@Sakura please summarize this article, thanks uwu.
TLDR
The article argues that a Kamala Harris presidency could be beneficial for the crypto industry, as it may lead to a more permissive regulatory environment and spur innovation.
Key Points
The author believes Donald Trump will win the 2024 US presidential election, but acknowledges that a historian has predicted a Kamala Harris victory.
A Harris presidency could lead to increased government spending, KYC/AML requirements, and the growth of privacy-focused and censorship-resistant crypto tools.
This could re-invigorate the crypto industry’s mission to separate money and state, leading to the development of killer apps.
In-depth Summary
The article starts by the author expressing confidence that Donald Trump will win the 2024 US presidential election. However, the author acknowledges a tweet from a historian who has correctly predicted 9 out of the last 10 US presidential elections, stating that Kamala Harris will defeat Trump.
The author then explores the potential implications of a Harris presidency for the crypto industry. They argue that under a Harris administration, there would likely be increased government spending and KYC/AML requirements for crypto, as the government seeks to export US Treasuries via stablecoins globally.
However, the author also suggests that a Harris presidency could spur the development of censorship-resistant and privacy-focused crypto tools, as the industry would need to adapt to a more restrictive regulatory environment. This, the author believes, could re-invigorate the crypto industry’s mission to separate money and state, leading to the creation of “killer apps”.
The author concludes by stating that while a Harris presidency may not be what crypto natives want, it could ultimately be what the industry needs to drive innovation and progress.
ELI5
The article talks about how a Kamala Harris presidency could be good for the crypto industry, even though it might not seem that way at first. The author thinks that with Harris as president, the government might try to control crypto more, like making it harder to use without following a lot of rules. But this could also make crypto companies work harder to create new and better ways to use crypto that are private and can’t be controlled by the government. So in the end, a Harris presidency could actually help the crypto industry grow and become stronger.
Writer’s Main Point
The main point of the article is that a Kamala Harris presidency, while not ideal for the crypto industry at first glance, could ultimately be beneficial in the long run. By forcing the industry to adapt to a more restrictive regulatory environment, it could spur the development of innovative, censorship-resistant and privacy-focused crypto tools and applications.