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This is going to encourage US-based Ethereum users to stop runnning nodes, and users outside of the US to start running nodes, just to weaken the SEC's outrageo

This is going to encourage US-based Ethereum users to stop runnning nodes, and users outside of the US to start running nodes, just to weaken the SEC's outrageous argument. The narrow-minded attempt by the SEC expand its jurisdiction, and by extension, budget, is going to cause long-term harm to US innovation and competitiveness. Another option is for the entire Ethereum network to cloak itself behind an onion-routing network, which given the evident desire by many people to prevent people from using cryptocurrency and force them to submit to centralized regimentation of private financial interaction - even at the expense of basic internet freedoms - may be a prudent step to take.

boc 4y ago
I’d make the opposite argument. Losing ETH will allow US devs and companies to work on actual technologies which are useful for society broadly.
- ETH_start 4y ago
  I assume you're not familiar with the developments in the space, like the growth of stablecoins ($20 billion to $140 billion in two years) and their proliferation across numerous domains and developing economies. This is extremely consequential to US national interests, as at the moment, the USD is the primary collateral backing stablecoins, which means that stablecoins could usher hyper-dollarization as a result of their ability to extend the USD's reach to all corners of the world. More generally, a free market generally works better than the government dictating, on the basis of centralized binding judgments on what is useful, that particular technologies cannot be worked on. The former is consistent with US values and the latter is the province of top-down controlled societies like the PRC. The latter lacks the humility to acknowledge that you may not know everything and you may support the wrong centrally imposed plan on other people.
- traveler01 4y ago
  What a closed minded take on cryptocurrencies. There are a lot of people in countries where they government fu** up turning around to cryptocurrencies to hold their funds.

boc 4y ago

I’d make the opposite argument. Losing ETH will allow US devs and companies to work on actual technologies which are useful for society broadly.

ETH_start 4y ago
I assume you're not familiar with the developments in the space, like the growth of stablecoins ($20 billion to $140 billion in two years) and their proliferation across numerous domains and developing economies. This is extremely consequential to US national interests, as at the moment, the USD is the primary collateral backing stablecoins, which means that stablecoins could usher hyper-dollarization as a result of their ability to extend the USD's reach to all corners of the world. More generally, a free market generally works better than the government dictating, on the basis of centralized binding judgments on what is useful, that particular technologies cannot be worked on. The former is consistent with US values and the latter is the province of top-down controlled societies like the PRC. The latter lacks the humility to acknowledge that you may not know everything and you may support the wrong centrally imposed plan on other people.
traveler01 4y ago
What a closed minded take on cryptocurrencies. There are a lot of people in countries where they government fu** up turning around to cryptocurrencies to hold their funds.