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  • you know, you mentioned Gary and I'll finish on this, you know, he recently said to the public quote, we've got a lot of casinos here in the wild west and the poker chip is these stable coins.

  • Um, clearly this is something in their crosshairs, but as I said, I'm also watching of course where Gary is going into detail about this technology, you know, just curious to finish up on the regulation is at one point sometimes frustrating to hear that said by such a high member of the government on on something that could completely innovate, not just the american economy in the world.

  • And then part of you also does it think, well, maybe this is just uh posturing to get people to do the right thing and fall in line with regulation.

  • Do you have either one of those thoughts?

  • So look, I'm a survivor of the dot com boom and bust.

  • And I can tell you that There were over 10,000 companies created during the.com bubble.

  • And how many of them are still around?

  • Very, very few.

  • Right, very few survivors.

  • But each one of those survivors is worth trillions of dollars.

  • So anyone who's expecting a different outcome from the crypto revolution from this Blockchain revolution uh, is going to be disappointed.

  • We have 12,000 projects, right uh, tokens and coins.

  • There are several 100 block chains competing with each other, right Giordano and ethereum and, and so on, so on and there's no room for several 100 of them.

  • Right?

  • So, so, so I think people have to understand that that when they're placing bets on all these different tokens and they think that all of them are going to the moon.

  • Uh They're wrong.

  • And I think that's the warning that the sec commissioner and other people are saying just because we have this massive Innovation, uh I call it the Cambrian explosion of of innovation doesn't mean that you can pick a winner out of this 12,000 different tokens.

  • So, so I I agree that that uh today many we don't sell assets.

  • We don't try to sell your stuff, you have to buy it somewhere else.

  • We just create yield and issue loans.

  • Uh So I think that's part of why we will may be spared because we're not trying to shill different coins of different tokens to to the retail customer.

  • But but you can only earn stuff with us stuff that you already have, right?

  • So we are like I said trying to do good.

  • But I understand why regulators would be concerned when companies are just uh promoting these things as if they are guaranteed they're trained to uh financial riches.

  • So we we have to be responsible.

  • Also we meaning the community have to be responsible.

  • And if we're not responsible, somebody will come in and and set these rules for us.

you know, you mentioned Gary and I'll finish on this, you know, he recently said to the public quote, we've got a lot of casinos here in the wild west and the poker chip is these stable coins.

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A2 responsible regulation gary revolution innovation stuff

Crypto Is Like The Dot Com Boom ? Alex Mashinsky of Celsius

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    林宜悉 posted on 2021/10/18
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