Hive Is Outside The Reach Of Regulation
Hive is advancing. With all the talk of regulation and the obvious signs it is coming, we could see a completely different environment in a few years.
In this video I discuss how important it is for us to provide an opportunity that truly exists outside the reach of the governments. Hive is such a system.
▶️ 3Speak
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@taskmaster4450, you've been given LUV from @pixresteemer.
Check the LUV in your H-E wallet. (1/5)
If the regulators come down hard on semi-centralized chains that'll likely be the trigger that causes them to take decentralization seriously. We already see some organizations (like ShapeShift) transitioning into DAOs because they see what's coming.
Awesome! I didn't know that "ShapeShift" had somehow come back to its roots - I guess then it's KYC-proof again? :-)
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Yes, and they have integrated with Thorchain for cross-chain swaps as well.
Great! I'll have to dive into that :-)
As we know that at some point centralized institutions (like the SEC) will go after DAOs too - when they'll have understood what they are, lol - it's reasonable to think that apart from revenue generating motives, those DAOs Communities must be made up of individuals and groups mentally moved by the desire to fight, if the overall legal and technical environments around cryptos turn very hostile.
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Yes, definitely take a look :)
I think history will show that crypto, DeFi, and DAOs were good for humanity. I don't think we need "to fight" per se, rather just keep working diligently in a decentralized fashion towards a better future and eventually the people will come over to our side.
Agreed! By using "to fight", I was referring to the very process you describe ("keep working diligently in a decentralized fashion"), even during times where there could be a bunch of temptations to give up that work.
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Spot on analysis
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I globally agree with your synthesis, @edicted.
But as I use to apply the "to harvest the best, prepare for the worst" motto, I wonder if there have been debates and/or posts based on the following 2 hypothesis:
a) some States, beginning with the U.S. and the U.K., illegalize HBD, Hive and all Hive related tokens (cause they're competitors with the respective State CBDCs), so that our transactions in those currencies must be performed in a black market / clandestine fashion, and
b) thanks to Artificial Intelligence and the "3 letters agencies" work, the first 20 Hive Witnesses see their nodes physically seized and put out of service.
I'd suggest any consistent Hive resilience / resistence scenario to start from there (and could try writing an article on that basis, if it hasn't been done till now ;-)).
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a) Pirating torrents and violating intellectual property laws is illegal.
Yet people still did it anyway an only the top 0.01% were prosecuted.
Crypto is even harder to make illegal than torrets.
b) Hive has more than 20 nodes, and if the network was under attack like that more and more users would boot up a node to keep Hive running. Top 20 witness is a very high paying job, and if the original top 20 get shut down a new top 20 immediately replaces them. It would also be highly unlikely that all 20 nodes would get shut down at the same time, in addition to "3 letter agencies" only having authority within the borders of the United States. We can just put the physical servers in another physical location.
Thanks for these spot on answers, @edicted!
At the end of the day, the vigor of our resistence will most probably be proportional to our fighting spirit, and the balance between what we'll have to earn and to loose.
Yes, crypto cannot be illegalized, in our minds nor in our practices, once we all agree that the Hive and the HBD's collaterals, for example, are the infinite creative and social potentials ("human capitals", if we want to reuse that terminology) our platform is channeling and structuring like a wealth catalyst. Hence our coins and tokens are much worthier than any fiat relying on a dying political and financial Ponzi scheme.
With such patterns in our minds, I totally agree that we’d go on using our tokens if a crypto prohibition strikes in the US (and probably, in such a case, in the European Union, Australia, the U.K., and other OECD member States). I’ll for sure continue upvoting Hive quality posts, power up my account and convert a part of my HBD to satoshis, directly usable here in El Salvador for our daily purchases.
What I’d like to contribute to is to raise other Hivers’ dispositions in that same direction. For sure, nothing will change in our platform’s use if a State decides to prohibit the Hive and HBD transactions, so let’s « train us » and our whole Community for such an eventuality, boosting and multiplying the HBD use cases to buy products and services on a daily basis, to avoid having to perform a cashout to the USD, the euro or the British pound – that off-ramp being a high vulnerability point ; to grow the vision that something illegal may be extremely legitimate and even more : utterly fair ; to build Hive as a « by design civil disobedience tool », etc.
