Governments Are Not Invited

in LeoFinancelast month (edited)

Satoshi created Bitcoin as a response to the 2008 financial collapse. During that time, we saw the global economy tank due to the actions of the banking system. Since that time, the established system has only gotten worse.

Simultaneously, the world of cryptocurrency grew. The last decade, especially the last 5 years, saw this fringe asset class move into mainstream attention. It is now a regular part of the financial discussion. Over the next couple years, it is easy to foresee it branching out by orders of magnitude.

There is an interesting situation taking place in all of this. Many, both within and outside the crypto industry, are looking at what governments are doing. Some are calling for clarity in regulations. Others are wondering if governments will ban Bitcoin. There are a few even watching to see when nations start to buy cryptocurrency.

If we harken back to the days of Satoshi, we see that he (she, them) did not ask permission to create Bitcoin. This was not a situation where something was being created to invite governments and financial institutions in. On the contrary, it was designed to operate outside of them.


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Of course, things change in a decade. Bitcoin was hijacked by the financial crowd and is rapidly becoming their token. As more of it is swallowed up by major corporations, that is where the control will be. It will not be the "people's money".

That is actually not a problem. The genius of cryptocurrency is anyone can generate it. No longer is this only in the hands of a few governments. We now see thousands of currencies in which we can operate, many providing value to millions of people.

There is a saying: make sure you own house is in order.

What is interesting in the government versus crypto tussle is that one is playing with broken weapons.

The governments of the world are in hot water. We are seeing things deteriorate very quickly for some of them. Confidence is starting to wane which is going to cause many social problems. When this happens, the elite, who are far outnumbered, will find their influence wane.

Another issue is that we see the economic pie struggling. There is no doubt that global growth has slowed the last decade. It is actually anemic. This is a major problem because debt levels exploded. Without the growth, there is no way for many entities to sustain this behavior. Central banks are backed into a corner with few tools left to get out of this.

The loss in confidence for governments is huge. This is something that many are overlooking. While they have guns and prisons, the thing that keeps it all together is confidence. When populations lose trust in their governments, the leaders have a much tougher time.

In many instances this is not an issue. However, when there are alternatives, the problem for them is compounded. Cryptocurrency is an alternative. Since it is expanding so rapidly while the only thing government has growing is debt, we are seeing a shift that could have profound implications.

Cryptocurrency's major value proposition is that it is peer-to-peer transactions. In an environment like this, that is powerful. Not only are governments, and their banking cronies, not invited, they are not even needed. In the past, they were central to economic activity. With cryptocurrency, this is no longer the case.


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Essentially, the governments of the world are trying to take over someone's house while their own is on fire. This is a senseless thing to do when framed like this but it is exactly what is taking place. The thirst for power is so great that they are destroying their entire power structure. As the different pillars they depend upon keep deteriorating, their position weakens. Eventually, this accelerates to the point where they simply cannot stop it.

Does this mean everything is going to collapse? Not at all. There is plenty of money and production out there. Even a sharp pullback leads to a lot of wealth creation. There are capital flows though, which means many asset classes get hammered.

One of the biggest around the world is bond markets. Europe and Japan already torched theirs and the U.S. might be following suit. Thus, we will see capital move to other areas, as we are seeing with collectibles.

More importantly, in all this, is the technological advancements. We are to the point where a great deal can operate outside the hands of government regulation. As more is moved off central servers, the ability to control (police) the system dwindles. It becomes a game of whack-a-mole as each action on their parts results in two that counter it.

Governments are still trying to decide whether this is all a benefit to them. We can count on their arrogance to believe they can control it. Here we see a vital ally. Time is our friend if we keep developing, expanding, and growing. Unlike other aspect of society, this is not something that can harnessed and regulated.

They are spending a lot of time going back and forth as to what to do. Even a single government, like India, keeps altering their positions. The same is true in Nigeria, China, and South Korea. As the entire pie gets bigger, the views of governments are going to mean less.

