The headlines keep telling the same story. We are seeing more big money players, in whatever form, entering the crypto space. While many feel this is good simply to send their tokens flying, the reality is we might be swapping chairs on the Titanic.
In this video I idscuss how replacing the likes of Twitter and Facebook with centralized entities that wrap in crypto is not achieving any change. People will still be at the mercy of those entities and any freedom hoped to be gained will be lost.
▶️ 3Speak
yeah but there is also another side of the coin:
they are investing heavily into something which doesn't have any more value than what we, users, give it.
tomorrow me, you, and all the small "investors" decide that we don't love BTC anymore, now we love SHIB.
And they are left with some bytes on their hard drives bought for $60k a piece.
(yeah I know it is simplification but imagine BTC devs/network did something horrendous and people started hating it - would you say it has bright future?)
🤔
yeah and shib is going crazy
I told this to my friend just the other day! I mean she's been in bookface jail before lol I gave her a scenario of what if she couldn't access her "tokens" finances!?
I'm still working on her lol one day hopefully🤞
Summary:
In this video, the speaker discusses the current state of the cryptocurrency industry, particularly focusing on the increasing involvement of big money players like Wall Street. He expresses concerns about the industry becoming too centralized and warns against the potential consequences of losing sight of the original decentralized vision of cryptocurrency. The speaker highlights the importance of promoting decentralized applications and advocating for a truly decentralized future in the face of the growing influence of venture capitalists and big tech companies.
Detailed Article:
The video opens with the speaker emphasizing the significant headlines in the cryptocurrency space that reflect the growing influence of big money players, particularly Wall Street. He acknowledges the attraction of big money to the industry due to the potential for significant price movements, but raises concerns about the negative implications of the industry falling entirely into the hands of these players.
The speaker reflects on the evolution of cryptocurrency from its original decentralized vision outlined by Satoshi Nakamoto. He points out the increasing involvement of Wall Street in cryptocurrency mining operations, particularly in Bitcoin mining, following China’s crackdown on mining activities. Additionally, he touches on China's mistaken move to ban cryptocurrencies, labeling it as a "trillion-dollar mistake."
Furthermore, the speaker warns about the dangers of the industry becoming too centralized, noting that the entry of venture capitalists, Wall Street, and tech giants like Elon Musk into the space could jeopardize the foundational principles of decentralization. He expresses concerns about the emergence of centralized entities potentially replacing current social media and financial systems, leading to data control and user enslavement.
The speaker emphasizes the need for the industry to prioritize true decentralized applications over pseudo-decentralized platforms offered by tech giants. He urges industry participants to advocate for decentralization and resist the trend towards centralized control by big tech companies and venture capitalists.
In conclusion, the speaker prompts viewers to consider the long-term implications of the current trajectory of the cryptocurrency industry. He challenges stakeholders to think beyond personal gains and wallets, highlighting the importance of fighting for a decentralized future to avoid a scenario where centralized entities control digital spaces.
Overall, the video serves as a cautionary tale about the risks of industry centralization and the importance of preserving the original decentralized vision of cryptocurrency in the face of increasing involvement from big money players and tech giants.