In these non-euphoric times (going on a good three weeks now) it's time to reflect I think. The Lambo-order is put on hold, and your friends and family is poking you and asking you with malicious delight how the crypto market is going - and coming with some standard sentences they've read in the mainstream media about how the "tech" behind is OK, but really nothing different than torrent sites..
Well, I'm no expert on the technology behind. But I do understand the basics, and I do understand psychology, markets and interruptive things. I'm a hawk on news, and I know how to navigate the waters. Let me be the beacon in your life right now...
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The road ahead
The stagnant market right now is in my opinion based on different things. First, it is somewhat responding to technical indicators and things that has happened in the past. These patterns often replicate, and that's why some traders are successful with technical analysis (and money management) as trading tactics. Second, we are halting because governments and traditional banks are stepping up the game.
We have country after country "striking down" but not actually doing much yet. We have "liberal" nations like France and Germany talking about regulations and bans.
And there are many possible scenarios.
They could of course just ban crypto trading, saying it is for our own good. Most people will at this point stand behind a decision like that - having no problems with that kind of violence. They are so used to it anyway. That way they can attract more developers and programmers to the state, helping them develop blockchain solutions that give them a larger advantage.
This is probably what governments and banks most want to do. They want the technology, but they don't want it to be a currency. The only problem with that is that blockchain technology is both. Distributed ledgers ARE currencies.
So they either have to implement a way to be able to tax all profits gained from cryptos, or they will have to try and stagnate/stop people from buying/selling and using them. The problem with that however, is that they know that technology and progress can only happen in a free market. Governments only inhibit progress with their regulations.
Regulations are only implemented to get what they want - which is what they need to survive - taxation. Taxation is just a way of transferring money from someone productive, to someone not productive. Non-productive people will of course continue to vote for governments, because they take money from the productive people and give it to them.
The battle
And this of course creates a quite hectic and difficult race for both sides. The world needs the tech to grow forward. But in order to protect the old system with governments and taxation, violence and theft must continue to happen. Cryptos makes that very difficult though. And this is where the battlefield is.
Will the free market manage to develop decentralized exchanged (Ethos, cobinhood, Komodo, Payfair etc) being run on Decentralize Internet like Substratum, BEFORE governments crack down on the larger centralized exchanges that people use now, like Binance, Bittrex, Bitfinex?
And even if we win that race, how can we stop governments and banks from preventing us to deposit Fiat from our traditional banks? If they want, they can halt withdrawals from traditional banks into crypto exchanges. Or they could make it illegal.
But on the other hand, that shows their true colors, Their true oppressive and fascist intentions.
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Going forward, I'm sure some countries will chose to do the opposite of others. And we don't need that many countries opening up and thinking completely different before people flock into those countries. Of course, the rest of the world will see what kind of heaven on earth that country will be, and they will have no other option than either locking down their country spewing out propaganda to tell their people how horrible and capitalistic it is in that crypto-country, and how great we are here according to this new poll we just made for ourselves.
I think it's important to be aware of the risks here. If you are only in this to make money, I would have some nerves. However, if you are in this because you are fucking fed up being abused and inhibited - and you've seen how much you've grown the past 6 months, year or couple of years - just because you had to learn how to take fucking responsibility for your self - this is much more than just Lambos. This is freedom vs oppression. Old system vs new not-system.
IMO this is more a ideological battle. Between the optimists, freaks, anarchists, weirdos and nonconformists, and the oppressive violent brainwashed people. Money is not that important. Make sure you have a great life regardless. Be easily adaptive. You have to live in a shack? Cool. You're a hobo now. Sweet. You're on an adventure.
It's not the Blockchain or Bitcoin that will change the world, but our way of thinking. Humanity needs to grow a pair and realize we don't need big corrupt government nor the crony banks who print money out of thin air .... nor do we need the top 1% rich & powerful assholes that are intent on controlling the rest of us!
Could not agree with you more. People need to start really asking themselves what money actually is. It is a system created by man to try to control any people who want to transact. It is centralized and highly susceptible to corruption.
Great post. In the future I believe that Cryptocurrencies WILL BE REGULATED by every single government. I am for the free market, but Wall Street and Central Banks are too powerful. Nevertheless, Crypto is here to stay.
Fully agree with the author!... This is why ZRX crypto token is among our top picks (we HODL it in our portfolio). . ZRX is the most popular protocol for decentralized exchanges (e.g. Radar Relay)
Awesome post man. To the enlightened the battle lines are drawn as clear as day.
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bitcoin is going to change the world I believe . not only bitcoin the concept of crypto is awesome.
Government should thinking about Cryptocurrency. I think.
Stay and hold, waiting for TO THE MOON.
bitcoine to the Moon and Beyond.great news.
the crypto.news is the best treading center.it is very good for us.
Yes am very happy because this is the first Good news I got this year..
I just hope this year is filled with so many good news.
You got a 30.08% upvote from @upmewhale courtesy of @scandinavianlife!
Nice post dude
good reviews.
The liberal governments that you mentioned are likely to follow the example set by China, namely, they will likely seek to regulate activities surrounding cryptocurrencies rather than ban them outright. Capital will find ways to grow and prosper, despite the the wishes of some governmental officials. Look to South Korea for an example along these lines. Parts of that government want to ban cryptocurrencies while other parts rejects that notion all together. Though I'm also no expert on these matters, following various developments reported by a number of reputable news sources leads me to believe that governments will likely seek to define exact nature of cryptocurrencies and regulate them accordingly.
The market is mostly drive by speculation at the moment. Once technologies start to mature and the environment starts to coalesce around key players, speculation will decrease and real long-term investments will begin. Those who play the long game properly will likely reap handsome rewards.
You presented a good and important topic, thanks.
Great post and bitcoin is going to change the world I believe . not only bitcoin the concept of crypto is awesome.
Nice post dude
In the U.S., I doubt they'll outright ban cryptos because wall street will want to capitalize on the markets somehow. We've already seen the proposed creation of BTC ETF's.
They'll surely create derivatives like this more and more in the future and wall street loves a good racket. They partially own and control our government (unholy alliance in my opinion) through their enormous campaign contributions and lobbyists so ironically wall street could actually save cryptos from an outright ban.
The government would be stupid to ban trading cryptos because they will theoretically take in tax money from traders with gains whether it's coin to coin or coin to fiat.
But I could be wrong about the US govt in this little rant...they're so dysfunctional they can't even pass a bill that allows them to spend the record amounts of taxes they're collecting right now...
https://www.cnsnews.com/news/article/terence-p-jeffrey/feds-collect-record-taxes-through-november-still-run-2018b-deficit
This post has received a 9.15 % upvote from @booster thanks to: @scandinavianlife.
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Governments will regulate when the public cries out for justice when too many people get screwed by scammers. They are waiting for this scenario to happen to act decisively. Smart governments do not wish to stifle innovation and are observing the growing impact of cryptocurrencies. Blockchain technology has the potential to raise productivity of interactions across many industries. This rise in productivity can lead to greater wealth creation and hopefully more even distribution of it.
We just have to remember how things turned out during the emergence of the Internet & the dotcom boom and bust. It will get untidy with crypto for a while. After the dust settles we will be at a 'new place' with new processes and efficiencies.
Pretty true, I had not seen it that way. It is generally thought that there will be a massive and simultaneous blockade, something unlikely, the market has always shown to create alternatives to the restraints of the State, and if politicians do not act sensibly, they will end up paying their error very dearly.