I'm invested in crypto and BTC but, unlike many who view BTC as the alternative to fiat or an escape from government regulations, I see its purpose more alongside gold, but dematerialized. I invest in cryptos primarily as a speculator looking for a "quick" return, with little commitment to the cause (I'm no idealist). The following article is what worries me (and many regulatory bodies) about cryptos in general and renforce my conviction that BTC and others still have a way to go. https://flip.it/ddMj6l
We will be worried if - the market is dead / not moving - the market moves in a choppy / messy / chaotic manner Other than that, we will be happy.
I told all of the crypto-cheerleaders years ago that crypto was an intelligence psyop and that it's purpose was to test the people's willingness to accept a digital currency. Except, they ran the crypto psyop under the guise of it being anti-establishment. Worked like a charm.
Digital currency has been with us for many years already and it's use has been increasing steadily and organically. By that I mean that consumers have adopted it as the most convenient way to transact. Removing coins and paper money from circulation is the next evolutionary step and the taxpayer savings will be substantial (no printing, no vaults, no trucking, etc.). Most households are law abiding citizens/consumers, more concerned with ensuring the safety of their transactions than with their privacy, and if tracking prevents dark money to flow, the better. In the end, it is more tax revenue for the government to spend on services. The detractors are a small minority of wealthy individuals hiding behind vocal anarchists (I think the US calls them libertarians) who fear for their freedom to....whatever.
Yes, you and about a thousand other people. Anyone well read already understood this. I've read at least a hundred books about tptb, and many of them give detailed information about the elitist running the NWO. Are you willing to fight against them? Unfortunately anyone that becomes a threat to their operation is ruined by the criminal justice system or end up a suicide.
"millions of people come for the profits, but stay for the revolution" ------------------------------- https://pomp.substack.com/p/bitcoin-is-the-freedom-technology Bitcoin Is The Freedom Technology The Western World Needs Anthony Pompliano Feb 21 18 Listen in podcast app To investors, The situation in Canada has received international attention across the internet. People are wondering how a liberal, democratic country could descend into authoritarian chaos so quickly. Disagreeing with subsets of your population, or opposite sides of the political debate, are an expected component of democratic societies, but the shocking aspect is how the Canadian government has decided to react. Rather than meet with the protestors to hear their complaints or encourage their protesting within a designated area of the city, the Canadian leadership has responded to dissent with a ruthlessness that is usually reserved for dictatorships. As David Sacks wrote over the weekend, “A Social Credit System Arrives In Canada.” In the piece, Sacks argued: “For years, ideologues have used accusations of bigotry to hound people from their jobs, kick them off social media, and rescind their right to participate in the online economy. However, many observers shrugged off these cases as outliers—fringe examples that could be ignored because they affected unsympathetic individuals. But now we have a wide-ranging group of working-class people and their supporters who are being financially deplatformed for civil disobedience.” It is pretty incredible to watch this play out in real-time. There are individuals who are being financially sanctioned in a way that was previously reserved for enemies of war. Take the Russia - Ukraine situation as a current example. The United States is threatening financial sanctions, including potential removal from the SWIFT system, if Russia chooses to invade Ukraine. There is not much difference between the threat of sanctions to Russia and the current financial sanctions that are being levied against Canadian citizens by their own government. That is wild to think about. If there is one positive outcome of this situation though, it is that millions of people in the western world are being alerted to the perils of financial censorship. Previously, most people thought these authoritarian measures would never happen in their own countries. Canada has made them change their mind and start paying attention. This morning, co-founder of Basecamp and creator of Ruby on Rails David Heinemeier Hansson (known as DHH), wrote a piece titled “I was wrong, we need crypto.” He started with the following excerpt: To say I've been skeptical about Bitcoin and the rest of the crypto universe would be an understatement of epic proportions. Since the early 2010s, some of my most ferocious Twitter battles have been against the HODL army with the laser eyes. There's just so much to oppose: Bitcoin's grotesque energy consumption, the ridiculous transaction fees and low throughput, the incessant pump'n'dump schemes in shitcoins, the wild price swings in the main coins, the obvious fraud that is Tether, the lack of real decentralization in most of the current web3 infrastructure, and on, and on, and on. Beyond all these very real problems and challenges, my bigger beef was actually fueled by a lack of imagination. I could see the fundamental promise of a digital currency free of banks if you were living in a failing state like Venezuela or an overtly authoritarian one like China or Iran, but how was this relevant to the vast number of Bitcoin boosters living in stable Western democracies governed by the rule of law? Beyond the patina of philosophical respectability it could apply to yet another get-rich-quick scheme? You have to give DHH credit for the intellectual humility necessary to admit you were wrong in public. But his journey is not that dissimilar from many others. The idea of bitcoin as freedom technology was a distant thought because it has been hard to see dystopian or authoritarian environments in the western