Governments, Wall Street, and Regulators are all invading. Cryptocurrency is no longer being overlooked.
In this video I discuss how governments are starting to regulate and what I think about it. This is almost getting to the point that it is humorous.
▶️ 3Speak
There is too much growth for them to keep up with, good for crypto to stay the course of what it was made for in the first place. Good points you made with this video!
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Government interference will bring massive pump. In price to alot of project as they will also bring their massive inflation assest to fund the cryptocurrency space
Do you think/hope it's possible that what your saying about government becoming impotent will happen within your lifetime? Everytime I hear you talk on this subject, and what I already know from my past research, I think this thing is going to come on like an avalanche within the next 5-10 years.
And in my opinion, we are in the midst of a revolution of the state of mind within the population of citizens of various countries especially these United States of America.
Governments will not go away in the 5-10 years. They will likely use UBI to extend their relevance.
I would expect the USG will be in trouble of going away in 50 years or longer. There will be a lot of smaller ones that face trouble first.
This will be an evolutionary move as they get hit from all sides.
There will be some adaptions to government as you say, due to the reasons mentioned.
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Great video
Summary:
In this video, the speaker discusses cryptocurrency and regulation. He emphasizes that the initial purpose of cryptocurrency, starting with Bitcoin, was to be anti-establishment and operate outside of government control. The speaker argues that as governments attempt to regulate cryptocurrency, they are essentially trying to protect the existing financial system and maintain control. He highlights that technology evolves rapidly, making regulatory efforts ineffective and ultimately empowering the cryptocurrency industry. The speaker also points out how governments themselves are using cryptocurrency to circumvent sanctions and control by other governments, further questioning the effectiveness of regulation. He concludes by stating that decentralized and distributed systems are the future of cryptocurrency and will challenge the power of centralized entities and governments.
Detailed Article:
The video delves into the ongoing debate surrounding cryptocurrency regulation and its implications on the market. The speaker begins by acknowledging the increasing scrutiny from various government entities towards crypto, highlighting the push for regulation and control over a decentralized system that was originally designed to operate independently of such oversight. He underscores that the cryptocurrency movement was intended to be anti-establishment in response to the financial crisis caused by corrupt banking institutions.
The speaker elaborates on Bitcoin's resilience against government interference at its base layer, citing China's short-lived mining shutdown as an example of how the network quickly adapts and redistributes mining activities globally. He stresses that while Bitcoin may withstand such pressure, other cryptocurrencies' susceptibility to government intervention depends on the specific blockchain and project structure.
The discussion then shifts to the inefficacy of governmental regulation in a rapidly evolving industry. The speaker criticizes the sluggish pace of regulatory bodies like the SEC, still fixated on past issues like ICOs while the industry progresses towards decentralized finance, NFTs, and DAOs. He questions the government's ability to keep up with technological advancements and decentralized systems, suggesting that attempts to regulate crypto will ultimately be futile.
Furthermore, the speaker highlights the irony of governments using cryptocurrencies themselves to circumvent sanctions, showcasing Cuba's legalization of crypto to bypass US sanctions. This narrative challenges the notion of governments overseeing and controlling cryptocurrencies while also utilizing them to evade external constraints.
The speaker concludes by asserting the inevitability of decentralized and distributed systems in the crypto space, rendering centralized entities and governments increasingly impotent. He envisions a future where decentralized projects and open-source software will proliferate, undermining centralized control and ultimately challenging the conventional financial system.
In essence, the video conveys a strong argument against government regulation in the cryptocurrency sector, advocating for the autonomy and decentralization that are inherent to the industry's core principles. The speaker posits that attempts to regulate crypto will not only be ineffective but will inadvertently empower and accelerate the growth of decentralized networks, ultimately diminishing the authority of centralized institutions in the financial landscape.