Web 3.0 Needs To Resist TradFi
There is a problem arising.
With the quest for green candles, i.e. bigger numbers, people are applauding the hijacking of cryptocurrency. As shown, Bitcoin was the first to go. Michael Saylor, a longtime proponent has been stacking satoshis for a number of years. However, he is being dwarfed by larger institutions.
This is nothing new for fixed money.
What we are witnessing is a continued move away from Satoshi's vision. While it might not have been perfect, the overriding pursuit of decentralization should not be forgotten.
Bitcoin emerged out of the Great Financial Crisis. It occurred when major banks were receiving a bailout as a result of their actions. Of course, this resulted in the collapse of the global economy, the loss of fortunes, and skyrocketing unemployment.
Satoshi sought to lay the foundation for an alternate system, one that did not have the bankers (and Wall Street) at the center of all matters.
I wonder what he/she/they would think about major Wall Street institutions being the custodians of Bitcoin.
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Web 3.0 Disruption
Are we here to disrupt the existing financial system or simply hand everything over to them?
This is something that each individual has to consider deeply. While many discuss the idea of decentralization, are they really committed to it. The answer, like always, does not reside in what people say. Rather, their actions tell it all.
That isn't to say we should ignore TradFi completely. To be honest, we do have a balancing act of requiring some of their resources. The notoriety that crypto gets from the ETF discussion is beneficial. Venture capitalists are controlling entities. However, their funding is crucial for getting applications off the ground.
We have to be careful of overstepping. The danger here is giving the entire baby to TradFi, killing Web 3.0 before it gets started.
Crypto was designed to disrupt the existing financial system, not to integrate into it.
It would seem this is a concept lost on many.
The Next Battleground
Larry Fink is all over the next battleground.
While many focus upon their favor coin or token, and how to get it to pump, Fink is looking to have Blackrock hijack the next multi-trillion opportunity. The tokenization of real world assets does not get enough discussion within crypto. Instead, it seems that many are simply willing to cede this to Wall Street.
Tokenization comes down to ownership. That is what Web 3.0 is all about.
The challenge with the tokenization of securities under a Fink plan, it is nothing more than a ruse. It entails putting thing such as stock or bonds on a blockchain. However, under his vision, this would still flow through institutions like his.
In other words, he remains the gatekeeper.
Many will remember the images of people carrying boxes out of major banks after being let go due to the meltdown. The collapse of Lehman Brothers sent shockwaves through the world. Many lost their life savings due to the actions of the bankers.
In return, for the mess they created, they got a bailout.
Tokenization is a pathway to making sure your assets are returned. When the likes of Fink are in control, it is up to him whether that happens or not. One could say these entities are regulated, hence there is protection. How did that work out the last time?
Centralization
The goal of Wall Street is to create a ledger of assets. It is something they control and access is authorized by them. This is really a mechanism that protects the banks from each other while also reducing their costs of operation.
What it does not do is protect individuals from Wall Street. It also allows the extraction to continue. The present financial system is one where these institutions have a structure of extraction through their control of the asset and infrastructure tied to them.
Actually, this is the same argument I spent much of the last year making. This is no different than what is taking place with artificial intelligence and AI. We see billions showing up each day to feed the same beast. Web 2.0 entities that maintain the databases we require access to.
Ultimately, that is what we are talking about.
Data is data, whether it is associated with a unit of value or some social engagement. Our financial system is really just "numbers on a screen", the same as social media. The value comes from the ability to control and manipulate said data.
The question always reverts back to who controls it. In a server-client system, the answer becomes obvious. If you are not following, simply ask yourself why someone like Larry Fink is involved.
Real world assets will be tokenized. This is going to happen at some point. The only question is will it be part of another system of extraction created by the largest financial institutions or not?
People need to decide whether they want more centralization in their lives, something that has not tended to work out great for the average person or do they prefer something different.
If it is the latter, we need to embrace that fact that decentralization is something people have to fight for. It is not simply granted.
Posted Using InLeo Alpha
World has been, still is being squeezed into centralization with access into every portion of ones life, change has happened particularly fast since 2015 IMO.
Decentralization was relatively stable before the big players wanted a piece of the pie, now questionable to be honest. How difficult will it be for people to totally reject the old, learn new, perhaps many are too scared to rock the boat, or spend time learning how web3 works.
