Pandora's box opened: Gary can't close it, and he isn't happy


      To be a crypto enthusiast in this day and age is not easy. I have found friends and family look at you like you are selling something when you try to talk to them about it. I have tried every tactic I could think of to approach many different people, and most of the time you can almost see a shield go up in front of them, completely "protecting" them from what you are saying. It's almost as if you are offering them a glass of "Jim Jones" kool aid, and it gets pretty damn frustrating. I remember the hosts of the greatest radio sports talk show in history, Mike and the mad dog, laughing their butts off each time they would do internet ads. It was once in a blue moon at first, they would read an ad and actually be confused what they were offering.....Visit www.whatever and they would say..."I don't even know what that means". They openly called it a fad, their own advertisers no less, absolutely crazy!!! Four or five years later internet ads were close to 70 percent of their advertisers, and they admitted their mistake in underestimating the power of technology.

       There are a majority of people in the U.S. who right now are giving crypto the same critique as Mike and the Mad dog. They are sadly mistaken and have severely, once again, underestimated the power of technology. While the media continues to attack crypto, as well as the SEC and the White House, too may people believe the rumors and ridiculous stories about crypto. I have been told, "Crypto is used by kidnappers and drug lords to hide their evil doings", or "Hackers are always stealing bitcoin". I try to gently remind them that kidnappers have used every currency ever invented to ransom their victims and that no bitcoin has ever been falsely created, it is only people who gave up their secure private keys to their wallets who have suffered. Sam Bankman-Fried was another Bernie Madoff...a criminal. He stole investor's money and used it to gain personally and professionally. He belongs in prison and every asset he has accrued should be taken. 

      That brings us to a former "buddy" of Sam Bankman-Fried's, Gary Genslar, head of the SEC, AKA the crypto killing squad! Already Congress questioned Genslar over their relationship and whether the two discussed "loopholes" in the system. The SEC, however, is on the verge of not just losing one case against the crypto industry, but possibly three. Rumors grow stronger that Ripple(XRP) is about to win its case against the SEC, maybe even this week, which will be a huge blow to Genslar and a boon to crypto. Grayscale is also said to be on the verge of winning ITS case against the SEC over a Bitcoin ETF, which would be a monstrous victory. Couple those with Binance winning its case against the SEC over the buyout of now defunct Voyager, with a judge noticeably irate over the lack of direction and evidence from the SEC, and Genslar and his cronies have actually strengthened the entire projection for Bitcoin and crypto in general. Oh yeah...and throw in another partial collapse of the world banking systems and you have a Molotov crypto cocktail ready to explode with an impending bull market.

      I wonder to myself if the recent collapsing banks are not in someway lady Karma biting back at Gary. It seems she may be angry that he is trying to keep the common folk down. I wonder why Do Kwan is "wanted" by Gary and the SEC because of the Terra collapse, but the Silicon Valley Bank hierarchy are sleeping soundly tonight. I have no problem with them hunting Kwan, but treat the executive team at SVB the same way. The discrepancy is ridiculous and the transparency is beyond obvious, but crypto doesn't seem to have that one voice to stand up for it. Kwan's screw up was huge, but these bank execs cashed out big time in the weeks and days before the collapse. That's SBF territory. But the louder Gary Genslar barks, the stronger Bitcoin seems to get. That's the beauty of the whole situation.

      There are few things in life we can be totally certain of...death...taxes...and 21 million bitcoin. Even if the great Satoshi Nakamoto stood up and wanted to change it, too bad, your code doesn't allow that. Bitcoin is bigger than us all. It is bigger than politicians...it is bigger than jurisdictions....it is bigger than countries. Whales may be able to manipulate it, from time to time, like the stock market, but as time progresses, even the whales' strength  weakens. There is an arrogance in certain countries where they feel their policies can shut the system down, crash Bitcoin, but they are wrong. The world has already accepted Bitcoin. There are already too many holders. In fact most levels of holders, those for 1, 2, 5, 7 and even 10 years are at their all time highest. If the government wanted to shut Bitcoin and crypto down, they are about 5 years too late. This seed has taken root, and it is as strong as a black Walnut tree, slowly dominating its environment.

      If the SEC loses these cases, get ready, you have been warned, crypto will blow up. If Ripple wins, their token will grow by 10 x or 20 x , almost instantly, the XRP community is a very strong and long lived group and they are ready to pounce. If Grayscale and Binance win, forget it, the three will set the foundations for other cryptos to fight against the SEC. Even more ridiculous than everything else mentioned in this article, Genslar has announced that Coinbase, the largest crypto wallet in the U.S. , "may", be subject to a lawsuit. They give no clear reasons or path to become legit in the SEC's eyes, they simply create FUD. This is a pathetic attempt at clown Gary to hurt the industry for a moment. Keeping in line, Bitcoin dropped, for a bit, and then quickly regained strength, back up over $28k at the moment of writing this. The best part is that many of us have been hoping the SEC would go after Coinbase, realizing that Coinbase has a massive amount of money ready for a legal battle of the ages. Good luck with trillions in debt justifying a prolonged fight with a crypto giant.

         I have spent the last 3 years gaining knowledge in the crypto industry, how it works, and how to play the game. I know what's coming and though I am excited, I am hoping the "explosion" doesn't come too soon. The longer it takes, the stronger my position will grow. I DCA regularly now, watching the fluctuations in the market and recognizing key low points on the charts. But in the front of my mind is the want to share the understanding that has formed from research. When you read "the charts" and follow the path and patterns of not just Bitcoin, but cryptocurrency as a whole, you see the growth of the overall pattern. The charts not only point to growth, but to the potential of massive growth across the board. Sure, the pretenders will eventually fade away, as they always do, but there are hundreds of amazing projects that stand a chance to take root and sprout. How do you relay that information to loved ones and friends. I feel like I am on a lonely rollercoaster that I have to hide from everyone. I think it is why writing like this is therapeutic for me. I teach high school aged students and love when they come to me for crypto info, they, at their young age are at least willing to listen. My adult friends decided years ago that there was no way they could even objectively listen. At 50 years old I feel some pride that I am not so staunch in my positions. I will listen to what you have to say and then research on my time. Thanks for reading!

 

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CryptoMorelChef
CryptoMorelChef

I am a professional chef/instructor who has become obsessed with crypto. I have spent thousands of hours researching and love to teach what I know. I am looking for like minded people to create discussion and help band together in this crypto future!


To the moon on a crypto rocket
To the moon on a crypto rocket

A crypto trader's journey from first hearing about bitcoin to eventually trading dozens of cryptocurrencies. Understanding the many lessons learned, the expectations for the future and the reality of crypto in the United States today with an unfriendly SEC agenda.

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