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From YouTube: W22: Legal WG: Continuation of Proposal Terms
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B
Well,
I
am
road
tripping,
I'm
in
still
in
northern
california,
in
the
redwoods.
Basically,
so
it's
really
nice,
I'm
going
to
there's
like
construction,
so
we're
gonna
hang
here
for
most
of
the
day
and
then
drive
like
all
day
saturday.
Basically,
seattle
well
to
olympia.
First,
I
have
my
dad
lives
in
olympia
and
so
we're
going
to
stop
by
and
say,
hi
you
know
and
probably.
B
A
B
With
two
horses
and
fruit
trees
and
I'll
probably
sleep
in
the
shift
pod
just
to
see
if
my
burning
man
I'll
check
up
all
my
burning
man
gear
and
see
because
brent
evan
is
probably
gonna
happen
this
year.
So
is.
A
There
is
there
any
any
date
set
or
for
the
burn.
A
Okay,
okay,
good
good,
all
right,
good
plans,
yeah.
What
are
you
passing
to
I'll
pass
it
to
sean.
C
Hey
everyone
hope
everyone's
doing
well.
None
of
my
plans
are
as
good
as
your
guys
is,
but
tons
of
tomatoes
are
coming
in
in
the
backyard,
so
we'll
be
picking
up
a
bunch
of
fruit,
and
some
of
our
trees
are
coming
along.
We
got
blueberries
coming
in,
eggplants
are
starting
to
come
in,
so
we'll
spend
our
time
out
in
the
backyard
making
sure
everything
is
nice
and
fertilized
for
for
spring
and
summer,
and
otherwise
that's
it.
Passing
over
to
you,
libby.
D
What
I'm
doing
for
the
weekend,
I'm
so
tired
of
the
lockdown.
Here
it's
really
like
what
else
can
I
do
at
home?
You
know
like
creating
things
to
distract
myself,
but
I
I
started
to
learn
the
guitar,
so
maybe
I'll
be
practicing
a
little
bit
and
I
passed
to.
E
E
So
yeah
and
I
pass
it
to
decentralized
sdgs.
G
Well,
I
had
read
this
article
in
the
new
york
times
about,
like
the
yolo
culture,
like
sort
of
how,
in
the
black
plague
after
there
was
like
a
mass
death
like
people
started
questioning
religion,
so
not
not
as
dramatic
obviously,
but
as
people
are
coming
sort
of
as
lockdowns
are
easing
or
they're
where
people
are
just
becoming
fatigued
with
it.
There's
like
a
yolo
culture
building
up
so
this
this
might
cause
like
a
lot
of
disruptions
in
society.
Some
super
beneficial
channeled
the
right
way.
G
So
there's
this
one
lake
that
I
like
it's
probably
a
little
too
cold
and
I
was
gonna-
go,
maybe
skinny
dipping
in
it
if
no
one's
there.
G
That's
my
one
like
very
small
thing,
but
everything
else
is
quite
mundane,
but
I'm
trying
to
build
on
my
yolo
culture,
that's
more
or
less
yeah
the
general
plan
and
who
you
passing
into
I
get,
did
griff
go.
A
H
Thank
you,
nothing!
It's
like
my
quarantine
weekend,
routine,
I'm
going
to
my
parents
house
and
I
will
spend
some
days
there
I
like
to
to
spend
time
with
them,
but
also
like
during
the
weekend
during
the
weeks
like
to
be
in
my
place.
So
it's
nice
and
yeah.
I
think
that's
it
santi.
Did
you
say
what
you
were
going
to
do.
A
No,
I
haven't
yet.
Thank
you
juan
carlos.
Well,
I
have
two
good
news.
One
is
saint
george.
Today
I
was
telling
grief,
and
so
I
may,
after
the
meeting
I
may
just
get
out
and
just
walk
around
the
street
and
and
get
some
books,
and
I
also
went
to
have
a
regular
doctor
visit
this
week
and
my
cholesterol
is
going
down.
That
means
I'm
gonna
be
a
little
while
eating
this
weekend
and
forget
about
the
diet.
A
So
I
hope
I
can
have
a
couple
of
good
meals
during
the
weekend
before
I
come
back
to
check
a
little
bit.
What
I
have
to
throw
in
my
stomach,
all
right,
chewy
you're,
just
just
getting
the
question
here-
is:
what
are
the
plans
for
the
weekend.
I
Hey
santi
hi
everyone
for
this
weekend.
I
don't
have
any
plans.
Actually
I
I
just
wanted
to
it's
probably
the
last
weekend
that
I'm
gonna
spend
in
my
hometown
before
moving
to
mexico
city,
so
probably
just
catch
up
with
friends
and
hang
out
something
like
that
get
to
enjoy
it
because,
hopefully
I'm
not
going
to
be
back
in
a
while.
A
All
right,
thank
you
all!
Okay,
can
anyone
share
the
the
document
for
the
terms,
so
we
can
just
go
over
it
and
and
really
did
you
did
you
have
a
chance?
Oh
first
of
all,
I'm
I'm
happy
to
see
your
your
face
looks
much
better.
Well,
I
didn't
get
to
see
it
yesterday,
but
from
your
words,
I
figured
out
that
you
were
knocked
out
from
the
kobe
chat.
So
I'm
happy
to
see
your
your
your
looking
good,
I'm
feeling
better.
C
I
did
I
did
I
made
some
changes.
I'll
have
to
go
into
the
document
to
see
exactly
what,
because
it
doesn't.
C
A
A
It's
on
the
agenda,
it's
updated
and
there's
the
links
are
there.
So
it's
the
terms.
The
proposal
terms.
C
Thanks
juan
yeah,
I
got
the
kovichot
yesterday
and
it
knocked
me
out
in
the
morning,
or
I
got
it
two
days
ago,
knocked
me
out
the
next
morning,
but
once
my
migraine
passed,
it
was
pretty
easy,
juan
carlos.
