So, I’m exercising this morning, hitting the elliptical machine. While doing so, I started watching a YouTube video on etherium smart contracts because I want to better understand how they work...
For some reason, my mind started wandering. It’s not that the video was boring. I just started thinking forward about the evolution of the crypto space as smart contracts become prevalent, along with some other things.
What blew it for me was when I remembered how the regulators are waiting in the wings to squash everything and try to make it fit into their neat and tidy view of themselves...
I had an idea of trying to write my best, most persuasive letter and send it to the 435 representatives in the House, 100 Senators and The President (while copying to a few newspapers), advising them to adopt a completely hands off approach, laissez-faire all the way, and no taxes. See what happens.
( There’s a place for the law in cases of fraud and theft - blockchains can serve investigators... But proactive regulation makes no sense at all, especially when one looks at their track record- which is not very good.)
It occurred to me though, that by explaining the potential, I would also be making appeal for them to accept that the social order they represent is no longer useful for those of us who are in cryptoland.
It is, in fact, virtually bankrupt. An argument that crypto people should be allowed to go on without paying their pound of flesh to support anachronistic structures would likely be viewed as presumptuous and insulting.
“Who is he to be telling us such things?”, might be their thought.
Then, via some weird, subconscious association, I remembered DH Lawrence (picture below), who wrote Lady Chatterly’s Lover, which was a scandalous post World War One novel. The traditional scuttlebutt is that the story was ‘pornographic’ with coarse, low brow language (from the Mellors character in particular) and frank sexual depictions. But the story was also a scathing metaphor on the impotence of British society (via the Lord Chatterly character, who was paralyzed from the waste down because of an injury while serving in the war.) . The aristocratic elements, who were devastated by that conflict, were deeply insulted by Lawrence’s very accurate description of their bankrupt empire. They didn’t want to hear it. So, the book was banned in the English speaking world.
Millions of pirated copies went on to be sold. Neither DH Lawrence (who died shortly after publishing the book) nor his heirs or estate received anything as far as I know...
Would a simple letter describing why crypto currencies are better than the dollar centered monetary system elicit a similar kind of disdain? Probably not. There is plenty of that sentiment coming from establishment elements already...
Maybe I better not send that letter. What would be the point?
They’ll figure it out one way or another...
