We all know the FUD the mainstream media spread about cryptocurrencies the last three months. It is well documented what they were able to do to such a small market. The industry is still in its infancy, hence wide-spread, concerted efforts had a major impact.
That said, this is just FUD. It is not based in any reality. What people fear is a mirage. Of course, being reared in a world of scarcity, fear is the main weapon and a truly effective one. The masses rarely take the time to learn what is going on. Ironically, everyone on STEEM is involved in cryptocurrency simply by being here yet there are some who ignore the basics too.
One of the main pieces that was tossed around which got people scared was the potential of what the government would do. Fear that the government would step in and ban cryptocurrency was high on the list of many. Recent events show how preposterous this really is.
We need to understand that the government is just an arm for the banksters. They are henchmen there to do the elites diry work. Without the government, the banksters are essentially impotent. All their power is unenforceable without the ability to coerce at gun point. This is something the government provides.
The banksters are threatened by cryptocurrency because it has the properties of a financial instrument. In other words, it can be used as a currency. Notice I wrote "properties". Cryptocurrency is not a financial instrument but, rather, a technology. It is an application built upon another technology called blockchain. Cryptocurrency is no different from email which was the first widespread application used on the Internet.
This is where most people expect the government to step in. We all heard the FUD about what was going on around the world. One of the challenges is to define the government. In the United States, we often mean the Feds. While they have most of the power, there are times when other governmental entities go against it. Rarely do you see a united effort in anything.
President Trump got his panties in a wad over the santuary city status adopted by Berkley,CA. Now, I do not bring this up to engage upon a political debate. Rather, I want to point out what Berkley proposed when the President threatened to cut off funding to the city. The city considered launching a cryptocurrency ICO to pay for affordable housing.
In this situation, we have one government telling another government to F--k off.
Money is becoming an issue for many municipalities. In short, they are broke which is no surprise since most Americans are in the same boat. So what idea is being broached among these entities? According to Lafayette Parrish in Lousiana, the idea of creating its own currency to steer money so they can meet their budget requirements. This is the proposal of the Mayor-Parrish President.
Here is something else that he said....
“It’s not just a bunch of global libertarians that want unregulated, untraceable and secure digital currency transacions. It’s the recognition of global stakeholders that the world of banking, finance and payment systems is forever changed, that the world of healthcare, government and possibly every other industry is about to be disrupted.”
Did you read that? These words were not spoken by some futurist or tech titan. This is a politician talking about the distriuption in all areas from digital currency. This is incredible.
I must state that the United States government, thus far, has not interfered greatly in the world of cryptocurrencies. At present, the regulations are minor, mostly focusing upon ICOs. That said, if the Feds did take the approach that it would want to ban them, you already have state and city entities ready to fight.
Therefore, when we say the "government" who are we referring to?
Which brings me to this situation in Syria. The lines are drawn.
On one side is the United States with the backing of the Canada. Standing opposite it is Russia, Iran, and China. Germany opted to steer clear of this one for the moment.
Let the bombing begin.
With all that is going on, do you see the governments of the world doing the banksters bidding and uniting against cryptocurrency? Do you think that a realistic possibility? My view is that the U.S will take the opposite view that Russia/China take (and vice versa). It matters none if it likes the position as long as it can argue against the others. That is the state of geopolitics these days.
This is a major challenge since cryptocurrency is a technology. A great way to think about this is comparing it to water. Technology knows no boundaries. If it is "dammed" in one area, it simply will go to another. We are already seeing this. China bans exchanges, they move to S. Korea or Japan. Try to stop the miners and they move operations to Finland or Canada. Try closing of a network in one country only results in nodes being opened elsewhere.
In other words, there is nothing to fear. Cryptocurrency is a done deal. This is central to the Age of Abundance we are about to enter. We see more than 1,500 in existence right now with others proposed. Over the next 5 years, we are going to see thousands more created. Naturally, many are going to fail due to a lack of support. Nevertheless, as an industry, cryptocurrency is going to flourish. It is guaranteed.
And the reason? There is nothing to stop it. The banksters are impotent against this technology and their government hacks useless in the fight.
Remember, the more China and Russia clamp down, the more incentive that the U.S has to remain lax about it.
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