Additionally, I've been refining my framework for digital asset categorization recently. Too many people and especially politicians who do not understand the actionable differences between Bitcoin and crypto. This is what it looks like now. I call it "The Robux Thought Experiment"

Roblox is a popular online video game. It has its own video game money known as robux. In this section, I would like to demonstrate several control and capture points of various cryptocurrencies. Up until this point, lawmakers have been under the impression that all cryptocurrencies are like Bitcoin and because Bitcoin's capture points require so much money, manpower, and juristictional effort, that other cryptocurrencies would be the same. This is not the case as I will demonstrate with this thought experiment. I write this to you now knowing that these capture points can be utilized for more effective legislation.

Digital Asset category 0: Robux is an account system hosted by the Roblox corperation, whose transaction authority is the Roblox corperation, whose issuing authority is the Roblox corperation, whose transaction history can only be seen by the Roblox corperation, whose software update authority (this determines what robux "is") is the Roblox corperation. Its database type, is an SQL database backend. While generally not considered a cryptocureency, it is still a digital asset with a trading marketplace which while the Roblox corperation servers must process these payments, are against the wishes of the Roblox corperation as they are the issuing authority of robux and do not really want their players selling the robux for cash.

Its important to note, that while we start this thought experiment with this model, that this is base case is not theoretical. It is the technical reality of robux. Every category here after is not the technical reality of robux, but later I will demonstrate that they are the technical reality of various other cryptocurrencies

Digital Asset category 1: The Roblox corperation has caught on to the hype and marketing buzz of crypto. Instead of an SQL database backend, they now run a blockchain. The Roblox corperation remains the issuing authority, the transaction authority, they keep the only copies of all transaction history, robux continues to only run on servers maintained by the Roblox corperation, and remain the software update authority.

Is this a cryptocurrency? Please consider what differences this category has to the previous category.

Digital Asset category 2: The Roblox corperation has instead decided to open the transaction history up for anyone to view. Now anyone can see their account balances without pinging the Roblox corperation servers directly. Here's what they still can not do. While users can see their transactions because they've downloaded copies of the ledger, the ledger will not update without the Roblox corperation servers making that update. Therefore, the Roblox corperation remains the transaction authority, the issuing authority, the software server hosting authority, and the software update authority. All while continuing to run what is sometimes referred to as a "private blockchain" on the backend.

Is this a cryptocurrency? Please consider the differences of this category and the previous categories.

Digital Asset category 2.1: The Roblox corperation has decided to release their transaction authority. Now, anyone can submit proofs of work (previously called hash cash) to the merkle tree (often referred to as blockchain). Except, not really. The Roblox corperation is still the server hosting authority. We often call no server hosting authority "running your own node". The Roblox corperation as the software updating authority, has not release a node client for anyone to run. So while Robux has public miners now, the Roblox corperation is still the transaction authority, because they can deny transactions (or reject blocks) that are not to their liking. This is still a capture point 2 asset, but its design seems to be attempting to skirt some regulation of some sort.

Digital Asset category 3: The Roblox corperation has finally actually released their transaction authority. Anyone can run a node and submit their own proofs of work. However, the Roblox corperation remains the issuing authority and the software update authority. This inherently means that to some degree, they have not wholly given up their transaction authority. A new client release that reverses some transaction or set of transactions can still be released. I will detail how this is done (rather how it has been done by other cryptocurrencies in the past)

Digital Asset category 4: The Roblox corperation has given up their issuing authority. This can mean they issued a bunch of robux to themselves before releasing this authority, or it could mean that the network started without an issuing authority entirely. The Roblox corperation remains the software update authority and thus the capture point previously mentioned is still in effect.

Digital Asset category 5: The Roblox corperation created robux one day. Everyone runs it on their computers, anyone can submit a proof of work. If any individual were to reject a transaction, they would fall out of alignment with all the other people running the software and no longer have something called "robux". The Roblox corperation releases a new client and no one installs it on their computers. Instead, they create their own software and continue calling it by the same name. Robux as a social contruct, is the new software and the new client released by the Roblox corperation is left finding a new name for itself as it is not in agreement with the rest of what people run on their computers.

Digital Asset category 5 is Bitcoin, but there are many cryptocurrencies which claim to be like Bitcoin, but which are not in Digital Asset category 5. You may have been wondering this entire thought experiment, why bother detailing all these scenarios? Obviously these other categories are not like Bitcoin and surely noone would consider them cryptocurrencies either, but they do. Lets go over some.

DAC1: Private blockchains marketed to companies as immutable storage solutions

DAC2: Private blockchains where many companies can collaberate and pay for what is advertised as an immutable storage solution.

DAC3: XRP aka Ripple often creates new XRP tokens when the price rises to "fund development"

DAC4: Etheruem. Under their proof of work model, they had a built in "difficulty bomb" in their software that would make it impossible for new transactions to be processed without the software update released by the Ethereum foundation. This is how they were able to enforce the move to proof of stake as well as reverse a hack that a large Ethereum using organization experienced. Proof of Stake on the other hand, could use its own model to describe what it is. Proof of Stake falls more securely in understanding in the stakeholder model (I mean its in the name and everything), by which shareholders vote on software updates and move together on a sucessful vote. Shareholders also have transaction rejection authority, but must be in a majority to do so. I would argue that this corperate structure moves modern day Etheruem to DAC2 status.

DAC5: Just Bitcoin.

I urge you of course not to take my word for it alone. Intellectual honesty will reveal the truth. I believe congress should vote for a digital asset catorization investigation office so that each of these methods for capture points can regulated to the liking of congress, while not applying those same regulations to digital asset categories where such regulation is not actually possible and therefore ineffective.