Hive Will Fail/ BTC Jeffrey Epstein Relationship Part 1

Welcome back to the channel. I hope you guys are having a great weekend. So today I think we're doing a video that's long overdue. We're gonna talk about decentralized social media, many of the hang-ups with it, while my personal opinion is many of them won't work, particularly the DePOS systems, or what is known as delegated proof of stake. We're also going to talk a little bit about the connection between Bitcoin and Jeffrey Epstein, um, and that's going to be some interesting, uh, information comes out. So it's going to be a good video. So if you're, if you're not sure what DPoS is, delegated proof of stake, uh It's very much similar to proof of stake, but in some ways many believe it's better because delegation at least gives representation, uh, of how that blockchain is run, right? There is a— the delegation to, uh, a smaller group, um, to, uh, carry out the function of the chain. And so in short, there is generally some type of election. And when it comes to representation, obviously some form of democracy and election processes would be logically followed as probably one of the best ways to go about that. Unfortunately, similar to our traditional elections, uh, similar to what we get in the— our political systems. Uh, money has a, a great grasp and handle over that, um, to the point that there is a movement now, um, to, uh, take money all the way out of politics, which only makes logical sense. Uh, 1, you know, coming from a very logical standpoint on this, if money can influence your vote, right? If money can imbalance a voting system, then you're never going to have, even in just the area of voting, any true democracy. And it would seem in the DeFi systems over the blockchain, um, some of the, uh, the more prominent ones here, uh, which would be the Hive blockchain, which is basically the Steem blockchain, or it was forked, and a great amount of that community went to this blockchain. You know, in looking at that, you know, of course the problem again is nothing really changed, right, from a fork. So there's really any— no differences in these systems. So let's lay out some of the obvious problems with this and maybe give you some perspective on, uh, some of the issues with depots, what we need to be careful about, what we need to be realistic about, and if it's anything that could be done better. Um, I think the first most obvious point is going to be the entire Justin Sun situation, right? What happened there? Well, many of us well know that part of the problem was that Justin Soon, through just sheer money, was able to just come in and take over the chain. You know, he wasn't just able to purchase and buy the corporation of Steam Edits, which was kind of this centralized, uh, kind of propel and push things forward for the STEAM chain and community. Uh, but he was also able to not only just take control of that but then take control of the, uh, the, uh, the voting power, right, of the chain, uh, through use of buying all of the STEAM, which gives him power to do that, right? Um, of course All of that considered is a huge problem, right? How this plays out in social media. Another thing about social media that, uh, it makes it kind of difficult over the blockchain in this sense is that when you're dealing with something like social media, you're going to need a great deal of, um, uh, of management, right? Who's going to be managing these front ends and so on and so forth? And you could kind of have it all basically spread out across the chain with different applications, so on and so forth. But, uh, you know, without that type of centralized organization, it just makes things a great deal difficult. So Steemit, I think, was able to— or the Steemit blockchain was able to perform quite well because I think initially it had Steemit kind of leading the charge, and then Steemit.com became the most popular application. All right, first application, most popular application, uh, and it was able to create that centralization that, uh, works from a business perspective, a business model, and, uh, making things work in social media. You know, these are just, uh, inherent problems to trying to create something like this. And I wouldn't say even that, um, there, there are particular players that's the problem. The problem is inherent in the system itself, and that's why we're exploring it today in this video to kind of understand, you know, how do we— what do we do in a situation like this? How realistic it is to think about growth or something like this. So Justin Sun was able to take control of the network through sheer money, right? Overturning the very idea of what decentralized social media would be. Which would be the right for your voice to be heard, not taken away, not turned down. Now they would say, some on these blockchains, these, uh, DPOS systems would say, oh yeah, but your content is still on there. It can't really be erased from the chain. You know, you could just go and look. And it's kind of similar to what happens with Bitcoin. Like with Bitcoin, The idea is that, oh, you know, what you do is still on the