Crypto exchanges froze Canadian funds, they froze Russian funds, stablecoins can be frozen in any wallet and transactions can be reverted, banks are freezing assets, you can’t sell or buy Russian stocks. Sound crypto is a must.
This is my 511th episode/article. I put a great deal of work into this content so if you find it valuable, please do like, share, comment and subscribe!
Crypto exchanges froze Canadians’ funds under emergency orders, banks froze accounts, and bitcoin was blacklisted from centralized exchanges.
Stablecoins aren’t safe because with something like USDT or USDC, we don’t know how accurate their backing is and what’s worse is that it’s more centralized than the banking system where they can easily freeze your funds even in a decentralized wallet and revert transactions.
Banks and stock exchanges are preventing you from trading Russian stocks. Not only are they telling you what you are allowed to invest in, but you also cannot sell your stocks that you had already invested in and are basically forced into losing everything by these institutions.
Exchanges were being demanded to also ban all Russian civilians crypto accounts by the Ukraine Vice Prime Minister:
Almost all exchanges unilaterally said no as he actually suggested that exchanges should sabotage ordinary users. The major concern is that US and western governments could put out legal orders to make this happen and exchanges would have to comply.
Binance however agreed to go after specific users like politicians etc.
Here is an article covering this: https://sanfranciscotribe.com/Home/crypto-exchange-sanctions-exchanges-refuse-to-comply/
https://www.yahoo.com/news/binance-crypto-exchange-refuses-to-freeze-russian-accounts-080546197.html
https://www.cityam.com/crypto-exchanges-refuse-to-ban-russian-users-as-rouble-trading-surges/
Consider this, not having access to your money is more or less fraud or a scam. So these companies that have sanctioned Russian users are basically scamming them. In any other instance, having your access to funds taken away would be a clear scam like Squid game token.
How important is decentralization to you? Do you think it’s under attack? Where do you think we will be in 5 years? What are you doing to stay ahead of the curve? Let me know what you think about this in the comments below and don’t forget to subscribe!
Disclaimer: This is not financial advice and is purely for entertainment purposes. What you see, hear, or read is my personal opinion, and any statements made are based on my views and should not be misconstrued as fact. My crypto portfolio may or may not be simulated
👥 Support Me & Follow Me Elsewhere 👥
👉 http://www.scottcbusiness.com
Ask questions in my Telegram: https://t.me/cryptoandthings
You can find all my cryptocurrency addresses on https://cointr.ee/scottcbusiness
You can find all of my referral links here: https://linktr.ee/scottcbusiness
▶️ 3Speak
oneway or another decentralization will be the future 🚀
I totally agree, gotta invest in Hive and projects like Thorchain to show my resolve
I don’t know Thirchain well, thanks for mention it. I will explore
Happy to share
in the next 5 years we will talk more and more about decentralization
Absolutely!
the war that is now coming to Europe is also showing how important it is to have decentralized information. And this we can only have through the blockchain
Agreed!
Gonna watch this after work today!
!LOLZ !hivebits
lolztoken.com
Subterfudge.
Credit: reddit
@scottcbusiness, I sent you an $LOLZ on behalf of @anderssinho
Use the !LOL or !LOLZ command to share a joke and an $LOLZ. (1/1)
Thanks for tuning in!
Centralized power hates decentralization! No shocker here! :) The people with the power and control do not want to lose it.
It will be interesting to watch the battle play out.
Posted Using LeoFinance Beta
Yeah that's for sure!
The word is outrageous. Canada is a scam. What about Binance chain? I don't know it is centralized. Is that even decentralized? We have forks of Steem apart from Hive: Golos, Blurt, Whaleshares, and then there are these which are not forks but similar to Hive like: LBRY PokenCoin (Bastyon), Zion.
#1hem
Then there is an issue that we have a handful of RPC nodes as an interface for the APIs that Hive Apps run on which just means those who run websites should run their own 'full HIVE nodes'. I am upgrading my website with other software patches. Getting my own Hived running might not be a bad idea..
Binance is very centralized. That would be cool, I'd check out your Hive interface
Congratulations @scottcbusiness! You have completed the following achievement on the Hive blockchain and have been rewarded with new badge(s):
Your next target is to reach 64000 upvotes.
You can view your badges on your board and compare yourself to others in the Ranking
If you no longer want to receive notifications, reply to this comment with the word
STOPCheck out the last post from @hivebuzz:
Support the HiveBuzz project. Vote for our proposal!