The crypto-sphere is awash with the story of WallStreetBets, Reddit, Hedge Funds, and the White House. We are seeing history play out before our eyes.
Either the establishment is very confident in its position, believing that the masses are truly screwed or they are extremely ignorant of said position.
While things have been growing for a while, the actions taken towards President Trump and his followers took things to another level. Many applauded the clearing out of fat orange man and his angry, racist followers.
Of course, the challenge with censorship is you never know when you will be targeted.
Yesterday, Reddit took the WallStreetBets group and basically eliminated them from existence. I wonder how many people in that group voted for Biden and felt that gat angry man should be shut up.
This, of course, set off a fire storm. At the same time, stocks like GME were getting pumped as a massive short squeeze took place. This got the hedge funds panties in a wad and they went screaming to regulators. Even the White House got involved by saying it was "monitoring the situation".
Today, we see headlines such as this one:
Then we see this about TDAmeritrade.
This no bueno.
The establishment is under attack. There was anger towards Facebook and Twitter, now we see Wall Street in the crosshairs. What is becoming evident is how controlled people are. This is awakening many to the fact that these entities are free to do what they want while everyone has to fall in line.
All the while, Hive is lurking, staging a guerilla attack. It seems, with each passing day, the target market is growing. There are more people being displaced by the establishment. All the while, we keep pushing forward.
Decentralization is what people want, even if they are not aware of it. This is something that Hive is going to provide to millions. Many feel this is outlandish to say about Hive but the numbers are there. For instance, it is reported that 40,000 people join WallStreetBets Telegram group in the last 24 hours.
That is how quickly things can move.
I had a few discussions with people whether Hive can handle an onslaught like that. There are a few challenges. To start, I feel the blockchain will handle the numbers. The recent optimization work increased the load it can bear.
However, onboarding is an issue. We know this. Getting enough accounts could be a problem.
Also, we are looking at the possible backlash attacking the infrastructure. Are we decentralized enough? This is something that requires serious study. If there is an attack zone, they will go after it.
Many feel that we are missing the boat by not pouncing. However, sometimes just lurking for the right moment will lead to success.
The fires are being stoked and things are not going to die down anytime soon. This situation is running deep. It is likely a demographic situation pitting the Millennials, who are the Robinhood/Reddit users against the Baby Boomers who basically control Wall Street. This is running a lot deeper than silencing some groups or market manipulation.
Hive is lurking because we are getting stronger. Each day, we see more advancements towards the end we desire. With the new Leofinance microblogging feature, we will be able to present an application that can offer the speed of Twitter, enabling people who get excited and start pounding out tweets like fat orange man use to do, with the safety of having one's account protected and content not censored.
What this will provide is a tremendous door for onboarding users. We will see a feeder system being established. This is an application which will have little to no learning curve. Yet, it will also allow the ecosystem to expose people to other benefits such as an uncensored community.
When thinking of the long game, sometimes a few weeks can make an extreme difference. I expect things will continue to escalate over that time. Do not be surprised if Twitter starts hitting their censor button again. They proved repeatedly where they stand on the free speech debate.
Hive might not be totally decentralized but we are a lot further along than many other blockchains/projects. With a second layer that is starting to take shape, there is a lot to be offered to the censored world. Since that market is only growing by the day, the potential for Hive, in totality, only increases.
Throughout 2021, we are going to see more people awaken to what is taking place in the centralized world. In my view, the hand is being overplayed. If the establishment is that confident in their position, that might be their undoing.
Speed and agility are the keys. No matter which layer you look at, they operate at an established pace. Those who are on the other side of this equation, can move much faster.
My optimism about the future of Hive keeps growing. These are the "magic moments" we were waiting for. The world is starting to understand and see what we discussed for years. During that time, few listened.
I am confident that we will see an enormous transition in the Hive ecosystem over the next few months. Leofinance's app is just the first step. This will likely be followed up by 3Speak's decentralized video and image storage. Can you imagine how appealing that will be? Certainly, we can count on YouTube getting involved in the fun at some point and start deleting accounts.
It is all starting to come together.
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