I know you're all excited for the new boom in crypto. But what many have feared is becoming more of a reality every passing day. Governments are making sue that your crypto is not your crypto but institutional crypto dealing with similar bureaucracies from similar banking institutions. I know people were interested in seeing all that money flowing into crypo from banks. All that's going to mean is that people will own crypto through banks and they'll really own nothing to call their own.
Slow Banning/Criminalization of Stablecoins
It's a sad reality but governents are just like mafia protecting their own turf. Stablecoins are competition to USD and SWIFT system. @localgrower is making a series of posts on these subjects.
The US have continued to print their currency and do not have the gold to hold the ratio for the new currency supply. Countries such as Iran that have tried to bypass the use of the dollar for international trade have been banned from using SWIFT, a global payments system run by the US dollar. The use of alternative currencies for trade has triggered war from the Americans historically. Iran, China, Libya have all tried to bypass the US dollar an do trade amongst themselves, yet where has America gone to ‘war’ in recent years?
@localgrower/financial-education-4-what-is-a-reserve-currency
They Are Making It Impossible To Take Crypto Out Of System
So far we could just buy crypto on exchange and send them to a wallet we own or even just donate the crypto. Now regulation is going to demand KYC being done on the wallet you're sending your crypto to. Think about how many troubles this is going to create. We'll be getting pushed towards banking institutions even when we want to own crypto.
Crypto won't be a threat to governments when governments and their crony institutions are the ones who own most of the crypto anyways.
Gag Orders Are Becoming A Silent Norm
Gag orders are something you're not going to hear much about because the people/companies getting gagged are not allowed to talk about them without facing serious consequences. It's going to be like snitching on the Mafia. Only few have been brave enough to talk about them. You're probably not going to hear anything about 99% of these cases.
- Encryption itself is getting criminalized day by day
- Encryption is being forced to be weakened
- Backdoors are going to become a norm going forward
- Open source and open review are going to be the only real defenses to know the truth about these surveillance
Good News: Facebook's Diem Does 6 Tx/Second
What a beautiful thing to hear! We have already created massively powerful system with very little funds. We've basically bootstrapped our blockchains. The best fB could come up with was 24 Tx/Second. Isn't that good to hear in terms of competition. Read More
Snowden Called The Bottom
The reward for winning a round, once worth mere pennies, is now around one hundred thousand dollars, making it economically reasonable for people to divert enormous amounts of energy, and data centers full of computer equipment, toward the math — or ‘mining’ — contest. Town-sized Godzillas of computation are being poured into this competition, ratcheting the difficulty of the problems beyond comprehension.
Snowden is a true great hero and a Knight for all of humanity. He's also a smart cookie that made a good call. I hope he's doing ell with his investments. This is a man who lost a great deal to make sure all of us get to know how bad things have been getting with surveillance. Thank you sir for the work you've done :) Wish you great profits!
Zoom is A Privacy Cancer
These people have lied about end to end encryption and they've censored accounts. They're working with Chinese authorities and they have seen caught sending sensitive material to Chinese servers.
It's OK to use Zoom on a separate device and why not use the free version for its easy features. But don't spend a penny on these guys and don't do anything private or sensitive with Zoom!