If
you
can
scroll
down
a
little.
C
C
C
D
C
C
All
right
there
we
go,
I
see
it
and
I
see
scrolling
so
we're
winning.
So
last
week
we
went
over
some
of
the
proposal
issues.
I
know
we're
still
kind
of
tentative
on
whether
or
not
we'll
be
staking
rap
dex
die
or
staking
tec,
and
if
people
want
to
make
a
dispute
under
celeste,
whether
or
not
they'll
they'll
be
doing
it
in
t
c
or
rough
x
die,
and
so
that
stuff
is
still
highlighted.
C
I
went
ahead
and
talked
a
little
more
here
about
off-chain
enforcement
and
the
use
of
the
discord
forum,
github
communities,
as
well
as
using
gravity
in
terms
of
the
third
bullet
point
there
I'll,
probably
need
to
highlight
it
and
and
add
a
few
more
things
that
are
consistent
with
what
we've
talked
about
some
proposals
that
we
think
would
be
inconsistent
with
community
values,
but
this
section
is
starting
to
get
pretty
pretty
filled
out
and
so
for
this
next
week.
C
But
relatively,
I
don't
think
it's
going
to
be
a
huge
problem.
It
should
be
pretty
smooth.
It's
been
very
helpful.
Looking
at
one
hive,
because
a
lot
of
the
stuff
is
discussed
there.
I
know
they're
changing
a
little
bit,
but
it's
been
very
helpful.
C
If
you
can
scroll
down
a
little
bit
more,
we
still
have
to
talk
about
fees
for
making
proposals,
which
we
think
there's
probably
going
to
be
a
fee
for
making
a
proposal,
and
I
may
want
to
discuss
in
that
section.
What
happens
when
someone
makes
a
dispute
and
whether
under
celeste,
the
funds
staked
end
up
going
to
the
person
that
wins?
That
dispute.
C
C
We
it's
one
of
the
first
things
I
drafted,
but
I
have
gone
back
and
and
unfortunately,
keep
adding
things,
but
part
of
the
issue
here
is
there
are
so
many
laws
and
regulations
about
various
types
of
platforms
right
like
if
you're
a
charity,
there
are
certain
rules
you
have
to
follow
if
you're
a
financial
institution
there's
so
many
rules,
if
you're
holding
people's
credit
card
information,
there's
so
many
rules
and
tc
really
does
none
of
those
things
which
is
good,
but
I
think
at
first
glance,
especially
when,
when
people
are
relatively
new.
C
To
I
don't
want
to
call
it
a
centralized
finance,
because
it's
not,
but
but
in
that
in
that
same
kind
of
mold,
I
think
you
kind
of
look
at
it
and
it
looks
like
a
lot
of
these
things.
A
tc
that
is
distributing
grants,
kind
of
looks
like
a
charity,
a
a
project
that
holds
money
and
distributes
it
based
on
what
the
community
wants
like
a
third-party
broker.
C
And
so
this
section
here
is
just
about
laying
out
that
pc
is
really
none
of
those
things.
No
one
is
making
purchases
with
their
credit
cards
on
the
tec
website
it
just
that
stuff
isn't
happening.
C
Obviously,
if
pec
either
ends
up
or
decides
in
the
future
to
have
you
know
a
decentralized
exchange,
maybe
that
gets
more
complicated,
but
even
then
you
know
you
tend
to
come
in
and
you're
not
you're,
not
purchasing
anything
really
with
credit
cards
or
debit
cards
or
any
kind
of
you
know
traditional
financial
tool
that
has
a
lot
of
rules
behind
it.
So
probably
still,
then,
wouldn't
be
that
big
of
a
deal
but
kind
of
still
going
through
here.
The
next
section
is
no
solicitation.
C
Basically
that
you
know
the
tec
is
not
not
out
there
arguing
for
anything,
partly
because
it's
just
a
doubt
right
I
mean
it's
just
a
collection
of
community
and
while
any
member
of
the
community
may
be
making
proposals,
nothing
is
kind
of
done.
On
behalf
of
the
tec,
unless
the
community
votes
on
it,
the
dow
via
the
community
is
the
entity
that
manages
funds
through
votes
again.
It's
just
look.
The
dow
makes
these
decisions
through
community
decisions
and
then
distributes
funds
on
chain.
C
It's
it's
just
kind
of
reasserting
to
people
that
this
isn't
this,
isn't
someone
you're
not
making
a
grant
bill
gates
and
saying
hey
bill
gates?
Had
this
really
cool
idea
on
how
to
distribute
malaria
vaccines,
you
know,
give
me
some
money,
so
I
can
put
into
practice
know.
C
Not
what
the
easy
does,
even
though
what
tec
does
may
look
kind
of
similar
to
that
like
there
could
be
a
project
that
does
that,
but
the
community
is
going
to
say
yes
or
no,
not
an
individual,
centralized
authority
is
going
to
do
that.
Taxes.
We've
talked
about
this
before
there's
just
basically
no
tax
advice
and
everyone's
gonna
have
to
kind
of
look
to
see
in
their
own
jurisdiction.
Whether
or
not
there
are
tax
implications
for
what
they're
doing.
C
I
may
want
to
put
out
put
out
there
that
you
know
even
people
that
contribute
to
the
community
that
hold
the
token
you're
going
to
have
to
look
to
see
if
there's
any
tax
consequences
of
that,
because
I
highly
doubt
it
could
be
considered
a
donation
or
a
charity
donation,
but
I
don't
want
to
give
the
impression
that
it
is
so
probably
to
tell
them
hey.
C
The
modification
we've
talked
about
this
and
then
data
retention.
