I sincerely hope that the congress makes the right types of decisions with regards to cryptocurrency regulations. it is high time, the world learns more about what blockchain means before more centralised entities like facebook will give them a tarnished version
it is high time, the world learns more about what blockchain means before more centralised entities like facebook will give them a tarnished version
100% right. I've had long concerns about both government and corporate entities appropriating blockchain tech to pervert it into something they can control. That's their primary worry, control. BTC isn't controllable in the traditional sense that they're used to... and it terrifies them. I must be the only person I've spoken to so far who wants to see libre get quashed.
I personally don't think it's the golden light of adoption everyone else seems to think Rather Facebook's libre could halt adoption (of real cryptocurrency) in its tracks and lead to some type of dystopian nightmare where fbook con 90% of the population into thinking that libre is blockchain. Basically, all of the financial freedoms that real public blockchain databases provide diluted by this 'libre' watered down corporate led facimile of a cryptocurrency. Plus, imagine the power the companies who ran the nodes would have. All financial data recorded, with Facebook already holding a sht tone of personal information on everyone.
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Could congress actually ban crypto though? Calling it treason or something? I mean they made it illegal for companies to do business with Huwai, and they don't allow any banks to work with Iran... so couldn't they employ a similar tactic with crypto?
I love what this guy's saying, but I really don't see any reason why the government would want to support crypto... I guess unless Facebook lobbies like crazy.
No, I don't think they could at all. But they can put a dent in the market by making it hard to operate in the US. But Asia has embraced crypto so much than they'd be shooting themselves in the foot I think.
they don't allow any banks to work with Iran... so couldn't they employ a similar tactic with crypto?
Absolutely, I'm from the UK and we basically follow whatever the US does. But, the rest of the world would keep using the technology. For me, what makes it bullet proof is blockchain decentralized database. Cryptocurrencies are just one application, and an application that governments don't like because they can't control it.
I really don't see any reason why the government would want to support crypto.
Me either, but they can't stop it... they can only drive it underground ;-)
I didn't even know there was a Congressional Blockchain Caucus. I think that's encouraging as it is. But his comments do ring true, and bring some much-needed clarity to the table. They are not going to stop people from working on blockchain technology and using it to innovate. Even to attempt that foolish endeavor is ridiculous. I think even Republicans are going to be beating the blockchain and crypto drum within a decade.
I didn't even know there was a Congressional Blockchain Caucus.
I know, right! And you're unlikely to see Emmer's speech in any American mainstream media because... well ha ha you guys really like to keep your media Orwellian over the other side of the pond 😉
I very much swing to the left politics wise (lol tbh I'm an anarchist of a type) but I agree that even republicans might jump on board... especially when they start to understand the money making potential of blockchain tech. But to my mind it's just inevitable that this technology will become the next iteration of the internet. That's why western governments need to wake up and embrace it sooner rather than later. You better believe Asian governments are learning about and developing blockchain tech.
For me, the cryptocurrency question is about a loosening of control, which government and establishment banking will never accept without a fight. This is where the distinction between blockchain (decentralised database) and crypto becomes so important. You can't really have one without the other at this point, but I feel like the sell to get government on board is to show the many possibilities of blockchain tech beyond transfer of value.
Tbh, I'm hopeful that they don't get too deep into it until certain humanitarian applications I can see for blockchain happen. If government get involved too early, they will steer the development away from those world changing (improving) applications to try and keep as much power as possible.
These are just my thoughts, and I'm aware that most of steem are firmly over on the right side of the fence 😉
But as an example of what I'm trying to get at above, let's look at how ordinary people in Venezuela have used crypto to take a small measure of power back and alleviate their extreme poverty. That would have been impossible ten years ago. Things would have been much worse for the ordinary people of Venezuela, and possibly a lot more violence and civil war. At the end of the day, if you can improve things for yourself by moving outside of governmental fiscal control when the shit hits the fan, as it did in Venezuela, then it changes the balance of power... which I find fascinating. I sincerely hope that crypto keeps gaining adoption for these reasons; social and economic changes on a global scale.
Ha ha, anyway... I've entered rant mode. Just finished my morning coffee 😂☕
P.s. I'm going to put this article up on narrative later today as I think it's an interesting balance against all the FUD going on around crypto at the moment.
I think you hit it on the head @raj808. Once those in power realize that blockchain technology has the power to correct the excesses of the 20th century and that it is unstoppable, they will have no choice but to support its development. I'm looking forward to the day.
