Crypto: The Current Narrative & The Bigger Picture.

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Three days ago, the SVB fud was massively spreading, it felt like every time there was a decent upward push in price and consolidation, something happens and take us down. This has been happening since October 2022. I think this is the new reality of crypto, the SEC in the US keeps niggling and niggling, looking for loopholes.

The idea recently has been to add some crazy tax to Bitcoin mining, and as far as I'm concerned, this is a backyard way of saying we don't want mining of Bitcoin anymore. Although, this is virtually impossible. So even if they'll continue mining, why not let them do and profit crazily from it?

The SEC's ultimate involvement

Some entities in the US are seriously fighting crypto, it feels like the Voice of reason behind the tech (crypto) is seriously being rivaled. Now stablecoins are beginning to feel the heat. Now one thing about the depeg of USDC is not that the stablecoin actually depeg, the idea is to make people lose trust. We all knew that USDC was going to hit the peg again. But the fact that it lost that peg in the first place, creates a lot of mistrust.

Although many people do not see it this way. There are people who were using the opportunity to make money because they knew that hitting 1$ again was inevitable. However, some others were thinking that this was the beginning of depegs for anything stablecoin.

FUD: A Game Of Yo-Yo

The FUD that happened was just enough to take us scrambling down to 19.5k again, a place we were familiar with once again. So it's mixed feelings out there. When we're dipping hard, some actors see it as an opportunity to increase their stakes and some other people see it as a time to blame the tech, and sell their position for fear of going to zero.

There are people with many intentions in crypto and I was telling a friend yesterday that we need an outright six months of no drama, from any crypto projects, banks, or exchanges, for us to achieve some stability. This stage of stability will create certain assurance, a different mood, and fresh investments again.

However, I don't think this might happen.

The SEC will keep nibbling at crypto and stablecoins and this might mean that there's always going to be the possibility that we'll wake up every day to news, about what they're planning (SEC), and once again, we FUD hard and repeat.

So, in times of Chaos, this is when we begin to appreciate projects with a sort of solidity and partial immunity. We've been waxing lyrical about HBD lately, hell! I am waxing lyrical about it as well. Irrespective of our liquidity issues, I still stand by my word that HBD is the most exciting and promising stablecoin, with an amazing sweetener to go with it.

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HBD: A Joy To Behold

Although the fact that it's not been in the limelight might have given it a little protection, but this isn't to undermine the fact that in the world of stablecoins, HBD is a gem. Hive might have not gotten a lot of things right, but HBD is an integral aspect of the hive that we've gotten right and this has to count towards something.

Going back to Bitcoin, stablecoin, SVB, and the SEC, I see that a lot of people are rather looking to blame crypto instead of seeing the fact one of the biggest financial institutions in the US has failed. I mean, if it were to be a major crypto exchange, the US would have brought out their guns and weaponry in other to further emphasize how unstable and dangerous crypto is.

But here we've seen that the traditional Finance system is also fallible. I think this establishes the question "where is safe for money"? In reality, the answer is still crypto: hive, HBD, USDT, Bitcoin, ETH; and blah blah blah

There's no need to establish this discourse because most of the allegations against Crypto are mostly to establish FUD and we haven't helped either, especially with internal bad actors dangling a carrot for anti-crypto agencies to latch on to.

This has been the reality lately, but surprisingly, I still appreciate the fact that amidst some of the biggest challenges in the history of Crypto, here we are again, fighting and standing strong. Although, there's the possibility that we might dip badly again, but the response of the whole crypto industry is always marvelous.

Bad Actors & Their Inevitability

At this point, I think we need to agree that even if crypto is the future, we cannot misplace the possibilities of bad actors, bad projects, and endless human factors. The fact that always tout crypto as a revolution is why most anti-crypto agency thinks it's supposed to be Immune. I've had someone here tell me that there's nothing special about me or what I do here, and while this is actually the truth, untold expectations are why we think people, businesses, or projects shouldn't be infallible.

I mean this is a power struggle, it happens everywhere. Crypto is silently dealing KO's and people who hate the fact that it has come to stay are latching on to its frailties, and this is why we're here today. Nevertheless, if you're not building because of all these, I strongly believe you should start, these frailties just limits you, think bigger, think hive, think crypto.

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(PS if you want to lose faith in Crypto, Twitter is the right place to be. FUD is selling for cheap)

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