Crypto Regulations On The Way
You want to talk about crypto but there is something that keeps your mouth shut. You don't feel comfortable talking about cryptocurrency. The government warns people that it is very risky to do anything with crypto. Even though you want to talk about it, you may hear knocking at your door. There is fear in the air and you can feel it.
In spite of seeing the potential of cryptocurrency and what can be done with blockchain technology, it feels like you cannot do much to spread the word. There is no sign from the regulatory authority. You hear things like all cryptocurrencies are securities, except Bitcoin. They will go hard on crypto. If you live in a country where crypto is banned, people avoid talking about it. No one wants to end up in jail.
Banning crypto can slow it down temporarily but it cannot stop crypto adoption. We have fiat currency and you work hard to earn that. But the value of fiat currency decreases. You cannot buy the same product now with a specific amount of fiat currency that you did three years ago. So who is stealing the effort and time you spent to earn fiat currency?
You are losing consistently with fiat currency. You can't go back to the gold standard where its value is inside the coin. Blockchain and crypto take the power away from the central authority. They will not let it happen easily. They will go hard to crack down on crypto.
If crypto is legal in your country, you hold crypto and feel good at least it's not illegal. But if you like somewhere where crypto is a big no, it feels like you are doing something bad. You are not doing anything to harm or hurt other people.
You don't lose what you earn working so hard. You want to hold its value so that it will not depreciate over time like fiat currency. Since it conflicts with the interest of the central authority because they lose control, you may see new ways to suppress crypto in a name of safety and investor protection.
Hope it will not take long to realize whatever they do, they cannot stop people from having their freedom. They will say it is not illegal to trade and invest in crypto anymore. They will be laws and guidelines since they see they cannot do much to stop crypto adoption.
So what do you think? Please feel free to leave your comments. Thank you for reading this post. That's it for now. I'll be back with another post.
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While crypto is not yet that well known here in our country, I hope we can continually use it without having to be regulated.