Anyone who follows me will know how often I post about Crypto: practically never.
ₛᵤᵣₚᵣᵢₛₑ!
Not so much crypto itself actually, but I'm finding it very interesting to watch the behaviour in two things currently doing down in America and the parallels between them.
I'm not much into politics but I do believe in what's right and fair and in the public interest, especially when it has knock on effects to the rest of the world and all of us peasants. Currently I am keeping an eye on the whole SEC vs Ripple case, including the Ethereum free pass speech, the documents that have just been released and how that may affect the market. What does that have to do with Hive? Well, it may not directly have anything to do with Hive, but we all know that the BTC price fluctuations have ramifications for all the other tokens/coins/securities whatever the f*** you want to call them, nobody really seems to know at this point and that's why I think this case is going to be, well, at the very least, entertaining, if not informative. We've had such a dead sideways market for so long, the recent up and down swings have at least breathed some life and emotions into the space again.
Gary Gensler raised the hackles on my back from the moment I first saw him. If that's judgmental of me or biased, then cool, I can live with that. What I did find very telling was how much flip flopping he's done over the years. He can't have it all the ways, but oh boy is he trying. The Hinman documents that came out have also been quite the scream from what I've seen of them. No, I haven't trawled through the thousands of pages (yet). Ultimately it's going to go somewhere but then, at least we, the supposed "hucksters, fraudsters, scam artists and ponzie schemers" as he likes to label all crypto enthusiasts might actually get an idea of what the hell is going on. We're all just as confused as the Senate it seems.
Mr Emmer, Davidson, McHenry, Huizenga and Mrs Wagner have asked great questions and not received particularly clear answers from the "honourable???" SEC chair. I have other words but I won't use them here.
These things take time, sure, but it's nice to see some stuff finally coming to light. He's been accused of allegedly shorting BTC just before the SEC sueing Coinbase and Binance. That will be a first (no, it won't, that was sarcasm).
So the parallels I'm seeing is that this reeks of corruption and I'm not in the slightest bit surprised people are jumping to the conclusion that he's captured because he's changed his story so many freaking times already.
Sound like someone else high up in the US? Just amazes me that even when dodgy dealings and schemes of payoffs and bribes start coming to light that nobody wants to hear it. How many high ranking people were invested (and shilling) FTX without asking the right questions? We all know how that turned out. The part that irritates me is that yes, you're going to have bad apples in any industry, but there are often bad apples who are playing the supposed "good cop" too, claiming to have the backs of the public at large. This is very rarely actually the case.
If nothing else, the market is doing something again which while it sucks to see the plummets; perhaps in the long run, there will actually be some black and white understanding.
Members of the senate are calling for Gensler to be fired. I'm with them on that, if for no other reason than the fact that he's been playing with double standards for years and there are definitely conflicts of interest involved.
What are your thoughts? Do you think we'll ever see a bull market again with all this drama unfolding? I'm keen to know other people's opinions. What do you think of Gensler?
I think it’s all sadly just obfuscation to keep people confused and downplaying crypto as a whole. I was trying to get my dad to invest a little bit into bitcoin through his retirement account, even if he did 1% he would be better than not doing it. He said absolutely not it’s going to 0$ and not real. Yet he’s heard me talk about it often enough to know a little bit about it and how it’s potentially beneficial long term. I think this is a ripple (pun intended :D) effect of the shenanigans.
I haven’t kept up with the lawsuit in about a year but the evidence that he’s given the Eth side a free pass was pretty overwhelming. I’d be curious what site(s) are you using to read about it? I could use some light reading here and there!
Hey @cmplxty
Thanks for coming by. You are spot on, I think that confusion has actually served them well up until now. They see-saw between "All the laws are clear" and "I can't answer that because there's no regulation" so often, it's like tennis.
We can only let people see on their own sometimes. I personally don't believe what your dad does (about Bitcoin) and we all have our opinions. If he's not willing to take the risk then that's fine, but then he can't later regret the decision if the opposite happens and he's missed the opportunity.
I follow many channels on YouTube (the digital asset investor is a good one) and I watch the hearings of the senate. I find that videos of people like Gensler and the others involved talking confirm that the words coming out of their mouths are theirs, they can't later say they were fabricated. As for the emails and documents, many are available in Google images now if you search "Hinman emails". Go have a look, there are some eye openers for sure.
All I'll say is that Gensler and the SEC are annoying AS F*CK, and whatever their plan is, I don't really see any "pros" in there. Whatever the fuck the reasons may be, I say he's just trying to keep his banker friends safe, to not face any competition, until they come up with something of their own.
Also, Gary reminds me of this guy, he's like a real life version.
Absolutely with you there and yes, Gensler and Mr Burns do have an uncanny likeness don't they? Not the first time South Park has got it right.
The fact that he can't answer a simple question without trying to beat around the bush really irritates me, but it was quite fun to see him squirming while being questioned by Congress. Thanks for coming by, I hope you are doing well Riz.
I can't decide, does he actually have the balls to beat around the bush or is he just dumb?
If I was in front so many people speaking publicly then I would never be able to lie. I'm guessing it's a bit of both, he doesn't know what he's talking about, while also holding onto his balls of steel so that he can fuck with crypto with confidence.
I'm doing alright, Emma, surviving as always.
How've you been? Hopefully life is treating you well. ✨
Hahaha I think he's actually a coward who is trying to wiggle his way out of a sticky situation. We'll see what happens, he got grilled hard by the Senate.
I'm glad to hear you are well. Me too, still surviving.
Have a great weekend 🙂
Same to you, Emma. 🖤
I'm hoping that this'll be a cool and chill weekend, it's necessary at this point.
Cheers 🥃
Lol, I just realised I said South Park 🤣 Sigh, I'm sorry, I'm an idiot. You know what I meant.
Simple mistake, no biggie. We all know it's the Simpsons, cause no other cartoon has such goofy yellow characters. 😂
I don't talk about crypto too. And it seems these days there's so much to say due to how consistent the dip is. I really hope to see the bull market again because these reds really are damaging to the eyes.
I don't know much about Gensler but he sounds really shady and people do deserve better.
I know, I feel the same. There's FUD wherever you turn, but I'm still optimistic. It's a good time to buy Hive, so that's at least a plus 😁
Go look at Riz611's comment below, that is Gensler to a T.
Let's see what all this shakes out. Thanks for coming by @jhymi