Companies Like Visa Can Help in The Fight Against Crypto Regulation
For the last few years, we saw a lot of strange befelloews.
Visa is reported to remain on track for their cryptocurrency implementation. What this will look like is still a mystery. However, the idea of Visa allowing the governments to stop this process without a fight is not logical.
In this video I discuss how Hive is truly building an alternative. The idea of Visa and crypto makes no sense since it is deisgned to get rid of gatekeepers. Nevertheless, we can piggyback on the power of a company like Visa if they are going to take up some of the fight.
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Very interesting!
Once again you have great ideas and the future is very open to possibilities.
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Some tech just get so big that for them to stop it would have to shut down the internet, now days its basically impossible in a sense that it would take a huge effort to witch hunt everyone using P2P tech like usenet or torrents, same goes from crypto now days and maybe Visa is aware of this, the thing also is that without regulation in place thats a double edge sword that big companies like Visa can use in their advantage to stay in business using crypto and just dump it when ever they want if they need so for now they just stay in based on the idea that crypto is unstoppable at this point
I agree that they don't have enough money for everything but all they need to do is make an example out of a few companies/people. Once they do, it will slow down the industry for a long time. So I think that is their aim.
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Summary:
In this video, Task discusses the current regulatory landscape in the crypto industry, particularly focusing on Hive. He delves into the challenges and potential impacts of regulatory crackdowns, mentioning the SEC and Gensler's aggressive approach towards the industry. Task highlights the conflicting narratives around Visa's involvement in crypto, emphasizing the shift towards centralized crypto systems due to regulatory pressures. However, he also points out the resilience of decentralized systems like Hive in resisting regulatory control. Task draws parallels between the evolution of file-sharing platforms and the decentralized nature of Hive, suggesting that redundant applications and infrastructures can make it challenging for regulators to target and shut down decentralized networks.
Detailed Article:
Task begins the video by addressing the regulatory uncertainty surrounding Hive and the broader crypto space. He expresses concerns about potential regulatory hurdles that could hinder mass adoption in the Hive ecosystem. The ongoing strict stance of regulatory bodies like the SEC, led by Gensler, is highlighted as a major factor contributing to the current challenges faced by the crypto industry.
A key point of discussion revolves around Visa's role in the crypto industry and the conflicting reports regarding their crypto plans. Task points out that while Visa's involvement may seem like a move towards mainstream adoption, it also signifies a shift towards more centralized systems within the crypto space. He emphasizes that the influence of major corporations like Visa can sway the direction of crypto regulations, potentially leading to centralized control, contrary to the principles of decentralization.
Task then delves into the dynamics between developers and established financial entities within the crypto space. He notes that while developers are driving innovation and decentralization, established institutions like Goldman Sachs and JP Morgan are often behind efforts to centralize and regulate the industry for their benefit. The tug-of-war between these two factions is depicted as a defining feature of the current crypto landscape.
Drawing parallels to historical events such as the rise and fall of Napster in the file-sharing industry, Task suggests that decentralized systems like Hive pose a similar challenge to regulators. He explains how the decentralized nature of Hive, with its distributed network of developers and users globally, makes it a formidable entity that is inherently resistant to targeted regulatory actions.
Task underlines the importance of redundancy in the development of applications and infrastructure within the Hive ecosystem. By replicating functionalities across different decentralized applications, Task argues that it becomes increasingly difficult for regulators to single out and suppress any specific component of the network. This strategy, according to Task, creates a game of 'whack-a-mole' for regulators, making it impractical to completely shut down decentralized platforms like Hive.
In conclusion, Task reiterates the resilience and decentralized nature of Hive, emphasizing its status as a 'unicorn' in the crypto space. He encourages the continued development and integration of redundant systems within Hive to bolster its resistance against regulatory pressures, ultimately painting a picture of a network that is challenging to regulate 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.