Here it's more nuanced, you have to look at it a bit differently.
From my lense (anecdotal) - I used to interact with regulators (in a bank, Dodd-Frank Act, USA) and governments (as Ukrainian in Holland), and even the intelligence agencies.
Long story short - they incompetent. They did not update to reality at all. Intelligence almost literally follows movie plots - fiction all the waay.
What Hague sees as security - is a set of old habits (a protocol) they clinging to, like a baby to mama's tit.
They (Hague) apply same security procedures to Ukrainian refugees as they applied to Arabic refugees, trying to provoke terrorism (and hammer it consequently).
(I understand that desert makes Arabic people angry, would make anyone, but Ukraine is an exporter of food to EU - not a desert, treating it as such is unwise economically)Besides, 14yo can bypass Dutch psychological measures, no one takes them seriously.
No need to sell weed anymore - Dutch royal government is just hilarious.
They wasted surveillance budget on me (acting 14yo) without even seriously checking my background.
(I still hope they just pretended to "unnoticably" tap my iPhone and who knows what else - but their publicly reported budgets say otherwise, and this was like year 2024)
That's your taxes at work.
So the centralized rule is working is only in the media. Only psychologically, not economically.Other areas:
Banking sticks to what "works" (put one fire causing two more). Novel initiative banks either succumb to regulations (ZEN) or compromised from the start (Revolut).
Revolut - is corrupted DeutscheBank people (open info, DYR), and I used to work in DB on Wall-Street in my 20s briefly, they lost touch with reality.
Those small innovative banks are funded from handouts from bigger banks. The latter survive on handouts from FED (and bailouts during crises).
I worked in "highly secure" environments - a theater, a cult, eye-witness here - no real security. IT-outsourcing makes it even worse, bringing "professionals" (who in reality work against transparency - bank let's them introduce reporting bugs, coz they never criticize bad designs).
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More formally. What I realized early - banking, corporate, governments and military ARE DECENTRALIZED.
But protocol sucks - it is rooted in collective farming and planning impossible activities, simulating success, not achieving it.
Quantitatively, amount of chemical energy for humans (nitrates, bio) is finite and diminishing at near exponential rate (supply), while demand (population) grows exponentially.
Meantime, price on food YOU observe does not grow super-exponentially, it does not follow to market law (even in USA), which is very well known in economics (DYR). It is heavily regulated (in USA even!!) - to push it down at the price of what is naturally cheap getting expensive: cost of simply living (shelter etc). FED is equivalent to China communist party. The only difference is that in US we see true capitalism (private property + free exchange) in the movies, we just never implement it. We only imagine it is already here, which is not.
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This is reason why Defy/Web3 is failing - they replicate governments and corporate, replicate regulators. All their "green projects" (Cardano) etc. They imagine "green", but their actual reality is red.
Whether it is government or DeFy,
they still neglect free market. They operate contracts detached from physical reality and its limitations.
Regulatory frameworks arise as a symptom of mental illness, as a result of gap between actual reality and what imagined.
**BUT STRUCTURALLY THEY ALL STILL DECENTRILZED** - you don't go to central server government, you go to an agency providing service, all those are independent businesses in some sort of agreement (protocol, consensus). With data replications etc.
So the issue is in HUMAN CONSENSUS. It goes against physiocracy and market laws.
Money are not backed up by anything other than rapid waste of natural resources (derivatives market - good example), through perpetual logic, that does not achieve anything.
Physically, it is bound to lead to an ultimate price correction (when we out of resources - they'll be unaffordably expensive, simply). And the longer we wait and unwisely ammortise - the sharper the correction gets.
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Same goes for DeFI - I literally published "Crypto-loans" conference paper/chapter in Springer, demonstrating practically that every FED contract (ACTUS standard) can be replicated on blockchain.
https://link.springer.com/chapter/10.1007/978-3-662-63958-0_41One thing I did not mention - how pathological those contracts are. I thought it goes without saying, and now paying for it with long walls of text.
I tried to explain it 14yo-level here:
https://dk14.github.io/mega-peers/docs/#/dsl--
"attempt at perpetual motion" always backfires.
Luckily, instability of IDs "noise replay" attack introduces - will make long-term contracts unbearable on-chain.
Contracts will become more dynamic than they are right now.
Bitcoin is most suited since it emphasizes simpler contracts.
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Technical example. secret key is burned to your ID (passport, Digid whatever). If it is guessed - you lose your government ID permanently!!
Note: Corporate relies on nearly-same security principles as governments. The latter would not give corporate handouts in forms of loans they never have to actually return, otherwise.
(key is created from white noise + guessable pipeline; guessable coz regulations restrict it)You cannot just migrate to another chip, like with Bitcoin. You already delegated your ID management to government agency - too late.
Even your biometrics are stored this way.
Your photo is stored in insecure database (.NET Dutch are using lol, for instance - don't even hide exceptions and stacktraces from public), and paper copies/backups/replications are useless in a world filled with 8 billion people. If you have godmode authorization, you can simply fill backups with contradictory data slowly.
Or just authorize your own crafted backup as legit.
Whatever comes in 14yo mind.
military and nukes: same thing - you can steal launching codes without ever touching hardware. You can impersonate a person responsible for decision or bribe someone with money you just printed.
It becomes movie like without information security.----
If corporate and government system was centralized - it would be EVEN WORSE, since then root authorisation would be able to shut it down momentarily with a single command (single point of failure). A king. Such system would not survive or prevail over 10000 years as regulators did.
Detachment from reality is an issue that will backfire on orgs. Centralisation is only a factor, it is far from whole story.
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I tried to explain governments (and DeFy) that they need to update to reality, so many times in my career. Never worked.
And I'm pretty sure, you never seen anyone truly succeeding either. Lost cause.
So, yes, Bitcoin is my best bet. Here on bitcointalk I see more response than there.----
About Ledger, maybe - I won't argue. But other devices have same limitations, and Ledger together Trezor are still leading.
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P.S. The more walls I write - the less code I write, the more risk are funds are, but up to u