I
need
to
add
to
that
section
that
obviously
the
elements
of
the
community
that
are
done
on
third-party
sites
like
discord,
github
gitbook,
the
forum,
all
those
things
could,
in
theory,
have
data
retention
policies
that
differ
from
what
tec
does,
but
we
don't
control
that
prohibited
conduct.
C
We
discussed
this
last
week.
I
added
two
and
you
know
just
talking
about
having
to
look
at
their
individual
jurisdictions
on
whether
or
not
what
they're
doing
is
prohibited.
C
I
always
have
in
mind
the
ethereum
guy
that
is
in
trouble
for
whatever
speech
he
gave
where
he
was,
or
at
least
as
far
as
the
government
is
concerned,
was
basically
suggesting
he
could
skirt
or
people
could
skirt
sanctions
on
north
korea
through
through
ethereum,
and
that's
a
really
really
bad
idea.
If
that
is
as
alleged
if
we
go
down
a
little
bit
more
in
disputes.
Clearly
I
have
a
couple
more
sections
here
and
then
maybe
release
warranties.
C
Those
will
be
gotten
too
disputes.
This
is
a
big
thanks
to
juan
carlos
for
really
making
this
stuff
clear.
C
But
here
we
talk
about
gravity
and
escalating
through
ultimately
celeste
and
that
you
know
gravity
is
obviously
kind
of
an
off-chain
situation,
whereas
celeste
is
an
on-chain
dispute
resolution,
I
included,
I
think,
all
the
necessary
links
either
because
juan
carlos
included
them
elsewhere
or
because
I
went
and
found
them
where
they
currently
are
in
the
get
book.
C
Although
looking
at
the
writing,
this
is
pretty
clear.
This
is
one
carlos's
writing,
because
this
is
a
really
good
description
of
gravity.
C
And
scroll
down
a
little
bit
further
payment
processor.
This
is
one
of
the
things
I
was
talking
about
before
so
this
is
this
is
not
our
stuff.
C
Yet
this
is
now
in
the
gofundme
stuff,
but
this
is
them
talking
about
a
lot
of
the
same
stuff
and
pointing
out
that
they're,
not
a
payment
processor,
and
that
they're
not
holding
funds
they're
a
payment
gateway
because
they
do
take
credit
cards,
so
that
gives
them
some
responsibility,
but
they're,
not
a
payment
processor,
so
they're
not
they're,
not
actually
settling
any
credit
card
transactions
with
any
banks
which
makes
them
a
processor
if
they
do
that,
a
payment
gateway
is
just
having
credit
card
information.
C
Tec
is
going
to
do
neither
so
our
section
on
that's
going
to
be
pretty
much
for
neither
of
those
things,
but
again,
just
one
of
those
things
where,
like
it's
ridiculous
to
say
all
the
things
you're,
not
in
an
attempt
to
describe
what
you
are,
but
it's
probably
best
to
kind
of
as
much
as
possible
say
they
were
not
these
traditional
things
that
have
all
these
rules
about
them.
It's
something
completely
different!
So
that's
where
we
are
this!
C
Next
week
you
know
it's
probably
going
to
be
on
the
recipient
and
the
distribution
of
funds
on
chain
after
proposal
passes
and
then,
after
those
sections,
I
think,
are
the
big
ones.
The
last
couple
of
things
to
fill
out
are
actually
pretty
straightforward
and
and
shouldn't
take
very
long,
so
we're
getting
close
to
kind
of
the
end
of
the
document.
C
A
Thank
you
sean
I
was.
I
was
thinking
when
you
were
mentioning
that
we
are
not
a
payment
processor
actually
through
the
fees
when,
if
we,
if
we
have
a
fee
for
proposal,
you
know
issuing,
how
would
you
consider.
C
That
so
I
don't
think
that
would
count
as
a
payment,
processor
and
and
the
reason
why
is
at
least
under
the
the
rules
that
I'm
familiar
with?
That's
about
taking
credit
card
information
or
debit
card
information.
It's
not
about
taking
any
money
at
all.
So
it's
it's!
You
know
in
the
event
that
the
tec
token
has
value,
I
don't
think
it
falls
under
either
a
payment
gateway
or
processor.
C
It's
not
a
gateway
because
we're
not
taking
credit
card
information
or
debit
card
information.
Nor
is
it
a
processor
because
we're
not
going
to
a
bank
and
settling
the
transaction.
So
we're
not
we're
not
a
third
party
kind
of
behind
the
scenes
of
a
website.
You
know,
I
don't
know
if
what
you
use
for
any
of
your
websites
asante.
But
you
know
squarespace
is
a
real
popular
one
in
the
us.
C
If
you
have
an
online
shop,
they'll
go
and
make
sure
those
transactions
actually
settle,
which
takes
a
surprisingly
long
time
like
those
we
get
charged
like
within
a
day
when
we
see
it
on
our
credit
cards,
but
that
money
actually
doesn't
change
hands
for
like
30
days.
It
takes
a
long
time.
Checks
take
a
long
time.
It
takes
like
two
weeks
to
you,
know
fully
actually
fund
and
clear,
but
tc
doesn't
none
of
that.
C
I
I'm
unaware
of
anyone
saying
a
coin
being
transacted
even
a
stable
point
makes
makes
you
a
payment,
gateway
or
processor,
because
it's
not
credit
card
or
debit
card
information
and.
C
I
think
that's
what
that
stuff
covers.
We
may
find
out
this
year
or
five
years
down
the
line
that
they're
gonna
count
stable
coins,
as
as
that
stuff,
I
don't
think
so,
but
yeah
I
mean
that
kind
of
regulatory
uncertainty
certainly
exists,
but
I
I
don't
to
the
best
of
my
knowledge.
I
don't
think
we're
in
any.
I
don't
even
think
we're
in
gray
areas.
