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.
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
Thanks for the compliment, and thank you very much for your comments, as decentralize finance becomes more prominent in the world, yes it will draw more attackers to it, but unfortunately that's inescapable considering that unscrupulous people have always gravitated towards industries with significant amounts of money to be stolen, this is a undeniable part of success unfortunately, but with the ability to remove the middleman that exists uniquely within decentralized finance, much of this can be mitigated, thank you very much for your comment.
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!
Indeed, the future is crypto, and if governments of the world, learn to be friendly to crypto industry, they can benefit greatly from it, in the same way that El Salvador is today, governments will have to learn to understand that they no longer have all the cards, and will have to learn to play fair if they wish to benefit from this crypto revolution, time will tell the story, thank you very much for your comment.
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.
All excellent points, specially your analogy about opposing money when it was first invented, it's almost like they’re stuck in time, and there still trying to hold onto any resemblance of control they still think they have, normally it would not be an issue if they did not hold significant amounts of power to be troublesome, but as the article stated obviously there are some in government that are starting to understand, that crypto is going to be the next generation of economically powerful companies, and these wise politicians are beginning to hedge their bets, ultimately time will tell the story, thank you very much for your common.
I definitely agree with you there, if governments of the world truly wish to benefit from crypto, the most advantageous move they have before them, is to ultimately help facilitate the acceptance of the crypto industry, rather than trying to get in a way in hinder it, because crypto is at a point where it can no longer be stopped. So, at this point it would be wiser of them to simply, create a regulatory atmosphere in which crypto businesses can grow, and help create the great crypto tech industrial revolution, only time will tell the story.
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.
Well said, governments will have to learn to understand the differences between traditional finance and crypto finance, if they do not they will ultimately be left behind by other governments, governments of the world will have to understand, they are in competition with each other now, in the future crypto companies of the world, will likely go where they're treated best, every government should want crypto companies within their jurisdictions, crypto companies will be very beneficial as a stable source of employment as well as taxes that do not depend on the local economy, but if they are unfair and tax to much, these companies will just simply pick up and leave, time will tell the story.
Crypto tax will be really high. At least that's my idea. If that happens, we have to find an escape route. We will also find a solution with Blockchain.
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 !!
You bring up some good points, government only ever seems interested in the citizen, when it's taxes or not being properly paid, or it feels it possibly has the ability to get more. Decentralized finance will remove a lot of the middlemen from a lot of areas, especially in the financial world, and as a result of that I believe it will be a net positive for creating freer and fairer experiences for future customers and users of these future platforms, only time will tell.
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 very much for sharing, this is very good information, in strongly showcases why EOS is superior to many of its competitors, blockchains are going to have to learn that they no longer have the option to not worry about the energy consumption issues of their consensus models, as the world grows increasingly more conservationist low energy consumption will be increasingly more attractive for many people, who not only are concerned about financial freedom, but also the moral implications of obtaining that financial freedom through clean energy usage, the wise are often shown to be right, given enough time, and this was most certainly the case with EOS main-net, thank you very much for your comment.
Yes, there are many people who care about the use of clean energy. This isn't just about bitcoin. The energy used by Bitcoin already uses one percent of the energy used by the banks that serve.
There is eos on it, which is even better than that, but I guess people are not aware of it. I hope we will be a little more on the agenda and stand out in other projects that solve the shortcomings of bitcoin.
Eos is really good at energy. When will they appreciate it? Although the problem of bitcoin was on the agenda, no one looked at the projects that had a solution. Interesting.
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.
Good analogies, yes crypto is no longer a small rock, it's becoming a great big mountain, and the more time passes, it may become the metaphorical unmovable object, governments of the world will just simply have to learn, now individuals have options, with the invention of the Internet, this connected people from all over the globe worldwide, this was only the first step, now the most significant invention of the Internet is here, decentralized stateless, and borderless money and assets, are here. And governments would no longer have the freedom to plunder their citizens without their consent anymore, times have changed, and if governments of the world want to benefit from this change, they will have to adapt accordingly, thank you very much for your comment.
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.
Well said, decentralized finance will be the future of the financial global markets, this is only a matter of time, and EOS will lead the charge, high transaction throughput, highly adoptable, and really low fees, makes EOS undeniably the most logical choice in this space currently, go EOS!
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.
It very well could, be restricted if it does fall under complete state control, but I don't think it will, they actually have more to lose by being too draconian, because crypto companies can easily pick up and leave, to more open jurisdictions, so they're gonna have to play nice if they want to benefit from the crypto industries of the world, until there is a collective world government. They are in competition with each other, and ultimately, they will have to learn to play nice if they want to benefit from this crypto financial revolution, thank you very much for your comment.
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!
Good observation, yes there will be some rough patches likely ahead, but I am also just assured that there will be significant resistance by the crypto industry at large, and typical politicians are of a mind to follow the path of least resistance, if we become too much trouble for them to plunder easily, they will have no choice but to treat us fairly, time will tell the story, thank you very much for your comment.
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.
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
Thanks for the compliment, and thank you very much for your comments, as decentralize finance becomes more prominent in the world, yes it will draw more attackers to it, but unfortunately that's inescapable considering that unscrupulous people have always gravitated towards industries with significant amounts of money to be stolen, this is a undeniable part of success unfortunately, but with the ability to remove the middleman that exists uniquely within decentralized finance, much of this can be mitigated, thank you very much for your comment.
