CHRIS2PHΞR CHASΞ

@mobymedia Its INEVITABLE because the will of man and freedom trends toward decentralization. Us gov, internet, crypto. And w crypto we have the tool to pull this off on many levels and many industries. all benefiting from trustless permissionless @ryanberckmans @zackbshapiro

@ramahluwalia @TradingHaven Hey @ramahluwalia have you looked into @enzymefinance protocol for this? It's onchain fund management @Mona_El_Isa and team have been building this out for over 5 years now

@TradingHaven You got it. And, if someone owns a lot of crypto they can vend their interest into the ETF and not pay taxes. They walk away with the ETF exposure.

If you run an ETF, and you don't have to worry about short-term capital gains (due to in-kind transactions) What would you do? You would make fewer long-term investments and focus on in-year performance That means you would own more momentum factor I see that here in GQG's ETF Separately, GQG's story is one of the most interesting around. They are a unicorn multiple times over since they started with $0 aAUM in 2016. 5 years after they launched their ETF, they management company went public. Generating $500 MM in revenue and high margin business... I have yet to meet a VC that knows this story. Reminder: In-Kind transactions is distinct from 'tax loss harvesting' It's similar to Real Estate's 1031D rule. If you sell real estate, you can buy another real estate asset within a certain time frame and not pay capital gains. I believe this tax opportunity is mostly ignored and mispriced... largely because ETFs have either passive strategies, or they are not designed to take advantage of that loophole. (Who is doing active rotation?) I share a bit more about this concept on lumidaetf.com

@ccurious7 @AriDavidPaul @lex_node Only trump and the right are allowed to flip flop when convenient.

@AriDavidPaul @lex_node Towards the end of 2020, then head of treasury, Mnuchin, was explicitly anti crypto. I can't quite remember who said this but I *think* it was Allaire of Circle "they want to punch crypto in the face on their way out." Probably paraphrasing.

Paul Krugman is one of the most influential thinkers in leftist and dem circles, and calls crypto a "political threat"....that party needs a purge of the old guard before we should "engage" or do anything but praise Trump and Republicans for their bold pro-tech policies

@MonetaryWonk Boxing needs 2 iron out their rules, just like swimming, track, etc. obvi this outrage should accelerate that, but I’m just tired of seeing everyone jump to conclusions w/o any regard of the nuance due to their political leanings. Oddly enough it’s always the ones who scream DYOR

@Chris2pherChase Anyway, I agree it’s more complicated than what is described on X. Still don’t think it’s right that someone should be able to compete with this sort of advantage, especially in boxing. Good discussion.

Maybe someday common sense will triumph over politics. Not sure why anyone thinks it’s a good idea for biological men to complete in women’s sports,

@MonetaryWonk The rules will get all ironed out soon and we can hopefully move past this. But from the sound of it, DSD gives the woman an advantage in combat sports due to being able to produce testosterone

@MonetaryWonk Yea I did further digging and it seems there is a DSD disorder while rare would fail this test, but also means the person is actually woman. Appears to be what this boxer is claiming as well, DSD, being raised and thinking she was a female her whole life

@MonetaryWonk it was a testosterone test. elevated levels of testosterone, which any real woman could have failed for performance enhancement. The level of testosterone permitted in a woman’s body remains a point of contention in the sporting world. Its not so clear that this is a man/woman

@Chris2pherChase They failed the gender test.

@MonetaryWonk Elsewhere…“I think further digging is in order. She is a girl and raised as a girl with many childhood photos to show it. Pretty sure she doesn’t have the male parts” haven’t dug into it just know actts pushing this r biased & always miss nuance due to their political stupidity

@MonetaryWonk Again, I thought the issue was that the boxer insists they are a woman, born a woman. Is this not the case? Is it well known this person was a man? No one wants to see men beating woman in sports. Also funny enough this person has many losses for being a “female boxer”

@MonetaryWonk When I say acting I mean they are not forthright that they were a man/trans

@MonetaryWonk Isn’t the issue here that the boxer is acting like they are a woman? I have yet to see where an elite competition has knowingly let or allowed trans people compete.

@MorningBrew @scottsantens Wait so this ran through the height of Covid? That has to have some negative effects

1/ Sam Altman gave low-income people $1,000/month for three years, no strings attached. Now, the results of one of the largest guaranteed-basic-income studies are in. Let's get into it.

@MonetaryWonk This is @Travis_Kling and he’s been saying this since 17 IIRC

Bitcoin described on CNN. Maybe he’s been reading my posts? 😂 Happy to see the narrative is catching on.

@collins_belton Thanks. I can see where this is beneficial for crypto vs SEC but could be very damaging to the norm and safety nets that are clearly needed in society.

@Chris2pherChase Mix of both. I do agree some admin agency activity has gone rampant, but I also think we need frameworks that allow efficient handling of complex subject matter through deferral processes. That said, I want to fully get through decision & "see what remains" before opining further

There it is. Entering new territory.

@Fwiz @Optimism I’m curious, is this commit hard-coded or is it a promise?

@MonetaryWonk @econoar But it makes logical sense in that staking was removed, everything else about this ETF will be a literal copy/paste from the BTC ETF. Therefore less back and forth since they all just ran this drill. But I still give it <50% chance of it happening, just not as low as the crowd

@Chris2pherChase @econoar I saw that, and great read, but I find it hard to believe there wouldn’t be more back and forth in advance from the SEC if they intended to approve. My guess is Gensler declares ETH a security and denies.

@MonetaryWonk @econoar U might find this useful, esp regarding the level of engagement.

@econoar Unfortunately, doubtful based on the reported level of engagement from the SEC. Biden/Gensler have been a disaster for crypto and I don’t see that changing. I’d love to be wrong tho.

@ljin18 @jchervinsky I am curious about the second bucket, any info?

I've been spending a lot of time at the intersection of AI and crypto. We believe the coupling of the two is critical to making AI more equitable and user-owned. Sharing quick thoughts about what we’re seeing:

@MonetaryWonk Surely MMTers have a rebuttal to this? What is it?

I think my biggest beef is the focus on the govt as the creator of prosperity and not markets. Truth is, banks and millions of investors direct investment, and history shows they do it far better than the govt. See collapse of communism.