I
think
this
one's
pretty
clear
that
we're
not
okay,
great
great.
A
C
Yeah,
I
hope
so
it's
we
talked
about
the
before
grip,
there's
just
so
much
confusion
on
what
is
allowed
and
I
think
it's
really
bad
when
the
only
way
to
get
regulatory
advice
is
through
like
regulatory
action
where
it'd
be
so
much
nicer.
If
we
were
just
getting
even
just
speeches,
saying
hey,
this
is
stuff,
we
think
is
okay,
there's
an
sec
commissioner
in
the
us
that
has
proposed
some
safe
harbors
for
a
lot
of
token
projects.
C
You
know
short
of
like
flagrantly
violating
the
law
you
would.
You
would
be
in
a
safe
harbor
as
far
as
the
law
is
concerned,
for
a
lot
of
projects,
and
that
would
be
really
neat
but
but
she's
generally
considered
really
pro
crypto
and
the
current
sec
commissioner,
that
just
got
approved
is
seen
as
favorable,
like
he
taught
courses
on
crypto
at
mit,
and
so
there's
there's
clearly
people
in
the
room.
Now
that
understand
it,
you
know
as
well
as
we
want
to.
C
I
don't
know
there's
so
many
different
like
at
least
in
the
u.s,
so
many
different
areas
of
government
that
are
involved
because
we
just
saw
treasury
say:
oh
we're,
probably
going
to
tax,
you
know
unrealized
gains
and
everyone
in
crypto
lost
it
because
imagine
having
to
pay
taxes
on
unrealized
and
even
after
you
sell
just
because
you
have
them
and
that'd
be
like
your
house,
went
up
in
value
and
you're
paying
capital
gains,
because
your
house
went
up
in
value
and
so
people
lost
the
last
couple
of
days
over
those
comments.
C
And
so
you
know
you
have
one
department
say
that
and
then
another
department
say:
hey
we're.
You
can't
ban
bitcoin
like
someone
asked
the
one
of
the
sec
commissioners.
Well,
you
know,
does
the
government
plan
to
even
consider
banning
crypto
and
the
response
was?
How
do
you
ban
something
peer-to-peer
which
was
such
like
a
smart
answer
and
one
we
don't
usually
hear
so
I
I
wish
we
had
so
much
more
clear
guidance
on
what
to
do.
We
just
don't,
and
so
we
just
do
the
best
we
can.
C
C
They
they
just
got
in
trouble
and
their
response
was
so
beautiful
because
they
basically
said
for,
like
three
years
they've
been
talking
to
the
sec
and
trying
to
get
guidance
like
begging
for
guidance
and
basically
got
told
nothing,
and
the
only
response
from
the
sec
was
we'll
tell
you
when
you
break
the
law,
but
we
won't
tell
you
if
you
might
be
breaking
the
law
and
that's
not
that's
not
helpful,
because
you
need
that
guidance
before
you
launch
a
project
not
not
after
you
launch,
because
most
people,
if
they
got
told
you
can't
do
x,
y
or
z,
would
probably
follow
the
rules
as
long
as
they're,
moderately,
fair
and
and
when
you
don't
get
that
you're
just
left
to
just
do
the
best
you
can
so
is.
C
Any
resolution
for
the
library
process:
no,
no,
I
think
I
think
they
just
got.
I
think
the
the
lawsuit
was
filed
or
the
sec
has
at
least
said
they're
going
to
file
a
lawsuit
against
it.
They
may
not
have
filed
it
yet
and
library
just
put
out
a
pr
response.
That
was
really
really
well
written,
like
probably
not
by
a
lawyer,
because
it
just
sounded
too
honest,
like
it
wasn't
hedging
bets.
It
wasn't
like
oh
we're
disappointed
in
this,
but
we
look
forward
to
our
day
in
court.
C
This
was
more
like
for
three
years
we've
been
trying
to
get
an
answer
from
the
government
and
we
can't
and
that's
ridiculous
and
now
they're
telling
us
we're
in
trouble
and
how
does
that?
How
does
that
feel
fair
or
just?
C
A
C
A
C
I
mean
it's
yeah,
it's
all
it's
almost
like.
They
wait
for
a
project
to
do
well
and
then
right.
You
know,
then
they
go
after
them,
and
so
they
just
you,
know
another
law
that
just
got
passed
in
the
u.s.
Well,
yes,
exactly
griff
was
extending
the
so
disgorgement
is
a
fancy
word.
It's
a
10
cent
word
for
the
sec
able
to
pull
money
back
from
ill-gotten
gain
right.
So
if
you're
you're
a
part
of
a
project,
it
doesn't
matter
if
it's
crypto
or
not
stocks
whatever
and
it's
illegal.
C
C
So
you
know
they're
giving
themselves
a
ton
of
time
to
build
a
case
and
at
the
same
time,
not
getting
anyone
in
the
community
a
chance
to
figure
out.
What's
legal
or
not.
G
Yeah,
but
you
know
what
I
mean.
What
I
think
about
this
is
a
bit
likely.
There's
there's
in
the
in
uncertainty.
There's
always
uncertainty
in
law
and
you'll
have
risks
then,
and
obviously,
if
you're
looking
like
what
you're
doing
is
closer
to
to
fraud
or
a
ponzi
scheme,
I
mean
I
think
the
world
is
watching,
what's
happening
with
dogecoin
and
when
that
collapses,
I
think
there's
going
to
be
massive
people
holding
the
bag,
questions
asks
and
regulations.
G
So
you
know
if
you're,
if
you're,
going
more
towards
socially
beneficial
and
and
and
closer
to
what
is
already
existing
regulatory
principles.
