The Wisdom Wall

“an AI agent is going to have a hard time signing up for a credit card at a bank, and you have to show your ID, which, you know, only human beings currently can get this government-issued piece of paper. Um, but an AI agent can spin up a self-custodial crypto wallet with stablecoins”

“banks do fractional reserve. So they've lent out most of the money, and that's partly why they're so heavily regulated. They're doing fractional reserve. So in a stablecoin issuer is a hundred percent reserve. The only risk they're taking is At most a 93 day US Treasury, which most people would consider that to be, you…”

“Whenever somebody says, um, this is so scary, everybody should have to come in and get a license from the government. I'm like, well, the government does a lot of things very well, but the one thing they're not great at is like understanding the very frontier of technology. And that usually just slows things down and…”

“I actually think there's one nice thing about the crypto markets, which is there's, there's, there's not like a bailout coming, right? Like, you know, if, if, if something does take on too much risk and blow up, they, they suffer the losses. It's not the government that's going to come on the taxpayer's dime, like bail…”

“I think I've seen a lot of friends, uh, engage in philanthropy and it's, it's just like startups. A lot of it doesn't work, but the best ones do incredible things.”

“It's if when they're purchasing power or their wages are flat and then someone's getting much, much wealthier, that's what creates like the, the biggest social unrest, I think.”

“And if you can take away someone's economic rights, um, you can take away all their rights really, because if you can, if you don't have enough money to have transportation or food or housing, You'll, you know, you can't really express your other rights.”

“to make a new financial system, you had, you needed a few things, like you needed scalability of the blockchains to get the cost down and the speed, speed down. You needed regulatory clarity, and then we needed privacy of the transactions. It's actually, it's actually almost perfectly mirroring the evolution of the…”

“in some ways, like real estate is the original Bitcoin because it's like proved provably scarce.”

“I think most people should probably not be traders. They should be investors. You know, and dollar cost average, own the index fund, diversify the portfolio, have some, you know, have some in Bitcoin, some in everything, all the different pieces, so.”

“Well, it turns out if you're building in a new area, um, the law is awfully oftentimes unclear. And if your company gets big enough, you will, you will eventually intersect with government. Even if you have no interest in the government, the government will eventually develop an interest in you.”