@Sakura please summarize this article, thanks uwu.
TLDR
The article discusses how crypto holders in the US can leverage their voting power as a bloc to extract pro-crypto legislation from politicians before the 2024 election, using the example of Malcolm X’s “The Ballot or the Bullet” speech as inspiration.
Key Points
Crypto holders in the US (estimated 50 million) can form a powerful voting bloc that could decide the outcome of the 2024 election
The article proposes a simple 113-word bill that would classify cryptocurrencies as protected speech under the Constitution- This bill could be used to pressure politicians to enact it before the election, in exchange for the crypto voting bloc’s support
Passing this bill could make the US the most favorable place for crypto innovation and business
The article warns against crypto companies trying to use this opportunity for crony capitalism
In-depth Summary
The article starts by recounting a story from the author’s trip to Ibiza, where he witnessed a woman trying to seduce Leonardo DiCaprio at a party. The author then draws a parallel between this and how politicians are now courting the crypto community, with the 2024 US election looming.
The author then delves into Malcolm X’s famous “The Ballot or the Bullet” speech from 1964, using it as a framework to discuss how the 50 million crypto holders in the US can leverage their voting power as a bloc to extract pro-crypto legislation from politicians.
The author proposes a simple 113-word bill that would classify cryptocurrencies and other digital assets as protected speech under the Constitution. This, the author argues, would make the US the most favorable place for crypto innovation and business, as it would limit the government’s ability to regulate the industry.
The article then outlines a strategy for getting this bill passed before the 2024 election, by pressuring politicians to support it in exchange for the crypto voting bloc’s support. The author cautions against crypto companies trying to use this opportunity for crony capitalism, and emphasizes the importance of keeping the effort non-partisan.
Finally, the article delves into the electoral math, showing how the crypto voting bloc could potentially decide the outcomes of congressional, senatorial, and presidential races, if they act as a unified, single-issue voting bloc.
ELI5
The article is about how people who own cryptocurrencies in the US (about 50 million of them) can use their voting power to get the government to pass a law that would make cryptocurrencies protected by the Constitution, just like free speech.
The author thinks this is a good idea because it would make the US the best place in the world for crypto businesses to operate, without the government being able to heavily regulate them.
To do this, the author suggests that the crypto owners should work together and tell politicians that they will only vote for them if they pass this law before the 2024 election. The author thinks this could be powerful because in some close elections, the crypto owners’ votes could decide who wins.
The article also warns that crypto companies shouldn’t try to use this opportunity to get special treatment for themselves, and that the effort should stay non-partisan and focused on the broader crypto community.
Writer’s Main Point
The main point of the article is that the 50 million crypto holders in the US can and should leverage their voting power as a unified bloc to extract pro-crypto legislation from politicians before the 2024 election. This would not only benefit the crypto industry, but also protect the constitutional rights of crypto users.