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!
Indeed, the future is crypto, and if governments of the world, learn to be friendly to crypto industry, they can benefit greatly from it, in the same way that El Salvador is today, governments will have to learn to understand that they no longer have all the cards, and will have to learn to play fair if they wish to benefit from this crypto revolution, time will tell the story, thank you very much for your comment.
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.
All excellent points, specially your analogy about opposing money when it was first invented, it's almost like they’re stuck in time, and there still trying to hold onto any resemblance of control they still think they have, normally it would not be an issue if they did not hold significant amounts of power to be troublesome, but as the article stated obviously there are some in government that are starting to understand, that crypto is going to be the next generation of economically powerful companies, and these wise politicians are beginning to hedge their bets, ultimately time will tell the story, thank you very much for your common.
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.
I definitely agree with you there, if governments of the world truly wish to benefit from crypto, the most advantageous move they have before them, is to ultimately help facilitate the acceptance of the crypto industry, rather than trying to get in a way in hinder it, because crypto is at a point where it can no longer be stopped. So, at this point it would be wiser of them to simply, create a regulatory atmosphere in which crypto businesses can grow, and help create the great crypto tech industrial revolution, only time will tell the story.
those days are not far dude.
Neither the Strongest Species Survive, Nor the Most Intelligent... The Most Adaptable to Change Survives.
States will have to adapt.
And then I really want to say that they adapted.
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.
Well said, governments will have to learn to understand the differences between traditional finance and crypto finance, if they do not they will ultimately be left behind by other governments, governments of the world will have to understand, they are in competition with each other now, in the future crypto companies of the world, will likely go where they're treated best, every government should want crypto companies within their jurisdictions, crypto companies will be very beneficial as a stable source of employment as well as taxes that do not depend on the local economy, but if they are unfair and tax to much, these companies will just simply pick up and leave, time will tell the story.
Crypto tax will be really high. At least that's my idea. If that happens, we have to find an escape route. We will also find a solution with Blockchain.
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 !!
You bring up some good points, government only ever seems interested in the citizen, when it's taxes or not being properly paid, or it feels it possibly has the ability to get more. Decentralized finance will remove a lot of the middlemen from a lot of areas, especially in the financial world, and as a result of that I believe it will be a net positive for creating freer and fairer experiences for future customers and users of these future platforms, only time will tell.
Thanks 😊
Love your Articles 😁
defi may have lost its popularity, but we agree, as bitcoin rises, defi projects will reach their former popularity.
Yaa 100% agree with that
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.
Thank you very much for sharing, this is very good information, in strongly showcases why EOS is superior to many of its competitors, blockchains are going to have to learn that they no longer have the option to not worry about the energy consumption issues of their consensus models, as the world grows increasingly more conservationist low energy consumption will be increasingly more attractive for many people, who not only are concerned about financial freedom, but also the moral implications of obtaining that financial freedom through clean energy usage, the wise are often shown to be right, given enough time, and this was most certainly the case with EOS main-net, thank you very much for your comment.
Yes, there are many people who care about the use of clean energy. This isn't just about bitcoin. The energy used by Bitcoin already uses one percent of the energy used by the banks that serve.
There is eos on it, which is even better than that, but I guess people are not aware of it. I hope we will be a little more on the agenda and stand out in other projects that solve the shortcomings of bitcoin.
Eos is really good at energy. When will they appreciate it? Although the problem of bitcoin was on the agenda, no one looked at the projects that had a solution. Interesting.
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.
Good analogies, yes crypto is no longer a small rock, it's becoming a great big mountain, and the more time passes, it may become the metaphorical unmovable object, governments of the world will just simply have to learn, now individuals have options, with the invention of the Internet, this connected people from all over the globe worldwide, this was only the first step, now the most significant invention of the Internet is here, decentralized stateless, and borderless money and assets, are here. And governments would no longer have the freedom to plunder their citizens without their consent anymore, times have changed, and if governments of the world want to benefit from this change, they will have to adapt accordingly, thank you very much for your comment.
I say this because we live in the same country as Yasir. There are really high taxes on everything in the country. our only hope is crypto
I hope there's no harsh intervention like the news. Or we'll lose our only hope. Actually, we'll find a solution. We must do.
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.
Well said, decentralized finance will be the future of the financial global markets, this is only a matter of time, and EOS will lead the charge, high transaction throughput, highly adoptable, and really low fees, makes EOS undeniably the most logical choice in this space currently, go EOS!
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.
It very well could, be restricted if it does fall under complete state control, but I don't think it will, they actually have more to lose by being too draconian, because crypto companies can easily pick up and leave, to more open jurisdictions, so they're gonna have to play nice if they want to benefit from the crypto industries of the world, until there is a collective world government. They are in competition with each other, and ultimately, they will have to learn to play nice if they want to benefit from this crypto financial revolution, thank you very much for your comment.
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!
Good observation, yes there will be some rough patches likely ahead, but I am also just assured that there will be significant resistance by the crypto industry at large, and typical politicians are of a mind to follow the path of least resistance, if we become too much trouble for them to plunder easily, they will have no choice but to treat us fairly, time will tell the story, thank you very much for your comment.
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.
I read it like a motivational speech. I took courage. I want to go and find the person responsible for the economy :D
Yes, I may be a little too excited.
This article should be framed and hung in schools. People like this are the cause of all the problems in the world.
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.