For those of you that are unaware, recently the United States government passed a draconian measure in Washington DC, that seeks to go after the cryptocurrency industry, to increase tax revenue to help pay for the governments new $1 trillion infrastructure plan. In this video we will go over, a recent article I read called “The crypto crowd gets loud and proud on Capitol Hill” and I will be giving you my opinion on, what I believe this means for EOS in the greater crypto industry at large, source links will be in the description below, OK now let's get started.
Governments mostly see crypto currencies as easy money making investment channels that make people rich, in some extend they are right but it's not the overall purpose of crypto. Even reading such comments and commitments make me sick. What all we want is nothing but economical freedom, moreover freedom overall. I believe that in future we will rule the ones who are trying to rule us now.
In terms of DeFi, I think centralized markets are the priority for people now, at least that's how I got in touch with crypto. They are the first step to get involve, afterwards decentralized markets step up. As you stated DeFis cannot be stated as brokers, and their promise is the main promise of Bitcoin as it emerged in the beginning of last decade. In my opinion DeFis will bring the golden age to blockchain ecosystems. For that, people should make a broader search before starting their journey and initiate themselves on DeFi platforms. This wouldn't be hard to accomplish once educational stuff for crypto comes in.
Nowadays DeFis are vulnerable to flash loan or any kind of hacking attacks, centralized markets are vulnerable too, however I think the decentralization makes DeFis the target. Indeed, it will get better in future where such attacks will be easily prevented.
I like your articles, you are my second favourite android after Finney. Thanks and go EOS! haha
I don't think there is such a thing as destroying crypto. Those days are in the past. Crypto has to be accepted and supported. We see different developments of different projects every day and we will continue.
It's getting stronger every day. It is no longer possible to destroy. Hopefully, more and more governments like El Salvador are adopting crypto policies. The future is in crypto!
I find it pointless to stand against crypto. It's like opposing money when it was first invented. What Crypto has accomplished is obvious. They envy the achievements of such a free system. What needs to be done is to create policies in favor of crypto. Any government that is late will regret it.
tax, tax, tax. Whenever the state needs money, the way it resorts is always taxes. This is even more so in underdeveloped countries.
Even they are not enough they are trying to tax crypto and they will soon start to do so.
But we do not sit idly by and wait. we are all working to improve crypto, if this order is to change, only bitcoin can do it.
The point crypto has reached now is clear. It has a greater financial power than most countries in the world. If you were the head of state, would you oppose crypto or support crypto and develop together?
I'm having trouble understanding the states, but one thing I'm sure of, bitcoin has grown so much it's almost impossible to destroy it.
Government always come fronts to take taxes but where are they when the citizens need them the most and they just have one reason for failing of economy of any country and that is taxes were not paid by every citizen or some other issues related to low collection of taxes . why don't they accept that they can't make a better plan rather than collecting taxes from the citizens of the country
and Talking about Defi crypto is all about freedom and if it's centralized what's the meaning of it and in 2020 we saw a sudden rise in Defi Projects and the coins and i believe that Defi Times will come back soon cause it has a great potential.
The time is near when we have to pay taxes to breathe in the Country :)
It's the time you can stop it just be the part of the revolution !!
EOS is far ahead of its competitors in speed, flexibility and low transaction fees, and most importantly in energy usage.
After some research, I was able to get more information.
For example, bitcoin
It has a blockchain using Proof of Work (PoW).
You can see that there is a big difference between blockchains using Proof-of-Work and other blockchains.
Let's take a look at what an average energy use is in a few blockchains:
Bitcoin: 707 KWh (PoW)
Ethereum: 63 KWh (PoW) (for now)
Litecoin: 19 kWh (PoW)
Cardano: 0.55 kWh (PoS)
EOS: 0.011 KWh (dPoS)
Non-PoW blockchains typically require much less than 1 KWh per transaction.
Developed by Dan Larimer, the former CTO of EOS in 2014, the DPoS mechanism is currently used by many crypto money projects such as EOS, Cardano, Bitshares, Steem, TRON, Ark and Lisk.
The Proof of Stake (PoS) mechanism was created as an alternative to PoW. Users selected as validators are responsible for network security and verification of transactions, in exchange for the cryptocurrencies they stake. This consensus mechanism reduces reliance on external resources and significantly increases scalability.
DPoS mechanism also developed and used by EOS
It works similarly to PoS, except that the voting and validator selection process is more democratic.
As you can see, EOS's competitors are far behind in this area.
I understand the States concern. People can't make money if they don't pay taxes.
At least half of everything you get in the country where I live is tax. We can't breathe from the tax.
Crypto relaxes us. I have to hug more than anyone else.
