Many look at Hive as a nothing chain. This is a mistake. When I look at the industry, we see the wagons circling. Governments all over the world are starting to ramp up their focus upon cryptocurrency.
In this video I discuss how we are likely to see many projects coming under sttack. We already see Cricle joining the party by filing for a banking license. This means that having two coins, HIVE and HBD, built on a decentralized blockchain could be powerfull tools in what is coming down the road. This is a point many people overlook when studying this industry.
▶️ 3Speak
The only thing that concerns me is the 20 witnesses. I would think 50 signing witnesses would be better, but I am not a dev like that so I don't know what ramifications that would cause. I feel it would allow for more decentralized distribution of Hive, at least on the witness side of things.
Well there are more than 100 witnesses. The 20 are consensus.
And I think the game theory and math show that 50 isnt much better than 20. I would have thought more was better but there is a point where it becomes inefficient.
Fortunately, many of the 20 we have now, cant stand each other. So they will only agree on the big stuff. LOL
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I think there needs to be some movement in the top 20. Been kind of stagnant, I would love to see some of the others get a change at the top. I am real interested to see how the vote decay is going to work. I don't think that has hit yet from the last fork. I think if the consensus was bigger, like 50 or even 100, it would motivate more people to get witnesses running because they feel they would have a change to get in the active set. Just my opinion.
No the vote decay hasnt hit yet. The last hard fork was in June so we have about 2 month months.
We are going to see some votes removed. I am not sure if there will be a jostling of position because of it. That will be fun to watch.
I think having a chance is a good thing so I can see where you are coming from. We were talking about that today on CryptoManiacs, where does one have to be to break even? We were operating on the assumption of about 50.
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I think eventually people will get sick of the centralized stuff and look for decentralized options like what we’ve got here. HBD savings accounts, voting and all that. It’s pretty good economically but it’s flying under the radar of many at the moment. I don’t think that will be the case long term though!
Most people are so used to the centralized things that this is the convenient thing for them. Enough to see Facebook and YouTube. To be honest, even I am partially amongst them. I both watch and upload YouTube videos. Both as a hobby, but many people make even their living on it.
Yeah YouTube is a bit of an anomaly with direct monetization of the stuff. You could do it in roundabout ways with Fakebook but YT it's direct which is cool. My wife runs quite a successful small business and the main driver of it is connecting and talking with people on Fakebook so there's certainly components of that there.
As for people looking towards something like hive, I think it could capitalize on censorship and distrust of the centralized ones.
Agreed. Most people do not care until they are kicked off. And since most do not do anything to warrant that, those platforms are fine for them.
However, if we can offer more features including tokenization, then there is something to it.
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Once the UIs improve, people will be more open to options.
I dont think they will be sold on the decentralized since most dont care. It will be up the features we bring to the table.
That is what users want.
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I don’t know, when big names like Trump get banned from the Twat platform, people tend to look for other things. Who’s going to be banned next that will drive more away? We can only guess.
Definitely UI’s are going to be important, as will some way for people to get to understand the whole keys notion and all that. Not sure if we can necessarily make that easier and be decentralized but it’s something we have to see if there’s ways to make it easier in the early days of someone being here.
That is true but in spite of Trump getting banned, Twitter still have its users. I dont think things dropped at all.
The challenge is we dont have an alternative. We need #ProjectBlank.
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I just hope that it won't go really low like Splinterlands because it's very disheartening
You mean the price. Markets do what markets do.
If you expect them to always go up, you are setting yourself up for disappointment.
Pullbacks are as natural as bull runs.
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Not always going up, of course. But not go down as lows as it first started or worse.
Not even in the same ball park. Splinterlands in a centralized application built on Hive. Hive is the decentralized protocol that can't be touched by regulators in that manner the way he is saying. Price is such a small part of what we are doing here.
And it will eventually catch up. We cant keep a secret forever.
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I totally agree with you. As regards HBD & Hive, we offer a great solution. The nodes that are being ran by the witnesses is a perfect study. This goes a long way to show the difference between Hive and other projects.
"Decentralized platforms" ,"web3" are being searched more often these days. I'm still suprised why Hive doesn't pop up. Hive is way undervalued and also not considered.
A lot of reasons why it doesnt get the recognition. We do have some issues that we have to work out. For this reason, we are still stifled in our growth.
That said, it is a hidden gem. Those who realize it will find out how powerful it is down the road.
Many will be joining at later dates wishing they were in earlier.
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The centralized applications/networks just have way too ways for the legacy system to attack. So I am not optimistic about them and I think Hive is in a good position because they can't really affect the rest going on.
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Vulnerabilities have to be eliminated. It is just a question of who addresses their problems.
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Oh yes, I've come back online after a very long gap and I'm impressed as well as overwhelmed and how? Hive is just amazing and as I am still getting used to each of the setups and status on my account every article and read is a knowledge empowerment for me. Yes Governments of different countries are taking a variable view to cryptocurrency as a whole but somewhere down the line they fall in line in accepting that Crypto is here to stay. So lets hope for the best.
Welcome back. There is a lot to learn but it is worth it. You will find that the benefits to Hive keep growing.
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@pixresteemer(1/5) gave you LUV.
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Summary:
Taskmaster discusses the current regulatory landscape in the cryptocurrency space, focusing on stablecoins and the implications of increased government scrutiny and regulations. He highlights Circle's move to apply for a banking license and predicts that stablecoin issuers and companies will have to register as banks in the future. Taskmaster also critiques Justin Sun's (of Tron) announcement of a stablecoin project and emphasizes the risks associated with centralization in the face of regulatory pressure. He then shifts the discussion to Hive, emphasizing its decentralization and resilience compared to other blockchain projects. Taskmaster expresses confidence in Hive's position due to its decentralized nature and spread-out governance structure, making it harder for regulatory bodies to target. He concludes by advocating for open-source, decentralized systems as a way to enhance resiliency against potential regulatory crackdowns.
Detailed Analysis:
Taskmaster begins by highlighting the increasing regulatory interventions by governments and regulators in the cryptocurrency space, specifically focusing on stablecoins. He discusses the trend towards increased regulation and how governments are likely to rely on traditional financial institutions like Wall Street to enforce these regulations. He mentions Circle's decision to apply for a banking license to comply with regulatory requirements, indicating a broader trend towards regulating stablecoin issuers and companies.
The discussion then shifts to Justin Sun's announcement of a stablecoin project backed by a basket of cryptocurrencies. Taskmaster criticizes Sun for the centralized nature of Tron and highlights the risks associated with centralized entities in the face of regulatory scrutiny. He emphasizes the importance of complying with banking regulations and warns of potential consequences for non-compliance.
Taskmaster then transitions to discussing Hive's position in the current regulatory landscape, praising its decentralized nature and resilience compared to other blockchain projects. He points out that Hive's governance structure and token distribution make it less vulnerable to regulatory pressure and targeting. Taskmaster emphasizes the importance of decentralization and open-source systems in increasing resilience and mitigating regulatory risks in the cryptocurrency space.
Overall, Taskmaster's analysis provides insights into the regulatory challenges facing the cryptocurrency industry, contrasts centralized and decentralized projects like Tron and Hive, and advocates for open-source, decentralized systems as a way to navigate potential regulatory crackdowns effectively.
Notice: This is an AI-generated summary based on a transcript of the video. The summarization of the videos in this channel was requested/approved by the channel owner.