At
least
it
doesn't
have
to
be
too
much
the
processes,
but
I
think
the
principles
you're
you're
clear,
you're,
probably
on
the
safer,
less
risky
side
than
if
you're
looking
like
you're
just
doing
regulatory
arbitrage-
and
you
know
things
that
are
clearly
been
through
the
through
the
official
channels,
been
prohibited
and
actually
just
engaging
it
and
calling
it
something
else.
G
So
that's
probably
where
the
scrutiny
will
focus
because
they
have
limited
resources,
and
that
would
be
the
ones
that
would
make
the
most
sense
because
they're
they're,
the
least
socially
beneficial
and
most
obvious
targets.
For
you
know
all
these
weaknesses
in
the
regulation,
like
consumer
protection,
all
those
aspects
that
they
they're
trying
to
build
on.
So.
C
C
It
is
harder
to
go
against
projects
that
have
raised
a
billion
dollars
because
then
there's
a
lot
of
money
on
the
other
side
to
fight
those
cases,
and
so
sometimes
the
most
egregious
violators
are
the
ones
that
end
up
skating,
because
it
becomes
much
too
hard
of
a
case
to
take
on.
If
you
take
on
a
project
through,
let's
say
a
blatantly
improper
ico
that.
A
C
C
Wrist
for
like
eos
or
you
end
up
like
ethereum
and
just
basically
told
well,
we
think
you
were
a
security
when
you
were
issued,
but
now
you're
sufficiently
decentralized
that
we're
not
we're
not
going
to
pursue
anything,
and
I
I
cannot
believe
that
that's
done
for
any
other
reason.
C
Other
than
do
you
want
to
go
up
against
the
ethereum
foundation
that
has
so
much
money
that
if
you
lose
you're
going
to
set
a
precedent,
you
don't
want
to
happen,
so
you
might
aim
for
for
smaller
projects
that
are
still
going
to
be
newsworthy,
but
you're,
probably
gonna
win,
because
you
can
just
you
can
just
muscle
them
around,
and
I
think
you're
right
that
I
think
a
project.
C
That's
focused
on
social
goods
is
not
a
great
target
like
the
optics
of
it
are
not
as
great
right,
but
at
the
same
time,
when
you
don't
have
billions
of
dollars,
you
do
just
look
easier
to
target,
because
why
would
you
want
to
fight
a
ripple?
You
know
that's
gonna
take
five
years
before
they
get
a
decision.
C
If
there
even
is
one
there's,
probably
a
settlement
for
a
decent
amount
of
money,
but
if
you
want
a
decision
in
your
favor,
you're
gonna
go
after
someone
that
can't
afford
to
fight
and
then
they'll
just
they'll
plea
you
know
guilty
to
whatever
you
know:
criminal
sanction
there
is,
and-
and
you
get
your
precedent,
so
that's
that's
the
that's,
not
a
good
way
to
do
things.
In
my
opinion,
it'd
be
better.
C
But
when
there's
so
much
gray
area
it
doesn't
help
anyone
and
so
yeah
and
the
law
is
all
about,
like
you
know,
finding
that
one
case
that
is
a
little
different
and
pushing
that
boundary
just
a
little
bit,
but
this
area
it's
like
the
whole
area,
is
just
almost
completely
dark
and
it's
hard.
G
Did
you
take,
I
mean,
I
think,
what's
happening
in
europe,
though,
if
you
look
at
these
mika,
this
mica
right
proposal
for
this
regulation
and
crypto
assets,
it's
been
considered
by
the
council,
but
my
understanding
is
that's
moving
a
bit
forward
and
I
think
that
also
because
they
are
looking
to
create
a
framework
right,
they
want
the
good
stuff
to
grow
like
a
and
they
don't
want
to
kill
it
off.
I
mean
it's
like
how
the
early
internet
was
wild
and
then
light
touch.
G
Regulation
to
you
know
allow
proper
things
to
flourish,
so
I
think
we're
kind
of
entering
in
that
stage
and
good
regulation.
Might
I'm
curious
to
see
what
jurisdiction
comes
out
first.
I
think
there's
also
a
race
to
get
frameworks
in
place,
because
then
you
you'd
be
the
attractive
jurisdiction
for
a
lot
of
these
things.
G
So,
but
I
thought
that
mika
regulation
was
a
nice
balance
in
looking
at
the
consumer
protection
aspects
that
they
want
to
promote,
making
sure
you're
getting
at
least
some
due
diligence
and
then
yet
putting
it
with
an
already
existing
framework
with
a
bit
of
a
light
touch
as
an
initial
step.
But
it's
not
path.
A
G
A
That's
probably
one
of
the
issues,
it's
an
initial
step
because
innovation
is
going
so
fast.
They
probably
don't
they
don't
have
they
don't
cannot
keep
up
the
page
and
they
probably
don't
want
to
because
they
rather
let
the
industry
move
forward
and
then
they
jump
in
whenever
they
think
they
feel
comfortable.
They
can
jump
in.
That's
that's
my
personal
sense.
That's
the
way
they
are.
They
are
approaching
this
I
mean
I,
I.
C
Think,
if
you
were
to
ask
people
in
the
sec
investigators
attorneys,
you
know
is
bitcoin
a
private
thing.
I
don't.
I
don't
know
how
sophisticated
of
an
answer
you
get
from
anyone
and
that's
dangerous
when
the
people
that
are
enforcing
the
rules
don't
entirely
understand
the
thing
they
are
trying
to
regulate,
and
so
it
I
hope,
my
you're
right.
C
If
I'm
optimistic,
I
say
yes,
they're
gonna
want
the
good
things
to
flourish
and
they'll
try
to
go
after
the
bad
things,
and
that
would
be
awesome,
and
I
would
love
that
I'm
so
worried
that
they
don't
understand
the
tech
behind
it
that
they're
gonna
their
default
is
going
to
view
everything,
as
as
a
attempt
at
fraud
of
consumers
like
they're,
just
going
to
see
everything
that
way
whether
the
project
looks
like
it's
trying
to
be
helpful
and
do
good
or
projects
just
trying
to
blatantly
raise
money
for
a
rug,
pull
and
they're
not
going
to
tell
the
difference
between
those
two
things,
because
in
their
mind
it
took
money
from
consumers
and
that's
all
they're
going
to
care
about,
like
that's
where
their
focus
is
and
and
what
the
project
says.