Size and number are important. We like to view things in terms of the totality. For example, with crypto we look at the total market cap. However, it is more important to look at how things are made up. It is far different having a market cap where 2 or3 projects make up 90% of it as compared to one where the largest is only 10%.

When it comes to transactions, the governments strength is in less numbers but bigger sizes. Let us harken back to the ICO craze. The SEC can go after a Block.One when it raises $4 billion. However, what are the chances that it will succeed if there is $4 billion raised by 100,000 entities in $40K increments?

With crypto and the infrastructure that is being built, the later is only becoming more likely.

Simply put, we are developing a new system in which governments, and all their "friends", simply are not invited. We are not asking permission to do all of this.


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Cryptocurrency's major value proposition is that it is peer-to-peer transactions. In an environment like this, that is powerful. Not only are governments, and their banking cronies, not invited, they are not even needed.

Preaching to the choir on this one, bro!

One of the things I teach my students is that the rise of ubiquitous peer-to-peer transactions (and the subsequent elimination of the need for 'middlemen') will continually decrease the importance of both big corporations and government. This explains why both are interested in getting involved with (i.e. 'controlling') blockchain-related technologies.

Right now, it is interesting to see major institutional investors buying up BTC and thus fueling the path to their own obscurity.


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Right now, it is interesting to see major institutional investors buying up BTC and thus fueling the path to their own obscurity.

It is an interesting turn of events when you think about it. They are helping to fund their own demise.

They do not see it that way though. They believe they can control it. Arrogance creates blindspots.

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There was substantial interest in financial innovation before "Satoshi." There were many people exploring the concept of electronic tokens. I know because I worked on these.

Satoshi did not step into a vacuum. There were groups pushing against the regulation.

The innovation was to create an extra-legal entity to issue the tokens and to attribute the creation to a fictitious character.

That said, everything else was in place including a huge number of people at the ready to push back against regulators.

That is true. I stand corrected.

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saw this today and (without having read yet because work ofc), it really seems like gov't & the institutions that generally support & receive support from it, are seriously missing the point of cryptocurrency, to the point where it makes me wonder if that's intentional.
GovCoin, Really?
(Source Joke Tweet, Click, it's Good)

LOL that is very good. That is how people view things sadly.

The entire premise of CBDCs is so asinine compared to what crypto is for. Yet it is the government's way of trying to maintain control. I think they are really facing a multi-decade march to not being relevant.

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CBDs are lame just federally legalize cannabis already

that G is for fucking GOOGLE lol and google is an EOS block producer lol. those colors are BTC and voice, bunch of cia fags lol

I honestly thought bitcoin was older than that. I distinctly remember having a conversation about it, but I thought sure it was closer to the 2002 time frame or something like that. It sucks getting old. I can't keep everything straight anymore. I was actually just having dinner with my wife and some of our friends the other day and we got talking about crypto again. I have brought it up to them before, but given current world things like you mentioned, they are much more open to it now. I had to lie to them and tell them that their traditional investments will still be safe. I don't think we really know the answer to that... They created a Coinbase account and I am going to get them started investing in crypto though...

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Hmmm. You knew about it 5 years before the White Paper.

Maybe you are Satoshi.

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Yeah, that is why I am saying my timeline must be messed up somewhere. I'd have to go back and look at my resume to see where I was working and when. I know the location I remember having the conversation, but I don't remember the timeframe. If it was when I think it was, it was pure chance that I even heard it. Bad luck that I didn't pay more attention to it!

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There were other forms of digital cash before BTC, but it's the first one that got it right, or right enough, at the right time.

Yeah, like I said, I think I might just have my work timeline wrong. It could have been the earlier ideas about it too. I just am pretty sure I remember him saying Bitcoin.

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"Even a sharp reversal generates a lot of wealth."

