Everyone Wanted Regulation and VCs This Is What We Get
Everyone Wanted Regulation and VCs This Is What We Get
The old saying goes be careful what you wish for you might just get it. That's the case we have today as more VCs have piled into crypto which yes increased the price of it but also gained a lot more attention of governments including the US government.
No one can deny that the government of the USA has been increasingly attacking and oppressing the crypto industry. What's really crazy is FTX and SBF seem to be under the radar now and people have already forgotten what close ties it had with high ranking authorities in the government. In fact it's been speculated for a long time that all of this was planned as a way to give government a foot in order to have some big explosion happen in the crypto space so that they could step in and have the so called right to start policing it and issuing crack downs on it.
The Banking Sector
It's also been clear that crypto has been looking down upon from the bank standpoint not allowing people to transfer their own fiat currency into crypto funds. I remember starting to run into this myself years back and it's only increasingly gotten worse. You also have CEOs of big banks yet again calling crypto a fraud and yada yada after they just parsed it two years ago.
This is where people need to wake up and seriously need to take a stand and look at things. The government is expressive and continues to take more and more power away from people. While it's not all in one shot it's something that continues to get worse and worse. Crypto finally opened a doorway to fight back and restore power back into the peoples hands instead of a select few. However will calls for regulation and big investments it opened the entire crypto space right back up to being manipulated and controlled by governments.
Government Crackdown
All of the things that big "news" reports but does in fact happen behind all the flash is for real taking place. The SEC, FDIC and Fed continue to tell banks for the most part not to deal with anyone in crypto while not flat out saying it they highly discourage banks from doing so.
While the government can't simply come out and tells someone or a bank not to do something they can issue other moves that chock off and stifle growth. This is because governments clearly have too much power now and are starting to try and take back some power from the banks. This is pushing some serious pushes towards the government and banking system to cut off crypto and issue some things you might want to start questioning.
IMO This is why crypto people like us that see the bigger picture need to keep investing, growing and helping crypto reach new levels to help others restore power back into the hands of people and fight back government.
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https://twitter.com/777743941617713152/status/1624103693007130624
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Im in the camp that they still fear what they dont understand and cant control, they might understand the mechanics of Bitcoin but know that at this point would be hard to shut it down, its like trying to shut down p2p protocols or many other decentralize models, in the meantime while they figure out their plan Ill just keep buying because I have the conviction that eventually crypto will become just another way of transact, the FTX case I think it was planned intentionally with potential political means but thats just conspiracy, thx for sharing ✌️🤑
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Everything that is different is unfortunately often overlooked, the community work that happens in hive and in cryptos in general is huge, and we really see this community growing and taking shape.
But I also think that we have regulation with tough rules for fraud, it should exist, maybe the interesting thing would be a "Council" with the biggest holders of crypto evaluating and not the government itself.