C
It
was
trying
to
do.
May
that's
the
negative
side
of
my
view
of
it.
My
positive
side
is
you're
right,
they're,
going
to
look
at
good
projects
and
embrace
them
and
encourage
them
and
point
to
them
and
say
look
this
is
this
is
the
way
we
would
want
our
project
to
work.
This
is
how
a
governance
token
works.
This
is
how
a
utility
token
works.
This
is
this
is
how
a
security
token
works,
and
that
would
be
awesome.
C
But
literally
it
was
just
this
week
that
I
heard
someone
in
the
government
say:
how
do
you
ban
something
peer-to-peer,
and
this
thing
is
like
10
years
old,
12
years
old
and
that's
the
first
time
I've
heard
the
government
accurately
describe
bitcoin.
Otherwise,
it's
always
like
it's
just
some
internet
money,
blah
blah.
So
if
it's
taking
them
12
years
to
get
the
basics
of
that.
H
I
want
to
apologize
for
the
jump
on
my
internet
when
I
was
sharing
screen,
but
I'm
glad
that
you're
going
great,
and
I
want
to
tell
sean
that
if
that
takes
10
years
in
in
the
usa,
that
takes
then
like
15
years
or
20
years
to
in
latin
america
and
keep
that
in
mind.
And
here
people
is
like
our
government-
is
so
corrupt
that
yeah
I
I
am
also
I.
I
am
sometimes
a
little
bit
afraid
of
like
a
type
of
informant
enforcement
through
force.
C
Of
of
the
long
time
it's
going
to
take
the
regulatory
bodies
both
in
the
u.s
europe,
south
america,
africa,
asia
everywhere
is,
and
normally
they
don't
care
for
this
stuff.
But
the
people
that
work
in
government
regulating
it
will
then
leave
those
positions
to
go
work
in
the
industry
and
the
only
upside
of
that
is
that,
hopefully,
they
get
educated
on
how
these
projects
actually
work.
C
You're
going
to
get
people
that
understand
both
how
regulations
around
securities
or
consumer
protection
or
whatever
area
of
law
is
and
how
they
intersect
with
crypto
right
and
when
people
understand
both
they'll
be
able,
hopefully,
to
guide
the
industry
in
some
ways
and
in
some
respects,
they're,
not
always
the
most
ideal
allies
but
they're
necessary
out,
and
so
I
don't
usually
love
seeing
this
kind
of
revolving
door
between,
like
you
know,
someone's
gonna,
leave
the
government
and
go
work,
for
you
know
the
ethereum
foundation,
but
the
only
upside
of
that
is
that,
hopefully
it
it
starts
getting
everyone
closer
on
the
same
page
in
terms
of
best
practices,
because
that's
the
only
way
it's
going
to
happen,
because
otherwise
we're
just
shouting
across
the
room
at
each
other,
and
you
have
the
regulatory
people
going.
H
I
think
that
can
be
like
a
long-term
goal
of
of
this
legal
working
group
because,
like
the
tc
as
a
selling
point,
if
we
make
like
standards
legal
standards,
then
we
are
going
to
like
broadcast
that
to
the
whole
community
and
like
yeah
like
make
settlements
and
like
if
we
want
to
educate
that
and
and
make
that
like.
H
Advice
process
on
on
how
we
see
legal
things,
I
think
that
can
be
like
a
a
long-term
goal
for
this
group
like
to
to
make
statements
or
like
documents,
legal
documents,
advising
governments
or
or
advising
yeah
like
educating
for
for
for
the
best
implementation
and
adaptation
and
social
adaptation
of
all
these
changes
and
technology.
G
I
mean
on
that
I
said
sometimes
in
these
there's
some
just
interesting
research
being
done
by
the
law
society
of
england
and
wales.
That's
actually
driving
a
lot
of
the
thinking
around
making
even
legal
analogies
to
what
is
what
is
a
key
and
where
does
the
key
sit
versus
like
questions
on?
If
you
have
a
car
key
and
you
have
a
million
copies
of
your
car.
G
G
Influence
or
outside
influence
out
of
those
research
papers,
yeah.
C
I
mean
I
think
countries
are
starting
to
see
and
there's
a
there's,
a
back
and
forth.
You
can
almost
see
it
where
half
the
half
of
the
the
government
may
be
concerned
that
look.
We
don't
understand
this
technology,
we
don't
know
exactly
what
it
will
do.
It
seems
like
it
might
threaten
our
currency,
that's
bad
and-
and
you
have
that,
and
then
you
have
this
other
half
of
that
same
government.
C
That
seems
to
be
saying:
if
we're
not
leaders
in
this
area,
someone
else
will
be
and
we're
going
to
be
the
ones
kind
of
funny
to
say
this,
holding
the
bag
at
the
end
of
the
day,
if
we
don't
adopt
some
of
these
things,
whether
it's
you
know
all
these
countries
talking
about
digitizing
their
currency
is
at
least
a
first
step
right
now
we
can
imagine
all
the
problems
if
a
centralized
government
decides
to
digitize
their
currency,
but
but
at
least
ali
I
think
you're
right
I
mean
these.
C
These
debates
are
happening
and
it's
going
to
take
a
long
time.
F
C
D
Do
you
think
it's
possible?
I
don't
know
how
to
craft
this
question,
but
that
daos
could
somehow.