chain and so on and so forth. But the reality of the situation is on Bitcoin, your transactions can be censored, right? The system can be rolled back. And so there is a particular group, a minoritized group from the rest of us that can control the Bitcoin network. And a lot of people don't quite understand that or know that. And all of these elements together spells out a form of censorship, censorship of transactions, censorship of, of your content, right? It goes invisible when people have to search to find it, try to figure out why it's there. The downvoting system that exists in these DPOS systems That just can simply mean that a person who is, has a lot more money is able to control a lot of what happens to you on that network, even to the point of they can, you know, suspend funds on your accounts and all this stuff, which is what we saw with Jesse Soon. And how none of this feels or seems like censorship. And I'm sorry, like it feels like some— the idea of something not being able to be censored or controlled, uh, to the point that it amounts to about the same thing. Uh, at the end of the day, all of these, uh, scenarios end up bad. They do not end up, uh, as good things, right? Um, looking into decentralized social media when we cover all those ideas, uh, you also get taken back to, uh, you know, from the perspective of a successful chain, uh, as the title of the video is, why it will fail, why it will succeed. Whereas it may be true the idea exists you could do anything you want, there also exists the idea that there are a great amount of consequences to that. Right? So we have to separate success from being able to do whatever you want to do, right? So it's, um, you know, uh, many, uh, uh, facets to that. So for example, I, I had a conversation with a member of the Jewish community, and he was a strong advocate for decentralized social media. Um, now he had also told me a sad story about how many of his family members were lost in the Holocaust, and, um, that, uh, you know, as problematic as that was for him, he had to accept, uh, that throughout decentralized social media that he's going to have to, uh, you know, still be okay on his platform, deal with Nazi propaganda, deal with large amounts of racism, beliefs in genocide, pedophilia, and all these very things that maybe go against his belief systems and many of us all's systems of belief right? Now, what happens in business when something goes on in a brand you don't like, right? Sure, you have the, you have the, uh, uh, the right, uh, the ability to just stop doing business with that platform, to leave that platform. Um, but the reality of the situation is, from a business perspective, uh, depending on the severity of that view, it's gonna, it's gonna hurt your growth, it's gonna hurt your value, right? Because a lot of your, uh, people in the, in the business community aren't going to support you, right? Because of the, uh, the amount of hatred and the atrociousness of, uh, what your brand is allowing and what it stands for. And the way to kind of skirt around that, um, is through creating an idea like decentralization. But unfortunately, the idea of that and how that really plays out is not the same, right? Um, skirting around legal responsibility, skirting around, uh, any type of responsibility through any means or any use doesn't play out, um, in the end like people would want. So what I'm saying here, I'm not saying that, uh, censorship isn't a huge problem and it's not something that needs to be addressed and it's not of great concern or could be. But what I am saying is that when it comes to the success of a brand and a brand not failing, that, uh, those things are gonna be very important. And I think it's unrealistic to think that they aren't and to think that people are gonna stick around. In fact, it's probably gonna cause a lot of your people who use the platform to up and leave. Right? The other thing is, uh, when we're looking at, um, uh, the value, the value of these, uh, platforms, it would lead one to believe that, uh, you're putting out content and you're getting— it's not guaranteed that you're getting paid for the content, but If someone in the community likes your content, they upvote it and you could possibly make some money from it, possibly not, right? So with the DePOS systems, then it becomes the idea that we're led to believe that, um, it's more valuable than traditional social networks, whether it be something like Facebook, Twitter, Instagram, or so on and so forth. The problem with this is that value, um, and how we equate value isn't always monetary. And, uh, the problem is if you look at something like a DePOS system, which has very low liquidity, has, um, the only a very small minority of people who have enough of the control, enough of the value in the currency to, uh, be able to distribute it out to the network We look at it like that, what it spells is across the chain, people are making very, very little money on average. And the problem with that is if you compare that to something like Facebook or Twitter, your reach and influence on Facebook and Twitter is the same, can be