Scott Bissent will save us..,
FANS OF CRYPTO,
From the Regulation Boogey Man. NOT.
In fact Bissent is the 'Wall Street Wolf in Sheep's Clothing (Very Expensive conservative suits with a 'boffy hairdo' and designer glasses, enough to add more spring in the step of those swooning to these types.)
Bissent is really the 'pal of all fiat powered gambling addicts' looking to keep the US $ currency flowing into the BIGGEST GAMBLING GAME ON EARTH RIGHT NOW, fiat powered crypto currencies, all forms of naked shorting included.
Bissent is simply the current DS AND WS cheerleader to put a newer much more de-regulated fiat lending economy in place designed to place more usury chains around the populous and fuel more inflation and more erosion of buying power.
Bissent is no 'friend' of the average taxpayer/rate payer citizen of the USA.
This type of propaganda muppet is exactly the problem.
It's a 'head fake' for Bissent to say the 'enemy bogeyman' is reactive regulations stacked on reactive regulations. Don't fall for it, he is Deeper than DS.
THE CRYPTO ADDICTION REHAB FIX?:
TWO TIER TAX CATEGORIES FOR CRYPTO
TAX REDUCTION Incentives for the Hard Store of Value Class
vs
Higher Taxes for the 'FIAT only Gambling Class'.
What is needed IMO, is new sweeping regulation recognizing a healthy balance between the bankless and the banked, to in the former case give these latter case current legacy fiat addict (expand the money supply endlessly) banks competition,
where the bankless, who today make use of distributed banking tools remain not in their control and,
can have their money backed by hard basket of assets, not the rarefied thin hot air of fiat promoted by such bloviating types as Bissent.
ADDICTION DIAGNOSIS: CRYPTO IS BARELY CONSCIOUS, ABOUT TO 'OD' ON FIAT
The problem with MOST of the cryptocurrency space right now is that,
A. most of these projects are simply fiat sponge parking places at a casino table where,
B. the Big players and transaction volumes are all piloted by
C. Bot driven trading algorithms, moving a lot of re-branded fiat around, with
D. algorithmic controlled, lower predictable inflationary money supply generation models, which
E. are not linked to any form of hard stores of value but are,
F. Powered by Government regulations allowing private third party concerns, the FED and Big Commercial Banks favoured at the over night Window who
G. Arbitrarily expand the FIAT money supply to
H. KEEP The Wall Street Investment House Fueled with the FAKE Currency CRACK they need to
I. TUNE THEIR ALGORITHMIC DRIVEN BOTS to WIN against HUMAN investors trying THEIR LUCK at
J. RIGGED ONLINE CASINO TABLES called CRYPTOCURRENCIES.
the TAXADONE CURE FOR CRYPTO FIAT ADDICTS ?
Let's face it cryptosphere, the RIGGED part of crypto is what needs BIG reform in that we need to table:
A PROACTIVE CRYPTO TAX REGULATORY FRAMEWORK
Which is BINARY and, DEAD SIMPLE.
1. new cryptocurrency regulations should provide tax incentives to miners and node operators for validation to offset the costs of capitalizing and operating such hard store of value assets supported token/coin offers, which are making use of distributed #blockchain or #DAG public ledgers with transparent reporting are given an operational tax break,
Where as,
2. any of the pure casino play fiat only based cryptos should be regulated to pay a heftier 'gambling tax', because that is what they are, Algorithmic driven bot tended automated gambling online casino tables, May the best Algo win.
*****
Will the above cure human gambling in the crypto sense? No.
It will have never remove the control of partly inflationary forces built into the money supply (token creation) part of crypto but it will create in the case of the first class, a sound hard store of value foundational cornerstones on to which we can build a bankless economy that actually makes sense, with minimal erosion of buying power driven by the ups and downs of the real main street market, and not "Disneyland on the Hudson" aka Wall Street.
ANY crypto project TAKERS ?
There are a few crypto projects I know of that could be adapted to fit into the tax incentive models, XLM being one of them.
The others are likely 'diamonds in the rough', each of which would need some technical changes to creation of tokens to make it easier for developers to have the tokens backed by real hard stores of value that have true physical asset price discovery mechanism built in, something they are lacking at the moment.
Those candidate projects being imo, #ANT (Autonomi Network) and #FUEL (Fuel Network), and by association to the latter #CELESTIA (using the super high TPS, massively parallel #UTXO based Fuel #EVM powered Smart Contracts written in the #SWAY (rust-like) language or #FVM ) .
For those readers out there, let me know of any others you might think in the former tax incentive break category I am proposing and I will do a bit more research out there.
For sure, the current mouthpiece muppet #Bissent and his Wall Street Handlers are looking for more FIAT Currency Crack to Feed their ever expanding ROBOT Piloted, Algorithmic driven #GAMBLING HABITS in the casino halls of the cryptosphere.
That makes Bissent no pal of crypto, he is just feeding the addiction of the few to enslave the many with more usury while shrinking their buying power more and more (with too much FIAT everywhere).
As always leave your comments below, I try to respond to all of them in a day or two, in between working at a real job.
TK over and out. ;)
PS- the #BTC crowd is inching toward supporting the EVM SC space @ scale, more and more everyday and that makes it easier to have such SCs, maybe even having FVM (FUEL's EVM running SWAY(rust) SCs) in theory, directly on top of BTC as an LC contract one day, where those FVMs (really high capacity TPS) are actually attached to hard stores of value, secured with BTC Security. That's my current " #ERC-20 retrofit" SC pipe dream. ;)