D
C
D
Like
for
the
city
like,
let's
say
you
can
be
a
citizen,
a
citizen
of
adele
and
and
since
you
have
a
currency
statutes
that
you're,
following
like
a
guide
of
principles
and
a
way
of
organizing.
C
Right
they'll-
probably
be
fine
with
it,
but
when
you
start
talking
about,
we
think
that
means
because
we're
members
of
this
dow,
we
think
we
don't
owe
taxes
in
the
places
we
live
because
we're
members
of
adele
not
the
place.
We
live
there
you're
going
to
get
pushed
back
like
there's,
just
no
way
a
government's
going
to
say:
oh
yeah,
that's
fine!
C
You
can
get
out
of
all
these
obligations
or
a
country
that
has
military
service
as
a
requirement,
and
you
say
well,
I
don't
have
to
serve
in
the
military,
even
though
I
live
in
this
country
with
mandatory
military
service,
because
I'm
actually
a
member
of
a
dao
and
ardao
actually
is
a
a
you
know,
non-opposition
to
violence.
Now
I
don't
think
that's
gonna
fly,
or
at
least
it's
not
likely
to
fly
some
some
other.
I
mean
that
was
a
really
good
question.
By
the
way
you
know
some
areas.
B
C
And
conceivably
a
country
could
do
that.
Right
I
mean
you
could
have
a
country,
that's
in
need
of
revenue.
That
says:
hey,
look
we're
willing
to
let
a
dow
operate
here
in
new
south
wales
right
in
exchange
for
the
dow
getting
taxed
like
they'll
have
to
be.
The
government
has
to
get
something
out
of
it,
so
you're
either
buying
the
land
or
you're
you're,
leasing
it
from
the
government
or
you're
paying
a
tax
every
year
or
whatever
the
case
is.
C
You
know
I
could
imagine
that
happening,
and
then
there
is
some
possibility
of
what
libby's
describing
happening
in
that
situation.
I
can't
imagine
they
would
say
you
can
do
whatever
you
want
to
do
with
no
risk.
I
imagine
there
would
still
be
probably
a
series
of
hey.
We
wouldn't
feel
really
comfortable.
If
you
did
xyz,
you
know
whether
that's
I
don't
think
they
would
allow
like
man
hunting.
You
know
we're
gonna,
sell
you
this
land
in
new
south
wales.
C
A
I
think
it's
it's
a
matter
of
time,
because
I
recall
when
I
was
younger.
It
was
mandatory
military
military
service
here
in
spain,
and
some
people
started
opposing
and
they
were
they
would
they
would
be
prosecuted
and
then
more
people
started
opposing
and
more
people
started
opposing,
and
then
they
decided
to
those
that
didn't
want
to
go
through
military
service.
They
could
do
social
service
a
longer
period,
but
they
could
do
social
service
and
then
more
people
was
opposing
and
they
finally
got
rid
of
it.
A
You
know,
and
now
it's
professional
there's
a
few
guys
that
want
to
go
there.
They
get
paid
and
and
the
rest
of
the
people
doesn't
have
to
go
through
it.
When
society
opposition
is
big
enough.
Things
change
and-
and
I
think
that
we
are
just
witnessing
the
start
of
this
whole
change.
That's
gonna
start
pushing
forward
big
social
changes,
because
this
is
unstoppable.
It's
much
much
much
much
better
than
what
we
have
today
in
many.
C
Senses
yeah,
I
agree
and,
and
certainly
the
question
of
both
time
frame
and
what's
being
changed
right,
challenging
one
policy
as
a
government
has
is
one
thing
and
challenging
the
right
of
the
state
to
exist.
Itself
is
quite
another
like
that's
a
much
bigger
deal
and
because
that's
a
much
bigger
deal
you're
going
to
get
much
bigger
pushback.
C
But
if
you
challenge
one
policy
yeah
I
mean
the
amount
of
support
you
need
behind.
That
is
much
much.
It's
almost
like
conviction
voting
right
it's
if
the
issue
itself
is
not
hugely
important.
You
had
20
support.
You
probably
got
you
know
way
more
than
you
need
to
get
what
you
want
done,
but
the
bigger
thing
you're
trying
to
change.
If
you're
saying
hey,
look,
I
imagine
a
world
where
there
is
no
government
at
all
you're
going
to
get
much
more
pushback
from
the
government
and
it
could
happen.
C
G
That's
I
was
thinking
also,
I
mean
government
is
effectively
an
analog,
an
analog
dowel,
especially
in
democracies.
You
have
a
treasury
and
you
have
a
mechanism
upon
which
decisions
are
made
just
through
representation,
and-
and
this
is
this-
is
opening
up
possibilities
to
improve
upon
that
in
a
digital
format.
G
But
I
think
on
the
aspect-
and
you
see
what's
happening
wyoming
I
mean
they're
going
to
be
integrating
into
to
give
it
that
legal
structure,
so
they
can
benefit
from
all
of
the
already
existing
infrastructure
that
exists
and
the
protections
that
come
with
that.
But
olivia's
point
I
was
thinking
about.
I
read
this
paper
once
it's
on
the
digital
kabut
theme,
and,
and
so
there
I
mean
the
puts
in
israel
they're
quite
autonomous,
so
they
have,
they
have
already
a
certain
legal.
I
mean
autonomy
in
the
law
so
right.
G
This
is
still
within
the
system,
but
they're
given
quite
a
amount
of
freedom,
and
it
was
thinking
around
what
a
what
a
dow
like
ecosystem
inside
this
already
autonomous.
So
I
think,
when
you're
looking
at
already,
where
are
more
autonomous
zones,
that
then
might
incorporate
this
as
a
structure
like
sort
of
a
future-oriented
structure
upon
which
they
can
then
improve
what
they're
already
building
on.
So
that
that's
something
I
thought
was
kind
of
interesting
and
they
had
proposed.
