Crypto’s Historical Moment

Hey all! Every fortnight at ARCx we have a segment called “The Dining Table” which covers updates about what’s going at ARCx but also a story about the broader market. This is the next installment and you can watch it below or read along at your own convenience 🙂 I would love to hear your thoughs in the comments or over in the ARCx Discord server!

Watch the forth episode of Narrative Alpha on YouTube!

Kerman: The topic I wanna talk about this week was around Tornado Cash and how it basically got KO’d, not fully, but kind of sanctioned officially. And it’s a really kind of big historical mode for crypto.

When you go to the US department of the treasury and they have a bunch of Ethereum addresses, you’re like, wow, that’s kind of like an insane future you wouldn’t have really thought of a few years ago, but it’s kind of happening now. I kinda thought like, there’s this event, that there’s actually so many implications of this that I guess everyone is kind of discussing the space and we’re all trying to wrap our head around. So I thought I’d… Kind of we’ll go through some of them to provide some additional kind of context and where my head’s at with regards to this single event.

First is that, the cracks are starting to show between regulated DeFi, ReFi, regulated… Re-DeFi, I don’t know. First it starts with geo-blocking and then on chain and now its contracts. The whole bit of people saying, why does decentralization matter? It’s starting to become more and more obvious as time goes on, because we’re starting to see more action being taken. And especially for newer market entrance who haven’t really seen much, seen any of these activities, it’s kind of like a wake up call of like, ah, just because something hasn’t happened yet, that doesn’t mean it won’t happen. It’s really easy to kind of get stuck in that kind of thought process. It’s… Yeah, fascinating to see these factions starting to become more and more clear. And I guess before I carry on, does anyone wanna add anything to this point or? 

Kale: Yeah. Just, like it’s super interesting. It’s almost anti-crypto, the regulation thing. It’s natural, it’s natural in the sense that people want adoption, the community wants adoption. They want it to be mainstream, purely to kind of dump their bags, but it kind of goes against the whole premise, right? It goes against everything we’re trying to achieve. The whole idea of absolute truth. Is there an absolute truth as to what is right or wrong? The moment you make that distinction, you’re like, you are wrong, things that were once right, are now really, really wrong. [laughter] It’s hard knowing that what you are doing today is the correct thing. I don’t know, it’s interesting. It’s really just a reaction to the community wanting to dump their bags and people being more concerned about the profit motive than the actual common good motive.

Kerman: Yeah. It’s definitely kind of becoming more… What’s the word. Stark, the divide between the…