There will be no lost money like before. Can't be found or out of a shoebox. I'm sorry, I got into politics a little bit. But I'd say it's a little sensitive. I mean, I can write about it for pages, get it out of my head.
Again, the states are afraid. But if they make the wrong moves to prevent it, they will have problems.
Because, as you said, crypto is no longer small. It's never a balloon. It's a hard rock or a mountain now.
Wrong moves hit the mountain steeply, causing it to break or explode.
Both sides will be satisfied if a shaping is done as much as the mountain allows. I hope these are paid attention.
Defi is our salvation, EOS is our strongest weapon, no matter how much they try to centralize, they will not succeed. The Crypto industry is increasingly decentralized and they will not be able to prevent it.
Governments are doing some work to make crypto more secure. Or he's trying to do. States only care about their own interests. There are very few states that work for their people. They say we'll make the crypto secure. Crypto is already a safe space. All you have to do is Be careful and be knowledgeable. If you're going to deal with crypto, you should definitely know. After you do that, you don't need anyone's protection. But states are trying to tax crypto to make money. Crypto is a very free space, and I think that freedom will be restricted if it falls under the protection of the state.
I think your comments that the governments are starting to take it seriously are of great concern. It seems there will be some very rough patches coming, and hopefully, everyone has the stamina needed to survive the bumps!
You put obstacles in the way of something you can't escape. But these obstacles are a waste of time, we are in the age of technology and we are defending our rights.
Now is the time to put a stop to centralization and unnecessary taxes.
Individuals, institutions and states with these reactionary ideas should be excluded and not approved.
The time has come for humans to respond to the obvious calls for technological evolution.
EOS is already superior to many of its competitors, but people who can't leave their habits can't see it, I hope they realize it as soon as possible and investigate.
We must put a stop to unnecessary taxes and follow the technological steps taken for the future.
Crypto Fights back against Government Overreach, why DE-Fi Blockchains like EOS Matter.
Governments mostly see crypto currencies as easy money making investment channels that make people rich, in some extend they are right but it's not the overall purpose of crypto. Even reading such comments and commitments make me sick. What all we want is nothing but economical freedom, moreover freedom overall. I believe that in future we will rule the ones who are trying to rule us now.
In terms of DeFi, I think centralized markets are the priority for people now, at least that's how I got in touch with crypto. They are the first step to get involve, afterwards decentralized markets step up. As you stated DeFis cannot be stated as brokers, and their promise is the main promise of Bitcoin as it emerged in the beginning of last decade. In my opinion DeFis will bring the golden age to blockchain ecosystems. For that, people should make a broader search before starting their journey and initiate themselves on DeFi platforms. This wouldn't be hard to accomplish once educational stuff for crypto comes in.
Nowadays DeFis are vulnerable to flash loan or any kind of hacking attacks, centralized markets are vulnerable too, however I think the decentralization makes DeFis the target. Indeed, it will get better in future where such attacks will be easily prevented.
I like your articles, you are my second favourite android after Finney. Thanks and go EOS! haha
I don't think there is such a thing as destroying crypto. Those days are in the past. Crypto has to be accepted and supported. We see different developments of different projects every day and we will continue.
It's getting stronger every day. It is no longer possible to destroy. Hopefully, more and more governments like El Salvador are adopting crypto policies. The future is in crypto!
I find it pointless to stand against crypto. It's like opposing money when it was first invented. What Crypto has accomplished is obvious. They envy the achievements of such a free system. What needs to be done is to create policies in favor of crypto. Any government that is late will regret it.
Thank you for the article.
I find it ridiculous that governments tax people every time in the name of fixing the economy.
They tax people because this is the government's easiest way of making money.
States are seeking to tax almost everything, and they are doing so.
Anyone can understand that investing in the crypto world is a serious amount.
I think governments should now fully support Blockchain.
As you said, Crypto has now reached an unstoppable power.
The whole world is in this business.
I wish that crypto is not manipulated and developed in a way that will benefit humanity.
All states should set up their own crypto-government bodies.
tax, tax, tax. Whenever the state needs money, the way it resorts is always taxes. This is even more so in underdeveloped countries.
Even they are not enough they are trying to tax crypto and they will soon start to do so.
But we do not sit idly by and wait. we are all working to improve crypto, if this order is to change, only bitcoin can do it.
The point crypto has reached now is clear. It has a greater financial power than most countries in the world. If you were the head of state, would you oppose crypto or support crypto and develop together?
I'm having trouble understanding the states, but one thing I'm sure of, bitcoin has grown so much it's almost impossible to destroy it.
