Great post.

Lot's of people were myopic, and never asked: *why would the current President, who chooses the SEC chair, magically replace Gensler with a person using a monkey avatar? I never understood the calls for Gensler's head. We've lost nothing in the current crypto regulation landscape except a shitload of bad actors, from Mashinky and Fried, to CZ and Bitzlato. Hangman Gensler has quite a few victories to hang his hat on. Most products showed they had no value, and even less decentralization; cease and desist and a phone call proved to be viable enforcement strategies by the S.E.C. And If they had no decentralization, they were companies, that should be regulated like every other company.

Nic bet the fast-looking horses, belly-flopped amongst his VC circle, and burned his reputation amongst a nasty twitterX base he helped build, who he knew loved tar and feathers. Now he's lashing out with big words, long denials, and misplaced blame. The denial phase still. How many original bitcoiners have I seen go down like this? Richard Heart was one of the best (most don't know this) before his satanic fall into HEX shitcoinery.

I think Nic has a lot of valuable things to say still, he just needs to grow up. Would love to read some thoughtful stuff by him. And that nasty X crowd... he might need to do what Andreas Antonopolous (prolly spelled that wrong) did. Leave. Help build an Umbrel. Write an O'reilly.

jmho