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Author: dan morehead, founder of Pantera Capital; compilation: 0xjs@Bit chain vision world
Large -scale political turn of the blockchain
“Sometimes nothing happened for decades, and sometimes it happened for decades.” – Flachimir Iric Lenin
I have invested in Bitcoin/blockchain for more than ten years.There have been no things in the US SEC and major administrative agencies.The rational thinking in the past ten years has only occurred within a few weeks.
This is like a shock wave of sound explosion.The correct thinking in the past ten years is now impacting politics.
In May, a presidential candidate expressed support for the blockchain.A few weeks later, two of the three presidential candidates participated in the Bitcoin Conference!IntersectionIntersectionThe change is definitely huge.
Too many things happened, it is actually difficult to summarize one by one, but the following is the rapid refinement of main policy measures:
President Trump’s Bitcoin2024 conference speech: policy measures
1. Bitcoin is a “technical miracle”
“Bitcoin is not just a miracle of technology, as you know, it is also a miracle of human cooperation and achievement.”
2. Bitcoin may surpass gold
“But I want to say that this is the steel industry 100 years ago. I think you are still in the starting stage …
“It is already bigger than ExxonMobil. Soon it will surpass the market value of the entire silver …
“One day it may surpass gold.”
3. Trump’s “U.S. Priority” policy
“I am here to speak to the Bitcoin community today. It can be summarized in two very simple words: the United States is preferred. Because if we do not do this, China will do this and others will do it. Let us do it.And correctly my vision is that the United States dominates the future …
“I hope that the United States will be the first in the fields of technology, science, manufacturing, artificial intelligence and space.”
4. Let the United States become global leaders in the field of cryptocurrencies
“This afternoon, I formulated my plan to ensure that the United States became the world’s Capital Capital and the Bitcoin superpower of the world. We will complete it.”
5. The meaning of Bitcoin
“Bitcoin represents freedom, sovereignty and independence, and is not subject to the government’s coercion and control. The Bayeon Harris government’s suppression of cryptocurrencies and Bitcoin is wrong, which is very unfavorable to our country. This is really not in the United States.Spirit.”
6, encrypted friendship policy and ending “Action of Throat 2.0”
“As the president, I will immediately end the” Action of the Throat 2.0 ‘…
“I will reduce unnecessary regulatory burden. Every day, we must strive to make the United States the most suitable place on the earth, including cryptocurrency business.”
[“Action of throat 2.0” is a term used by some people in the blockchain industry to describe regulatory agencies trying to cut off the connection between blockchain companies and banking services, which forces many projects to be supervised.]
7. New cryptocurrency presidential advisory committee
“After taking office, I will immediately appoint a Presidential Advisory Committee of Bitcoin and cryptocurrency. Their task is to design a transparent regulatory guidance policy to benefit the entire industry.”
8. The supervision clarity of stablecoin
“As part of our efforts to provide a clarity of supervision, we will create a framework to achieve the security and responsible expansion of stable currency, so that we can expand the dominance of the US dollar to a new field around the world.”
9. Bitcoin will not pose a threat to the US dollar
“Those who say that Bitcoin pose a threat to the US dollar is completely upside down. I think this is the upside -down at the end. Bitcoin does not threaten the US dollar. The current behavior of the US government is really threatened by the US dollar.”
10. Hugging new ideas
“Our country has never been prosperous by trying to review new ideas and killing people. The United States always puts our banner on the next cutting edge and moves forward bravely.”
——Donald Trump, July 27, 2024, Nashville Bitcoin 2024 Conference
Sector movement
Do I fully agree with Donald Trump?Wow.
This is why I am so optimistic about the future of the blockchain.All these policies are completely reasonable.
No matter who serves as the next president of the United States, the United States is likely to formulate a reasonable cryptocurrency policy.
