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LINKS FOR ADDITIONAL READING FOR THIS VIDEO & ALL INFO IN TEXT DOWN BELOW

Internet of things is still on its way: https://cointelegraph.com/news/ibm-reveals-blockchain-computer-smaller-than-grain-of-salt-to-track-objects-devices

Trump officially bans Venezuela’s Petro coin: https://www.ccn.com/could-trumps-executive-order-banning-petro-transactions-lead-to-backdoor-cryptocurrency-regulations/

Winklevoss Twins Self-Regulating Proposal: https://gemini.com/blog/a-proposal-for-a-self-regulatory-organization-for-the-u-s-virtual-currency-industry/

IoT
This concept of an Internet of Things has been the focus of many blockchain based projects for a few years now and can be applied to a number of different industries. Really, any company that uses a supply chain and wants to establish reputability, or authenticity will have the capacity to do so in the future with the help of these tiny computer chips and interoperability established by blockchain projects like:
* IOTA https://iota.org/
* Chronicled https://chronicled.com/
* INS https://ins.world/
* Waltonchain https://www.waltonchain.org/index.html

Our world is so saturated with consumerism, the internet of all of these things is begging to be created. It can benefit the manufacturers, the transporters, and the consumers and I have a feeling this is going to be a huge development in the coming years.

All this talk about how the U.S. should be dealing with regulating cryptocurrencies and the need to provide guidelines while at the same time being careful not to stifle innovation and here we see a quick move that could have far reaching implications.
Here’s why, cryptocurrency is a worldwide marketplace and industry. It’s also incredibly interconnected thanks to things like exchanges. Now that Trump has banned U.S. citizens from purchasing the Petro, they could also potentially apply that restriction to include a ban of the NEM blockchain, the blockchain on which the Petro is built. Hopefully this type of restriction is out of the question for the government to be able to actually apply.
Although this may seem like a stretch for you, consider the issues of securities in regards to U.S. legislation. The SEC has already been investigating loads of ICOs and pursuing legal action against a few. Consider for a second if you are a U.S. citizen, even if you did not take part in an ICO, but you have purchased tokens on exchanges, these regulations can very easily one day by applied to you as well. Not to mention the trouble many exchanges will be facing in the future having supported these securities.

If you are a fan of regulations because you think it’s needed in order to legitimize this space, there are some things I think you really ought to consider:

* These regulations can very easily and most likely result in barriers of entry that will only allow for accredited investors to take part. (Verified as having at least$1 million)
* You’ll be left to trust the judgments of governments and hope that they exercise regulatory moderation, which isn’t exactly what they are known for.
* If cryptocurrencies could prove to self regulate, this would solve many of these problems.

I would encourage everyone to be proactive instead of reactive. Educate yourself on ways that cryptocurrencies can establish successful self-regulation and become an ambassador for that movement rather then sitting back and hoping that the governments will show this space the respect it deserves while giving it the space it needs to grow and mature.

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23 COMMENTS

  1. When a corrupt socialist dictator invents a crypto coin under the guise of being benevolent your radar better go on full alert. (red flag).You can bet they have only their self interests in mind as in fleeing the country with all the money and crypto coins after total collapse. That venezuelan soclialist dictator invented and designed crypto will end up only being wonderful for one person, the dictator. Prepare to get cheated by that kind of coin. If you believe for one second that kind of crypto has anything to do with freedom you are naive. Stay away from supporting that particular kind of garbage crypto. i wont trust being forced to use crypto coins designed by corrupt socialist dictators, nor fooled into thinking they are some kind of freedom coin. You can bet there is something dirty about those coins …it ain't gonna end well. What was your first clue?…the being forced to use part? (lol)

  2. That damn trump…what is he banning now? Happiness! Again! On a serious note, it is concerning that some lawmakers have continuously referenced money laundering, despotic governments and criminal activity as being the primary use case for crypto. Hopefully, in the "enlightened" USA as time goes on, we will see regulations that separate out the good from the bad, in any case.

