hi everyone charles broadcasting from warm sunny colorado currently 10 42 at night still got work to do but i figured make this video interact with you guys the community so i was just in a twitter spaces uh with around 2000 people and janna brought it on a lot of different people are there and we're kind of trying to dissect and understand uh the infrastructure bill and the amendments and uh you know the point of this is to talk about let's let's be productive let's be real about what we can do today and what we can do until saturday when the vote occurs looks like we have an uphill battle but there's a lot of things that can be done right now and they can be done after the event however those cards fall so uh if you are in the united states you have two senators for each state and you have a congress critter who lives in your district find out who they are and let it be known that this is something incredibly important to you uh so whatever state you are in there's two of them call them up and say this is what i care about please do call email and write a letter do all three uh you know you hear that a lot but if there's a tsunami wave of passion and support here then that's at least something to get the pump primed uh second dennis is going to send me a list of all of the pro crypto congressional candidates senate candidates and other politicians what we'll do is process that list and i'll see if i can get a website or have someone in the ecosystem create a website to list all of those who have taken pro crypto positions i think this should be an industry-wide effort it's very important that the industry come together set the maximalism aside and realize that there are greater concerns here and if something like an infrastructure bill can be used to so dramatically change the face of our entire industry and the compliance requirements then we have to understand that this is the first of many salvos that are coming our way so it's incredibly important that we attach political consequences to attacks on our industry that means that every single person who votes for this upcoming amendment uh the portman amendment they need to suffer both a primary challenge with a well-funded primary challenger and they also need to have a well-funded uh if they win the primary opposition candidate regardless of what your political leanings are left or right you know just pick the opposite get money to them and if we do this in mass then there's a really good chance that they'll take notice and make it be very very clear that the number one reason why this is occurring is because the bill was passed they voted yes on something they shouldn't have voted on that's political consequences um we'll try our best to get as much media attention as possible here uh and of course um we'll try to educate as many people as we can so i'll talk to my general counsel joel tepner tomorrow and see if we can get him to write a blog post on our website defining what exactly this amendment actually means and what consequences it could conceivably have now on the technology side there are a lot of things we're exploring with realfly about the ability to introduce compliance and regulation into decentralized systems using dids so there is some potential that we can have a compromised solution there uh but as a wholesale situation where there's no de minimis provision and you could be a stake pool operator offshore and a single u.s participant delegating to you could inadvertently make you a criminal is an extraordinary thing and it just shows you the inhuman inflexibility of this type of legislation so we're not out of the fight yet uh there's things to do uh bills to pass or revoke and we'll see what happens with the vote on saturday but we should remember the vote on saturday and that will be recorded the vote and every person one way or the other we're going to remember and those who vote no on this horrendous amendment they instead vote for loomis's and that's at least something and those who vote yes we have to create political consequences for that so they know they can't come and victimize our industry so between now and saturday the best we can accomplish is write your congressman write your senators and let it be known that you're not happy about this and educate others and longer term we need to support political candidates who are blatantly against this i maintain my position that the only way we're going to get out of this longer term is by a constitutional convention because i no longer feel that the federal government has the capacity to actually govern a society as complex as ours and we need a new system of government to actually be able to accomplish this now let's say the disaster scenario occurs and this bill is passed as written i will try to work with coin center and others to get at least some modicum of clarity of what the hell does this actually mean for stake pool operators and those who create defy and deploy that d5 so i have a meeting on monday with fred regard the ceo of the cardano foundation we have a weekly meeting usually and we'll talk about the foundation financing um some the production of some memo memoranda specifically targeted towards u.s law in this respect and we'll see what we can do there and we can see what type of legal clarity can be cropped and of course we'll try to get that to be as public as possible for state pool operators this is in the remit of the regulatory mandate of the cardinal foundation and we'll do what we can on our side to at least explain how we understand things are happening i'm not a lawyer i do work with many lawyers and we talk all the time about uh regulatory concerns uh but it is my belief that regulation is coming and this is not the only element of regulation hit our industry more is coming and it can either be very positive or very negative and this is kind of a testing the waters moment and depending on how our industry works together is going to completely determine if that regulation is positive or negative in the united states to those who are competitors of cardano or who personally don't like me or think i'm a horrible human being and i ask you please for the sake of the industry set aside these feelings and recognize that we all have to work together the bitcoin maximalist has to work with the ethereum maximalist has to work with the polka dot fan has to work with the tezos fan the cardano fan we are all in the same boat you might not want to go buy my cabin and you might want not want to go by the taito's cabin but if the boats brings a leak we all drown that's the reality that we're in and regulation in the united states can have a dramatic impact on global regulation and even if you attempt to offshore the places you can go will diminish and diminish and diminish to an extent where you can't go anywhere and you have to operate completely off the grid not good for anyone this is an event a moment for the industry as a whole to come together i call upon coinbase and blockstream and so many others consensus parity labs to come together work together and get us to a point as an industry where we can overcome this extremely dangerous and damaging legislation and you have to make real commitments put your neck out there tweet about it blog about it write articles about it donate money hire lobbyists if somebody came to me and said we're gonna set up five million dollar lobbying fund i'll cut the check tomorrow if coinbase came to me and said that let's do it let's get this together as an industry and get this done we can compete uh in the realm of ideas and the realm of research these things are fine in fun and easy to do but this regulation this attack on the industry will just as hurt ethereum as it does cardano so regardless of where you said about your opinions of these things we have to set the rivalries and distances and differences aside and recognize the existential threats that bad regulation creates so you the listener whoever you are