Not long ago, various cryptos collapsed, exchanges went broke, banks failed, and the cryptosphere screamed that they weren't going to trust such establishments again...
Fast-forward a year and a half and we see people practically begging for clarity in crypto by governments worldwide.
Why did people forget that the government was a major part of why this space got it's legs cut out from under it?
Some have said that it's short term memory loss...and others say because crypto can't do crypto well, so the regulators need to help it along.
It's the first one, obviously, and for good reason.
The Luna fiasco started it all, and I believe that some government agency that held a ton of it, dropped it on the market to start their attack on the one thing they hate more than anything...stablecoins.
If there is one thing the little crybabies in government talk about the most, it's stablecoins, and how they hurt the US dollar, and bring instability into the system.
See governments don't have short term memory issues like the people who voted for more of the same lunacy year after year do.
Ever since Luna, it's been one thing after another, after another, after another.
FED chair Powell's buddy Michael Carr hates stablecoins as well, and was probably responsible for SVB, and the other banks that held tons of USDT on their balance sheet, to collapse.
It was probably in the works for the banks to "fail" when in reality, it was by design.
And REMEMBER, they were crypto friendly banks.
So, why are people trying to be friendly to entities that want them destroyed?
As I said before, it's fear and uncertainty, and doubt. FUD. But this isn't the kind of FUD that causes people to sell all of their coins...
It's the kind of FUD that comes from government forcing regulation down holders throats.
Instead of being the anonymous internet maverick living off crypto giving the government the middle finger...
It's fearful boys and girls not wanting to make waves asking to be KYC'd so they can pay their "fair share" of taxes on their crypto.
They are in fear of going to jail because of losers like Gensler who want to destroy their freedom telling them that they were bad for being anonymous, and good for wanting regulation.
People give up their freedom for security, and in the end unknowingly destroy their own future, and the future of the rest of cryptodom.
Regulation isn't to protect anyone...it's to keep you under their thumb, and in poverty.
If we can't regulate ourselves, and take responsibility for our actions in this space, knowing there are bad actors out there ready to take what they can because we don't protect ourselves...then we get what we deserve, and probably should leave.
Remember this...no one will protect you better than you will.
That's all for today...
