Warner-Portman-Sinema v Toomey-Wyden-Lummis

Opens August 6th 2021 on a Washington standoff between two infrastructure-bill amendments, Warner-Portman-Sinema and Toomey-Wyden-Lummis.

The Lummis amendment carved out reporting exemptions for developers, validators, and miners for business as usual, but a new Portman amendment exempts only mining not proof of stake, creating unclear compliance.

Says if the bill passes the industry goes to negative clarity, since a stake pool operator cannot report a pseudonymous delegator's KYC to the IRS when the protocol has no such notion.

Asks what it means for wallet software and DeFi like Uniswap and Chainlink whose users might now face KYC and reporting requirements, and finds it inconceivable the White House prefers this anti-clarity amendment.

The amendment will not kill the industry but will offshore big chunks, letting the US cede its financial-superpower status to China, Europe, and the developing world while hurting American entrepreneurs for no reason.

The industry did not pick this fight, but lawmakers targeted crypto assuming a weak lobby versus pharma and banking, and that blockchain writes everything down immutably including votes, so politicians will be held accountable.

He invests in Africa, the developing world, and Wyoming because those governments work with the industry, unlike this monstrosity backed by a White House claiming environmental friendliness while favoring dirty mining over green validators.

Warns the deficit and debt are in the tens of trillions with 6 percent inflation and no plan to balance the budget, and that most money laundering uses cash while crypto millionaires leave a trackable fingerprint, so this only hurts small stake pool operators.

For the first time open-source software has impossible-to-comply-with regulatory components, since a developer cannot know who uses their software with no commercial or custodial relationship, yet the ambiguous text lets regulators decide they must report.

He is surprised Washington would go down this damaging road after all its abuse, and that every person who votes for it should lose their job, with the authors either malicious or incompetent.

Calls for reform at the ballot box with term limits and new voting since these people violated the public trust, and says embracing the future via crypto, metamaterials, nanotechnology, and synthetic biology is the only way out.

Asks why anyone would start a company here if job creators are punished, suggesting Switzerland, Liechtenstein, England, Germany, or Cape Town instead, with the CFTC and SEC bickering and contradicting each other.

Every time the industry agrees to pay taxes, suddenly proof of stake and developers get targeted, likely ending in a Supreme Court lawsuit or an unenforced regulation, like Colorado marijuana businesses legal by state but criminal federally that cannot get bank accounts.

He is convinced the federal government will not reform itself, so the country needs a constitutional convention with two-thirds of the states rather than lobbying a tone-deaf, corrupt, nepotistic Congress, to end gerrymandering, add term limits and a balanced-budget amendment, and reform the executive branch.

The only way out is entrepreneurship and new industries, so attacking them makes America a collapsed empire and one of the poorest countries in 20 to 30 years, calling this amendment a Bunker Hill shot.

Urges everyone to donate to and vote against every lawmaker who votes for it or run against them, and to fundamentally change the country's DNA before nascent industries are destroyed and companies are bought by foreign entities.

Warns a collapse means 10 percent interest on the debt and printing money for 15 to 30 percent inflation, since America is not immune to monetary physics despite modern monetary theory.

People remember these things, and the millions who tattoo logos and volunteer tirelessly will not roll over but will vote people out and push legislation for 5 to 15 years, becoming a tireless minority that one day is the majority.

The amendment does not disrupt Cardano since they operate mostly in Africa, but it means hiring fewer people in Wyoming and Colorado, less US software development, and no US-company relationships, while tax compliance stays identical so nothing is gained but jobs destroyed.

Recounts a timeline of empires from the Assyrians and Minoans to Rome and China where power was proportional to size, and asks whether America's 200 years will keep growing or contract, since you stay on the scroll by leading with wisdom and listening.

America is led by people in their 70s to 90s who do not understand the internet and wish the world worked like their 1950s childhood, while the next generation has ideas and the last has wisdom, but instead the public is lectured as trust is violated, so half of people now scorn even the White House and Capitol.

Entrepreneurs like SpaceX compensate for NASA's bureaucracy, and asks everyone to watch whether Lummis or Portman wins to learn what government the US has, since the industry cannot survive ambiguity or being regulated out of existence.

Compares the industry to an uncle whose children steal from his wallet, a piggy bank the US wants to grab, saying the government has a right to tax revenue but not to destroy businesses, and that he is sad the industry's capital may not be Wyoming or the US though the Ethiopia and Africa work continues.