whatever you believe call your senators and congressmen if you're in the united states email their offices and write them do all three so they uh like can get armies of letters you know hordes of letters second uh we have to identify the politicians who are pro-crypto from anti-crypto the especially virulent anti-crypto ones they should suffer the consequences of a primary challenge every time they run that's legitimate well financed a lot of negative campaign ads and a well-financed opponent and look forward to that cycle after cycle eventually will get rid of them and replace them with candidates who don't make these mistakes that attack us and longer term we need to fundamentally change the way the us government works for my part i'm just a private citizen there's not much i can do and we are a recipient of this bad regulation we can certainly innovate as we are doing with things like prism you know we're building great technology there are certainly ways we can embed regulation into transactions and create white lists and do all kinds of cool things for regulated defy that's a component of what we like to call realfi real finance however there's only so much we as one company can do or we as one industry can do this has to transcend all of it and everybody has to come together at the end of the day this is your nation if you're american if you don't care about these things someone else who does will decide your economic life your rights how your finances going to work and ultimately how you make money inconceivable to me that deep down inside you don't care because many of you listening have jobs you go to work 8 hours 10 hours 12 hours a day some is brutal work some of you listening have to drive trucks or stand on roads holding a sign as it's 110 degrees outside some of you have to drill oil wells some of you perform surgeries some of you are well qualified professionals in the accounting and legal space if you're willing to trade the best years of your life for money to do these things either out of passion or the well remuneration of it then shouldn't you ought to care about the nature of markets and if the money in your pocket is sound and it's worth anything the point of our industry has always been at its core to examine the systems of humanity whatever they may be the voting systems the money systems the property systems the way we regulate the way we communicate all of these things and put them on universal rules that are equally applied to everyone regardless of who they are where they happen to be born or how much power they or their family possess this industry has the potential to radically change the human condition for the better and regulators have the potential to radically change this industry and enslave this technology for the worse i don't want to live and i don't think you want to live in a world where we had the chance for each and every person to live better but we robbed it for them because it was too inconvenient to participate in a political process and create political cost for robbing it from us indifference is the greatest evil because it enables the greatest evil and we are all to blame if we're indifferent this is one of those moments there aren't many of them but this is definitely one where everybody no matter how big they are how small they are can play a role in the future and if we don't it's going to be decided for us by people we've never met don't have our best interests in mind or even understand the magnitude of the decisions they're making we've gotten to a point where the proverbial jar jar banks is giving the chancellor immediate emergency war powers that's what's happened here you can pick your favorite senator to apply that label too but the outcome is the same if this vote goes the wrong way it's going to be the first of many in that direction if they get stung and feel the consequences of this attempt congressmen and senators will be extremely careful in the future to attack this industry in its nascent stage as we grow if we show unity if we show strength if we show a unified message and we show there are consequences for interrupting us in the transformation of society for the better things will work out if we show division rivalry maximalism pettiness and apathy and cynicism and indifference we will get what we deserve the utter obliteration of our industry over the long term and its enslavement by the few for the benefit of the few at the expense of the many so as franklin once said a republic if you can keep it and that's where we're at my life's work has always been with this technology to get it out into the masses to evangelize it no matter the cost because i firmly believe if it's done right i can look back at the arc of my life and say that we made a difference each and every person is a little better off because of the things i did and we did together that's the point and that's why we keep fighting we won't give up if bad bills are passed bad laws are passed we won't give up if we're the only people on the battlefield because i will remind everyone long time ago the first bitcoin meetup group i signed up for only had two people who signed up for it right on capitol hill in denver you know what i was one and there was another guy i showed up and the other guy didn't so i had a long conversation with myself about how much i love the white paper and drank coffee thinking about this technology and now trillion dollar market caps later and tens of millions of people running around the world and real political power later reflecting upon that less than 10 years later is a pretty remarkable thing and if we keep this rate of growth and progress 10 years from now we won't even care about what a trillion dollars is because the very concept has been replaced with something else our industry has invented and we won't talk about the millions we'll talk about the billions and we can rise above and overcome these things yet for this great sequoia to rise high into the side sky 300 feet 400 feet takes time and good soil bills like these apathy indifference fragmenting are the kinds of things that poison the soil and prevent the roots from taking hold and we will never see something that great if we work together as an industry we can undo these poisons and allow unimpeded progress towards that future that we'd all like to see or at least i'd like to believe we'd like to see and it's your choice i know where i'm going to be fighting alone or together doesn't matter i'll be on the field and it's up to you to decide where you want to be tomorrow you have to make that decision you can call you can write you can email you can donate and you can create political costs and consequences if you run a business in this industry you can blog you can tweet you can let your voice be heard that we will not go silently into the night and let them know that part of the treasury of your corporation your company your endeavor will be devoted to undoing the harm that is being done and maybe next time they won't go after our industry and they'll let that soil be fertile and let us grow or you can choose to do something else but you deem to be more important maybe it is who knows but you have to live with the consequences of the things you do and the choices you make and too many days of indifference is what creates totalitarianism too many days of indifference is what robs you of the things you think you're entitled to constitutionally or otherwise we've seen a lot of that in the last 30 years in this nation in particular and we're not too far away from losing a lot more because there's a group of people who think we don't deserve it anymore and why should we because we never did anything with it we were indifferent to it do not allow us to wake up in that reality not too distant future so that's it hope we work together anyway i'll do my part and i hope you guys do too i've always been an optimist and i believe we will i believe we can we shall get out everyone
