I stumbled again on a Twitter Spaces hosted by the U.S. Army. in which Gary “Security” Gensler was speaking. It was at the end of January 2023.
In this exchange, Gary Gensler says something very true to begin with:
“If something looks too good to be true, sometimes they really are”
Like or dislike Gary Gensler (and we in the community do not like him), we can only agree with him here.
It is even a golden rule for all investors. Don't fall for scammers who make promises that are too good to be true.
It's your money at stake and you will lose a lot.
The weakness of humans is simple: greed. It is greed that can lead you into the trap of scammers. Some people are so eager to believe that it is possible to get rich without doing anything and quickly that they put themselves in conditions that turn them into perfect victims of scammers.
Make the Bitcoin motto a daily habit: “Don't Trust, Verify”.
Never blindly believe what influencers tell you.
And obviously, I include myself here. I always tell you that what I tell you is only an opinion. My opinion which is necessarily biased since I am human and we all let ourselves be trapped by our emotions at one time or another.
Take what I say as something to integrate into your thought process.
I could of course be wrong, and never hesitate to contact me to share your views different from mine, it will also help me to move forward too.
That being said, I then heard in his exchange on Twitter Spaces, another very interesting thing.
Generally speaking, Gary Gensler defines three tell-tale signs of a scam:
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The cryptocurrency project cannot provide clear documentation of how it works or how it plans to achieve its goals.
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The project cannot demonstrate that it is compliant with regulations.
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The project cannot easily explain what it is.
For Gary Gensler, if any of these 3 signs alert you, then you should stay away because it looks like a scam.
I can't help but make the connection with the US dollar and fiat currencies in general.
Let's put the US dollar (or any other fiat currency) through the Gary Gensler revelator.
Question 1: Do you find the documentation of the fiat system clear? Either about how it works or how it plans to achieve its goals?
Personally, I would like to answer NO. Because the majority of the general public is not able to understand this system. Why not? To make it too complex to hide the reality from the people: it is an EVIL monetary system.
Question 2: As far as regulation is concerned, the US dollar has no problem being compliant, because, in the end, the Fed can change the rules at any time in an arbitrary way.
Central banks in general can change the rules of the game to their advantage and your detriment.
Question 3: The Fed will tell you that they don't need to explain anything to you because you have no choice anyway. The current system is imposed on you whether you think it is fair or not...
In short, if you stick to what Gary Gensler says, you will probably want to consider the US dollar or fiat currencies as SCAMS.
If you add to that the fact that central banks can print as much fiat money out of thin air as they deem necessary, I think you will come to your conclusion on the subject and it will be close to mine.
You need to preserve a way out.
For me, it's Bitcoin. And for you?
An excellent opportunity with Ledger
I keep reminding you that you absolutely must take possession of your Bitcoin's private keys. To help some people understand the importance of this, I even created a dedicated web page a few years ago: “Not Your Keys, Not Your Bitcoin.”
I also wrote an article last year comparing the hardware wallets offered by the two market leaders: Ledger and Trezor.
If you still haven't taken the plunge, you should know that Ledger is currently running a special offer as part of its “Ledger Safe Journey Offer” campaign to help more people take possession of their private keys.
Ledger's offer is valid until April 18, 2023, and concerns the Ledger Nano X and the Ledger Nano S.
Here are the details:
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Buy a Ledger Nano X and receive $30 BTC
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Buy a Ledger Nano S Plus and receive $20 BTC
If you still don't have a hardware wallet or want to buy a new one, Ledger's offer allows you to accumulate for free $30 or $20 worth of Bitcoin. This is quite interesting as we should be looking to accumulate as much Bitcoin as possible.
For those interested in this great opportunity, I suggest you take advantage of it by following my affiliate link: https://shop.ledger.com/pages/safe-journey-offer?r=49fc.
This will allow you to get a good deal while supporting my work. It's a win-win situation ;).
Don't take for granted the word of Bitcoiners who tell you that Bitcoin is an incredible monetary revolution, but verify it for yourself by developing the knowledge to build your truth about Bitcoin.
That's what I suggest you do in the book “The Truth About Bitcoin: Everything you need to build your truth about Bitcoin and stop trusting others without verifying.”
The book is available on various platforms:
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In P2P mode in PDF format or EPUB format with payment in BTC (-20% if you buy in Bitcoin): contact me by email at [email protected]