the same no matter how much money you have. For example, A person who doesn't invest any money in advertising or spend one dime on these networks, they're able to build a community that— an exposure to reach millions, potentially billions of people. This is something that would be impossible on DPOS systems simply because of the complexity of them. They're not able to grow big enough in order to provide that type of value. Now, that type of value could also, uh, basically add up to, uh, a tremendous amount of monetary, monetary value, right? Uh, like the, um, content producers of YouTube, they're paid by the company YouTube. On Facebook, similar thing, or they're selling some product or service, or they're just getting an entire amount of value from contacting uh, uh, all their friends, family, and so on and so forth. The monetary value of this is significantly higher than what you'll get on a DePOS system. And I, and I think that from a business perspective, that's what a lot of these type of, uh, platforms fail to understand, that there is a significant amount of value being, um, available to people who use these platforms outside of, uh, monetary value that can spell monetary value. Social capital can equal monetary value. Who you know can equal monetary value. Who you reach can equal monetary value. And the great amount of people you can reach, whether it's millions or billions of people, are going to spell economic value to you. Um, whereas in comparison to DePoz systems, we could be talking about 10 cents, 15 cents a post, 1 cent a post, no cent a post. And this can be an average of what's really happening on here, and in that way, uh, making it not a very realistic, uh, means to, uh, in order to, um, to look at these systems, right? Also, I would go on to say that the very, um, thing that is the holy grail of a deplatformed system, which is decentralized social media, uh, your voice being able to be heard, not taken away, not taken from you. I would say that censorship, as we covered earlier, does exist in many forms on these networks, right? Just not maybe perhaps in the way you think. For For instance, as I look at the Hive community, um, many of the ways that it's structured out into these various groups that do various things under all contained within the framework of the system, many of these groups, uh, are still in a state of censorship and control of others that come in, and they can influence that to a great degree. Right. Um, what the other day, I was in a server called the PALnet server. I believe it stands for Peace, Abundance, and Liberty. And this is like a stronghold for a lot of Hive community members. Now, it doesn't take long to understand that if you're in that community long enough, there is a, a type of focus bias view to a certain viewpoint of things, whether they be political or whether they be, you know, just based on the tokenomics of the system itself and the structure. Now, what these groups tend to do is it's almost like a fear culture, a fear community, right? Meaning people are controlling your money, right? So if your view is too different from the next person the money system involved is influencing their opinions. So they're not able to have their own opinions, right? So their opinion gets censored in a way. So on this server that, you know, again, is very representative of the Hive community, I think many people, most people would agree with that, uh, you know, as most of the members are there, most of the conversation and the direction of the platform is that way. Um, is, um, uh, a, uh, not only do you have that, that type of attitude, but, um, it very much shows in that community what they tolerate, uh, even in their servers, right? Uh, some of the videos I posted the other day there about Craig Wright, the theory of Bitcoin, I spoke comparably about Hexcoin to many of these projects Uh, not that I was, uh, encouraging anybody to use any of these cryptocurrencies or go out and buy them. Um, but because if you watch my video content, you know, I warn very much against those type of things. And I'm a big believer in freemium services. I'm a big believer in that how a currency works. And what I believe is that you don't really have to Like if you think about the US dollar, you more or less use it and earn it. You don't go, oh, let me just collect these dollars and hold $1 and tomorrow is going to be $10 or $20 like a speculative device. No, it's a, it's this thing that is creating a use that's allowing you to transfer value from place to place so you don't have to take your cows and cattle and gold and silver by the tons and truckloads to exchange them for something else, right? So my videos are banned, right? And I'm banned in, in addition to them. And, uh, this just shows that how it plays out with the Hive community, uh, the Hive blockchain, and what they're saying in retrospect is not that, and that's not really what happens, right? So the reason Hive is more likely going to fail is based on those very reasons. It doesn't have the value that the mainstream social media networks have. It cannot grow. Many of the aspects and ideas