Following Bitcoin Cash on its rise to global reserve currency.

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Sunday, 30th October 2022

#63:

REGULATION & TWITTER TAKEOVER

feat. Joël Valenzuela

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Crypto going sideways

USD $116.42 (up barely). 1 BTC = 178 BCH (down barely).

1 ETH = 13.6 BCH (down).

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SBF proposes crypto standards

• Founder of FTX
• Advocates for:
• Instantly updating OFAC compliant blocklists
• “Trusted entities” having a “suspect” list
• “Comunity norms” of hackers returning 95% of funds
• Licenses for DeFi web frontends
• Creating regulatory capture to profit from it

https://www.ftxpolicy.com/posts/possible-digital-asset-industry-standards

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Erik Voorhees replies

• Bitcoin OG and libertarian
• Agrees that regulation is inevitable, but stands to the principles of regulating centralised intermediaries
• Draws a red line at allowing web frontends for DeFi backends to be regulated as financial institutions
• Makes salient points that crypto has been burned before with the BitLicense

https://www.moneyandstate.com/blog/response-to-sbf

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BitBoy weighs in

• Multicoin crypto Youtuber and early Bitcoin adopter, runs BitBoy crypto channel with 1.43 million followers
• Calls out Ryan Sean Adams, SBF and Brian Armstrong as “devils”
• Claims language from the bill is “stolen” from his own proposed regulations
• Advocating crypto “for the people”

https://protos.com/bitboys-unhinged-video-rant-really-does-encapsulate-crypto/

https://youtu.be/o2dhgZopyBs?t=243

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Erik Voorhees debates SBF

• Most of the video is similar to the clip
• Erik speaks less than 25% of the time, but makes clear, succinct, crypto friendly points
• SBF rambles with lots of cognitive dissonance and gibberish, seemingly “anticipating even worse outcomes” by hoping to regulating out DeFi

https://www.youtube.com/watch?v=Ytaa_5liwMA

https://twitter.com/artofbagholding/status/1586117772005605376?s=46&t=AedJQEXP4f-9P6oSq3gn5g

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BCH Bull launches

• BCH Bull (General Protocols implementation of AnyHedge) is now out of beta
• Congratulations to the team!
• I have tested it and it works great
• It will also iteratively improve fast
• AnyHedge has also been integrated into Paytaca Wallet
• Permissionless innovation should snowball

https://bchbull.com/

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Elon buys Twitter

• After much back-and-forth, the deal was closed
• Elon arrived at Twitter HQ carrying a sink (??)
• Immediately fired CEO, CFO and head of legal compliance
• Elon promised to unban Trump & other lifetime bans, then backtracked by saying he was creating a “council” to manage unbannings
• Is this going to shake up global conversation? DOGE pumps +120% 7d

https://twitter.com/elonmusk

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Legacy is here

• Mastercard announces crypto integrations with banks via Paxos
• Visa files some patent information around opening a crypto wallet
• PayPal announces fines for $2.5k over “misinformation”, then walks it back after outrage, then reinstates it once furor dies down

https://twitter.com/i/events/1582048091674484736

https://twitter.com/hodgetwins/status/1585596632170643457

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Stat of the week

https://twitter.com/GRDecter/status/1586090166716100609

US Federal debt at $750 B for interest payments, same as the annual US military spend. Heading to $1 T.

@GRDecter

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Community comment

of the week

https://twitter.com/VentureCoinist/status/1582876365853929473

Luke Martin

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Patrons!

• Ricky
• HP

Start guide, FAQs, links at www.bitcoincashpodcast.com

Thanks to donators, Podcash streamers, Patrons

Shoutouts for the show

bitcoincash:qpkj0eqc374wauydl7zvzxg0dx94c9r9ksu7xxmjsh

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