@tipu curate
Upvoted 👌 (Mana: 65/75) Liquid rewards.
There's no way people would be pleased with more centralization in their lives.
STOP THE ABUSE ON HIVE
FAKE HIVE POLICE
HIVE IS DEAD
HIVE IS ONE BIG FARM
!LOL !WEED !MEME !VSC !discovery 35 !GIF !BBH !DUO !hiqvote !WINE !ALIVE !DOOK !PGM !LUV !PIMP !LOLZ !BEER !PIZZA !DUO !HUG FOR !DOOK GINA @CRIMSONCLAD $BBH
https://hive.blog/hive-104387/@bpcvoter3/se19g2
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6 days ago in #life by slobberchops (81)$0.00
Reply 3
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[-]bpcvoter2 (-5)(1) 4 days ago · Will be hidden due to low rating
NO DOWNVOTES FOR MARKY MARK'S SELF VOTING !WEED
https://hive.blog/life/@slobberchops/re-gogreenbuddy-sdr1wb
https://www.publish0x.com/the-dark-side-of-hive
https://www.reddit.com/r/stoptheabuseonhive/
https://peakd.com/hive-164833/@bilpcoinbpc/you-have-all-witnessed-this-account-being-downvoted-to-a-negative-reputation-for-no-reason
SHAME ON YOU ALL SAD PEOPLE WHO SCAM LIE AND FARM HIVE AND HIVERS
[-]acidyo (82) 3 months ago
Haha at "I shouldn't make commercial" :D Maybe something to worry about when you have more youtube subscribers! Quite interesting content though, these things should get more subs on there and here.
$4.28
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[-]gogreenbuddy (67) 3 months ago
Yeah thought that was funny too
$4.54
4 votes
gogreenbuddy: $4.47
acidyo: $0.06
holbein81: $0.01
koleso: -$0.00
https://hive.blog/life/@gogreenbuddy/i-had-to-give-up-on-my-gabion-fencing-too-much-work
@themarkymark @buildawhale @upmyvote @ipromote @gogreenbuddy @usainvote @punkteam @makerhacks @apeminingclub @leovoter @blockheadgamds @rollingbones farm @cwow2 @solominer @steevc @adm @abit @theycallmedan @dalz @abh12345
HE MAKES CURATION REWARDS WITH ALL HIS ALT ACCOUNTS BURNING TOKENS LIKE THIS DOES NOT TAKE OLD TOKENS IT MINTS NEW ONES AND BURNS THEM
https://hive.blog/hive-167922/@bilpcoinbpc/the-power
https://www.bilpcoin.com/hive-167922/@bilpcoinbpc/the-power
https://www.bilpcoin.com/hive-167922/@bpcvoter1/response-4-to-themarkymark-marcus-buildawhale-usainvote-ipomote-leovoter-gogreenbuddy-and-over-100-of-his-alt-accounts
Reply 2 to @eddiespino
Reply to @eddiespino
cwow stop the drink and drugs
Stop supporting the fake Hive police who do nothing but exploit Hive
Many people on Hive will never get to spend any of their Hive as it may become illegal in certain countries
https://peakd.com/hive-158694/@bilpcoinbpc/marks-dream
Zac the man with the scam plan
lol the Marky mark keeps dreaming
GET HELP STOP CRYING
WE CAN NOT HELP YOU
ARE YOU OK
Hello Marky, are you ok do you need help, are you facing mental health challenges?
It's crucial to seek help. Continual dishonesty can erode trust and your mental health. Downvotes do not have an impact on us, but our consistent sharing of accurate information is key to us.
Marky stop getting butt fucked LOL.
https://hive.blog/computers/@themarkymark/re-bpcvoter1-sfi1bm
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[-]themarkymark (80) yesterday (edited)
Farming? Show me where I am farming, I post like one post a month at this point, and all buildawhale is burned. As you say transactions don’t lie. And don't say curation rewards, I'd get those no matter what I vote on and if you expect I will be the only person on this blockchain to forfeit curation rewards, you are dumber than we know you are.
