well it finally happened to Crypto. Like anything, if by your (collective) actions you back anything or one into a corner, it or they will fight back. Politicians and "Vested Interests" are no exception in their latest defence of the current world of fiat and the almighty US dollar. (The latter two players mentioned go hand in hand these days, more than ever, where as the US dollar is the leader and heavyweight champ of the fiat world of payments and settlements)
https://www.thedailystar.net/opinion/open-dialogue/news/are-vested-interests-influencing-our-economic-policies-1743460
Such reaction generally, is a base survival instinct originating from the medulla oblongata, the lizard part of the brain, which says in such situations, survive at all costs.
Change which does not benefit you directly is in most cases always perceived as bad for you, if it's immediately threatening your livelihood or future prospects, well naturally you don't endorse that change, and if the change is imminent, most will lash out in "counter offensive" actions, sometimes physical, often the response is some passive aggressive form where such actions defend against the oncoming change. (The "enemies in the shadows" thing)
So such a reaction, as described above, most would say, is one step up from pure 'Savagery' (cannibalism in a lot of people's books, war in others.)
THE HEAT IS ON, As the "G" Men circle the crypto camp, looking for fault, and a way to co-opt the whole movement?
Judging from the last two weeks of US Congress and Senate political bluster about Libra , #Bitcoin ( #BTC ) and Crypto in general, it seems the Politicians and their "Vested Interest" sponsors promoting the status quo (Trump included) are reacting with the lizard part of their brain. Or are they?
There is an argument, (likely valid for most of the political players) they are in a stage of early education and just don't know what they don't know. This is far less likely the case in their sponsor's understanding of crypto and its move from "store of value", as mentioned by Powell (the guy that runs the privately owned Fed for his FIAT Masters, all of them Large banking concerns with a seat at the Fed board, deciding the volume of money printed)
Since the US President is both an accomplished business man, carrying his losses legally forward like anyone to avoid taxes, and a consummate politician in a Teddy Roosevelt like blustery style, it's more than likely he knows exactly what he is doing. His base of supporters from "further right than most people like" (or at least how they are painted by the main stream media) are for sure miffed at his latest pot shot at crypto and more than a bit pissed, since many of them are in the crypto currency market.
In response, the crypto alt media have publicly chirped, gabbed and tweeted their dismay loud and clear criticising the President's last crypto tweets vowing to switch parties AND, in the process they have all been made and measured. (As the French would say "Something to think about, No?)
Sure some of those crypto voices will be forced to reveal who they really are politically. Those "swing" votes, if you like, are swinging left to find some candidate which is centrist and liberal. Well they are "SOL" (sh*t outta luck). There isn't one single candidate on the left side of the political spectrum that fits, not a single one.
So no place to hide now. Time to pick a side. (And choose carefully)
THE CRYPTO MADNESS GAMBIT: A repeat of Reefer Madness by the Fiat Powers?
The whole crypto situation in the US (and worldwide because everyone is impacted by what goes on there) reminds me of a distant time in history where the natural fibre industry of hemp and flax was threatening to grab a bigger market share of the auto industry in the production of interior panels (since now dominated by plastics and the oil industry) and exterior panels (not largely dominated by the steel and plastics industry giants).
It was pre-World War II and the middle of the depression circa 1933 or so.
Henry Ford had developed hemp and resin composite panels for the exterior panels. Needless to say Pittsburgh and other steel towns were not happy. Ford got the deal he wanted from the steel makers, and the Politicians banned hemp by 1937, all 150+ varieties, where exactly one specie at the time had enough THC to get you high, to ensure there was no repeat of such levered audacity (against the "vested interests") by such innovative entrepreneurs like Ford.
As a result the hemp industries and related farmers were bankrupt overnight and thus began the mass exodus from such farms to the cities (think prairies in the USA and Canada. Later there was no more rope to sell either by the 1950 when polypropylene (floating rope) replaced all the hemp rope supply in many cases (The old expression "go smoke a rope" had meaning back then if you could find one with a enough THC). This shift in material use to produce automotive panels and plastic rope was a massive shift of wealth from many farmers to a few "vested interests, a shift that has repeated over and over again to centralise most wealth among the few at the expense of the many.
CRYPTO MARKET MESSAGE UNITY: Educate your Local, State and Federal Politicians
The crypto market as a whole has reached the work in the road. It's time to action and put your well earned crypto where your political mouth is focused. Left or right it does not matter.
The Political side of the spectrum that believes in individual rights and freedoms should get crypto, and crypto (in many different forms) having an eventual use as legal tender for many types of business transactions.
All politicians need to know today crypto already works better than fiat for settlements, it is faster, cheaper and has an audit-able single source of truth which is immutable (can't be changed) on the distributed public ledger whether it be public or anonymous (get a court order with real proof to audit the latter). Plus there is no arbitrary money printing.
