The video discusses the latest economic report from President Joe Biden, which includes attacks on the Trump administration’s economic policies. The report outlines the Biden administration’s plans to overhaul the economy through infrastructure investments, tax reform, and other measures aimed at creating jobs and boosting growth. The video suggests that the report reflects Biden’s commitment to building a more equitable and sustainable economy that benefits all Americans, particularly those who have been hardest hit by the pandemic.
The anti-crypto bill, formally known as the Eliminating Abusive and Rampant Neglect of Interactive Technologies (EARN IT) Act, has been stirring up controversy in the tech world ever since it was introduced earlier this year. The bill aims to combat the spread of harmful content, such as child pornography, on online platforms by holding tech companies accountable for failing to prevent it.
However, many experts and advocacy groups have warned that the bill poses a threat to encryption, free speech, and the privacy of internet users everywhere. In fact, the bill is so poorly conceived and dangerous that it has been deemed an insane breakdown of legislative efforts to address the real issues at hand.
One of the most pressing issues with the EARN IT Act is its potential impact on encryption. Encryption is a crucial tool in protecting the privacy and security of online communications, and it is often used by tech companies to secure their products and services. However, the EARN IT Act would require tech companies to earn Section 230 protections (legal immunity) for hosting illegal content by implementing a set of “best practices” approved by a government commission.
The problem with this approach is that it puts the power of determining these “best practices” into the hands of a government commission that could potentially place arbitrary restrictions on encryption. This threatens the ability of tech companies to provide secure products and services, ultimately undermining the privacy and security of everyone who uses them.
Furthermore, the EARN IT Act could have a devastating impact on free speech. The bill would empower the government to regulate online speech by tying the legal protections of online platforms to content-moderation practices that may not align with the values of free expression. This could lead to censorship of legitimate speech that may be deemed problematic or controversial by the government, limits the ability of users to express themselves online, and could effectively destroy the internet as we know it today.
Lastly, the EARN IT Act could have far-reaching consequences for user privacy. The bill would allow law enforcement agencies to more easily access user data by requiring tech companies to follow a set of backdoor policies allowing spying on user data, which would also undermine the trustworthiness of these companies and destroy privacy rights.
In general, the anti-crypto bill is an insane breakdown of legislative efforts to address the real issues of harmful content and abuse on the internet. Instead of unnecessarily restricting encryption and free speech, policymakers should work to develop more effective strategies for combating online harm, such as enabling better digital literacy, greater use of end-to-end encryption, and greater transparency in commercial data practices. It is of the utmost importance that any future regulatory efforts become more smarter and privacy-friendly and prevent as much destruction and abuse as possible.
Well babes the day is finally here the president of the United States released their economic report and it is a direct attack on cryptocurrencies nfts and Bitcoin yes nfts are unique tokens that live on the blockchain and when we’re talking about Bitcoin they are 100 coming for your Bitcoin but they’re
Coming for the environmental impacts of Bitcoin which we all know are very very very minimal why do we know that they are minimal well the president of El Salvador not only introduced Bitcoin or excuse me legalize Bitcoin as legal tender in El Salvador but is using volcanoes 100 geothermal energy to mine
Bitcoin plus we’ve got a lot of minors in the United States of America that are coming up with different ways to safely mine Bitcoin to where it doesn’t harm the environment and please let me remind you when you print money it causes an impact to the environment but let’s talk about
This 513 page report and I believe about 35 Pages was dedicated to cryptocurrency talking about how bad it is and why we need fed before we talk about the negative aspects I want to talk about one of the positive aspects and that is they stated that DLT
Could potentially solve a lot of issues with transparency because we know that the public servants they’re spending what they’re doing so not very very transparent plus when we’re talking about like tracking different things let’s say where we’re sourcing our fruits or vegetables Etc that was a good aspect however they went straight back
To absolutely slam cryptocurrency and said that it is not needed one of the things that they slammed was the P2P transactions and they’re stating that that’s why they need fed now fed now is going to help usher in a cbdc which is going to be absolutely detrimental to
The United States of America as far as control goes okay it’s going to be a massive problem and they’re going to go ahead and push this ideology with the failure of the banks which is a U.S banking system not a retail problem that we need to have this fed now we need to
Have a cbdc to make things better one of the things I’m seeing all over Tick Tock my audience is saying we need a cbdc we need a cbdc well guess what we don’t need a cbdc most of the stuff we have now payment systems are done online anyways with Visa MasterCard Etc
And if you want to really remove physical cash just remove it and use the current system we have we don’t need to integrate a brand new system that we don’t really know how it works yet and best believe there’s going to be glitch so in this report these are some of the
Claims that they made they said crypto doesn’t improve Payment Systems doesn’t increase Financial inclusion crypto 100 improves Financial payments one of the reasons why is I can send Bitcoin instantly instantly once it hits a blockchain it is there yes it could take a little bit of time to confirm but it’s
There the am transactions are a lot faster and then the next aspect increase the financial inclusion crypto solves this problem I don’t know about you but I’ve walked into Banks before and gotten those ugly stairs okay that is a problem that we have in the current system but with crypto you’re not going
To get that because it is decentralized you don’t know who is mining your Bitcoin who’s hosting that transaction you don’t know who else is participating in that pool but with the current U.S monetary system we do not have a lot of inclusion even though we have all these
Laws and regulations passed to fix this suppose one of the next attacks create mechanisms for the distribution of Ip and financial value that bypass intermediaries that extract value from both provider and recipient nft solve this nfts solve this 100 because you can prove on chain who owns what and you
Actually have the rights nfts will in fact disrupt the music industry the entertainment industry and all other areas that allow for predatory third parties to come in and attack artists we see this happens and then of course they go on to attack stable coins I get the
Argument there because we have had bad actors in the industry however stable coins are very very very needed for our our industry they allow for volatile markets to remain stable and we need that when we’re trading and transacting it’s a valuable part of the ecosystem and then of course they
Acknowledge that not all crypto is here to stay yes we know most of these cryptocurrency companies are small businesses of course they’re not here to stay but at the same time we still need some sort of Regulation from the SEC from the cftc and from Congress we need
To know what we can and can’t do and in order for this industry to move forward we need that regulation as much as I hate it at the end of the day this report is bad it is dangerous and is going to help push fear out so people
Want a cbdc and again fed now is that cbdc do not be fooled and again if you can opt out with Bitcoin read the Bitcoin white paper make sure to like comment subscribe and share Wendell is