YouSaid · the spoken record

Jason Brett

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63
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2022-04-13
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2022-04-13
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  1. “Yeah, so that was, and that had to do with the sanctions It was literally as we got to that weekend, we had. Both FinCEN that made it very clear about how banks and cryptocurrency firms need to be very aware if they hold a money service business license need to enforce sanctions against Russia. And the OFAC made it clear it was already kind of listed that way, but they just reinforced. People had questions. They said, if you're using virtual currency, that's also a way. of breaking sanctions. So you have to make sure. And this goes all the way back to Venezuela, by the way, in 2018 with Donald Trump when he was president. We had sanctions against, if you remember, the Petro currency backed by oil, didn't really go anywhere. But in principle, because I remember talking about that, that means like if you had a petro on your hand on your phone, you try to spend that or use that.”

    2022-04-13 · We Study Billionaires · BTC073: Bitcoin Policy Considerations w/ Jason Brett (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT

  2. “Ethereum's rough, the other ones are rough, but like Ripple really strikes right at the heart of what Bitcoin's about. It's unfortunate”

    2022-04-13 · We Study Billionaires · BTC073: Bitcoin Policy Considerations w/ Jason Brett (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT

  3. “So it wouldn't surprise me. And this is public. This is not like me calling out Chris Larson. It's right there with consistent claims. I can't think of any other blockchain protocol Preston. It's really kind of sad that has taken such aim at Bitcoin the way Ripple has. And when you look at what they did at the SCC2 during this whole fight where they keep turning it back to like comparing themselves to Bitcoin, it's really, it's unfortunate.”

    2022-04-13 · We Study Billionaires · BTC073: Bitcoin Policy Considerations w/ Jason Brett (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT

  4. “But what concerns me, and again, there's this request for information that anybody in the public can respond to to this White House office. It's part of the executive order, which is a question about, is it really going to have climate impacts? It wants evidence. It does give us an opening because it does say if you have any evidence to show that Bitcoin actually helps the environment. They want information that's both going to refute and support that claim. Look, I'm not answering your question straight. I'm sure it was Chris Larson. I've seen Chris write articles in The Hill that have taken point-blank aim at Bitcoin, have talked about, and I'm talking about like op-ed articles that really only congressmen read that talk about how when China was the dominant miners, they could just change the Bitcoin ledger anytime they wanted to.”

    2022-04-13 · We Study Billionaires · BTC073: Bitcoin Policy Considerations w/ Jason Brett (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT

  5. “Yeah, it could be, because I think when you look at the executive order and then a little bit after. The White House Office of Science, Technology Policy, OSTP, that's asking very specific questions that I feel like somebody who maybe didn't like Bitcoin would want to ask because one of the areas that it's focusing on is do we need to just move on to other consensus mechanisms? Like we need to sort of proof of work is old, so let's put it off to the side and now we need to look at different ways of consensus mechanisms, which is like We're already in like the fifth or sixth inning in that thinking when we're still, we got to go all the way back to the first of which one is really providing the security that we need.”

    2022-04-13 · We Study Billionaires · BTC073: Bitcoin Policy Considerations w/ Jason Brett (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT

  6. “One of which is the most concerning thing I have and why I'm so grateful to have the opportunity to talk to you about it today, Preston, is the issues that they're focusing on regarding the potentials for climate change as a result of using proof of work systems. And the attention that they're paying to that angle.”

    2022-04-13 · We Study Billionaires · BTC073: Bitcoin Policy Considerations w/ Jason Brett (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT

  7. “Then you had this idea of sanctions as soon as the Ukraine Russia conflict started. And at that point, you'll notice that's very soon after that started is when the White House order was issued. And that because not only do you have the ransomware issues from Russia, but in their mind, I think you now saw the sanctions. And just a few days after the White House executive order, OFAC, Office of Foreign Assets Control put out that virtual currency, digital currency is the same as Fiat currency regarding sanctions. There's all the debates about the exchanges and what kind of roles they needed to play. There was calls from the Ukraine about doing sanctions against Russian cryptocurrencies. So at that point, I think you're seeing it where the national security lens has caught the most focus. But there's been others that have been leading up to it.”

    2022-04-13 · We Study Billionaires · BTC073: Bitcoin Policy Considerations w/ Jason Brett (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT

  8. “And because Bitcoin is extorted from a ransomware situation, the White House felt it was a threat to national security. And what's been a little hard to track is first, the White House was saying it's all coming from China. And then all of a sudden, when Russia was ready to invade Ukraine, they're like, well, all this stuff's coming from Russia. So it was sort of like where is it coming from, you know? And so, but if, in fact, the new sort of method of warfare is through these ransomware, the attack on colonial pipeline, at least the way our country is structured, that's like national security's job to try to address. Now, how they address it is a whole different thing. I mean, I know, I don't have to tell you, like after 9-11, there can be overreactions and things like that. And I think generally the narrative of somehow that it was like Bitcoin's fault was problematic. So you sort of had the.”

    2022-04-13 · We Study Billionaires · BTC073: Bitcoin Policy Considerations w/ Jason Brett (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT

  9. “So there was a few things that were leading up to Biden deciding to release some information about the executive order. And I think a lot of it had to do with what really sparked it was back in October, the US met with 30 other countries. And the main topic for the summit was all about ransomware. So if you think about it, ransomware happens for a lot of reasons. And we all know a lot of it is not strong cybersecurity and there's lots of elements to what takes place in a ransomware. But I think one thing to maybe acknowledge is it is a new kind of crime because usually they're extorting Bitcoin.”

    2022-04-13 · We Study Billionaires · BTC073: Bitcoin Policy Considerations w/ Jason Brett (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT

  10. “According to the Wall Street Journal, they said there was 25,000 people that came through, which is twice the number from last year.”

    2022-04-13 · We Study Billionaires · BTC073: Bitcoin Policy Considerations w/ Jason Brett (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT

  11. “And it's no surprise that we have a senator from Wyoming, and how lucky are we to have that who's helping a shepherd through whatever regulation we might look at. So I was really encouraged. It was really big. I mean, there were a lot of people there. I don't know about you, but it was like a lot of people. It was like, wow, we're really arrived. I mean, for me, having the bull there from the mayor, you know, that's.”

    2022-04-13 · We Study Billionaires · BTC073: Bitcoin Policy Considerations w/ Jason Brett (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT

  12. “Pushback against Wall Street and the recognition that it's actually okay to like Bitcoin and to push back about what big money interests thinks of it. And then the Senator Lamm's speech, which I thought was really, really inspiring, you know, she's one of the co-sponsors of this legislation we're all hearing is coming any day soon. It would be the first major bipartisan legislation in the Senate. I caught up with some of her staffers at the conference and you know they reminded me like Wyoming was the first place that really started setting out regulations for this.”

    2022-04-13 · We Study Billionaires · BTC073: Bitcoin Policy Considerations w/ Jason Brett (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT

  13. “Yeah, so it was great to hear, I think, people's takes in regards to understanding the implications about the Federal Reserve and what it means with inflation and how more and more like for me the tipping point was like the Peter Thiel speech when you had this sort of notion of”

    2022-04-13 · We Study Billionaires · BTC073: Bitcoin Policy Considerations w/ Jason Brett (Bitcoin Podcast) · IDENTIFIED FROM THE TRANSCRIPT