The War on Crypto & Blockchain by Facebook, Google and Twitter
This is by far the most important reason for the loss of momentum and the sharp decline of crypto as a whole. Today no product, service, political party or ideology can thrive, let alone survive, without access to online distribution channels of Facebook, Youtube and Twitter.
We spend most of our lives on social networks. That’s where we get most, if not all, of our information.
Most people have no idea how much power Facebook, Twitter and Youtube have over our lives. They create algorithms, which filter and organise all the information we consume on a daily basis. They know everything about us, what we like, who we talk to, even what we say and how we feel.
Facebook, Google and Twitter have more power, than any government and they know more about us, than any secret service agency.
Trump & Brexit proved that Facebook, Twitter and Youtube have superpowers
Thanks to Facebook, Twitter and Google, followers, likes, retweets and shares are far more important than the actual truth. This is why “grab them by the pussy” Trump is president and why misogyny and racism are considered ok by the majority of the 55 million Trump followers.
Without Twitter and Facebook Trump would probably never be president.
A centralised worldview where all data is owned and controlled by Corporations
Facebook’s (and the other social networks) business models are simple. They collect user data and then monetise that data via ads. Facebook is nothing more than a personal data collection company with some tools to facilitate that. They are not the product. We are.
All our user-data is owned and controlled by Facebook.
And to keep the shareholders happy Facebook needs to grow, and continuously amass even more user-data, and find new ways of monetising to grow revenues.
The clash of the Centralised and the Decentralised world-views
In a decentralised worldview data is not owned by a few corporations. It is distributed and owned by the people and the communities and tribes, which provide value and need small sets of data to operate.
In a decentralised society — there is no place for centralised databases, owned and controlled by a few corporate monopolies. All data is distributed and resides on public and private chains, and is owned and controlled by the users and blockchain organisations.
In a decentralised society — decentralised applications connect the public and private chains to view and write data. The applications become open source commodities, and available to anyone.
In a decentralised society — Facebook, Youtube or Twitter will not survive, simply because they will not be able to collect and monetise data anymore. Their whole business model will become obsolete.
This is the reason why Facebook, Google and Twitter are in a fight for their existence against anything and everything blockchain.
The ban on Crypto-ads immediately cut off financing for blockchain organisations
Crypto is the fuel of blockchain organisations.By banning promotion for ICO’s and token-sales, Facebook, Google and Twitter are essentially cutting off funding for blockchain projects.Since Crypto is the fuel of new blockchain powered and tokenised organisations, they are trying to kill innovation at inception stage, making it hard for blockchain powered organisations to get funded fast.
The ICO model will result in 99 out of 100 ICO-funded startups to fail. That’s normal. The classic VC-model, which funded Facebook, Twitter and Google, didn’t have better results.
Blockchain and crypto will have a massive impact on our society. Companies and even whole industries will become obsolete. Wealth and power will be redistributed. Today's winners will become tomorrow's losers. This process will not happen overnight. The establishment and corporate monopolies, which are today's kings of the hill, are not just going to give up their position without a fight. They understand that a small tech startup, with a small team and a little capital, can change the balance of power and change the world.
But today Facebook, Twitter and Youtube have the upper hand. The Crypto- and Blockchain community is totally dependant on their tools and communication channels.
Source: Alex Kleydintis