The Cexodus
September 28, 2021 5:07 am Leave your thoughts
Economic Meltdown Economic Warfare
Theres a war going on out side no one is safe from. It’s a war that is being fought on many fronts. A few of these fronts include culturally, medically, digitally, propaganda, psychologically, informationally and most importantly economically/financially. One of the main issues about this war is that it is a cold war and many people are not even aware that they are caught in the middle.
In the mix of this are crypto investors and traders.
Before we get to how it affects us as crypto investors, let’s pave the way. The entire world is in a precarious situation. One that it has never been in, on the scale it is in the current day. In the history of all humanity.
Currently approaching 300 Trillion dollars in debt and don’t let these economists fool you. They have no clue what to do or how to stop it. Everything is theory and the fact of the matter is that if they knew what to do, the problem would be getting fixed and books would be getting balanced. One of the main issues is human nature. There is corruption everywhere and they don’t care if you and your family are left destitute in a world wind of inflation and hyper inflation.
Furthermore, the covid-19 “pandemic” has opened up more cause for concern. The United states alone has spent upwards 9.1 Trillion dollars on covid relief. Many other countries are also over at least 1 trillion dollars and this train does not seem to have any breaks: https://www.covidmoneytracker.org/
Modern “economists” with “modern economic theory” seem to believe that they can print money to no end with no repercussions and entire populations are complacent in this, nor does the average person understand how this works or what the outcome of it will be. It’s simple, supply and demand. If you print more money, the value of the money goes down and the price of goods go up. It’s not rocket science.
What we are witnessing and living in, is the slow spiralling off to 0 of not only the USD. But many currencies the world over.
Desperate People Desperate Governments
As time moves forward, we are going to see governments get more and more desperate. You may have already seen this where you reside. What will this look like? More taxes, more fines for trivial things, the attempts to strip away freedoms to enable more fines under the guise of covid-19 and/or keeping everyone “safe”, broken supply chains, higher prices to do certain things like renew licenses, ID cards, buy food, higher property taxes and higher capital gains taxes, governments violating privacy laws, looking into your safety deposit boxes and looking into your bank accounts: https://www.forbes.com/sites/patrickgleason/2021/09/22/bidens-proposed-irs-bank-account-snooping-authority-runs-into-state-resistance/
Remember people. In the free world a person is innocent until proven guilty and for you to be investigated you must be giving reason in some way to come under question and even then you are still innocent until proven guilty. What governments (usually the more progressive ones) want to do is treat everyone as if they are guilty until proven innocent and this is flat out wrong.
I have discussed this extensively in past posts on this site. Things are going to get rough as people get more desperate. This extends to every level of society, even governance because as purchasing power goes down, people in government jobs have to try and justify paying themselves more by way of taxes and quantitative easing (money printing) to be in these positions and maintain their lifestyle. It will slowly become a free-for-all and they will become more draconian in their methods.
Crypto Traders
This is where we crypto investors and traders come in. There will be an uptick on governments trying to figure out ways to pry into the data of crypto traders and investors, and it has already begun. Binance, one of the number 1 crypto exchanges has begun to come under scrutiny from the U.S. government. It wont stop there. Once one government claws its way in, so will other G20 countries. You can bet your bottom dollar that if you live in a country that spent a ton of printed money on covid-19, they will be looking for money wherever they can find it and encroaching on your freedom as a citizen of that country.
Governments will begin to target every centralized crypto exchange, attempting to probe these entities for information on users from their respective countries. Eventually these exchanges will begin to cave one by one. Binance has already began caving in. This started when Binance US became a thing. The exchange does not want to loose revenue from these countries so they have to play ball if they don’t want to get blacklisted and blocked from being accessed within the respective country on the surface web. It’s just business.