Government always come fronts to take taxes but where are they when the citizens need them the most and they just have one reason for failing of economy of any country and that is taxes were not paid by every citizen or some other issues related to low collection of taxes . why don't they accept that they can't make a better plan rather than collecting taxes from the citizens of the country
and Talking about Defi crypto is all about freedom and if it's centralized what's the meaning of it and in 2020 we saw a sudden rise in Defi Projects and the coins and i believe that Defi Times will come back soon cause it has a great potential.
The time is near when we have to pay taxes to breathe in the Country :)
It's the time you can stop it just be the part of the revolution !!
EOS is far ahead of its competitors in speed, flexibility and low transaction fees, and most importantly in energy usage.
After some research, I was able to get more information.
For example, bitcoin
It has a blockchain using Proof of Work (PoW).
You can see that there is a big difference between blockchains using Proof-of-Work and other blockchains.
Let's take a look at what an average energy use is in a few blockchains:
Bitcoin: 707 KWh (PoW)
Ethereum: 63 KWh (PoW) (for now)
Litecoin: 19 kWh (PoW)
Cardano: 0.55 kWh (PoS)
EOS: 0.011 KWh (dPoS)
Non-PoW blockchains typically require much less than 1 KWh per transaction.
Developed by Dan Larimer, the former CTO of EOS in 2014, the DPoS mechanism is currently used by many crypto money projects such as EOS, Cardano, Bitshares, Steem, TRON, Ark and Lisk.
The Proof of Stake (PoS) mechanism was created as an alternative to PoW. Users selected as validators are responsible for network security and verification of transactions, in exchange for the cryptocurrencies they stake. This consensus mechanism reduces reliance on external resources and significantly increases scalability.
DPoS mechanism also developed and used by EOS
It works similarly to PoS, except that the voting and validator selection process is more democratic.
As you can see, EOS's competitors are far behind in this area.
Thank you for reading. I wish you a good day.
I understand the States concern. People can't make money if they don't pay taxes.
At least half of everything you get in the country where I live is tax. We can't breathe from the tax.
Crypto relaxes us. I have to hug more than anyone else.
There will be no lost money like before. Can't be found or out of a shoebox. I'm sorry, I got into politics a little bit. But I'd say it's a little sensitive. I mean, I can write about it for pages, get it out of my head.
Again, the states are afraid. But if they make the wrong moves to prevent it, they will have problems.
Because, as you said, crypto is no longer small. It's never a balloon. It's a hard rock or a mountain now.
Wrong moves hit the mountain steeply, causing it to break or explode.
Both sides will be satisfied if a shaping is done as much as the mountain allows. I hope these are paid attention.
Thank you very much for the article.
Have a nice day.
Defi is our salvation, EOS is our strongest weapon, no matter how much they try to centralize, they will not succeed. The Crypto industry is increasingly decentralized and they will not be able to prevent it.
Thanks for the article.
Making crypto more secure."
Governments are doing some work to make crypto more secure. Or he's trying to do. States only care about their own interests. There are very few states that work for their people. They say we'll make the crypto secure. Crypto is already a safe space. All you have to do is Be careful and be knowledgeable. If you're going to deal with crypto, you should definitely know. After you do that, you don't need anyone's protection. But states are trying to tax crypto to make money. Crypto is a very free space, and I think that freedom will be restricted if it falls under the protection of the state.
Thanks for the nice post.
I think your comments that the governments are starting to take it seriously are of great concern. It seems there will be some very rough patches coming, and hopefully, everyone has the stamina needed to survive the bumps!
There are always those who oppose everything good.
those who don't want democracy
those who try to restrict freedom
those who adopt autocratic governments
those who oppose women's rights
those who do not want to see or accept human rights
those who do not respect nature
They cut down trees and destroy the forest. They are digging mines.
this list goes on and on.
So what is the reference point of those on this list?
their interests. they are profit seekers. they are profiteers. They support exploitation. they only think about themselves.
You can see these people everywhere.
but their swamp is politics.
You can see them all together there.
As a result, the crypto ecosystem, the crypto technology is unstoppable.
they will either keep up or get lost in the dusty pages of history.
We will continue to embrace crypto technology for a fairer, more democratic future.
Thanks for your great article.
You put obstacles in the way of something you can't escape. But these obstacles are a waste of time, we are in the age of technology and we are defending our rights.
Now is the time to put a stop to centralization and unnecessary taxes.
Individuals, institutions and states with these reactionary ideas should be excluded and not approved.
The time has come for humans to respond to the obvious calls for technological evolution.
Thanks for the article.
EOS is already superior to many of its competitors, but people who can't leave their habits can't see it, I hope they realize it as soon as possible and investigate.
We must put a stop to unnecessary taxes and follow the technological steps taken for the future.