https://hive.blog/hive-167922/@bpcvoter1/seq7ok
https://www.bilpcoin.com/undefined/@bpcvoter1/response-3-to-themarkymark-marcus-buildawhale-usainvote-ipomote-leovoter-gogreenbuddy-and-over-100-of-his-alt-accounts
https://hive.blog/hive-193084/@bpcvoter1/response-2-to-themarkymark-marcus-buildawhale-usainvote-ipomote-leovoter-gogreenbuddy-and-over-100-of-his-alt-accounts
!LOL !WEED !GIF !MEME
https://hive.blog/hive-167922/@themarkymark/re-bpcvoter1-sepr9c
21 hours ago in LeoFinance by themarkymark (80)
https://hive.blog/hive-167922/@bpcvoter1/senppv
https://hive.blog/life/@anomadsoul/re-gogreenbuddy-seqf1p
https://hive.blog/hive-104387/@bpcvoter3/se19g2
Downvoted BY HIVE FARMERS
https://hive.blog/life/@slobberchops/re-gogreenbuddy-sdr1wb
https://hive.blog/hive-167922/@themarkymark/re-bpcvoter1-setz65
Response 4 to themarkymark marcus, buildawhale usainvote ipomote leovoter gogreenbuddy, and over 100 of his alt accounts
Reply 2 to @eddiespino
Reply to @eddiespino
cwow stop the drink and drugs
Can't you see the problems on Hive?
Posted using Bilpcoin
LOL
It seems like THEMARKYMARK is dealing with some personal drama and mental issues, which might be causing them to spam us and others with baby pics, GIFs, and questionable content he's been doing the same for years. The fun doesn't stop there, as this seems to be a recurring theme with multiple online personas. The real question is, do we want to trust these drama-magnets with our hard-earned funds or any significant influence on Hive?
On Hive a significant issue exists with automatic upvotes consistently rewarding the same individuals day in and day out
We want to address the issue of downvoting. It has caused pain to many people, and we want to make sure it doesn't happen again reply to @jacobtothe
On Hive a significant issue exists with automatic upvotes consistently rewarding the same individuals day in and day out
We hope that those who genuinely care about Hive will reconsider their actions, as continuing down this path could inadvertently harm innocent users who are unaware of these issues
lol the Marky mark keeps dreaming
Marks dream
https://www.publish0x.com/the-dark-side-of-hive/the-marky-mark-marcus-its-clear-youre-deeply-engaged-in-farm-xmjodol
Posted using Bilpcoin
https://www.bilpcoin.com/undefined/@bpcvoter1/lol-the-marky-mark-keeps-dreaming
themarkymark (80)in FreeCompliments • 2 days ago
No.
I downvote spammers, you are a spammer, you get no monies. It’s very simple.
In the meantime go get some help. You obviously have some issues going on.
2 days ago in FreeCompliments by themarkymark (80)$0.00
Reply 4
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[-]bpcvoter1 (-4)(1) yesterday · Will be hidden due to low rating
GET HELP
$0.00Reply Edit
[-]themarkymark (80) 4 hours ago
I have a personal chef, maid, and a captain for my yacht. What other help do I need?
$0.00Reply
https://hive.blog/hive-140084/@themarkymark/re-bpcvoter1-sg5l3x
@gogreenbuddy THIS MAN IS A TOP HIVE FARMER AND SCAMMER SOME OF HIS OTHER ACCOUNTS @THEMARKYMARK @BUILDAWHALE @USAINVOTE @UPMYVOTE @LEOVOTER @IPROMOTE @PUNKTEAM @CWOW2 @STEMGEEKS AND 100s more
https://www.publish0x.com/the-dark-side-of-hive
https://hive.blog/hive-167922/@bpcvoter1/on-hive-there-s-a-user-who-frequently-burns-a-significant-amount-of-hive-lol-with-his-own-accounts
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The question always reverts back to who controls it. This big guys are crawling in through the name of crypto n blockchain acceptance. One needs to understand their dynamics; 'if I cannot beat them then I'll take it from them'. This is happening gradually.
That is true. We know that it is the main question.
Our present financial system is full of intermediaries.
Bonds and Stocks are regulated assets right? Is it even possible to buy and sell these outside of institutions? I wasn't expecting it to be decentralized and out of control of the government. The ideal is to remove all the middlemen, but I think there will always be at least one. Currently we need to go through banks or licensed companies to buy/sell stocks from the stock exchange. If the stock and bond market were moved to the blockchain, there will still need to be an organization that issues the wallets that can interact with the blockchain.
That is my expectations on the regulated assets, but it shouldn't be the case for crypto assets.
