cryptocricket - mfer AF @cryptocricket2

53 banking associations just wrote themselves a $6.6 trillion protection bill. They called it the CLARITY Act. Here is what they do not want you to understand. Banks pay depositors 0.1% interest. Stablecoin issuers hold Treasury bills earning 4.5%. If stablecoins could pass that yield to users, banks lose the deposit war. They cannot compete. The math is fatal. So they made competition illegal. The Kansas City Fed calculated what happens if stablecoins pay competitive rates. Banks lose 25.9% of deposits. $1.5 trillion in lending capacity vanishes. The entire community banking model collapses. Their solution was not innovation. Their solution was legislation. The CLARITY Act everyone is celebrating contains Section 404 prohibiting yield payments through any mechanism. Not just from issuers. From exchanges. From affiliates. From partners. Every single pathway to competitive returns, closed by statute. Brian Armstrong reviewed the 278-page draft for 48 hours. He withdrew Coinbase support at 11pm. The markup was postponed by morning. He saw what Wall Street analysts missed entirely. This is not crypto regulation. This is Dodd-Frank for digital assets. Incumbents writing rules that crush competitors. Regulatory capture so brazen they published the lobbying letters on their own websites. The American Bankers Association. 52 state banking associations. The Community Bankers Council. All coordinating to eliminate an industry they cannot beat in open markets. Meanwhile China made e-CNY interest-bearing on December 29. America is banning stablecoin yield while Beijing is paying it. The crypto industry spent years begging for regulatory clarity. They got it. Clarity that $6.6 trillion in deposits will be protected at any cost. Clarity that banks write the rules. Clarity that if you cannot win in markets, you win in Congress. This is the largest regulatory capture event in American financial history. And it is being sold as innovation policy.

Brian Armstrong @brian_armstrong

5 months ago

After reviewing the Senate Banking draft text over the last 48hrs, Coinbase unfortunately can’t support the bill as written. There are too many issues, including: - A defacto ban on tokenized equities - DeFi prohibitions, giving the government unlimited access to your financial

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A cow takes grass (inedible to humans) and produces: - Meat (complete protein + fats) - Milk (complete nutrition) - Leather (clothing, tools) - Tallow (cooking fat, soap, candles) - Bones (tools, broth, fertilizer) - Organs (nutrient-dense food) - Manure (fertilizer) This is complete resource utilization from a plant humans cannot eat. You cannot replicate this with any technology. The cow is performing chemical transformations we cannot industrialize. Grass → complete human nutrition is alchemy. The cow is worth more than any machine humans have invented. It runs on rain and grass. Produces multiple products. Builds soil while operating. Sequesters carbon. Reproduces itself. And we're told to eliminate them for environmental reasons. While flying in almonds from California and soy from Brazil. The stupidity is breathtaking.

Love this 😂

Peter Girnus 🦅 @gothburz

7 months ago

Last quarter I rolled out Microsoft Copilot to 4,000 employees. $30 per seat per month. $1.4 million annually. I called it "digital transformation." The board loved that phrase. They approved it in eleven minutes. No one asked what it would actually do. Including me. I

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🚨 EDWARD SNOWDEN’S CHILLING WARNING IS NOW UNFOLDING IN REAL TIME What China built… is exactly what Western governments are quietly preparing for. Snowden is crystal clear: Every photo, every purchase, every message, every movement — all of it is being fed into algorithms that decide your future. In China, AI “city brains” now track: Where you live Who you visit How you dispose of your rubbish Every step you take in public Whether you “follow rules” or not Break a rule? A camera catches you from three angles. Your score drops. Your life collapses. Snowden’s warning: “If any of your activities differ from what the government wants, you won’t get on a train. You won’t board a plane. You won’t get a job. An algorithm will decide your fate. And what they are selling… is us.” This is not a future threat. It is happening now — in Shanghai, in Beijing… and creeping into the West through digital ID, AI policing, and “misinformation scoring.” China built the prototype. Our governments are importing the blueprint. Stay informed. Stay alert. Do not let this system take root.