WATCH OUT FOR THE HEAD FAKE: Crypto Donations to Politicians may help to tip the playing field in Crypto's favour, however..,
https://www.davisenterprise.com/sports/mistakes-missed-tackles-do-in-aggies-27-17/
Politicians as we all know, are all 'artful dodgers", some with silver tongues, others with "behind the scenes" moves, where money talks and BS walks, in order to get them to do anything. So there is nothing better than a donation to to strike up a direct conversation and educate a politician quickly about crypto.
If on a whole, the crypto market does not take action in this regard, IMO it's a huge, missed opportunity to both educate the politicians AND the electorate.
The fact is $300 Billion of fiat market capital has been generated to date (yes largely by speculation) AND crypto also has grown the shadow money supply in many countries suffering from hyper inflation to help real people on the street get by in these toughest of times. (Think #Dash Daily Dollar Volume of micro transaction use and Venezuela to keep the average citizen with clothes on their backs, pay the rent, heat and light the home and stay fed. No mean feat when facing thousand per cent inflation)
Speaking up now with your crypto donations to your favourite politician will get you an audience and time to deliver some basic education, and that my friends will go along way in keeping Libra from happening and, also point out to the entire political scene there is IN FACT away to escape impending FIAT MARKET DOOM (as we have run out of real wealth to support the leverage position of the banks necessary to keep loaning everybody cheap money with near zero interest rates).
Donating to your favourite politician to strike up a conversation about crypto also keeps Libra at bay, so you don't miss the head fake, which is more regulation always favours the big companies like FB, MC, VISA et al, instead you take their move head on latch onto their centre of gravity (money) and complete the tackle. :)
THE BIG SWITCH IS HAPPENING.., let's do it together with less chaos
The " #BIGSWITCH " as I call it, is well underway.
Great but what does the BIG SWITCH actually look like?
It's really our BIG switch of our own daily payment and settlement activity off the current fiat payment and settlement networks (VISA, Mastercard, PayPal, etc..,) we use today to a more inclusive hybrid set of payment and settlement networks which accept many stores of value characterised by many types of crypto_currency, and other commodities of value, all tracked on a mathematically controlled ( no people meddling) distributed public ledger which may or may not be publicly audit-able at anytime. (The other public network is really one that protects your anonymity and privacy, like #Monero, or #Cardano and requires a court order with some proof behind it to get a judge to force an audit)
TK note- There are "other" distributed ledger in the enterprise space, often called private ledgers, like "Hyperledger" which are used to create private crypto like JP Morgan's coin used for private bank settlement. These networks are anything but transparent, and are audited under the rules of those that own and manage the distributed ledger. IBM pushes this big time into the Fortune 500 enterprise markets so don't get fooled when such companies subscribing to IBM and Hyperledger come out with their own tokens and cryptocurrencies.
BUILDING A FAIR AND JUST WORLD OF BUSINESS, BUILT ON MULTIPLE CRYPTO_CURRENCIES, HARD VALUE STORES, AND PUBLIC "BLOCKCHAINS"
The new world ahead of us will be a hybrid payment and settlement network of networks facilitating settlement and payment between parties with many dissimilar stores of value, and have many stores of value which are interchange-able via special "inter-blockchain" distributed public ledgers like #Chainlink.
The BIG Switch is just that, a payment and settlement network switch. The Big Switch, which is now underway, is worth repeating one more time as it sees all of us " switch our daily to a hybrid market of "hard stores of value" co-existence where crypto, gold, silver, precious metals, valuable commodities, stored energy and even well managed fiat money supplies (In the case of the latter, are their really any fiat currencies today which are well managed? Given all of them are coupled in the US dollar in some way, I doubt it very much.)
The big Take Away in the BIG Switch IMO is all of the stores of value, regardless of type, will be quite liquid (lots of conversion pairs, which can be converted quickly at low cost) and interchange-able in a transparent manner as multiple linked, distributed blockchain with transparency in the public or privacy/anonymity sense.
CONTROL THE CRYPTO NARRATIVE, locally and, Control how our new hybrid payment/settlement networks will unfold & benefit
DONATE a bit of your CRYPTO & DIALOGUE with your Local Politician, do it today, create more crypto awareness and educate in the value and uses, so we all stay in the driver's seat, otherwise we all end up "taking the other fork in the road", and it won't be pretty.
Your sovereignty as an individual, and an economic freedom from the slavery of fiat sapping your buying power daily depends on it. ;)
How do you know when you have won? IMO it will be when many different cryptocurrencies (representing many hard stores of value) are available locally for use as legal tender settling payments on distributed public open and anonymous ledgers or "Blockchains", and the governments on all levels, are eVoted into power and out of power, using distributed public ledgers to measure the vote and thereafter manage their budgets spend transparently for all voters to see anytime, anywhere in real time. :)
TK over and out
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