Being the first generation raised with two working parents, if not a single parent, it's no surprise that socialist ideologies and anti-government movements have become debatable concepts in today's society. Children ruling themselves and exploring the world while their parents worked extra hard to afford that extra shiney bicycle. Self-governance has become some what of a possibility that is no longer out of reach. Or is it?
Now don't get me wrong. Blockchain technology, awesome. Distributed ledger, processing, and storage, awesomer. But what happens when that bully comes along? What happens when the snakes come out of the wood works? Do we stand by and watch Biff kick the shit out of the kid of the day or do we all band together to stop said bully?
In a traditional society, when a bully comes along, you go to the teacher or the principal. In a decentralized society, these such entities don't exist. We have no Securities & Exchange Commission. We have no World Trade Organization. And while most of you see this as a good thing, I don't.
The typical Millennial looks at a cop, looks at the IRS, and looks at the SEC and sees PARENTS! Oooooh the dreaded parent, here to swoop in and put an end to play time. Well this Millennial doesn't see things that way. This Millennial respects law enforcement, pays his crypto taxes, and wishes that all the exchanges would just buckle down and play ball with the SEC.
I mean, do you not realize that the reason why big money institutions haven't thrown their check books into the crypto ring is because of how unpredictable it is? Has the cryptoverse failed to realize that volatility is an indication of instability? Look into the VIX. It's an index that Wall Street uses to gauge market stability. The VIX is an indicator of volatility, and unlike the cryptoverse, Wall Street DOESN'T like it.
Instead, those in the cryptoverse spread FUD to tank the prices of tokens they're looking to purchase (which is an SEC violation if they had oversight) and false hype up their current holdings (also an SEC violation). And while most of you see this and say, "So? This is fast money! Fuck that slow shit!" This is UNSUSTAINABLE! Do you guys know how ridiculous it was that the cryptoverse market cap was ever even close to $700B? Do you even know what a market cap is?
Think of it this way. You go out mining for gold. You collect an ounce of gold. You smelt it down to a gold coin. That one ounce gold coin is worth $1,350 today. Now look back at all the work you did. Working that pick axe, panning down by the river, jerkin' off with crusty hands, smelting gold in a furnace... was all that work worth $1,350? Probably. Now take a step back, look at everything that's going on in the cryptoverse, and I mean everything. All the new data security it's providing, the more efficient method of storing data, the integrity of the data... is all of that worth $700B today? Not... even... close!
Most of the services these companies provide, people don't even use. Do any of you even have a single file stored on Burst? Did you even know Burst was a distributed cloud storage solution? Did you even know there was such thing as hard drive mining? Most of you in the cryptoverse have spent the past few years just looking at numbers go up and go down, and buy and sell.
Ponzie schemes pop up and none of you came together to step forward and shut that organization down. Instead, all I heard was, "If they're stupid enough to fall for a ponzie scheme they probably don't deserve their money." My response to that was, "Do you have any idea how much higher the price of your Ether would be had all that stolen money been legitimately invested in the cryptoverse instead of being blown on Lambo's?
The fact of the matter is, this whole DECENTRALIZED thing was supposed to be of, for, and by the people, but nobody seems to understand that this means that we're supposed to be the one's policing it. Instead, all we've managed to do as an industry was convince all our friends to dump all their money into an exchange so that their leaders can fake being hacked and retire. How many of you even looked into what each of these coins are doing? Did you even know that each coin represents a project? Did you know that the SEC classified these "coins" as a security instead of a currency? Do you know why? It's because corporations issue stock to raise capital to fund special projects, also known as an Initial Public Offering. Sound familiar? IT'S BECAUSE IT IS!!! >.<
I'm upset. I'm upset. Okay. I will close with this. All of you in the cryptoverse better wake up, band together, and really start figuring this out because if you think that any of our governments whether it be the United States, China, or South Korea, is just going to just sit back and let the crypto ponzies and crypto hackers bleed out their national economies, you are naiive beyond belief. They would gladly use their own national equity to repeatedly pump-and-dump you all until you're pregnant.
Take a look around. Take a good look around. Look at all that red. Looks like CoinMarketCap is still celebrating Valentine's Day.
Seriously, get it together. Get good with the SEC, pay your taxes, then maybe... just maybe... the big bad CIA will let us all keep our shiney new toy.
"BUT WE'RE GOING TO THE MOOOOOON!!! \ _ /"
N0! YOU'RE GOING TO DIE! Your industry is going to die! You see all that red up ^there? That's the blood of all your hopes and dreams. That's your financial freedom slowly bleeding out like, "uuuugh... I shouldn't have skipped my taxes. I shouldn't have ignored the SEC. I shouldn't have sucked that guy's dick >.< " Seriously guys, c'mon. Get it together... Please... Please???...