Totally in agreement, a world has been created that has been progressively sustaining itself and not depending on those entities that at the beginning did not reach out. now that these entities present problems and see us as a solution they forget everything previously done. Well... they are simply not invited for sure.

Great post @taskmaster4450

We are rapidly advancing into abundance and those entities are hindrances. They are operating according to the old models which were developed in a world of scarcity.

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BRO HOW is there STILL not a fucking TIP button for Hive engine and hive and sbd???
I mean how does @tipu not have that already? wheer i can deposit to tipu and tip/ i mean i have bots that do that on DISCOR DI mean @inertia had that on @banjo why cant banjo tip INSIDE hive i mean it was tipping tokens INSIDEDISCORD and had withdarws and deposits.. but we cant just use hive itself??

I mean on TWITTER i can do

.tip @taskmaster4450le 1 KANDA

and it will tip you that hive engien token kanda OVER TWITTER using TWITTER as the wallet, and youc an withdraw it from twitter to hive and no oen talks about it o uses it and its liek wow, u build a briudge and make new tech happen and no one cares

I hope you are right and I love your optimism.

I feel a war is being fought between tyranny and freedom at the moment and it is unclear which side will win.
In some ways every time they ban or restrict, there are so many options to get around it.

But its frustrating how few people take up the freeing option and how many people are lazy sheep, willing to give up hard won freedoms for the illusion of safety.

But its frustrating how few people take up the freeing option and how many people are lazy sheep, willing to give up hard won freedoms for the illusion of safety.

Freedom is never won by the masses. It is always the brave few with the insight to go for it that pave the way for others.

The rest just ride on the coattails of what went before them.

As for the war, you are right. We are in a major battle for freedom right now. What is taking place within crypto is a microcosm of something much larger.

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200 (3).gif

we need a GIF explorer on condensor a simple one man

u realize how muchg value that woudl add to hive if we had in condensor a VERY simple emoji and gif explorer from giphy, itd be dope, i mean dude, it should be like telegram

why is telegram so much better

why cant we just fork telegram

@dan is trying to do that for his clarion elepehant zebraOS EDEN operating sytstem market of EDENOS mark of the DAN tr8ibe belly flop 7 year curse thing lol

Hopefully people begin to realize that Govt should not be in the business of money. Govt should not buy companies or have an unlimited credit card. Separating money and politics will come not by political choice but by capital moving to an alternative system (blockchain). I think people are realizing the social contract that once existed between public/private no longer exists.


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Hopefully people begin to realize that Govt should not be in the business.

This is a complete sentence. It is why I feel that one of the most important experiments in crypto is governance. We need to stop giving power to these entities that were developed in a time where we are physically located in a geographic area and that is all we knew.

Now we are global in nature, and heading towards virtual. This completely changes things.

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Me & @jfang003 were having a similar conversation (at @leomarkettalk) a few minutes ago on India's stance on Crypto.

While the future is certain, exchange volumes are growing like crazy. Citizens have entered this space for good and moving billions of dollars every month. The local Crypto community is getting stronger day by day and our voice is almost unavoidable. Even if the governments do not listen, we have become numb towards their opinion because it DOESN'T MATTER anymore.

We do not need them to tell us what to do with our money. This system is far better than the traditional one. We have the freedom to make our own choices and create wealth which we actually own. They are panicking because they are losing control and this makes me wonder what they are going to do about it?

They can't do shit!

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Even if the governments do not listen, we have become numb towards their opinion because it DOESN'T MATTER anymore.

That is a very interesting statement since that is a country with well over 1 billion people. If that many people are ready to tell the powers that are to fuck off, then we are going to see a radical shift in sentiment.

Good for those in India who are already climbing on board. Great to see it.

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We cannot miss this revolution that could potentially change the world just because governments think otherwise. They never think for the good of the people. In fact they are anti-people so they can fuck off for sure :)

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As the crypto market cap goes up, the governments control will continue to drop. I just don't know whether or not they will still be alive. I feel like they will be alive for at least a few decades because we have not normalized our lives in the digital realm yet.

