We live in a strange world, where human rights started to sound more like shallow slogans than something substantial you can rely on.
What I see is that society is moving quickly toward a model we are starting to distinguish clearer by the day, which has almost always been top-down.
All the way at the top, a few that control pretty much everything. We will never be aware of how much control they have. Conspiracy theorists may be right sometimes, while on other occasions they help build the statues of those few bigger than it is the case, maybe even giving them ideas.
At the next lower level, we find the agents of influence of those few. They may be in governments, agencies, companies, or private individuals with considerable influence. Some are in this category unwillingly, others do it by choice and likely receive benefits, while there is also the category of useful and trustful fouls, who do it by conviction, without realizing they are being used.
There is almost no middle class anymore, which looks like someone's plan, not because it naturally happened. The middle class has the insolence of having pretty much all they need and is harder to control. Who needs that, right?
Then we have the majority, many of whom are poor. They can be dangerous, most likely for the agents of influence and not for the few in control, if they find a way to ask for their rights in an organized form. Unfortunately for them, that rarely happens, and when it does, they often get manipulated, their leaders get bought, and give up before receiving anything substantial.
The fiat system is all about the hierarchy above.
Then crypto appeared and started to shift things a bit. Not entirely, because we still have rich and poor in crypto too. But the rich in crypto may have been poor in fiat at first. And many who have been around in crypto for a few cycles and haven't made terrible mistakes should probably be at least in the middle class by now, in societal terms. So there is a way to grow back that middle class, perhaps despite those who want to see it gone or reduced.
The powerful of the world woke up relatively late to the threat crypto was for the infrastructure they built for control (mostly the financial system based on fiat, banks, central banks, stock exchanges, Forex, etc.). Thus we see now and have seen for a while all sorts of strategies to bring as much of crypto control in their hands and attempt to demolish what they can't have. And it's working for the most part.
We will have the majority of crypto (not just CEXes) bend to their will, sooner or later. We will have a minority of the crypto space say "This doesn't represent us!" and remain censorship-resistant and decentralized, despite the likely pressures. And we will have the "f*ck you!" solutions they will hate and will attempt to isolate and demonize. This is where the world's most powerful few will likely fail, the harder they try. But until then, these solutions or people associated with them publicly will have a hard time...
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I think it is going to be a constant tug of war. As soon as one crypto solution becomes popular, I expect those that can't control it to try and do something to do so. I think that is why we need to make sure that Web3 offers better products and services than what is available in Web2, so we can get more users.
Yes, that's what will likely happen, until we have a change in perspective at a massive scale and people will seek Web3 products instead of Web2, and understand their power. What I'm afraid will happen though, is that people will settle with small increments (Web2.5), which will present themselves as Web3 (or even higher, lol), but retain full control, which will be to the liking of those who run the world.
The rich won't have it their way in crypto. We the majority will have our stand established. The elite few will fail to dominate here.
The rich already have it their way in crypto. 😀 It was only "crypto rich" instead of "fiat rich". Now the "fiat rich" want to take over big chunks of the new toys because they are better than theirs. Some of the "crypto rich" are in the way and get pulled over.
I think having a way to grow back the middle class through crypto is a really good thing and this can happen on a global level which reduces some of the dependency or reliance on Tradfi system. I agree that the powerful of the world were relatively late in realizing the threat that crypto can pose, the boat has already left and there's no way of stopping it now :)
And to think that growing wealth through crypto is not even its primary benefit. The number of sectors and industries crypto can affect through tokenization is incredible. It has also started to influence the way TradFi operates. I hear there are talks of extending the schedule of trading hours for stock exchanges to 24/7 and no holidays. I don't know how serious these talks are, but we know where they might've gotten that idea from. Not from Forex, because that was around for a long time, and they didn't bother changing.
The boats can't be stopped now, but wouldn't it be something if they were at the helm of some of the important ones, after all this time where crypto was "the alternative"?
Exactly, in many ways, the underdog has become the top now. Crypto's innovative and rediscovery ability is probably what they're trying to use to face lift the Tradfi system, so to speak.
Right! I think that's a likely possibility, they're already vying to be at the helm of the important ones, becoming the captain of them. In some ways, I think this would work only for awhile, because the community aspects of these projects will not accept a new and perhaps, foreign captain.
Hopefully. It was the people in the crypto space who almost begged Wall Street to get involved... To get their bags pumped, as it is said. For many, it's all that matters.
It's going to be tough but I don't think we can do much about the CEX. They have to play by the rules but I do think that just having the option to avoid the system to an extent does help. I do hope that web3 and decentralization wins out in the end.
Oh yeah, CEXes are pretty much conquered already. But they don't settle with that. They want control over Bitcoin (in various ways), and some of its forks are even easier targets because of the centralization, Ethereum and the EVMs are next but they haven't focused on them much yet, Solana is another ideal target, with the kind of centralization and the heavy nodes it has (and I've seen it promoted by Wall Street guys, besides BTC and ETH, which is a sign), and so on.
So sad and very true... The middle class is a danger to the ones who want all the control, so make them all poor. Fortunately crypto is the solution to protect us in the not rich class!
Yep. Let's hope we are smart enough to not hand over to them the keys to what protects us.
I agree with you but i dont think crypto will give much freedom, whos in the top is not scared of crypto
For a control freak, anything they can't fully control is scary. Otherwise, I don't believe any one of them will be dethroned by someone (who started) in crypto any time soon. When we talk about hundred(s) of trillions of market cap potential for crypto in ten years, that's not something to ignore, even by the all-mighty.
Who are the majority of crypto?
Commoners who’ve got cryptocurrencies or people like Elon?
No... I didn't mean people, although they come in the package if they keep using the projects that decide that going against the tide is not in their best interest.
Rich people will often be placed in a different category if they comply, and they don't need to be set as examples. And that applies to crypto as well.
Hello, @gadrian. I love the last paragraph! "
We will have the majority of crypto (not just CEXes) bend to their will, sooner or later. We will have a minority of the crypto space say "This doesn't represent us!" and remain censorship-resistant and decentralized, despite the likely pressures. And we will have the "f*ck you!" solutions they will hate and will attempt to isolate and demonize. This is where the world's most powerful few will likely fail, the harder they try. But until then, these solutions or people associated with them publicly will have a hard time..."
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Crypto is good for some people and not for others it is a fact that this market is very volatile so only big hearted people should invest in it.