. And uh, uh, like I said, decentralized, if it’s a technology that has a ledger and a source of truth, you’ve solved two big problems, right? You have solved the source of truth and then the time at which this truth is updated. So we looked at it and said, OK, this will eventually lead to an atomic settlement and allow for a simultaneous monetary transaction and a trust confirming who both parties are. You will incur a huge number of costs as a result. So, you know, we’re in an industry where there’s constant pressure on us to lower the cost of delivering what we do. I looked at it and as a company we said this is going to be the future, the future is already here. Everyone, the future is here on the set. Let me help you here. APPROX. I see. Tighten it up a bit. It’s a bit blurry. Do I need to see? Here you go. Yeah, if you take your hands off, I think a lot of people in Silicon Valley have Stockholm syndrome and you think, oh, I love being controlled by Apple and I don’t really understand why, but I think I will, I think I’m on the verge of breaking out of prison . I think it starts to happen where people start to taste freedom. Again. The Internet was supposed to be owned by people who were supposed to be owned, and it was supposed to be a community of people coming together. It wasn’t supposed to be for the companies that control it. This is not a good state of the world. I don’t believe this is a stable state of the world. I think entrepreneurs will fix it. That’s what we do here by consensus. We bring gifts for our coho. Does this look good? And then we’ll go into the clouds about what’s going on here. There are many positives to remaining anonymous. Hmm, but there are many disadvantages. Of course, it gets very hot here, especially because of the humidity. This isn’t really a bear market. This guy is probably from last year’s winning Danny’s Bulls team. Hello, five. APPROX. That there would be enough playing time for all of Wall Street to not be a participant in digital markets is a regulatory uncertainty. It’s the fear that the feds will call and say no, no, no, you can’t do this. Uh, the fear of the SEC is going to be coming up their throats. Uh, the feeling is that they’re going to get a well notice like almost all crypto companies do. And when that goes away, you will see the panic of Goldman Sachs, Morgan Stanley, Citibank Jeffries and everyone else in this space. I hope that in some way, I hope that it gets delayed a little bit, which allows guys like us to build a little bit stronger muscles, because that’s really when the big show happens about who’s going to be the service provider of the universe that’s coming in. It seems very incongruous to put money market funds on cryptocurrency rails while Bitcoin on traditional ETF rails. But it’s actually part of a very long journey. And this journey is intended to be a bridge between traditional finance, where people have trillions of dollars of traditional assets kept away from Bitcoin and other asset classes. We would like to, we would like to serve as that institutional quality bridge, and what we’ve seen uh from the current SEC administration over the last few years is a deep and broad examination of everything that we do, and it’s not just us, it’s virtually every company in our space . It really makes my heart stop a little and I realize what it must be like to be in the shoes of these people who have this idea, they are just trying to do something that is technically interesting and Always in the back of my mind comes the thought the question is whether this thing will cross the line in a second, today, in five years or in 10 years. And this kind of uncertainty is really harmful to innovation. It’s shocking to me that the United States, the largest economy in the world, represents, you know, the lowest style of regulatory transparency. I think once you actually unlock the US economy and the real institutional money flows in, I think 10, it’s just hard to predict some growth opportunities. But the main thing I will highlight and like is where is this going? We need to talk about more than just speculation, you know, III. I hear things like this a lot when I say things like this, but I’m going to say it anyway. I don’t think Dogecoin has been a good thing for the industry and I’m not against Dogecoin. I went but it seems I don’t know what the use case is. I don’t know if there are any projects being developed to solve real usability. And I see a lot of real utility in a lot of different, you know, chains. And I think that’s what’s most important and that’s what this 10-year forecast is all about for me, it’s not about speculation, it’s about solving real problems. Freedom of transaction is equally important. Freedom of speech. The only way out of all these, you know, terrible crises that we’re in, including the debt crisis and, you know, the crisis, the crisis of emerging totalitarian systems. The only way out, the most obvious way out, is Blockchain.