Hey Cryptopunks, God knows you know we love ya. Thanks for freeing money from the state. If we make it. If not, thanks for trying. Thanks for the most likes eVAH last article, and for our first double digit downvote! Yay! please tell me what peeved you so we can figure out if that's funny.
Of all the dangers to Bitcoin - bugs, 51% attack, hacks, only one truly remains- the governments. Realizing they are losing their fiat money power, and striking back hard to cripple bitcoiners.
Looking around the world - India, UAE, France, first bitcoin is totally legal, all good. Next day, all illegal, everyone run for the hills. Later who knows? The US asks for crypto on form 1040, that is GOOD news, uncle sam is also looking forward to a giant pumping noise from the magical internet money!!! The flip flopping was scary, enough, and then - Russia and China did the same thing again harder. All legal, whoops all illegal, turn in all of your wallets. We don't mind places like Venezula banning bitcoin while everyone buys it - that's a net positive. And we love countries like Turkey going all in for BTC - it WILL pay them dividends.
But superpowers like Russia and China whipsawing like this really spooked us, until we realized - IT'S JUST THEM INSIDER TRADING!! Then we relaxed.
It's like the story of how all the mega million lotto winners are bankrupt, right? Seems depressing, until we realize IT'S A STRATEGY. Win 40 million, face the world clawing at you for charity, lose the 40 million in a blaze of stupidity seems to be the repeating pattern. INSTEAD, win 40 million, BORROW 20 MILLION MORE WOHOOO and THEN go bankrupt. We love it when a plan comes together.
Seriously. We repeat, the Bitcoin she no regulated. We wrote earlier of how the big 2017 pump was caused by Chinese state policy, 100% pure regulatory shock to a free market. Everywhere we read, the bull run was caused by altcoins. Yeah, but no not really. When China banned ICO's for a while, that surely synched tight to the start of the last climb. Then when China dropped the hammerban on Bitcoin, (all the miners flee) and the price tanks. Then Russia made similar noises - it's all good, NO!
Which was dark and gloomy to Bitcoin politics - until we think up a ray of light - what if we had a state sized bankroll to play with, AND the ability to dictate policy shocks from a superpower? Would there be any way in hell we would NOT, at least once, place a big fat juicy bet and then shock the monkey just as hard as we could? Damn straight we would. Now, in this blazing light, why did the CCP stop, or rather pause ICOs ( which are now running along happy as clowns again) ? Because the CCP's prize chicken needed a little more time to be ready to deliver THEIR ICO into the (timed) marketplace? OH NO, that would surely never ever happen. Because they are all good people. Only we would insider trade ( when we controlled all the courts in the land.) And surely no Russian ever thought like that.
So once this penny dropped, we felt good about Bitcoin's political outlook for a while. And quit worrying about it. It's just like when a New Yorker teaches you how to be mugged properly - always carry some cash, 20-40 dollars, give it up right away, don't look at them, ask them if they want to swap shoes. Stupid smart. Karma is the best revenge, all that mugged money goes for crack anyway, let it go. Bitcoin is a shining city on a hill right now. It is world changing like the Internet, and like the Internet, we began to expect miracles on the regular.
Stablecoins, on the other hand, look like the most Orwellian nightmare wet dream ever conceived. Welcome to Kafka's future torture by the Deep State. It's well beyond the actual ( once mythical, now technical) Panopticon we have already built for ourselves, where one person could be watching anywhere. This is one person can retroactively watch any person anytime. Want to know exactly where every penny you ever earned came from and went, forever, to discuss with whomever wants to know? Let's start with the exact spot you ever took out cash after local midnight ? (God no, please.) People used to say information wants to be free. Did they mean privacy will cease to exist? WAKE up.
Be THRILLED by the new push for everyone in the USA to have a digital account with treasury dollars. Because, ya know, you already HAVE that account, WHY WOULD YOU NEED ANOTHER ?? Because, ya know, the mightiest printing press in the world, backed by the millennium military, actually does have a lot to lose. Along with the smartest MMT monkeys (modern monetary theory, historically "paper-hanging") . Right now, bitcoin and the dollar are charging ahead together (amen!) but what if one got in the way of the other someday ? after we all no longer had any cash anyway?
The FT keeps printing articles about how the UK is considering a wealth tax, given the corona crisis. First stop, probably anyone with a nice house, next stop, anyone with a bank account ? Seems kind of a downer that the USA is looking to tax unrealized gains on Bitcoin. But, actually, maybe that's a very healthy milestone?
So, the political will of Bitcoin must be awoken. Organize. Send me ETH to organize for you. We need an amendment to protect freedom of digital assets. Any citizen should have the right to use whatever blockchain and wallet they choose. Taxes must be paid, but privacy is important as well.
Davi Gokhshtein is a known pro crypto party figure who is running for Congress. If ya don't love his competition, vote for him as a straight single plank crypto party ticket play!!!
He likes XRP but nobody's perfect.
Love & Bitcoin