that it's trying to do. For instance, like trying to build many applications on these DePOS systems and hope that many people will come out and use them. The problem with that is that, uh, for the most part, the leading cryptocurrencies works better more as an integration tool, as a monetary system, over building on it. The only one I could think of that really is counter to that, that I'm a big supporter of, is Ethereum, right? Ethereum is the smart contract king, and that can work in the future for legal contracts and a variety of things in that manner, right? Okay, sorry, had a little disturbance there, kind of lost my train of thought. But we were at, um, I believe we were at, uh, speaking about the, the value of the chain, uh, when you couple all of these things together, all these, these, uh, situations that's brought to the forefront that can affect this value. As you have this barrier of entry issue, um, already with these type systems which is not good for social media because social media, an idea, you want to be able to engage with the maximum amount of people to maximum potential. So you have this barrier of entry, but you also have a system that can easily be manipulated, controlled, as Justin Soon showed us. And the big business issue with that in relation to the the concept of decentralized social media because in this particular format, because as an investor, you're faced with the idea of, yes, I want decentralized social media, but I also want to be a part of a valuable network that's gonna grow money for me. That's something that I'm getting out of investing my money into this. And, um, the reality of the situation is when I first entered into these deposit systems like Steam, which Steam and Hive pretty much the same people, it's pretty much a continuation of the same thing. It's really almost the same cryptocurrency. I believe the value of a Steam, uh, of Steam was something like $2.50, right? It's not— it's lost over 90% of that value. since the start. That's very alarming. I know people who've put millions of dollars in these DePod systems and they've lost a lot of money, even with the amount of money they could grow, um, there, there, uh, through different schemes throughout the system that they have set up to gain value. Even with that, when you couple the amount of value a person could have lost from the beginning of this It's hard to place this in profits, and the growth rate, I would say, is in decline, not gaining. Um, so an investor, a venture capitalist firm, uh, groups aren't going to want to put billions of dollars into something that, uh, can have that high amount of risk. And that's just the reality of the situation. Now, what I think is propelling or I won't say propelling, but keeping alive, keeping it on life support, is a lot of content creators who've come to make money, who want to get some value for their work, for their blogs, for their, for their art, for their videos, whatever the case may be. And what do these people do? Because that, that's fulfilling a, a need for them. Well, even that is problematic an idea when you're dealing with a DeFi system because not long ago the founders of Reddit were doing an interview about how Reddit is going to integrate its own cryptocurrency using the Ethereum blockchain. Now think about that for a moment. If you're any kind of content creator, a part of my idea was always that these cryptocurrencies integrated well as a means to transmit value, um, from existing platforms that are already popular, already have the network. My belief is that the idea that everything needs to be on the chain is a mistake, and, and many people are agreeing with that now. Unfortunately, people who are creative builders and developers are sometimes more so that than business-minded. And they just want to create something, to build something, put on the blockchain, not because it should be on the blockchain, but there's just something that they want to do and it's something that they know how to do. Doesn't necessarily mean it, it needs to make sense. But this Reddit situation that's going on, I think that's gonna fulfill a lot of the needs of content creators. If you write a blog, You might want to make money on over it, but the next big important thing is you're going to want an audience for it, right? And the, and the biggest possible audience there is, and you get that through integration, right? Um, let's see, I think that's all about I have to say about the Hive chain. Um, you know, we can go on and on about it, but, uh, Rob, I think those are some compelling points made that, um, makes it very problematic from an investor standpoint and, and just from a community standpoint. The other thing I would just close with, we're talking about this, is the negative psyche, the negative psychology that can come about. Social media is a strange animal. It's a little bit different than any business model out there. Give you this quick example, uh, in the United States the retirement age right now is 67 years old. Um, in France it got raised to 60, uh, which still a 7-year difference between us and the United— the United States