Everyone’s favorite is also my strong support, and it will become the theme of our long -term preparation of letter reserves (we will send it as a Blockchain Letter in September), it is: it is:
US Bitcoin strategic reserve
“Many Americans do not realize that the US government is one of the biggest holders of Bitcoin …
“The federal government has almost 210,000 Bitcoin, accounting for 1%of the total supply. But for a long time, our government has been violating the basic rules that each Bitcoin users remember:‘ never sell your Bitcoin ’.
“Therefore, as the last part of the plan today, I announced that if I was elected, my government, and the US policy is to retain 100 % of all Bitcoin currently held by the US government or in the future, and we will keep 100 %….
“This will actually become the core of the national Bitcoin strategic reserve.
“Therefore, I will take measures to transform this huge amount of wealth into permanent national assets and benefit all Americans.”
——Prexesy President Trump, July 27, 2024, Nashville Bitcoin 2024 Conference
Before President Trump delivered a speech, a third -party candidate Robert F. Kennedy Jr. delivered a speech at the 2024 Bitcoin Summit, promising to significantly increase the Bitcoin reserve.
“As the president of the United States, I plan to sign an administrative order on the first day to instruct the US Department of Justice and the US Chimes to transfer about 200,000 Bitcoin held by the US government to the US Treasury and hold it as a strategic asset.
“I will sign an administrative order that instructs the US Department of Finance to purchase 550 bitcoins every day until the United States establishes at least 4 million Bitcoin reserves and occupies the leading position that other countries cannot usurp.Gold reserves.
—— Robert F. Kennedy Jr., July 27, 2024, Nashville Bitcoin 2024 Conference
Shortly after Trump’s speech, Senator Cynthia Lummis (Republican Party of Wylobin) read her own legislative proposal and proposed that the official US Federal Reserve accumulated 1 million Bitcoin within five years.
“This is the Bitcoin Reserve Act. I read from the text that the US Senate will establish a Bitcoin strategic reserve, security repository network, purchase plan, and other plans to ensure that the federal government’s transparent management of Bitcoin …
“When Cong Ben Satoshi mined the first bitcoin in January 2009, he brought an asset that would change the world. This was our time for Louisiana.
“The Bitcoin reserve we will create will start with the 210,000 Bitcoin mentioned by President Trump and store it in a vault stored in different geographical locations. This is just the beginning. Within five years, the United States will collect 1 millionBitcoin -5%of the world’s supply.
“It will be held for at least 20 years and can be used for one purpose: reduce our debt.
“Bitcoin will change this country. As President Trump just said: ‘We have printed too much money and we spent too much money.’ During the new crown epidemic, the money we printed within 22 months is equivalent toThe total amount of money printed in American history is good, no more.
“With the strategic Bitcoin reserve, we will have an asset. During the period before 2045, we can reduce our debt by half.”
—— Senator Cynthia Lummis, July 27, 2024, Nashville Bitcoin 2024 Conference
Support
Congress Khanna (D-CA No. 17) and Nickel (D-NC 13) also attended the meeting, emphasizing the obvious things:
“I really don’t understand any parties in this party. Opposing Bitcoin is like opposing mobile phones.”
——Mor member Ro Khanna, CNBC interview, July 26, 2024
Amen.Satoshi Nakamoto gave this technology to the world.
“Making this problem within the scope of the consensus between the two parties is indeed my main focus in Nashville. This is also what I have been committed to Congress.”
——Piley Nickel, Congress, interview with Bitcoin Magazine, August 2, 2024
Sound explosion
“Camara Harris’s adviser has been in contact with top cryptocurrency companies to restart the relationship between the Democratic Party and the cryptocurrency industry in the” restart ‘.Important supporters of Trump.
