Lawmaker Slams Gary Gensler For Misleading Congress
Here is the article discussed in the video:
This is something that seems to matter in the crypto world.
In this video I discuss the situation along with why it should be of no interest to anyone. To start, it is really theater. Secondly, we need to move beyond being concerned about the governments and stop looking for their approval.
▶️ 3Speak
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I guess with the increase of BTC after the ETFs were approved, the next big thing is ETH's ETF. The price and chart watchers are easily affected. From what we've seen before, it seems they have ulterior motives with these news and announcements. It looks like people haven't learned much.
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Moving without without being concerned about the government would prove to be wrong I don't think it really is a good idea because getting their approval would be Great in order to get the trust of customers.
Nevertheless it was really a nice 3Speak Video. Bravo!
That is nonsense.
Why trust those who have been screwing the population throughout history?
Well that's humans for you though, but from my own view point I think it would be nice to get their approval
Everybody is always picking on me
Capriciousness, arbitrariness, lies, and misdirection: these words caught my attention reading the article. It's funny to watch how government officials fight against each other.
Yeah. Unfortunately, it could be applied to the member of Congress most likely.
This is a dog and pony show. Politics these days is mostly theater. Hell maybe it always was.
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Summary:
The host discusses a recent article from Bitcoin.com about a U.S. lawmaker, Representative McHenry, criticizing SEC Chair Gary Gensler for allegedly misleading Congress about the SEC's view on whether Ethereum is a security. The host argues that this is just political theater and posturing, and that ultimately it will have little impact on Ethereum or the broader crypto ecosystem.
The host explains that the core premise of crypto is to operate outside the reach of government, and that Ethereum, like other cryptocurrencies, is a decentralized, ledger-based money system that is not beholden to any single authority. The host contrasts this with the traditional financial system, where the U.S. dollar and Eurodollar system are ultimately controlled and regulated by governments and central banks.
The host argues that crypto enthusiasts who get worked up over these political battles are short-sighted, and that the real key is to think like the bankers - to build durable, resilient systems that are beyond the control of any single government or regulator. The host believes that the crypto community is too focused on price speculation and government approval, rather than on constructing a truly sovereign, decentralized financial infrastructure.
Overall, the host's main point is that the crypto ecosystem should not be overly concerned with what regulators like Gensler say or do, as the fundamental premise of crypto is to operate independently of government control. The host believes the crypto community needs to take a longer-term, more strategic view, and focus on building robust, decentralized systems that are impervious to government interference.