HR 1602 — The Eliminate Barriers to Innovation Act of 2021 and the Death of Crypto
You idiots in crypto believe this shit and that's the worst part

HR 1602 — The Eliminate Barriers to Innovation Act of 2021 and the Death of Crypto

By AlucardLife | cryptoinvesting | 22 Apr 2021

It's going to be difficult for me to keep my mind calm enough to type these sentences out. The sheer ridiculousness of this garbage. And what's worse is some folks, dare I say most of you clowns, will see this as some sort of breakthrough.

I'm trying to slow my mind down. HR 1602, the "Eliminate Barriers to Innovation Act of 2021," recently passed Congress. It's really crazy to see Orwell's doublespeak live in action, and it's even crazier to see people accept it just like they did in the fuckin book. Eliminate Barriers is all about the CFTC and the SEC coming together to form a digital asset working group, whatever that means.

Idiots in crypto will see this as the "regulatory clarity we need to expand adoption to Grandma!" They see it as the fulfillment of "regulation that is bound to come whether we like it or not." Here's what I believe.

do believe that government hall monitors will write words on paper whether we like it or not. I also believe that most of you believe we must accept those words on paper if we are to move forward. As a result, I must modify my investment and political strategy around your cowardice, ignorance, ineptitude and brainwashing, because I can't do much of anything by myself. Instead of crypto flexing its muscle and telling governments what the terms are, those of us who think like me will be branded as radicals and have to spend all of our time convincing you that regulators don't have any more power than what you just gave them.

I don't even know how to type that in a way that will hit right. Just the fact that I have to market that viewpoint, that I have to create some catchy one-liner for it, shows just how fuckt in the head everybody really is.

In my research into crypto-based business, I have found that most of these new companies are just middlemen who advertise their ability to help other companies navigate the regulatory swap the CFTC and SEC have created. You know, the ones created by the government worms who then resign and start a K Street consulting company to walk you through the bribes you have to pay to get around the regulations they just created.

In the meantime, my solution is to take my financial and intellectual capital completely out of the US. I'll start my blockchain company elsewhere. Even better, it will be a DAO based in the virtual world, completely outside of the jurisdiction of ANY fuckin government. No fees, no fines, no nothing. You can do that now, you know.

Does that mean I won't be partnering with Microsoft? Probably. Does that mean that most investors will look over my innovation because my partnerships tab isn't full of well-known names? Likely. Do I care? Nope. Because I still have the ability to completely ignore all of these companies and people and still live well. I won't be living in some grass hut cut off from society. Crypto gives you the ability to make money at scale completely outside of the jurisdiction of physical nation states.

Right now, crypto puts the individual entrepreneur in a position to negotiate with every government around the world like Musk or Bezos negotiated with states and the feds in the US for no taxes. No matter your citizenship, no matter how big or small your business, you can now move that business offshore for better terms. If folks took their ball and went virtual, the CFTC and SEC would quickly find that they don't even have the leverage to consider creating some faggity ass task force to define this industry. Go regulate the air, bitch.

But by the time most people realize this, the "Eliminate Barriers to Innovation Act of 2021" will have expanded into a set of laws that completely "eliminate" your ability to conduct that negotiation.

And good riddance. The saying goes that "you get bitcoin at the price you deserve." I bought my first bitcoin at 3 digits. I didn't believe, so I didn't buy a lot. That's why I'm not super rich right now. I got what I deserved.

You'll get what you deserve in terms of regulation as well. If you don't have a plan for yourself, you can bet someone else will. If crypto doesn't believe in itself, you can bet that oligarchs will have a perfect narrative of their own for crypto to fit into.


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