Yes and this is the issue.
We have the SEC that will approve the tokenization of RWA only for authorized institutions like Blackrock. Hence we have tokenization still within the TradFi world.
That is where we need to move beyond it. Already issued stocks will be in the regulation but if platforms start to emerge that can handle it, things can change as new issues take place outside the system.
!LOL
STOP THE ABUSE ON HIVE
FAKE HIVE POLICE
HIVE IS DEAD
HIVE IS ONE BIG FARM
!LOL !WEED !MEME !VSC $BBH !discovery 35 !GIF !BBH !hiqvote !ALIVE !DOOK !PGM !LUV !PIMP !LOLZ !BEER !PIZZA !HUG FOR !DOOK GINA @CRIMSONCLAD
https://hive.blog/hive-104387/@bpcvoter3/se19g2
Downvoted BY HIVE FARMERS
6 days ago in #life by slobberchops (81)$0.00
Reply 3
Sort: Trending
[-]bpcvoter2 (-5)(1) 4 days ago · Will be hidden due to low rating
NO DOWNVOTES FOR MARKY MARK'S SELF VOTING !WEED
https://hive.blog/life/@slobberchops/re-gogreenbuddy-sdr1wb
https://www.publish0x.com/the-dark-side-of-hive
https://www.reddit.com/r/stoptheabuseonhive/
https://peakd.com/hive-164833/@bilpcoinbpc/you-have-all-witnessed-this-account-being-downvoted-to-a-negative-reputation-for-no-reason
SHAME ON YOU ALL SAD PEOPLE WHO SCAM LIE AND FARM HIVE AND HIVERS
[-]acidyo (82) 3 months ago
Haha at "I shouldn't make commercial" :D Maybe something to worry about when you have more youtube subscribers! Quite interesting content though, these things should get more subs on there and here.
$4.28
1 vote
Reply
[-]gogreenbuddy (67) 3 months ago
Yeah thought that was funny too
$4.54
4 votes
gogreenbuddy: $4.47
acidyo: $0.06
holbein81: $0.01
koleso: -$0.00
https://hive.blog/life/@gogreenbuddy/i-had-to-give-up-on-my-gabion-fencing-too-much-work
@themarkymark @buildawhale @upmyvote @ipromote @gogreenbuddy @usainvote @punkteam @makerhacks @apeminingclub @leovoter @blockheadgamds @rollingbones farm @cwow2 @solominer @steevc @adm @abit @theycallmedan @dalz @abh12345
HE MAKES CURATION REWARDS WITH ALL HIS ALT ACCOUNTS BURNING TOKENS LIKE THIS DOES NOT TAKE OLD TOKENS IT MINTS NEW ONES AND BURNS THEM
https://hive.blog/hive-167922/@bilpcoinbpc/the-power
https://www.bilpcoin.com/hive-167922/@bilpcoinbpc/the-power
https://www.bilpcoin.com/hive-167922/@bpcvoter1/response-4-to-themarkymark-marcus-buildawhale-usainvote-ipomote-leovoter-gogreenbuddy-and-over-100-of-his-alt-accounts
Reply 2 to @eddiespino
Reply to @eddiespino
cwow stop the drink and drugs
Stop supporting the fake Hive police who do nothing but exploit Hive
Many people on Hive will never get to spend any of their Hive as it may become illegal in certain countries
https://peakd.com/hive-158694/@bilpcoinbpc/marks-dream
Zac the man with the scam plan
lol the Marky mark keeps dreaming
GET HELP STOP CRYING
WE CAN NOT HELP YOU
ARE YOU OK
Hello Marky, are you ok do you need help, are you facing mental health challenges?
It's crucial to seek help. Continual dishonesty can erode trust and your mental health. Downvotes do not have an impact on us, but our consistent sharing of accurate information is key to us.