I sincerely hope that the congress makes the right types of decisions with regards to cryptocurrency regulations. it is high time, the world learns more about what blockchain means before more centralised entities like facebook will give them a tarnished version
100% right. I've had long concerns about both government and corporate entities appropriating blockchain tech to pervert it into something they can control. That's their primary worry, control. BTC isn't controllable in the traditional sense that they're used to... and it terrifies them. I must be the only person I've spoken to so far who wants to see libre get quashed.
I personally don't think it's the golden light of adoption everyone else seems to think Rather Facebook's libre could halt adoption (of real cryptocurrency) in its tracks and lead to some type of dystopian nightmare where fbook con 90% of the population into thinking that libre is blockchain. Basically, all of the financial freedoms that real public blockchain databases provide diluted by this 'libre' watered down corporate led facimile of a cryptocurrency. Plus, imagine the power the companies who ran the nodes would have. All financial data recorded, with Facebook already holding a sht tone of personal information on everyone.
Fck that.
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Could congress actually ban crypto though? Calling it treason or something? I mean they made it illegal for companies to do business with Huwai, and they don't allow any banks to work with Iran... so couldn't they employ a similar tactic with crypto?
I love what this guy's saying, but I really don't see any reason why the government would want to support crypto... I guess unless Facebook lobbies like crazy.
No, I don't think they could at all. But they can put a dent in the market by making it hard to operate in the US. But Asia has embraced crypto so much than they'd be shooting themselves in the foot I think.
Absolutely, I'm from the UK and we basically follow whatever the US does. But, the rest of the world would keep using the technology. For me, what makes it bullet proof is blockchain decentralized database. Cryptocurrencies are just one application, and an application that governments don't like because they can't control it.
Me either, but they can't stop it... they can only drive it underground ;-)
Excellent Raj, what a positive conclusion you have found out of all the Libra reports from US govt.
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I didn't even know there was a Congressional Blockchain Caucus. I think that's encouraging as it is. But his comments do ring true, and bring some much-needed clarity to the table. They are not going to stop people from working on blockchain technology and using it to innovate. Even to attempt that foolish endeavor is ridiculous. I think even Republicans are going to be beating the blockchain and crypto drum within a decade.
I know, right! And you're unlikely to see Emmer's speech in any American mainstream media because... well ha ha you guys really like to keep your media Orwellian over the other side of the pond 😉
I very much swing to the left politics wise (lol tbh I'm an anarchist of a type) but I agree that even republicans might jump on board... especially when they start to understand the money making potential of blockchain tech. But to my mind it's just inevitable that this technology will become the next iteration of the internet. That's why western governments need to wake up and embrace it sooner rather than later. You better believe Asian governments are learning about and developing blockchain tech.
For me, the cryptocurrency question is about a loosening of control, which government and establishment banking will never accept without a fight. This is where the distinction between blockchain (decentralised database) and crypto becomes so important. You can't really have one without the other at this point, but I feel like the sell to get government on board is to show the many possibilities of blockchain tech beyond transfer of value.
Tbh, I'm hopeful that they don't get too deep into it until certain humanitarian applications I can see for blockchain happen. If government get involved too early, they will steer the development away from those world changing (improving) applications to try and keep as much power as possible.
These are just my thoughts, and I'm aware that most of steem are firmly over on the right side of the fence 😉
But as an example of what I'm trying to get at above, let's look at how ordinary people in Venezuela have used crypto to take a small measure of power back and alleviate their extreme poverty. That would have been impossible ten years ago. Things would have been much worse for the ordinary people of Venezuela, and possibly a lot more violence and civil war. At the end of the day, if you can improve things for yourself by moving outside of governmental fiscal control when the shit hits the fan, as it did in Venezuela, then it changes the balance of power... which I find fascinating. I sincerely hope that crypto keeps gaining adoption for these reasons; social and economic changes on a global scale.
Ha ha, anyway... I've entered rant mode. Just finished my morning coffee 😂☕
P.s. I'm going to put this article up on narrative later today as I think it's an interesting balance against all the FUD going on around crypto at the moment.
I think you hit it on the head @raj808. Once those in power realize that blockchain technology has the power to correct the excesses of the 20th century and that it is unstoppable, they will have no choice but to support its development. I'm looking forward to the day.
you are a brilliant man and your post also.i like your post very very very very much.