The Move Of Wall Street And Regulators Into Crypto And Why It Wont Matter

There are so many different little studios starting to pop up by actors that are anti-woke and trying to get away from the Hollyweird crap.

The more independent networks, studios, manufacturers, etc, is how we are going to disrupt and win the fight.

The regulators are trying their hardest to apply some sort of control. While it is slightly working with BTC and ETH as they continue to amass more of both, crypto won't just be limited to those two. I like to consider them as the necessary sacrifice so that decentralized crypto can flourish.

Summary:

In this video, the host discusses the recent developments in the crypto industry, particularly the approval of Bitcoin and Ethereum ETFs by the U.S. government. He argues that this represents a "hijacking" of crypto by Wall Street institutions, with the approval of the government. The host believes this centralization of control is concerning, as it goes against the decentralized nature of crypto.

However, the host remains optimistic about the future of crypto, as he sees it as a technology that transcends finance and has the potential to disrupt various industries, including entertainment and media. He believes that while governments and regulators may try to control and regulate crypto, the rapid pace of technological advancement will make it difficult for them to keep up.

The host suggests that crypto is not just an asset class, but a technology that will be integrated into various aspects of our digital lives, from chatbots to AI models. He predicts that within the next five to ten years, governments and financial institutions may struggle to maintain their current level of control over the crypto ecosystem, as more decentralized and innovative applications emerge.

Detailed Analysis:

The host begins by discussing the recent approval of Bitcoin and Ethereum ETFs by the U.S. government, which he sees as a "hijacking" of crypto by Wall Street institutions. He argues that this centralization of control is being done with the approval of the government, as evidenced by the term "regulation," which implies that the government has some degree of control over the entities that are now in charge of this asset class.

The host points out that the SEC, as part of the U.S. government, had to approve the ETFs, and that the units in these ETFs are being sold by Wall Street institutions that have been approved by the SEC. He argues that this effectively excludes individual investors and smaller players from offering these products, further consolidating the industry.

The host acknowledges that the Bitcoin ETF does not give the government control over the Bitcoin network itself, and that the Ethereum ETF currently does not allow for staking, which would give the government control over the Ethereum network. However, he suggests that this could change in the future, and that the situation in Hong Kong, where ETFs do not have the same requirements, could be a sign of things to come.

Despite these concerns, the host remains optimistic about the future of crypto, as he sees it as a technology that transcends finance and has the potential to disrupt various industries. He points to the disruption happening in the entertainment and media industries, where traditional players like movie studios and television networks are facing significant challenges from technological advancements.

The host argues that crypto is not just about finance or currency, but is a technology that is fundamentally about data – how it is transmitted, stored, and utilized. He suggests that as this technology becomes more integrated into various aspects of our digital lives, it will become increasingly difficult for governments and regulators to maintain control over it.

The host cites the example of AI models, where the use of tokens to quantify and measure data usage is becoming increasingly common. He suggests that this trend will continue to spread, making it harder for governments to regulate crypto as a standalone asset class.

The host acknowledges that while financial institutions and governments may be able to exert control over certain crypto assets like Bitcoin and Ethereum in the short term, he believes that within the next five to ten years, this control will become increasingly difficult to maintain. He suggests that the rapid pace of technological advancement, combined with the global and decentralized nature of crypto networks, will make it challenging for governments and regulators to keep up.

Overall, the host's message is one of cautious optimism – he recognizes the challenges posed by the centralization of control in the crypto industry, but believes that the underlying technology has the potential to disrupt and transform a wide range of industries, ultimately making it difficult for governments and financial institutions to maintain their current level of control.