Marky stop getting butt fucked LOL.
https://hive.blog/computers/@themarkymark/re-bpcvoter1-sfi1bm
Bilpcoin Gems High-risk Low-risk Super Trump (ticker: Strump) Corgi with knife (ticker: Corgi) Engines of Fury (Ticker: Fury)
Let's talk
Rider jim
Make today great
Decentralized or centralized
Bilpcoin Vibes
Tomorrow may never come, so seize the day seize the moment
Love life, be happy
[-]themarkymark (80) yesterday (edited)
Farming? Show me where I am farming, I post like one post a month at this point, and all buildawhale is burned. As you say transactions don’t lie. And don't say curation rewards, I'd get those no matter what I vote on and if you expect I will be the only person on this blockchain to forfeit curation rewards, you are dumber than we know you are.
https://hive.blog/hive-167922/@bpcvoter1/seq7ok
https://www.bilpcoin.com/undefined/@bpcvoter1/response-3-to-themarkymark-marcus-buildawhale-usainvote-ipomote-leovoter-gogreenbuddy-and-over-100-of-his-alt-accounts
https://hive.blog/hive-193084/@bpcvoter1/response-2-to-themarkymark-marcus-buildawhale-usainvote-ipomote-leovoter-gogreenbuddy-and-over-100-of-his-alt-accounts
!LOL !WEED !GIF !MEME
https://hive.blog/hive-167922/@themarkymark/re-bpcvoter1-sepr9c
21 hours ago in LeoFinance by themarkymark (80)
https://hive.blog/hive-167922/@bpcvoter1/senppv
https://hive.blog/life/@anomadsoul/re-gogreenbuddy-seqf1p
https://hive.blog/hive-104387/@bpcvoter3/se19g2
Downvoted BY HIVE FARMERS
https://hive.blog/life/@slobberchops/re-gogreenbuddy-sdr1wb
https://hive.blog/hive-167922/@themarkymark/re-bpcvoter1-setz65
Response 4 to themarkymark marcus, buildawhale usainvote ipomote leovoter gogreenbuddy, and over 100 of his alt accounts
Reply 2 to @eddiespino
Reply to @eddiespino
cwow stop the drink and drugs
Can't you see the problems on Hive?
Hive dropping to $0.000
Posted using Bilpcoin
LOL
It seems like THEMARKYMARK is dealing with some personal drama and mental issues, which might be causing them to spam us and others with baby pics, GIFs, and questionable content he's been doing the same for years. The fun doesn't stop there, as this seems to be a recurring theme with multiple online personas. The real question is, do we want to trust these drama-magnets with our hard-earned funds or any significant influence on Hive?
On Hive a significant issue exists with automatic upvotes consistently rewarding the same individuals day in and day out
We want to address the issue of downvoting. It has caused pain to many people, and we want to make sure it doesn't happen again reply to @jacobtothe
On Hive a significant issue exists with automatic upvotes consistently rewarding the same individuals day in and day out
We hope that those who genuinely care about Hive will reconsider their actions, as continuing down this path could inadvertently harm innocent users who are unaware of these issues
lol the Marky mark keeps dreaming
Marks dream
https://www.publish0x.com/the-dark-side-of-hive/the-marky-mark-marcus-its-clear-youre-deeply-engaged-in-farm-xmjodol
Posted using Bilpcoin
https://www.bilpcoin.com/undefined/@bpcvoter1/lol-the-marky-mark-keeps-dreaming
themarkymark (80)in FreeCompliments • 2 days ago
No.
I downvote spammers, you are a spammer, you get no monies. It’s very simple.
In the meantime go get some help. You obviously have some issues going on.
2 days ago in FreeCompliments by themarkymark (80)$0.00
Reply 4
Sort: Trending
[-]bpcvoter1 (-4)(1) yesterday · Will be hidden due to low rating
GET HELP
$0.00Reply Edit
[-]themarkymark (80) 4 hours ago
I have a personal chef, maid, and a captain for my yacht. What other help do I need?
$0.00Reply
https://hive.blog/hive-140084/@themarkymark/re-bpcvoter1-sg5l3x
@gogreenbuddy THIS MAN IS A TOP HIVE FARMER AND SCAMMER SOME OF HIS OTHER ACCOUNTS @THEMARKYMARK @BUILDAWHALE @USAINVOTE @UPMYVOTE @LEOVOTER @IPROMOTE @PUNKTEAM @CWOW2 @STEMGEEKS AND 100s more
https://www.publish0x.com/the-dark-side-of-hive
Upon examining our posts, you will notice they have been downvoted, and we've been labeled as scammers and spammers, which we find amusing. We consistently share new content
https://hive.blog/a-i/@worldhelper/chatgpt-100percent-hp
it's so, so concerning to see Blocktrades delegating 2+ million Hive power to Buildawhale, and Buildawhale is downvoting legitimate content