The Best Way To Minimize Existential Regulatory Risks To Crypto Is To Put As Many Coins Into The Hands Of As Many People As Possible

I was reading the Finnish language Facebook group for Bitcoin and crypto investors the other day. It's a fun group and I've talked to the people there about Hive and the other chain before our encounter with Justin Sun earlier this year. It actually turned out that one guy had mined the coin of the old chain. The group is fun because there are all kinds of view points represented, also those of the detractors of crypto as a whole.

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One guy brought up regulatory risks hanging over the entire space, pointing out that some governments have outlawed all cryptocurrencies. I already touched upon Russia as the last example of a government that has severely curtailed the use of crypto in another post. I believe that in Russia it has everything to do with cutting off the opposition from its potential sources of funding as completely as possible. It also seems that no Western government has made any moves suggesting that there will be any drastic measures against the space. Not even China has been able or willing to put a complete stop to Bitcoin on its shores despite the fact that Bitcoin is used to bypass capital controls imposed by the Chinese government. That is most likely due to the fact that China's long-term vision is to replace Western-dominated financial legacy infrastructure with its own, the SWIFT interbank money transmission system. SWIFT is a potential financial weapon of mass destruction. Of course, the aims of the Chinese government have nothing to do with true decentralization.

But even existential regulatory risks cannot be discounted. At the very least, governments have the capacity and have demonstrably had the will to make life very difficult for crypto investors withing their particular jurisdictions. To minimize this possibility, it is necessary for the space to expand as rapidly as possible and new tokens to be created and distributed to as many people as possible. Large-scale involvement in blockchain-based gaming or any other applications utilizing NFTs are ways to get people involved without them having to spend money. This is best done if blockchains fade into the background as infrastructure. Enjin has released a new Minecraft plugin called EnjinCraft that allows for in-game assets to be traded on a blockchain. This has potential to get hundreds of millions of people on board quickly.

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