Vote If You Like, But Remember: “Cypherpunks Write Code.”
Vivek Ramaswamy, the new presidential candidate with an appeal to the crypto class, is the latest. The groundbreaking Republican candidate said at Mainnet, a crypto conference organized by Messari in New York City, that he would soon announce a comprehensive crypto policy framework to address current regulatory gaps.
The mandate is reportedly about three-quarters complete. If the plans are “serious” or “considered,” Ramaswamy can be a guide for those who already hold power or aspire to it. It’s not because of his Indian heritage that he is known as the conservative version of Senator Liz Warren. A little fickleness could improve blockchain’s chances on The Hill.This “announcement” of an announcement is also an opportunity for crypto to think about who it wants to be in bed with. Some industry insiders, like Messari CEO Ryan Selkis, who interviewed Ramaswamy during a fireside chat, consider themselves “single-issue voters” who are particularly concerned about government interference in the blockchain industry. But let’s not determine this nation’s top leader solely based on whether or not they like Bitcoin.Let’s vote against or for any candidate, regardless of their crypto view. There are other things that are more important than regulating stablecoins. It’s hard to ignore that politicization is nothing more than rhetoric. No one can be elected to office who improves or derails Bitcoin or Uniswap.
Practically speaking, it is almost certain that thinking about crypto from a political perspective is a waste. Once you start basing your decisions on what the government allows when it comes to crypto, it’s game over.
This is a statement I’m making at a time when the US president has more or less declared war on cryptocurrency and the country’s top regulators are regularly making their rounds, picking one target after another. I am aware that there are real legal implications for crypto and regulatory indecision in the US. The developers should not be afraid of jail for simply publishing code.
It’s almost embarrassing that I have to write this article. But engaging in politics to secure the future of crypto would be to miss the purpose of crypto. Crypto doesn’t need political support, it just needs to be built in a way that is above politics.
It’s not even an ideological argument, but the reality of blockchain.
Projects that rely on approval from executives, regulators, and judges are doomed to fail (just as a code vulnerability *should* be exploited). Bitcoin is still around for a reason, but projects like LBRY no longer exist. If a project has a weakness, it will be exploited. All crypto projects are subject to the whims of the law.
There is no reason why a future president won’t be even stricter on crypto. Gary Gensler was expected to champion cryptocurrencies, but look how it turned out. Why should blockchains be subjected to four-year elections if they are meant to last for centuries?
I won’t say that elected officials like Sens. Cynthia Lummis, Kirsten Gillbrand, and Rep. Tom Emmer are all pushing crypto legislation. Blockchain Association lobbyists said crypto’s short-term viability depends on the number of pro-crypto seats in the legislature.
There is no way to know whether pro-crypto politicians and regulators do more harm than crypto opponents. For example, the “megadonor” preferred set of rules that would have protected his fraudulent exchange FTX could well have caused even greater damage. Cryptocurrency opponents are helping cryptocurrency gain a foothold.
Bitcoin is apolitical now, but not for long | Opinion Crypto has a political platform, whether it is called libertarianism or “classical liberalism”: platforms that are widely accessible and built privately. Crypto appeals to both progressives who support means-tested government programs and conservatives who believe that free markets mean free people.
Why paint something as postmodern and wonderful as Bitcoin in red or blue? There are politicians who want to be associated with cryptocurrency ultra-liberalism but don’t think about what impact it will have on their other concerns. This is largely a “real” phenomenon, as politicians like Ted Cruz and Ron DeSantis criticize non-existent CBDCs.
Aliens Exist. Aliens exist. | Opinion Ramaswamy’s willingness to cut ties with Donald Trump’s staunch support for the US dollar is telling. Bitcoiners tend to be wealthy and believe that problems can be solved by throwing money at them. It’s a bit sad that Ramaswamy only had to announce an incomplete set of rules and scoff at the “alphabet soup” of federal regulators to become one of the leading crypto pols in the field.
Further down.
Vote if you like. Remember: “Cypherpunks are code writers.”