CEO's question: What will be the hourly cost of work of a humanoid robot? Several projections have been published, e.g. by @CernBasher, @adam_dorr and @GoingBallistic5. Here's my take. I've produced a long-form video on this question (see link in comments). Here is the essence - based on very conservative assumptions (see attached image). - Production cost: $30,000. A humanoid is ~5% the mass of a passenger car. The costly parts are actuators and gearboxes; the rest is electronics, sensors, a few kWh of batteries, and plastics—components that are highly scalable in volume manufacturing. - Operating cost: $30,000 per year, of which $18,000 is human oversight and coordination. This is likely way too high. - Operating time: 6,600 hours per year (330 days × 20 hours/day). That equals the yearly working time of more than three people. - Work speed vs. humans: 100% initially. As with industrial robots, later generations will likely reach 200%+. - Business model: Most manufacturers will offer Robot-as-a-Service (RaaS) rather than selling units, because it drives far higher revenue and margin. Expect an initial one-time fee roughly equal to manufacturing cost plus a usage fee per year, month, day, or hour. - Service life (incl. repairs): 8 years. - Market dynamics: Because humanoids will be highly profitable to use (see below), demand will ramp quickly. But many suppliers will enter, so sustained overly high monopoly pricing is unlikely. Result: Based on these assumptions, a humanoid work hour will cost at most $14. That’s the highest realistic value. With learning effects and scale, the hourly cost will drop below $10 and likely below $5. @rethink_x even projects that by 2035 a humanoid hour could cost less than $1. By comparison, a skilled worker’s fully loaded hour is $42.53. Strategic consequence: In competitive markets, companies will have no real choice: first to replace labor shortages, and soon to replace existing roles. Even at $14/hour, the financial advantage vs. human labor is close to $200,000 per robot per year. I’ve published a three-part video series on the societal implications of this inevitable shift (see comments). Urgent advice: If you make or move anything physical, start rethinking your business around humanoids—as a supplier, service provider, or user. It is quiet now, but the ramp-up will be fast. How about you? Which tasks would you deploy humanoids for first?

The people who've lived under socialism will risk barbed wire, bullets, and oceans to escape it. Meanwhile, the loudest advocates for socialism live in capitalist nations, sipping Starbucks, tweeting from iPhones, and whining about “late-stage capitalism” while enjoying its abundance. They don’t move to Cuba. They don’t relocate to North Korea. They don’t even apply for a visa to Venezuela. Why? Because deep down, they know the truth: Socialism is only tolerable when someone else pays for your fantasies. The people fleeing socialist regimes aren’t confused. They’ve lived the outcome: poverty, rationing, corruption, fear. The Western socialist, meanwhile, has never had to stand in line for bread, only for the new iPhone. Rather than learn from those who escaped tyranny, they arrogantly believe they’ll “do it right this time” as if the laws of economics, human nature, and moral reality will bow to their feelings. It’s not idealism. It’s resentment in disguise. They don’t want to lift the poor. They want to punish the successful, tear down what works, and be applauded for the rubble they leave behind. They're not revolutionaries. They're just spoiled children with slogans, trying to drag the world back to the misery others fled.

Banks should not be able to trap your funds and data with them and make it difficult for you to access your data or move your capital to wherever you see fit. That is your human right and foundational to the proper functioning of the system of capitalism that our country was founded on. This is the spirit of Open Banking and that's why I have signed this letter urging President Trump to support Open Banking. Onward! 🇺🇸🚀

Financial Technology Association @fintechassoc

11 months ago

1/ Today, we sent a letter from over 80 CEOs across industries urging @POTUS to support open banking and oppose anticompetitive fees on consumer data access set to take effect next month. #OpenBanking #FinancialFreedom

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What happened to "Don't be evil" ? Wholesale financial surveillance of innocent individuals (not even accused of a crime!) is evil. It violates the presumption of innocence. It violates the ethical principle of respecting your neighbor. It violates the 4th Amendment of the US Constitution, easily. To all the wallet devs now confronted with this: do not comply. If you do, your business will be utterly gutted and you will spend the next year being absolutely miserable while your company dies and all your customers tell you how much you suck. Abandon the Google Play Store, move to a mobile web PWA solution, or find some other creative solution. Maybe smash your Android phone, throw it into a ravine, and post a video encouraging others to do the same. Have respect for yourself and your customers. Do not comply. Do not be "pragmatic." Google has decided to be evil, so now it is your turn. This is where you take a stand, if you ever do.