  4. The only options Venezuela had was to accept further austerity which they would have basically allowed a large part of their country, (land, bulidings, historic sites to be purchased in exchange for a bail out) …. or come out with their own currency which thank God they did. That almost in itself proves Trump is working for the global banksters.

  12. Because of the FACTA law, EU banks are banning/closing/ all accounts for the US citizens.Who cares about the crypto of VZ. Please Abolish FACTA

  13. Cryptos are a huge opportunity right now (well, some of them)… but the end goal is to make everyone and almost every 'thing' an RFID-type node on the global brain chain. Then, if the man or group at the top doesn't like you for any reason, or if you don't agree to become a node of some kind, you can't buy or sell anything (unless you do so on whatever black market will be able to exist at the time). It seems crazy now, but watch as the deception takes hold on EVERYone who does not love the knowledge of the Truth… many "Christians" included.

  15. I completely agree with you on disliking a ban on a cryptocurrency here in the states and how it opens the door to harsher regulation, but people don't realize the situation. Buying the Petro is essentially buying the debt of the bankrupt, corrupt, fascist Venezuelan government. It's a government regulated, centralized "cryptocurrency". The average person in Venezuela doesn't have access to this. They barely have food, let alone computers or money. This should have been avoided in the first place and I blame NEM for irresponsibly servicing this tyrannical regime. If anything the Petro might allow Maduro the funding to finally violently crush all opposition and freedom left in this unjustly struggling nation.

  18. This is not directed at Crypto Tips but at the community, and relates to the story about the Executive Order banning Americans from investing in the petro. President Maduro is a good man and the petro is an effort to save the Venezuelan economy from American economic terrorism. Venezuela has one of the largest oil reserves in the world and the U.S. wants to control it (and keep China away from it) … end of story. The Venezuelan economy was badly hurt by the U.S. rigged downturn in oil prices a few years ago (originally designed to fuck with Russia), and that impact was doubled by trade and banking sanctions based on bullshit political propaganda. The people of Venezuela have free medical care, free higher education, guarantees of decent, low-income housing, etc. Does America offer its citizen's such benefits? Would America continue to offer such benefits in the midst of a devastating economic crisis? (Venezuela has.) And when did regular American taxpayers ever benefit from the exploitation of this country's abundant resources? Venezuela's oil was nationalized and placed in a sovereign wealth fund (like Norway has done) so that the income would benefit the people in perpetuity, not wind up in the hands of American-controlled crony capitalists. The ban on the petro is just a mundane extension of America's ongoing and immoral campaign to unseat the Maduro government and get control of Venezuela's oil … it has nothing to do with stopping "dictators." If U.S. foreign policy gave an eff about ending dictatorships, then why would Pres. Trump be eating lunch with fucking Saudi "princes"? Or maybe you think monarchies promote freedom and democracy? The petro is a worthy experiment and personally I'm delighted American "moon boys" won't have an easy time playing pump and dump games with the Venezuelan economy. Thanks for listening.

  21. Venezuela Petro = Government support. What's so bad about not supporting a Dictator.
    Venezuela's People uses Dash and various others.
    Let's not get ahead of ourselves.

  23. So…..if I’m not an accredited investor (SEC definition is more than 1 million USD in my bank account and more than 200-300 K yearly income), the SEC does not want me to invest into risky IPOs or ICOs because the SEC is protecting the poor people (me) from themselves and “the burden of supporting a risky venture”. The SEC is also “protecting” me from reaping huge potential profits from such ventures as well. Yet I can legally buy all the lotto tickets I want and spend my paycheck at any Casino I wish……seems more like the SEC is concerned with keeping the poor, poor and the rich, richer. These SEC rules seem very dishonest to me. Thank you Heidi for mentioning SEC regulations. Your videos are short, to the point and contain useful information every time. You add value to this new frontier of money!

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