Posts about Bitcoin
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Five years ago, Gary Gensler was a professor of the Practice of Global Economics and Management at MIT. He taught courses on blockchain technology. These are still available online. See https://www.youtube.com/playlist?list=PLUl4u3cNGP63UUkfL0onkxF6MYgVa04Fn
In his lectures, Gary Gensler often spoke very fondly of blockchain technology, Bitcoin, and Satoshi Nakamoto.
He even told his students about Pizza day in his lecture on September 5, 2018. Pizza day is celebrated today and refers to May 22, 2010, when Laszlo had two pizzas delivered for which he paid 10K Bitcoins. This is a slide from Gensler's presentation:
https://i.redd.it/kpwwf9jy7f1b1.pngSee https://youtu.be/v2yoPmhncSY?t=340. Gary had a huge smile on his face as he proudly told his students the Pizza story.
https://i.redd.it/anzbqn8s8f1b1.pngA few years later, Gary Gensler was nominated by Joe Biden to serve as Chair of the SEC February 2021. He was sworn into office on April 17, 2021. Most people were so positive given his blockchain expertise. The top replies on the lecture, which was posted in March 2021, illustrate the positive vibe:
https://i.redd.it/4n7sc6ve9f1b1.pnghttps://i.redd.it/j8mbo1xg9f1b1.pngReplies to posts around that time here show the same:
https://i.redd.it/9q9checu9f1b1.pnghttps://i.redd.it/dbtlut03af1b1.pngFast-forward two years and Gary Gensler has basically become one of the biggest crypto villains. He has failed to provide any clarity of the rules - he cannot even answer the question of whether Ethereum is a security. He has also seemingly at random sued various cryptocurrency projects and exchanges. He has also failed to protect investors from harm. It's like he is slowing the growth of crypto on purpose.
https://i.redd.it/asyugu84cf1b1.pngHow is it possible that Gary Gensler went from a blockchain technology enthusiast who likely got many people to buy Bitcoin through his courses to the person he is today?