Crypto greatest battle is about to start, get yourself prepared

The recent crypto market crash caused by Elon Musk and exacerbated by the Chinese government's ban on Bitcoin and the fight against the mining industry can be seen as a very difficult time in the crypto space. But looking at the reason for the Chinese government’s action could tell us that there is something powerful going on, which crypto developers and hodlers will have to deal with. Some people have concluded that China's ban on Bitcoin and the mining industry is a blessing in disguise, but I think differently. The reason for the Chinese government's action is clear. And if the Chinese government can succeed in curbing the use and mining of cryptocurrencies in that country, I see that that could make other national governments do the same. The nations of the world are always in competition in terms of innovation and technology and China looks to be at the forefront of this race.

Nations have banned Bitcoin before but there has been no fight against the mining industry. This shows that the Chinese government was not only trying to stop the use of Bitcoin in that nation but to eradicate the existence of Bitcoin. Bitcoin ban across the world has been a ban of their banks for dealing with crypto exchanges, which has done little to hinder the purchase and sale of Bitcoin due to the peer-to-peer nature of cryptocurrency. Nowhere have we heard of a government attack on the crypto mining industry other than this ongoing Chinese government action. China took the anti-crypto war to another level and I think more international governments will follow.

Governments and their central banks are looking at the blockchain technology testing process to save their dying Fiat money in the global economy inflation that is approaching with a national digital currency. China was the first to come out with digital currency and issued ATMs to citizens to use the said digital Yuan.

CBDC, central bank digital currency is not a cryptocurrency. No government would like to give the power of money to the people, they cannot create money that gives people control over money. Moreso, no government would like to create a digital currency that will be a direct competitor to Bitcoin and other cryptocurrencies. This is where the biggest anti-crypto war arises, and China has begun.

The idea behind the nationalization of digital currency was to combat the use of Bitcoin and other cryptos. If not, while they wouldn’t consider creating something similar to existing cryptocurrencies. The biggest onslaught against the use of cryptocurrencies is underway and everyone who Hodl crypto must be prepared. China has set the ball rolling and soon other nations will follow. The United States of America has indicated that it will research the possibility of creating a digital dollar. If that is true, you can imagine what scabies will be like in the crypto space if the US government succeeds in creating their digital currency. Already, people with crypto holding are banned by the US government with various policies and restrictions.

But why national currency when we have standard crypto that is as good as payment methods?

It is clear that fiat money is as good as dead and there is nothing the government can do to stop the continued decline in fiat money. Crypto seems to be the only way to save fiat money for ongoing devaluation, but the government does not want to lose control by adopting a legitimate financial system that allows anyone to do what they want with their money. There is therefore a need to build a similar system without giving control to the people. The government can make as much digital currency as it has been doing with fiat currencies. There is no limit cap to the CBDC.

Wealthy and powerful people who have stored their wealth in Fiat are looking for a way to save their wealth from the effects of inflation. Some of these rich people around the world have strong connections with the government and the big banks of their nations. They can influence the governments of their nations to be favored by the creation of digital currency to save their wealth from depreciation.

In addition, some of these rich people can be used by the government to promote national digital currency against cryptocurrency so that they can continue to be the sole owners of wealth around the world.

What should we be doing now to prepare for this future envisioned war with crypto?

There is only one weapon that can save the crypto market from a complete collapse in this type of war, and that weapon is the weapon of mass adoption of crypto. Adoption is the only anti-government weapon in crypto attacks. If 80% of the people in the world accept and use crypto in a real way no government can take away Bitcoin.

The adoption of a digital currency that worked to fulfill the purposes of money such as BCH will be the only way to win against the intentions of governments in terms of their digital currency. Be prepared for the future.