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Is this the end of Crypto Industry?

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Written by   175
1 year ago

Disclaimer.

This article is all about the observation and its own opinion regarding to the situations and status of the certain topic. Sharing the opinion and some of factual Information with reaction is not against on the humanity and rights. Please respect.

Well, base on my prediction in the past year (2020) that crypto currency will be under in the custody of the centralized principle which are the authorities and government.

Most of the politician especially trump and other in the dominant country doesn't like crypto movement, and it feels like it is against on the interest of the foreign policy.

I predict it, they will crack down the crypto currency and force it to be under and give shares on the government. It will be against on the motto, democracy and freedom of people's money.

Since trump post this. Lately 2019.

After I read this statement last 2 years ago. I predicted that in the future government will take steps to dismantle the crypto industry.

I got the conclusion that one day crypto industry will be force to be part of the centralized principle even it was a decentralized.

We've known that crypto currency has enormous benefits for people and it gives rights to do with their own money. But there are always a pros and cons on it that is why the government starting monitoring it.

What about the reactions of those enthusiastic people? ... Kindly comment your reactions

The beginning of the government campaign

First the XRP issue.

XRP labeled as a security, and the company was told that they violate the protection of the investors.

This issue that was tackle worldwide last December 22, 2020. Most of the enthusiastic persons was shock on that issue and some of them give their opinions that this is the time where in government will take its place against Crypto currency owners.

My insight on this part that if the XRP controlled by the SEC there is a probability that someday they will take over and handle all crypto projects and it will be forcefully under a contract or signed for a permit before they can operate.

Next, they will label the USDT stable coin as a security.

You can read the entire part of it.

The reason of the US Treasury labelled USDT as security. Because the government has an idea and they wanted to monitor the liquidity and protection of this stable coin to be fair and for the user benefits to avoid losses, fraud and scams.

Next the Coinbase give a tweet about the government's actions.

This part the crypto industry called as an anonymous market where in most of the people here enjoying their privacy and informations where in reality it gives benefits to those crypto investors to remain anon and their safety. Crypto currency gives most of profit while they storing their assets, unlike banks they rarely put high interest per deposits and capitals.

If the day comes out that crypto currency must under on the government monitoring. Crypto currency will get in trouble and they need to pay more tax since the government will put tariffs in the future. 

So, in this article. These are my insights and opinions regards on the situation that crypto industry faces. If crypto industry doesn't take it seriously. Probably they will centralized soon.

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Written by   175
1 year ago
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Comments

I hope this will never happen in the Philippines, many Filipinos right now are relying on crypto coins due to pandemic.

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1 year ago

Yes, i hope so. but the Philippines is one the freeloaders and scammers in crypto field. they greed in money, poor and shameful. but i would like to mention those people who working so hard in the crypto and not relying to scams and beggars!

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1 year ago

I'm not a writer, can I make money here? please directions 🙏

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1 year ago

Yeah definetly crashing since Trump tweeted his part, definitely 100% legit going down

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1 year ago

Yeah, they start killing crypto currency by labelling its as a security.

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1 year ago