Cryptocurrency Goal: Spread Out Quickly

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There is a massive fight taking place and it is only getting fiercer. The esteemed Senator form Massachusetts is pushing the Senate to ban non-custodial crypto wallets under the AML laws.

The Senator who once dishonestly proclaimed she was native American is now misrepresenting the cryptocurrency industry.

But she is simply wrong when she says that cryptocurrency is “the method of choice for international drug traffickers” and terrorists.

Ah yes. The old drugs, guns, and human trafficking line. This ranks up there with the "it is for the children" rhetoric they put out.

The bottom line is that it is time to step up the push by cryptocurrency. It is imperative to understand how the battle is taking place and how entitled politicians (which is all of them) like Warren are after control and power.

So how does the industry combat this?

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Spread Things Out Far And Wide

We often discuss Web 3.0 and what is can potentially offer. At this point, the governments of the world love Web 2.0. Applications like Facebook and Twitter provide them with all the data they need. There are backdoors that they can access which offers an open database.

Isn't it interesting that the USG is now starting to put the heat on TikTok? This is one social media platform the claim is a Chinese company when the reality it has nothing to do with the CCP. Yet that is the boogeyman the powers that are like to use today.

Cryptocurrency and blockchain offer a solution. However, to achieve the end that is required, a massive shift needs to take place. The answer comes in numbers. If there are billions involved in cryptocurrency, the governments of the world are going to be impotent against them.

Here is where development is the key in the battle. Perhaps it is an ideological battle but what do you think has the ability to innovate and move at a faster pace: the private sector or government?

People fear CBDCs not realizing how long it will take them to roll things out. Look at the upgrades to Ethereum and slow moving that is. There are a ton of highly intelligent developers working on that project. In the end, these things simply take time.

That is the advantage cryptocurrency has. We have a decade lead on the governments of the world. There are already hundreds of millions of people across the globe involved. Another 5x will put the entire industry on firm footing.

Tokenization of Everything

The crypto industry has added 1,000 new coins in 2023. This shows the expansion that is taking place. It matters none what these are tied to and if they achieve any value. Market pricing is not the main criteria.

What this does show is the development that is tied to the industry. Even if these are existing projects adding a token, it is now part of the battle. Here we have 1,000 more ways for people to get introduced to cryptocurrency.

In these articles, we often refer to the Eurodollar System. That is the road map that cryptocurrency can follow. It was a system that was developed outside the reach of the likes of Elizabeth Warren. No matter what politicians or central banks want to do, they cannot touch this system. In fact, when it comes to USD creation, the off-shore system dwarfs what is produced by the commercial banks.

Think about that for a second. The number of "dollars" used for transactions is multiples of what is done with actual dollars. Here is the power of a decentralized system (albeit gated since it is open to banks).

Humanity can do this simply by tokenizing everything. On Hive, we are laying the foundation for Web 3.0 social media. Already many of the applications utilized by Web 2.0 are available on Hive. While they are in early stages of development, they do work and provide people with alternatives.

Dan Larimer showed us the path many years ago with this piece:

Hive is starting to live out this vision. We see areas like Venezuela, Ghana, Cuba, and Nigeria have their economic prospects changed by Hive. The social media aspect is leading directly into the financial.

In the end, it all comes down to network effect. What Elizabeth Warren and her cohorts do not want is for the masses to run to a technology such as this. That is always the threat to the established player. As we move further down the path towards the network state, these people will find their power eroding.

Therefore, they are going to do anything they can to hang on. Our solution is to spread out quickly. The wider and deeper cryptocurrency goes, the less points of vulnerability that exists.

If you found this article informative, please give an upvote and rehive.

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22 comments
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The government certainly doesn't have that speed and all that number to move at a fast pace. I think the whole constant witch hunt against crypto creates the urgency that things like CBDC will roll out quickly and easily too. As for Elizabeth Warren and co, I've not really seen anyone reasonable in the Biden led administration.

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I would thins you are correct. We have ot use our agility and flexibility to outpace them. Development takes time but we have a lot working on it.

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True, if more greater number of people go Into Cryptocurrency, the government would have no choice than to roll with it, awesome pick there. The future of Cryptocurrency still remains intact that's what I know.

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It is amazing the extent to which governments will go to stifle the growth of cryptocurrency for the power and control which they are intent on holding onto.

They seem to be acting desperate judging by the attacks after the attack on cryptocurrency.
To maintain the edge over governments the devs have to keep building and keep it decentralized, no time for applications that is focused coins mooning, it's time we go back to the basics of what crypto was set to achieve from the onset.

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As long as blockchain can be developed, we are going to see more cryptocurrency and digital assets. It has to become an ever expanding ecosystem.

Just keep building.

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I think time is on crypto's side. There system is bogged down with bureaucracy and they're still not on the same page among themselves. Crypto has already made some solid grounds. They don't have unlimited resources to go after all of them and progress is still happening on the crypto space.

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I agree. We have to use the time wisely those. Every effort for expansion has to be the priority. We have to keep pushing things outward.

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I have only one question for the people of Massachusetts "What in the hell is Wrong with you?".
That woman makes me sick every time I here her speak.
Not only is she a vile, hypocrite of the highest order; she is an idiot. How does she plan to even enforce such a "ban"?
Sorry for the rant, sometimes I can't contain myself ;)

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NOthing worse than a know it all and that what many of these politicians are. They believe they know better when they truly are ignorant to what is going on.

Or brining an agenda which might be worse.

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Crypto is definitely a threat to the government because they want to maintain their control and Hive is doing a great job of creating this threat. In a place like Venezula, having an easy way to get something stable as a dollar is a huge plus from all the cryptomaniacs that I have seen.

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It's obvious that governments are losing control of money at an alarming rate. That said, I am not against to paying fair taxes on my increase in value. The government could easily write up some input/output tax code for fiat conversion to and from crypto, but they don't want that, they want the full dollar value of crypto to be part of their tax equation, and that's not logical. If I had 3 tons of iron, am I taxed for the possesion of that, or am I taxed on the difference between what I paid for it and what I sold it for? The later of course. Iron is not fiat, and therefore, crypto is not fiat either.

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The answer is obvious. Government is always antagonistic and hostile to anything that is successful coming from the private sector simply because their impotence and incompetence are being exposed. Once successful in their smear campaign, they will create their own poor copy of whatever they hate. I love the consistency.

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