All,
This is a personal level post for me on NOSTR. I am motivated to post this based on just listening to my favorite podcast this year, it helps the Bitcoin SPOT ETF development is my favorite subject so far in 2023. This post dedicated to Joe Carlasare's efforts and expert communication skills.
In this post, I am using a fake scenario that I report to Gary Gensler at the SEC.
The incredible Stephan Livera podcast that went live yesterday.
SLP495 JOE CARLASARE – BITCOIN ETF? LAWSUITS AND BITCOIN
Stephan Livera
SLP495 Joe Carlasare – Bitcoin ETF? Lawsuits and Bitcoin
Wondering what happens with the Bitcoin Spot ETF? Joe Carlasare joins us to explain why it’s not so likely soon, as well as share his thought...
People crave to belong, it is hard to go against the mantra, the mainstream, the status quo, it is uncomfortable outside personal comfort zones. This is especially true in the Bitcoin Maxi inner circle.
I love to write on Bitcoin. It used to only be about cancer, I am successful on the latter as I am a National Level Patient Advocate. I am a hack with Bitcoin/Economics. I haven’t earned my badge, it may take years. I love how with Bitcoin, this is anonymous, not to hide but Bitcoin is the coolest thing that is way bigger and transcends all of us, including anonymous Satoshi.
In the past, like with cancer, I have carefully put together posts, using transcripts/PubMed/Journals or typing verbatim what I was hearing. It isn’t easy.
I haven’t connected with Bitcoiners online, or offline, and maybe never will. In my large circle, my 75 year old cabin neighbor friend from Wisconsin is the only one as I explained to Matt McCall/Stansberry Research
https://twitter.com/Bitcoinapolis55/status/1679832175384883201
For today, thanks to inspiration from Lyn Alden in being my true self, here I am. Keep in mind, decades in Corporate America, challenging my bosses, promoted only twice, no traction. Similar time in the volunteer cancer arena, same approach. Traction. Bitcoin world? No clue and validation is not needed and it is not my motivation.
Scenario for this post:
I (BR) work at the SEC, Gary Gensler is my boss. It’s time for our weekly, dreaded on both sides, 1on1.
BR: “Hey Boss, super excited to talk to you today.”
Gary: (not looking up, acting busy, writing down something.) “Have a seat, BR. As you know, I have an ‘open door’ policy and this is your time to talk to me about anything you want, concerns, what is going right etc.”
BR: I have heard that a bunch of times, not sure it is sincere? I want to talk to you about Bitcoin and the BlackRock ETF. But I want to do this ‘off the record, gloves off, human to human.’”
(Gary finally looks up in dismay, adjusts his glasses, sighs. I am his least favorite employee.)
Gary: “Off the record, like every one of our 1on1s? You are a piece of work. Okay, we have 23 minutes as I have to circle back and dialogue and get to done. ”
BR: “What are you thinking about BlackRock and the Spot ETF? But first, may I tell you how I am thinking? I always look at people’s motivation. What is yours? Are you looking to be the next Janet Yellen and are managing up to your bosses only? Or is it about your legacy? You know, you are a smart guy, you know Bitcoin is great, you literally taught a course on it at MIT? However, you were right in line with MIT wonder boy SBF? To me, do you have to go to weekly sessions to keep getting the crusted on egg on your face scraped off as you carry around that gallon water bottle to keep washing down the feathers of the crow you can’t stop eating?
Gary: “Stop the personal attacks…but that is impossible for you…”
BR: “Noted but tell me the truth. This is my time. What is going on with the ARK.BlackRock SPOT ETFs? The SEC is currently in court over Grayscale’s future Bitcoin ETF you rejected. What makes these SPOT ETFs any different? You already pushed back on the original applications saying they needed a ‘surveillance sharing partner’ and some came back with Coinbase. You hate Coinbase and there are SEC lawsuits/allegations against them..emotions still high after FTX? Further, most liquidity of Bitcoin is outside the United States. How could you approve a Bitcoin Spot ETF if you think Bitcoin sucks and the enlisted actors are bad apples as you have yet to officially deem Bitcoin a commodity or a security based on your old school Howey Test?”
Gary: “You are out of line…”
BR: “You are sideways on the line, blocking progress, refusing to take a stand. Look, I have worked in jobs where ‘time solves all problems’ wait long enough and the problem dies, or wait long enough and bosses like you move on, inaction can be a wonderful thing for the incompetent. Let’s say you did approve the ARK/BlackRock spot BTC ETFs? (you have to approve them all.) Is that more work for your team with ‘limited resources’ and more headaches?”
Gary: “Are you willing to put in overtime and work weekends?”
BR: “No, I spent decades doing that but never was rewarded. Are you willing to explain this? You know Bitcoin is the ultimate square peg in the round hole and people are saying, BlackRock has an 575-1 approval record when filing with the SEC. You, however, know Bitcoin is different, it has very little adoption, about 1%. Is it easier to piss off the 1% and appease the 99% or is best to do what is right? What’s it going to be boss? Is this where you say you are ‘transparent?’”
Gary: “We are done here…if you weren’t such a great coder we would have fired you long ago.”
BR: “Thanks a lot Boss even though I have 13 minutes left (big shit ass grin, finger guns pointing at him) be sure to read this one page from Saifedean’s ‘The Bitcoin Standard’ and I will ask if you understand it to your core like I do. See you next week unless you reward me for my bad behavior and cancel my 1on1s which is my motivation. There it is.”
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I truly hope ARK/Cathie Wood have their Bitcoin SPOT ETF approved first and I know:
“Honeybadger(/Bitcoin) don’t care”
“Number go up”
Bitcoin Fortune Cookie sayings are plentiful and these elicit the most claps in the audience.