C
C
Think
that's
a
great
point
and
I
think
griffs
actually
said
this
before,
though
I
don't
know
if
you
could
about
the
dow
specifically,
but
it's
less
of
a
revolution
and
more
of
an
evolution,
because
there
are
so
many
analogs
to
what
I
think
dows
are
where
you
have
some
amount
of
autonomy
to
kind
of
act
and
a
kibbutz
is
a
great
example,
and
I
think
you
can
imagine
quite
a
few
where,
like
you,
you
have
a
lot
of
autonomy
to
act
in
these
small
groups
and
what
a
dow
does
is
just
makes
that
possibility,
expand
so
much
further
right.
C
I
mean
how
many
different
countries
are
on
this
hall
right
now.
You
know
talking
about
that.
That
just
isn't
usually
the
way
it
works,
whereas
a
co-op
right
is
kind
of
like
a
dow
in
america
where,
like
they
may
own,
a
supermarket
and
as
long
as
you
put
in
x
number
of
hours
at
the
supermarket
you're
allowed
to
buy,
produce
at
a
lower
price
right
and
so
they're,
not
breaking
any
of
the
state's
rules.
You
know
they're
acting
within
sort
of
just
essential
rules.
C
They
themselves
have
agreed
to
adhere
to,
but
they're
doing
something
much
different
than
what
people
do
on
a
day-to-day
basis.
There's
co-op
housing,
I
live
by
ucla,
there's
co-op
housing,
so
in
exchange
for
cheaper
housing,
you
put
in
x
number
of
hours
of
work
at
the
co-op,
and
so
now
you
have
skin
in
the
game
for
the
area
you
live
in
and
you're
taking
care
of.
C
And,
conversely,
you
get
a
deal
on
how
much
you
pay
in
rent,
because
now
the
school
doesn't
have
to
pay
for
janitorial
services
or
landscaping
or
whatever
the
case
is
so
yeah.
There's
there's
a
lot
of
examples
of
of
things
that
look
doubt-ish
and
and
when
these,
when
these
things
start
getting
litigated
more
seriously,
the
the
most
successful
dowels
are
going
to
be
the
one
that
can
articulate
the
regulators,
hopefully
not
quartz,
just
regulators
that
what
they're
doing
doesn't
look
as
strange
or
as
odd
or
as
foreign
as
maybe
at
first
glance.
C
It
does
because
that's
what
I
think
worries
states
and
regulators
is
when
they
don't
understand,
what's
happening
because
their
their
first
initial
reaction
is
always,
and
it
must
be
problematic.
C
It
must
be
bad
and
the
the
communicators,
the
ones
that
communicate,
that
that
in
any
functioning
dow,
is
actually
pretty
similar
to
how
a
lot
of
stuff
works.
C
You
know
hopefully
they're
the
ones
like
you
mentioned
earlier-
they're,
the
ones
that
that
governments
will
look
at
and
go
no
they're
trying
their
best
to
do
it
right.
Maybe
they
need
to
change
a
couple
of
things,
but
we're
not
going
to
you
know,
throw
them
all
away
and
throw
away
the
key.
So
hey
juan.
H
I
think
that
a
good
thing
about
dao's
is
that
their
members
are
dispersed,
and
I
am
not
so
prone
to
like
having
like
as
a
land
ruled
by
by
a
dao,
because
I
feel
like
that.
Maybe
like
would
make
easier
to
make
an
enemy
image
of
of
a
dao
like
pointing
like
like
pointing
at
us
and
like
yeah,
looking
at
us,
maybe
as
as
yeah
as
as
as
yeah
as
an
enemy.
H
And
it
would
be
like
easier
if
someone
want
to
make
an
attack
or
something
like.
But
I
think
that
what
makes
this
evolution
inevitable
is
that
it's
coming
from
everywhere
in
the
world
and
it's
not
like,
because
maybe
we
can
create
a
a
small
paradise
like
having
a
land
within
a
dao.
But
that
would
be
also
like
excluded
to
the
reality
of
the
world.
And
I
think
that
what
what
is
really
great
from
from
the
dao
ecosystem
is
like.
It's
not
just
some
idea
coming
from
some
countries.
H
But
it's
like
something
that
is
coming
from
the
roots
of
of
the
whole
world
and
that
that's
what
make
it
more
difficult.
If
someone
would
want
to
attack
us,
because.
C
Yeah
the
point
one
carlos,
like
it
puts
a
target
on
your
back
in
a
way
you
know,
but
I
I
think
that's
one
of
the
neat
things
about
dallas
is
like
there's,
probably
a
dow
that
fits
everyone
right
like
there's
gonna
be
some
people
who
are
like.
I
would
love
to
live
in
a
dow
community
that
you
know,
there's
actually
there's
a
book.
I
gotta
find
a
title.
C
The
city
in
new
hampshire
had
a
bunch
of
libertarians
from
there
and
they
basically
got
rid
of
like
every
government
service.
I
mean
just
everything
they
got
rid
of
the
trash
company.
They
got
rid
of
everything,
just
zoning
laws,
everything
and
people
were
just
allowed
to
basically
almost
do
just
about
what
they
wanted
and
the
town
went
to
hell
like
it
went
bad.
It
just
didn't
work
that
well,
but
those
things
can
happen,
but
there's
there's
probably
a
group
of
people
who
would
love
that
idea
like
let's
try
try
it
again.
C
You
know
the
first
time
it
didn't
work.
Okay,
we'll
try
again
and
then
some
people
like
you
want
carlos
that
don't
want
to
move
to
an
area
and
have
a
target
on
your
back
and
and
live
amongst
that
and
you
you
like
the
idea
of
the
dow
the
way
it
exists
on
in
this
group,
and
I
think,
there's
there'll
be
room
for
both
those
things
to
exist.