Four people familiar with the matter said: “The members of the Vice President’s team have contacted the insiders of the cryptocurrency company to discuss recent meetings. Two of them said that these companies include the leading exchange coinbase, stable currency company CIRCLE and blockchainPayment Group Ripple Labs. “
—— “Financial Times”, “The Camara Harris campaign team seeks to restart with cryptocurrency companies”, July 27, 2024
Finally free
“It can bring resources and opportunities to the people who need the most, so that they can enter the market. This is the meaning of Bitcoin. This is the meaning of Bitcoin. Let ordinary Americans have the opportunity to make their own decisions at home. No matter whetherWhere do you live, no matter whether you are on the top of the mountain or the trough, there is a chance to make our financial footwork democracy is an absolutely necessary component to realize the American dream.Do it well …
“As the chairman of the Senate Banking Committee, I will definitely guarantee that one thing I will do is to watch your bill obtain it in the banking committee. We will work hard to make it a law in the United States and let Bitcoin be free in the United States. In the United States, finallyFree!
——Sensor Tim Scott and Senator Cynthia Lummis at the 2024 Bitcoin Conference, July 26, 2024, 2024
Most Americans
“‘ How are you going bankrupt? ’
Another person replied: “Two ways. Gradually, then suddenly.
—— Hemingway, “The Suns Raise as usual”, 1926
Students who do not need political majors can understand why the two political parties suddenly turned to the blockchain.
Most Americans are under 40 years old.
Almost all the Federal Reserve’s policy errors and the consequences of Capitol’s banknote printing have fallen to the heads of a small number of Americans.
Most Americans are paying for these errors through housing costs.
Since 1987, the price of housing at medium price is more unbearable than ever.
They vote.
#.
“Bitcoin -huge asymmetric opportunity”: Bitcoin 2024 conference Panel reviews
Roundtable member: Dan Morehead, founder and executive partner of Pantera; Skybridge Capital founder and executive partner Anthony Scaramucci; Cardone Digital Ventures Gary Cardone
The most asymmetric, the most indispensable transaction
Dan: “Anthony, we worked at Goldman Sachs at that time, they were doing GSCI at the time, and now everyone thinks that commodities are an asset class. I was engaged in emerging market studies in the 1990s. Now everyone thinks that emerging markets are an asset as an assetCategory. About five years later, each institutional investor on the planet will have a blockchain team.The reason is that no one now has such a distribution.
“This is the first transaction that ‘Smart Money’ missed, right? Everyone who is here has done this. Almost all institutions on the blockchain are zero or less than 1%.Essence
“This is not only the most asymmetric transaction I have ever seen, but I think this is the most indispensable transaction I have ever seen. This may take longer than what we think. It may have some ups and downs, butBasically, everyone with a smartphone will use the blockchain within ten years.
Does he still complain?IntersectionIntersection
Aaron: “You said it would take ten years to reach the market value of gold. We don’t know. It is difficult to predict, but why do you spend so long? Why spend so long to achieve it?”
Dan: “Aaron’s question is why I like this transaction. We have been doing this transaction for eleven years. In this eleven years, Bitcoin has doubled every year … and he complained that it took too long.Now, ** This ** is a great transaction! “
The political steering of the blockchain is the largest news in the field of cryptocurrency
Aaron: “Regardless of your personal point of view, if Trump wins, will this be several magnitudes for Bitcoin? Or is it as a Bitcoin holder, what do you think?”
Dan: “I really think this is the largest news in the cryptocurrency …
“I think the former president’s change in May in May is the biggest event in the cryptocurrency field, because whether he is elected or other candidates, everyone has changed.I really think this is a huge change, because now politicians are very popular when they see cryptocurrencies.Politicians can combine the two. “
Bitcoin’s killer application is Bitcoin
Aaron: “Bitcoin’s tokens are developing. Does Bitcoin need development? This is a problem. Can Bitcoin need a strong token economy to become the asymmetric bet? For exampleWill the growth of Bitcoin be limited, or how do you think of it? “
Dan: “I think it is great to build some cool projects on Bitcoin. It is great that projects like Stacks are great, but people sometimes say that the” Bitcoin’s killer is? “BitcoinIt is the killer application of Bitcoin.Development.
