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Leister

๐Ÿ‘ค Speaker
1620 total appearances

Appearances Over Time

Podcast Appearances

Crypto Talk Radio: Basic Cryptonomics
The CLARITY Act Is Short-Sighted As Written

Because once again, once the investment is resolved, meaning I sell that asset to somebody else, once I've sold it, that person's off the hook.

Crypto Talk Radio: Basic Cryptonomics
The CLARITY Act Is Short-Sighted As Written

The original issuer is off the hook because there's no longer a contract implied contract between the two.

Crypto Talk Radio: Basic Cryptonomics
The CLARITY Act Is Short-Sighted As Written

The other part of this one, which I do somewhat like is it expects that this is all part of an actual product.

Crypto Talk Radio: Basic Cryptonomics
The CLARITY Act Is Short-Sighted As Written

So if you have a presale where they're telling you, it's going to be a blockchain, there's going to be a blockchain for this.

Crypto Talk Radio: Basic Cryptonomics
The CLARITY Act Is Short-Sighted As Written

They're saying that all of this is contingent on the maturity prospect.

Crypto Talk Radio: Basic Cryptonomics
The CLARITY Act Is Short-Sighted As Written

So if you get to a point, if you say, I'm going to do a presale, I'm going to give you a blockchain.

Crypto Talk Radio: Basic Cryptonomics
The CLARITY Act Is Short-Sighted As Written

And I say, and this goes to claims.

Crypto Talk Radio: Basic Cryptonomics
The CLARITY Act Is Short-Sighted As Written

If I say the blockchain is going to do X, Y, Z, it'll do D apps.

Crypto Talk Radio: Basic Cryptonomics
The CLARITY Act Is Short-Sighted As Written

It'll do games.

Crypto Talk Radio: Basic Cryptonomics
The CLARITY Act Is Short-Sighted As Written

It'll do all these things.

Crypto Talk Radio: Basic Cryptonomics
The CLARITY Act Is Short-Sighted As Written

And you make it do that.

Crypto Talk Radio: Basic Cryptonomics
The CLARITY Act Is Short-Sighted As Written

So you've matured the blockchain, you delivered on these projects and products.

Crypto Talk Radio: Basic Cryptonomics
The CLARITY Act Is Short-Sighted As Written

Then they're saying we can remove the security designation from that token that backed it because now it created a utility.

Crypto Talk Radio: Basic Cryptonomics
The CLARITY Act Is Short-Sighted As Written

where the token now or coin can now have its own value, its own intrinsic value, as opposed to being beholden to promises that may or may not fly.

Crypto Talk Radio: Basic Cryptonomics
The CLARITY Act Is Short-Sighted As Written

So if you picture it, it's saying that for the duration of this, your lofty promises, your BS promises, and all these things you say you're going to do in a presale and you want my money, you are subject to scrutiny by the government.

Crypto Talk Radio: Basic Cryptonomics
The CLARITY Act Is Short-Sighted As Written

and you must deliver and if you don't deliver there's all sorts of penalties and criminal penalties and everything else you're like this is perfect right so why then are you against it follow me i'm not done the third category they call it specifically a permitted payment stable coin they're stable coins and some stable coins sole purpose in life is to

Crypto Talk Radio: Basic Cryptonomics
The CLARITY Act Is Short-Sighted As Written

enable a transaction, enable a transfer, enable an exchange.

Crypto Talk Radio: Basic Cryptonomics
The CLARITY Act Is Short-Sighted As Written

It's not for the purposes of direct payment issuance.

Crypto Talk Radio: Basic Cryptonomics
The CLARITY Act Is Short-Sighted As Written

For example, if you wanted to, as payroll pay your staff in stable assets, certain stable coins, you would not do that with you're using it to benefit the chain, let's say, and the stability of the value of the chain, or you're using it locked into liquidity pools to support transfers and exchanges, a permitted,

Crypto Talk Radio: Basic Cryptonomics
The CLARITY Act Is Short-Sighted As Written

payment stable coin in their definition specifically is for settling payment transactions.