We know that pillar Hivers, like you @edicted and @taskmaster4450, have been dedicating to that for years now. I’m just wondering which percentage of the « average Hiver » would react to a cryptoban (i.e. all banks cutting off any cashout option, centralized « social » platforms like Facebook, Twitter, etc. deleting all posts including the keyword « Hive », etc.) with the mindset we share, and using the tools we’re aware of.
Let’s go on educating ! :-)
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These were exactly what my thoughts were in regards to general cryptosphere. HIVE among them is one of the best decentralized and most antifragile of cryptocurrencies.
!PIZZA
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Maybe pegged to $1 one day...
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Of Course
We have building our own community and have people from the whole world and we live together as we are a family they can't stop us.
"The best way around regulation is to not even engage in it". 100%, I looove your focus - and Hive's focus as a whole!
In a sense, "Hive is a Haven" for the decentralisation dreamers and doers we are, sticking to the "code is law" promises and unleashing the power of self-regulated Communities and Currencies. A significative number of human beings building harmony and generating incomes sources without being driven by fear & a predatory attitude towards each other is what States most despise.
But beware, let's strengthen our defenses! I have no doubt that to make us fail, the centralized "law enforcement" agencies wouldn't hesitate in seizing the physical nodes/servers of some dozens Witnesses - or to do so with a couple of us, trusting that most others would desist and give up running a Hive full node after the first blows. Some months ago I read an article about how around 15% of the Tor nodes were spied on for BTC transactions - those nodes themselves having quite probably been set up by malicious actors.
Are there plans B & C in such an eventuality?
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Hive is such a dream activating site as it encourages creativity and productive use of initiative and social media. It shouldn't be discourage in the name of regulation.
In a generation of failing economies in most part of the world, creative mind can make tangible means of livelihood from Hive.
Part of the reason is that Hive is under the radar. The loud-mouth coins just paint a target on their backs, whereas low-key coins like Hive just carry on doing whatever they want without authorities even realising what is happening.
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The best part is that HIVE has been battle tested by various attacks and currently we have a greatly decentralized system that is far more antifragile than even BTC. Top 4 mining pools can collude to trigger a 51% attack: https://www.statista.com/statistics/731416/market-share-of-mining-pools
HIVE is much more resilient in this regard. We are also extremely accessible for those without many resources to spend on Tx fees etc.
!PIZZA
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We should thank Justin Sun for being a moron and kick us in the but to "finally decentralize" this and also get rid of Ned, who is clearly an incompetent.
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Summary:
In this video, Task discusses the concept of Hive being outside the reach of government regulation, particularly in light of recent infrastructure bills and increased government scrutiny on cryptocurrencies. He highlights the importance of decentralization and distribution in combating potential government interventions and stresses the advantages of Hive's structure in terms of token distribution and control. Task also mentions Elon Musk's decision to sell a portion of his Tesla stock, emphasizing the significance of decentralization. He finishes by addressing the vulnerabilities of various other cryptocurrencies and the potential impact of regulations on stablecoins.
Detailed Analysis:
Task starts by discussing the infrastructure bill recently passed in the United States Congress and the implications for increasing government tracking and control in the cryptocurrency space. He points out the government's motives for regulating the industry and emphasizes the importance of decentralization in countering these efforts.
The discussion shifts to the classification of cryptocurrencies by regulatory bodies like the SEC and IRS, emphasizing the differing perspectives on whether cryptocurrencies are securities, commodities, or currencies. Task notes the compliance challenges faced by entities entering the cryptocurrency space, particularly venture capital firms and Wall Street institutions.
Task then compares the centralized nature of most cryptocurrencies to Hive's structure, highlighting Hive's decentralized token distribution and global witness nodes. He contrasts this with the concentration of ownership in other cryptocurrencies like Tesla stock held by Elon Musk.
The conversation delves into the vulnerabilities of various cryptocurrencies like Ethereum, Cardano, Tron, and EOS due to their centralized entities and majority stakes held by specific individuals or organizations. Task underlines the regulatory risks facing these centralized entities and contrasts them with the decentralized nature of Hive, making it less susceptible to government interference.
In conclusion, Task stresses the potential regulatory challenges facing stablecoins like Hiveback Dollar and anticipates a wave of regulations targeting centralized entities in the cryptocurrency space. He advocates for a thorough examination of vulnerabilities in blockchain projects to understand the level of decentralization and emphasizes the rarity of truly decentralized systems like Bitcoin and Hive.