This is where the Cexodus comes in
A while ago I posted about a project: Sovryn (SOV), recommending my readers to check it out. This project has been moving strongly as it has expanded on its team hiring more developers, ramping up marketing, attracting more and more investors, growing its community, regularly communicating with the community and expanding its user base, network, exchange and DAO and getting the Sovryn token listed on new exchanges. Things are looking great for the growth of the project. But there is more to it than that.
To explore whats more to it, we must ask ourselves a couple fundamental questions. What is cryptocurrency? Why does it exist? You see, Bitcoin and cryptocurrency at large is not just some fun new tech made by some internet nerds. Its much more than that and it has a very much specific and needed purpose in the world. It was created for a reason.
To bring back fundamental rights to humans such as freedom of privacy, freedom to transact, freedom to do whatever the hell we want to with our property without a nanny state (or in the case of Australia as of recently, a prison police state) watching everything we do and looking for ways to tyrannically rob you because they failed to do their jobs and balance books. I have stated before that freedom is not something you ask nicely for, freedom is something you TAKE.
Bitcoin as a distributed ledger allows us all to be our own bank and transact on our terms, how and when we want to. As the technology allows anyone to participate, we can all have a copy of the ledger rather than 1 centralized entity. In a decentralized cryptocurrency no one has all the power and no one can access your money without your private keys. It would follow that, we need a decentralized exchange to match. The very notion that we have been using centralized exchanges (like Binance) to trade decentralized assets is asinine. However, it is also understandable that as the entire market was (and still is) very young in its development, the CEX (centralized exchange) was a needed step in the progression of the market.
That day has come to an end. Not only out of the progression of the tech in the crypto space but also out of necessity. As I alluded to above, one of the reasons cryptocurrency exists is to allow us all to keep prying governments out of our business. These governments are going to encroach onto the entire market and the only way to protect ourselves is the DEX (decentralized exchange). The decentralized exchange is also the next crucial step in the development and purity of cryptocurrency. It is a must at this point. With a DEX there is no person or place any government can point to demand the data of its users. It is simply regulation proof because it exists “everywhere”. This is the vision of Satoshi.
For the record. I am not demonizing centralized exchanges in anyway, nor am I claiming they will not or do not have a place. Also, I am not saying that the Sovryn (SOV) token should not be listed on centralized exchanges, I believe the SOV token should be listed everywhere to be traded. Rather, I am painting a picture of why over time the crypto market, by design will need to and begin to adopt the DEX over the CEX. It is inevitable in the stepping stones to a truly decentralized and free market.
Parting The Sea and Parting Ways
The sea has been parted and we have a clear path to the promised land. This promised land is what I believe to be the next leading exchange, but not only that. As I said in my review post on the Sovryn project, a financial operating system for bitcoin that gives us the freedom to exchange, trade, invest and interact with crypto financial services freely.
It is the operating system that allows bitcoin to do what it was built to do. Exist as a decentralized currency and be used and traded as such. I say used because the Sovryn platform does not only allow traders to trade, it extends the utility of bitcoin. Sovryn offers a full suite of financial services and products to Bitcoin users. So, as much as Bitcoin allows users to be their own bank. Sovryn allows Bitcoin holders to actually act as such. Extending the use case of bitcoin in a full financial operating system. All with no KYC, in a trustless environment where you hold your own keys, your assets are held in self custody and secured by the Bitcoin network itself ~ with lower fees I might add.
These are the fundamentals of Bitcoin, cryptocurrency at large and the reason we are all here. The reason it all started in the first place. This is the best weapon we have to fight this economic war we are in and we must use it.
It is time for a Cexodus because they are coming. It is time for the crypto market to fully adopt the DEX and Sovryn is the place to do it.
For more info on Sovryn
The DApp
The Forum
The Wiki
https://wiki.sovryn.app/en/home
The Telegram Group
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Tags: Bitcoin, CEX, decentralized Exchange, DeFi, DEX, Global Debt, SovrynCategorised in: Cryptocurrency Markets, Fundamental Analysis, Politics
This post was written by BlockAdvisor