The Rage @theragetech

11 months ago

New Google Play Store policy forces AML/KYC on non-custodial wallets in the US, effectively bans non-custodial wallet developers from Play Store in EU Full Story👇 therage.co/google-play-st…

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I decided to donate $500K to @rstormsf’s legal defense. Originally, we planned to give $50K, but after what happened to me, I need to take a clear position so everyone understands what @class_lambda stands for. I understand that the @ethereumfndn will be matching donations up to another $500K for Roman Storm’s defense, which means our contribution can have double the impact. Our team is currently moving money to execute the transaction. It should be done in the next few hours. I'm going to sleep after not sleeping for the last 48 hours. Open source and decentralization are not just philosophical ideals. They are practical necessities for building crypto. Success in this space comes from building in the open, onboarding others, and creating movements that grow beyond the original project. That is often hard to explain to people who do not share this ethos, because we are not optimizing for the same outcomes. Our mission is to help build the highways of the new internet in sustainable ways. Economic sustainability is one part of that, but not the only one. We also exist to counterbalance the natural pull toward centralization, a side effect of pure optimization. Centralization is easier and cheaper in the short run. If our only goal were to make money, there are far simpler ways to do it. But money, to us, is just a tool to reach our goals. Roman’s legal defense matters because builders everywhere need to know they can push innovation forward and that the community will stand behind them when they do. The West became powerful because it embraced freedom and its innovators. Progress came from protecting those who challenged the status quo and building systems that allowed their ideas to scale. When we stop defending our innovators, we stop building the future. The community can contribute to @rstormsf's legal defense here: freeromanstorm.com

@friedberg

William Huo @wmhuo168

11 months ago

China just fired up the reactor that could power the world for 60,000 years. The West had it first, and threw it away. China takes bold step forward in global race for limitless energy device: 'We have fully mastered the core technologies' share.google/jegK3X8C2yT6jM…

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China just fired up the reactor that could power the world for 60,000 years. The West had it first, and threw it away. China takes bold step forward in global race for limitless energy device: 'We have fully mastered the core technologies' share.google/jegK3X8C2yT6jM…

China–Iran Rail Link Defies Sanctions—Israel Strikes Back Just days after China and Iran launched a direct overland trade route that bypasses U.S. naval power and sanctions enforcement, Israel struck Iranian targets. The message is unmistakable: Washington and its allies are rattled. The new rail line—part of a $400 billion pact under China’s Belt and Road Initiative—connects Xi’an to Tehran in 15 days, slashing delivery times and avoiding chokepoints like the Strait of Hormuz and the Suez Canal. No U.S. warships. No surveillance. No sanctions enforcement. This isn’t just infrastructure—it’s a strategic breakthrough. Iran, long targeted for isolation, is now a central node in a rising Eurasian corridor linking China, Central Asia, Russia, and the Mediterranean. The U.S. campaign of “maximum pressure” has failed to contain it. While Washington scrambles to blacklist Chinese and Iranian firms, and India’s U.S-aligned Chabahar ambitions stagnate, Beijing and Tehran are laying what Iranian officials call the “steel arteries of independence.” Trade is moving. Sanctions are eroding. Control is slipping. Coincidence? Not likely.

@africanacademia @AfricanHub_ Go back to school

Isn’t this worth a Bankless episode? @RyanSAdams @TrustlessState

zak @0xzak

a year ago

𝕭𝖆𝖘𝖊𝖉 𝕸𝖔𝖓𝖊𝖞 𝕽𝖔𝖑𝖑𝖚𝖕𝖘 𝔉𝔦𝔵𝔦𝔫𝔤 𝔈𝔱𝔥𝔢𝔯𝔢𝔲𝔪’𝔰 𝔈𝔠𝔬𝔫𝔬𝔪𝔦𝔠 𝔅𝔩𝔞𝔠𝔨 ℌ𝔬𝔩𝔢 ᴛʟ;ᴅʀ ɪꜱ ᴛʜᴀᴛ ʙᴀꜱᴇᴅ ʀᴏʟʟᴜᴘꜱ ᴇɴꜱᴜʀᴇ ᴇᴛʜᴇʀᴇᴜᴍ ᴏʀᴅᴇʀꜱ ᴛʀᴀɴꜱᴀᴄᴛɪᴏɴꜱ ʙᴜᴛ ᴛʜᴇʏ ᴅᴏɴ'ᴛ ᴇɴꜰᴏʀᴄᴇ ᴇᴄᴏɴᴏᴍɪᴄ ᴀʟɪɢɴᴍᴇɴᴛ.

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What an absolute banger! 😂😂😂

@PeterMcCormack Wen podcast?

Jeffrey Sachs on Why Europe is Failing

Yes please @twobitidiot! Keep doing what you are doing!

@digitaldavide @Laurastacksats @seiitiarata That’s what is the lid is for… 🤦‍♂️

Great speech @JDVance

Collin Rugg @CollinRugg

a year ago

NEW: JD Vance speaks at an artificial intelligence summit in Paris, France, tells European and Asian leaders that the United States will dominate A.I. Imagine VP Kamala Harris giving this speech. "The Trump administration will ensure that the most powerful A.I. systems are

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