Mainstream crypto adoption is here!
We may be late to the party, but let there be no doubt – cryptocurrencies are deeply embedded in today's financial systems.
Banks might have their sinister sides, but they're certainly not ignorant, much like the powerhouse governments across the globe.
Does anyone recall when we imagined cryptos to be the money of the future?
Well, today, they've firmly positioned themselves as such. Sadly, it's not the everyday consumer making use of them; it's the giants of finance, and this is becoming more of a trend.
The dream of decentralized money for the public has perished. Self-interest and indifference were the culprits. Yet, the philosophy behind decentralization is very much alive. A new era of financial dominion is on the horizon!
Money Center Validators
The future might reveal that decentralized currency isn't as decentralized as it seems.
A new policy stance in the US will allow banks It's entirely possible for banks to begin acting as blockchain validators. While not legislated, theoretically, they could begin operating nodes anytime.
U.S. money center banks are intricately tied to the Federal Reserve system – the variety of configurations these collaborations could take is boundless.
Most investors are in the crypto scene primarily for returns in traditional currency – thus, the threat to decentralized transactions seems marginal for now. However, with major banks acting as validators, new challenges could surface.
At this point, all of this is speculative. But it could become a brilliant strategy for data aggregation!
OpEd: The Data Dystopia: How Blockchain Might Usher in a Digital Dictatorship
No bank has yet declared entry into the arena of blockchain nodes. But rest assured – with profits on the table – it won't be long until U.S. banks start exploring the blockchain node landscape.
Competing with their financial power isn't feasible for most. It's a game very few can play.
Paradigm Shift
Decentralized structures are emerging – but not exactly in the way Bitcoin's pioneers envisioned.
Ironically – crypto transactions have gained traction at the global player level – rather than among common users. Countries like Russia and China are evading U.S. sanctions with USDT and Bitcoin – but the actual use as a currency is limited.
In the U.S. – banks have been given the nod to manage decentralized blockchain nodes. We suspect they'll also delve into market operations, especially seeing how rapidly cryptos are being embraced by investors.
We know without a doubt that Western financial giants manipulate markets for their benefit. Whether it's gold or government securities, these institutions play the role of enforcers for central banks – ensuring the power structure remains unchallenged.
But fear not!
Decentralized assets remain robust. The concept of decentralized systems is thriving now more than ever – and it’s both exciting and daunting!
Trump’s Crypto Empire
U.S. President McTrumper loves a savvy deal. He seems enamored with crypto too. Last year's end-of-the-year surge was a wild ride – though darker forces are stirring in the higher echelons of cryptos.
According to a post from Binance,
“…there are ongoing talks about the Trump family possibly taking over Binance US or becoming investors. The Wall Street Journal even reported that the former CEO CZ requested a pardon from Donald Trump.”
We'd never want to be accused of misleading anyone out of context – so the post's headline is – “Trump won’t buy BinanceUS” – according to CZ himself. The very man allegedly seeking a pardon, as per the WSJ.
Trump is clearly playing the long game with cryptos – and who knows – maybe Binance US and World Liberty Financial (WLF) might join forces as a new type of bank validating “decentralized” transactions.
Total speculation of course!
Unfortunately for CZ's bargaining position, Trump is already making strides in the crypto industry through WLF. His followers appear fascinated by the centralized-decentralized model, buying into Trump’s charismatic speeches or his penchant for making advantageous deals.
We suspect that those less fortunate are the ones rallying to WLF. Sadly deluded folks. Trump knows a lucrative opportunity when he sees one. Crypto is becoming the next financial bubble.
State Actors Using Crypto – As Money
Let’s make one thing crystal clear – cryptos can indeed function as money!
While the general populace still seems to overlook cryptos – especially as a monetary tool – nations worldwide are leveraging it. Some, like El Salvador, view it as an innovative path to sidestep the turmoil of Western fiat currencies.
Other countries such as China and Russia actually use it for international trade!
It's heartening to see cryptos in use as currency – albeit disheartening, as it's often to bypass sanctions. Cryptos were meant to free individuals from centralized control – not to empower one of the most authoritarian nations on the planet (China).
Crypto theft is a favorite pastime in North Korea – which makes sense – they also produce vast amounts of meth – just ask the dedicated sister of the great leader…
The New Decentralization
Here’s the situation – decentralized money is effectively obsolete. Unless you're moving billions of USDT through oil deals beyond the reach of the Western financial systems.
But take solace – decentralization is thriving!
Prez McTrumper recently organized the extradition of numerous alleged Venezuelan gang members to El Salvador for imprisonment. Even with zero respect for those purportedly vicious gang members – it's unclear how their guilt was determined.
Setting aside the concerns around due process – the export of Tren de Aragua is showcasing how decentralized ideologies are impacting the post-COVID-19 world. The U.S. claims incarceration costs in El Salvador are a fraction of U.S. rates.
Additionally, human rights standards in El Salvador vary significantly from those in the U.S.
The entirety of this scenario is a testament to how globalized and decentralized our reality has become. Gang members from Venezuela journey to the U.S. – get apprehended – then dispatched to Central America to work in a “mega prison” without trial.
Decentralization at its finest!
El Salvador is also spearheading a project utilizing geothermal energy from volcanoes to mine Bitcoin – so if the Tren de Aragua crew isn’t inclined to work in the massive El Salvadorian prison – the volcano is the next stop.
Take that IMF! Kali ma!
Mad, Mad Monkeys
We wish we didn't have to say this – but these are trends likely to persist for many decades.
If the entire scenario seems utterly bewildering to you – let’s clear things up…
The upcoming era of humanity is decentralized – but not in the way Bitcoin's architects had envisioned.
Most individuals don't possess substantial resources. It's unfortunate – but that's the reality.
Conversely, billionaires hold the opposite spectrum. Few in total, they command over 50% of global wealth , and they are tired of the regulatory barriers imposed by nations.
Yep – that is the new model.
In its nascent stage, offshore network-states (decentralization) are shaping up as the future's capacity and affluence holders. Why fund taxes to a state when you can directly cover security expenses yourself? Time to display some stars on that hat!
The top 10% globally control over 80% of the world's wealth – but they struggle to strategize like the top 1% do.
If the above clips convey anything to you, it's that having facto dominion over the world's largest economy and military is insufficient for some. They pursue even more!
