(but what is in the bag?)
It seems like this is going to be a big deal. After all, we are beginning to live in in a sphere of total control and intrusion. Many states are in the process of gobbeling everything up - especially when it comes to our freedoms (in all regards, really). Wealth is the next thing that is being eye balled by bureaucrats and the EU in particular is taking steps to set up a wealth registry that should track all assets by all individuals. What is there not to like?
Any sane mind will object to this idea, but as always it is going to be almost impossible to stop this non sense. Policies have long been steered by the so called representatives without the consent of the people whose true intent is always about more control. There will come a time when people might understand that they live in a prison without bars, but I fear that most might even support such a system, having been brain washed by institutional "education".
Anyway, non-registered wealth is essentally anything of financial value that is not registered by a state and is therefore private. The only person who knows about it is the person having access to it. Not so long ago this was a perfectly reasonable idea and it was assumed a natural thing to have. Likewise, anyone who assumes as such must find a way to build wealth in this way since the only other outcome will be heavy restrictions to one's own wealth.
Make no mistake, once these kinds of registers go online (and worse, attached to a digital ID), people will face constant scrutiny from authorities about their wealth in regards to all sorts of issues. The only way to avoid that is to build wealth off of the records. Privacy is a human right and as such we have to take active steps to maintain it.
Crypto is the only way to store and access wealth with some kind of fluidity (sorry gold bugs). The privacy narrative is finally gaining momentum in the crypto space and as such I think the future is looking bright in that regard. We will have more possibilities to access, distribute and store value privately.
What has been clear in recent years is that such wealth is being separated from the sanctioned crypto sphere regulated by the states. A two-tiered system, in other words, is being established. The downside to this is that it will be hard to utilize these assets for goods and services (although there are still quite a few bridges), but I think the stronger the ropes are being tied the more alternatives and possibilities will emerge to do just that. We already have $HBD being adopted by many merchants and that's a great start.
There isn't really an alternative to building wealth off of the records, since not doing so will leave one at the mercy of the state. Fortunately, many people still share such a different vision for society.
Keep stacking those sats I guess... Hive at least still has this unique feature of distributing non-registered wealth to its users. It's a great place to start earning and utilizing crypto. Perhaps the markets will shift towards greener pastures as well some day - if so, earning here could make a bit of a difference.
As a general reminder: Please keep in mind that none of this is official investment advice! Crypto trading entails a great deal of risk; never spend money that you can't afford to lose!
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