When I started exploring web3 in 2021, I never thought it would turn in to what it is today. Yes the meme & 4chan culture existed back then but it felt like a small minority vs today, I feel as though true builders & artists are now the minority. Let me be clear, there are TONS of amazing people in this space but unfortunately it's always the loudest ones who get the most attention. Yes I'm looking at you, founders, who roll over onto their backs for tech giants & Donald Trump(?)

The idea of decentralized finance used to excite me(and still sometimes does) but when I see the people paving the way for this, I get scared. Why? they're purely profit focused. and I get it, people need to live and pay bills but it gets to a point where it's simply just greed. I used to hear about a lot of use cases for decentralized finance for those who were in developing countries or real people who have been debanked due to their career choice (no i don't mean anything illegal lol) not 20-something yr old men who stream their day trades in their rentals.

Part of me feels as though we should be building for those people, not VCs & angels who are looking for their next exit.

~deregulation~

Do you actually feel as though deregulation is the answer? I don't (walk with me!!!!)

I do believe we need regulation to a certain extent otherwise, wtf is the point? really? why put someone like me in charge of someones brain surgery? Same shit. I wanna go through a few deregulated industries to show you some of the pains we feel today.

Financial Sector (2008 Global Financial Crisis)

• Deregulation: The repeal of the Glass-Steagall Act in 1999 allowed banks to engage in riskier investments.

• Failure: Excessive risk-taking, particularly in the mortgage-backed securities market, led to the collapse of Lehman Brothers, Bear Stearns, and Washington Mutual, triggering a global recession.

Airline Industry (1978-Present)

• Deregulation: The Airline Deregulation Act of 1978 removed government control over fares, routes, and market entry.

• Failure: While it led to lower fares and increased competition, it also caused frequent bankruptcies (e.g., Pan Am, TWA, and Eastern Airlines) and industry consolidation, reducing competition in the long run.

  Telecommunications (Post-1996 Telecommunications Act)

  • Deregulation: The act aimed to increase competition but led to a wave of mergers and price fixing.

  • Failure: Many telecom startups, such as WorldCom, collapsed due to financial mismanagement and accounting scandals.

I understand the want to do this very quickly but good things take time, rushing regulations has never ended well. plus, you all say we're still early right? we have the time to chill out and really think about how crypto can benefit real people and work with politicians + people in power who truly believe in this. Not someone like Trump who is only bullish on it because someone told him to be. I feel as though the industry would benefit more in working alongside Mark Cuban as he's very bullish on crypto, is ethical, and educated.

Culture

You guys scare me sometimes lmao (there i said it!!!!) and not because of the trolling/4chan culture, but the lack of back bone. I didn't expect an industry so bullish on decentralization to bend a knee to a geriatric that knows nothing about crypto and has scammed so many people out of their money?

I've given up on trying to reason with his supporters on why he's a bad person in general but they seem to only understand things in financial terms. Here's some of his debt-to-asset ratio for you guys to take a peak at ❤️

In 1991, Warren Buffett estimated that Trump had about $3.5 billion in debt while his assets were valued at $2.5 billion, which would indicate a debt-to-asset ratio of approximately 140%

source

In 2021, Trump’s business debts were estimated at around $1.3 billion. Forbes has previously reported Trump's net worth in the range of $2.5 billion to $3 billion in recent years, suggesting a debt-to-asset ratio between 43% and 52%

source​

He's used high leverage in his real estate deals, leading to multiple bankruptcies and financial restructurings. For example, his companies have declared bankruptcy six times due to overleveraging and an inability to meet debt obligations​

source

So, my questions for you are this:

Do you put profit over people? Are you okay with deregulating crypto by any means necessary?