world. Sure, maybe those situations play out in the developing world far away, but that couldn’t possibly happen in my country, right? RIGHT??? DHH continues his write-up with the following comments: “I still can't believe that this is the protest that would prove every Bitcoin crank a prophet. And for me to have to slice a piece of humble pie, and admit that I was wrong on crypto's fundamental necessity in Western democracies. And that it was the Canadians who brought this on? You might as well have told me that it was really the Care Bears who ran Abu Ghraib. Especially since I had some sympathy with fears projected by the US progressive left who spent four years fretting Trump might pull stunts like these. Then it turns out that the worries of an authoritarian overreach would be fulfilled by Trudeu to the North instead? Who's writing this script? M. Night Shyamalan? Meanwhile, plenty of American commentators are cheering this on. Those terrible, horrible, no-good, very-bad truckers got what they deserved! To protest for a repeal of pandemic restrictions, so as to live the life enjoyed in Denmark by a population less vaccinated than the Canadians? That's clearly beyond the pale! But in a weird way, I'm glad we all got this warning from Trudeu in Canada and not Trump in America. It would have been far too easy for Europeans in particular to dismiss authoritarian assertions of martial law from Trump as being irrelevant to the European experience. Just like I had for so long deemed the practical desire of people in Venezuela or Iran or China for crypto irrelevant to the entire Western experience. Is France really that different from Canada? Is Austria? Is Denmark? This is a real wakeup call.” Ultimately, bitcoin serves as the chaos hedge. It is insurance for a dark, dystopian world that everyone hopes won’t become reality. The hard part about technologies that bring freedom, security, privacy, and sovereignty is that the mainstream population doesn’t actually care about these ideas. They want convenience. There is a disconnect between the conversation and the actions when it comes to these topics. This is an area that bitcoin is drastically undervalued and misunderstood. Bitcoin is a freedom technology disguised as a get-rich-quick scheme. Millions and millions of people join the revolution initially to make money, not to adopt a secure, censorship-resistant currency. Economic incentives run the world. Show someone how they may get rich and you’ll watch adoption follow. That is exactly what bitcoin has done. It is the best performing asset over the last decade, including a 150%+ compound annual growth rate during the decade. Here is the catch though — millions of people come for the profits, but stay for the revolution. Bitcoin has a unique way of teaching economics, computer science, personal finance, mathematics, philosophy, geopolitics, and much more. In fact, I’d argue that most bitcoiners have learned more from the bitcoin community than they did in school. This is what hardens the bitcoin holders. They don’t care about price fluctuations. Name another asset where it goes down 20% multiple times a year and there is a 50% loss in price every year for the last 4 years, yet majority of the investors continue to hold for the long term? Bitcoin isn’t about profits. The investors and holders have no plans to sell. Bitcoin is a freedom technology. It is a peaceful protest that arms the average citizen with a censorship-resistant technology that prevents their government from enacting authoritarian measures that encroach on their basic rights. Without the freedom to transact, you have no freedom. Canada has awaken the western world to the perils of financial censorship. Bitcoin is the solution. It is just a matter of time before millions more realize it. Hope you have a great day. Talk tomorrow. -Pomp
Thanks for that article and the ammo it provides me for my argument. When reading the Right (Sacks clearly is), these poor blue collar truckers only wanted to express peacefully their disagreement with the government of Canada. The level of hypocrisy is over the top. Facts are, those truckers who blocked the roads, the bridges and access in and out of cities for refusing to comply with government mandated covid vaccination represent less than 10% of the Canadian trucking industry. This compares to the 10-15% of far right party voters in Western nations; the point being that no, democracy doesn't shatter because of its fringe elements who despise democracy. Three other points about the trucker protest; 1. The local population affected by the protest was beginning to voice their frustration and counter protesting the truckers and 2. Some of the leaders of the protest are known secessionists vying for their acre of supremacist land in the Canadian forest. 3. The protest could only be maintained because of foreign monies sent by the US fringe right. To sum it up, there is very little popular rejection of the Canadian government, or Trudeau's actions, except in the minds of alt right and libertarian activists. The cherry on the cake is demonstrated by the journalist who links the truckers protest to the sanctions against Russia (sorry Putin, it's so unfair!). Seriously can Putin not have the right to express his opinion by going to war with Ukraine? The fringe right in the US has spent the last 10 years trying to use democratic arguments to validate their bigotry, racism and radical views. Your right to fight racism gives me the right to promote it, their argument goes. Relativism has become the norm, not only on the left but, incredibly, on the right as well.
Crypto is not gold. Gold has limited supply whereas crypto's as a collective asset has actually infinite supply (it takes about 5 minutes nowadays to create a new crypto coin) and that's why it will never be able to serve the same purpose of being a store of value like gold. You can invest in it, that's cool but just remember it's just another tradable commodity.
The idea of having transaction that elude the purview of the central bank may sound attractive. However, traceability may not be such a bad thing if accounts are hacked.