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They arent going to disappear overnight. It is probably a good 50 years before the nation-state concept is really ready to be given up. Some of the stronger countries will hang on longer while the weaker ones collapse.

It is all a cleansing out process which is all a part of nature.

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Satoshi created Bitcoin as a response to the 2008 financial collapse

Pretty sure the work on Bitcoin started before 2008. I think it was more of a combination of natural technical evolution of e-cash systems as well as an alternative to fiat currency generally, but not specifically the 2008 crash.

Good point. There was the progression of development that was started long before the release of Bitcoin and was a system that he released that timed with the collapse during that period.

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When we will have our Hive island we can hang up a sign with "Shady Governments and Crappy Politicians are not invited" :)))

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When we all have our non-Facebook VR headsets and @amr008 programs that island for us.

Until then, we just have to keep starving the beast however we can.

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I would prefer an actual island, but VR is better than nothing I guess

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you financial peopel dont need any more private islands

I can't express in words how much I hate governments!

I'm coming to peace with all of it. I'm trying to view things in terms of long view evolution. Life, and the anti-life (govs, corps., religions,...basically the institutional tools we made to help) did just that to get us here. But evolution is constant and useful devolves into detrimental. Just like we start young and vigorous before devolving back to weak and feeble.

The cosmic organism that is life needed to be introduced to the virus of Fascism in order to build defenses against it.

It's all just a part of how it works. You can already see signs of immunity to these things beginning to appear if you look for them. They're everywhere.

Those entities are realizing they have a short life expectancy. They do not fit in a digital world, let alone a virtual one.

Hence they will see their powers reduced. Over the next few decades, this will start to be evident.

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Tbh I think maybe none of us belong in a digital world. We may be seeing the beginning stages of life evolving us into obsolescence.
We aren't driving this train. At best we influence it from time to time but life is doing its own thing and it’ll let us hang out as long as we’re useful. After that who knows how things go down.

LOL I think you just did.

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Bitcoin is permissionless, meaning that ANYONE is invited.

Yes, even legacy banks and governments.

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yeah untill the Bitcoin Elite decide to launch the agenda to put secret controls on BTC to scam the governments by using some secret blockchain arbitration committee to decide to just confiscate trillions in government accounts over ethereum's next updates over the next few years, or when BTC becomes a "Green" system under tesla lololol

imagine when governments get their entire btc stash's confiscated and we have our own IMF WORLD BANk predators come ina nd make loans and lower their credit ratinsga nd take OVER HAHAHAHAHA

they showed US how to do it thinking we would never copy them and do it better lol they dug their own graves

the old anunaki symbiol based magic bullshit governmments based on OLD PAPERWORK and ink are DONZO

FINITO

TELOS

END

Essentially, the governments of the world are trying to take over someone's house while their own is on fire.

Governments have the desire to control. This is sadly also present in capitalist states as well. It's hardly obvious, but it's there. So a system running completely independent of the government and their institutions is seen as a threat, even when it isn't.

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pixresteemer_incognito_angel_mini.png
Bang, I did it again... I just rehived your post!
Week 56 of my contest just started...you can now check the winners of the previous week!
8

soon blockchains will ban and confiscate governnment accounts hahahahaha

and they will have eosio dpos based PROOF OF NON government USE rewards, to PAY peopel to NOT use ANY governments like an extreme NO government use allowed license

telos and btc and elon may pull that on the giovernment a fucking defi rug pull

defi the govenrment

bitconnect the democrats

theytre such easy targets

privatrize everything the end

And if governments somehow manage to "take control", tax and everything they love to do and control ... Be sure that the world soon develops other parallel ideas to continue in this decentralized world of the great compositions of the bad (banks and governments ) and then, it will be a few more years until they realize and want to enter again ... And the cycle continues


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