So we all know the federal government hates crypto:
https://www.coindesk.com/sec-lbry-unregistered-securities
We also know(at least most of us) that the purpose the SEC and all other agencies is to protect the power accumulated in the Federal Government. Youtube or someone else called up one of their politicians on standby, and told them to go after LBRY. Politicians are more than happy to to do so. They love using power.
Now what can be done about this? What is being done now is LBRY is raising money to fight them. You can donate and support them.
https://helplbrysavecrypto.com/
I love LBRY, and switched to the desktop versions instead of odysee. I am moving content from my favorite radio host that was banned from Facebook and youtube. That is what blockchain is all about.
I am torn about fighting the SEC. The lbry network is decentralized. they can't stop it. Odysee.com is a website app that can be taken down.
Instead of wasting money fighting them, why not ignore them? Take down the site and move it to another country. That would be cheaper.
The SEC is backed by the printing of money. It doesn't matter if they are following the law or not. Defending yourself from these monsters will break you.
It shouldn't cost so much money to defend oneself in court. It is another way of keeping power. What is keeping them from simply suing again? And then again? Until you have no money.
So, there is a part of me that wants the SEC to win. Not only to win but do something that would rock the entire crypto world. Declare all exchanges of crypto, securities. Then you'd need a license to even sell them! That is when the rubber will hit the road.
Which brings me to the real takeaway from this. It is the Decentralization of Bitcoin and other blockchain assets that give power, privacy, and freedom to the individual. When I read that Bitcoin has 10,000 - 100,000 total complete nodes(depending on the article I read)............that worried me. Couldn't any government just start mining with 10,001 nodes and cause lots of trouble?! So, we need more nodes of Bitcoin. We need more Nodes of lbry. They need to be as far from the United States government as they can. They need to be in the hands of individuals.
This made me want to become a lbry miner. It made me want to help in anyway possible. While Bitcoin mining has become cumbersome, anyone with a computer can actually have a full node. The problem is there is no financial incentive. That is where Bitcoin has some failings. Running full nodes is important. With only mining as an incentive, and individuals have trouble mining, centralization actually becomes more possible overtime.