Oceans of Wisdom

I think progressively better coding agents but not ASI will be very helpful to us

it will come during DJT's term

but if we have to go progressively it helps to know where the safe harbor is

in principle if we could make the leap in 1 giant step, you don't need the clarity act and maybe we don't

the only true and proper version of decentralization is one where we don't have to worry who wins the USA elections

but by then, we use Clarity as stepping stone and aim to be fully decentralized in any case

and that we get a politicized stupider approach to crypto from next SEC

and I think it is possible that the Republicans lose after DJT

It is perfect timing. I want to see what the Clarity Act looks like in final form to make sure we meet its requirements. If SEC had stayed as it was, I would have been thinking about ways to launch elsewhere, but it is preferable to do this under the banner of 'merica if possible

The relevant window we need to hit is: 1. After the Clarity Act 2. Before President AOC

on #1, there is still a level of systems thinking that I have that I have not yet found someone else that I think could take it from 0 to 1 in my absence, but once it is out in the world, it is a lot easier for others to help

1. Me getting run over by a bus before we decentralize 2. Nothing else IMHO

Ask me about what it looks like to do accounting for 258 addresses and also every single mint of the memes is a tax event (not each card, each mint)

so I am a combination of "extraordinarily compliant and corporate on that type of thing" and "extraordinarily risk taking on thesis"

as are taxes taxes taxes

not on the fund

the securities law, howey test issues are all over here

"buy NFT and send it to the SAFE"

regulatorily and taxwise

but its actual operations are much simpler

the fund had fund type compliance stuff

no taxes are mostly here and there were many ways one could have gone wrong in Genslers SEC

that is what @[6529Guardian] and @[itsjpower] are here for (along with other things of course)

6529 network state is not going to go down because we did not fill out all the forms correctly and send all the money to the right place

part of being extremely serious people making extremely aggressive moves

we are extremely diligent on legal, regulatory, tax

our second biggest expense each year is taxes

and every year since

correct

1/ I went tens of millions in and said "ok, enough, need to keep some crypto on the side" 2/ will raise the rest from my buddies, then put the rest in bc they were too slow 3/ then actually put more in, borrowed to put more in, was unofficially personally guaranteeing the cash flow in here and also owed the IRS millions of dollars because guess what happens when you sell 2013 era BTC

It was something like

negative $8M

was messing with my head

to temporarily be actually short a material amount of BTC

psychologically for me

which was the most absurd few months of my life

and owed a buddy a lot of BTC

at some point, I was actually -$8M net worth in the crypto side of my personal balance sheet

is downstream from #4 and me being around a loooong time in crypto so I have a view on how a decentralized protocol has to work starting with the cultural, social, etc aspects

the things that @[0xCuttlefish] was saying about culture, attracting the right type of people

4/ fully committed to decentralizing, which is the ultimate survivability

easily an order of magnitude more efficient than the average web3 team

3/ extremely cost-efficient team for the amount of things we get done

2/ If I had not and raised money differently, I would have had to give up governance rights and would have led to all types of decisions that would be different

Without this, nothing else that I am about to say would be possible

1/ Capital structure is first and foremost and my major "sacrifice" to do this: I put a huge amount of my net worth and almost all my crypto net worth so that I could launch it with me in charge.

vs zero

no going to do lowish amounts

but everything else too

what you mention above