Not a Rule Breaker; A Rule Builder

avatar

gatewayarch.jpg

The most atrocious criminals in this world ironically don't break any laws. They make the laws, and they construct them in such a way that even if they get caught breaking them it's just a slap on the wrist and back to business as usual.

Crypto is flipping this governance model on its ear and allowing communities to be in charge of their own governance. The only ones who make the rules are the networks themselves. There is no other way to enforce these things other than getting legitimate consensus of at least 51% (more like 75% or 80% on Hive).

This puts the legacy rule builders of this world in quite an awkward position. Crypto used to be small enough to ignore, but now it's very obvious that it isn't going away. In fact, it is growing exponentially, leading the regulators to scramble in an attempt to control the centralized tendrils of the cryptosphere.

tentrilstentaclesroots.gif

Yeah, sure, government can control the likes of Coinbase, Bittrex, Kraken, and others. But as we can plainly see there are other centralized exchanges like Binance and Huobi that aren't so easily tamed. Add to this all the decentralized exchanges and platforms like Thorchain (Rune) and it's easy so see that this situation will continue spiraling out of control. The establishment is crumbling before our very eyes.

At this point government won't be able to follow it's own rules and the hypocrisy will be revealed at full strength. They expect to regulate crypto with laws that were written a hundred years ago. It's asinine and nonsensical.

In America, crypto isn't considered currency, because that would make it much more difficult to tax. Rather, it is considered property. But that's the thing about property, isn't it? It has low liquidity and you don't actually know how much it's worth until it's traded for something who's worth we do know.

For example, if I'm airdropped some random token with zero liquidity but the current value of that token displays a value of $1M, theoretically the government could come knocking at my door claiming that I owe taxes on $1M. Then someone dumps it and the value drops immediately to zero, because there was no liquidity to begin with. None of these laws make sense on any metric when we look at the outlying cases.


tentacletendrilmonster.jpg

We can't be surprised that government continues to do what government has been doing for generations: trying to consolidate power and control everything. Their actions regarding crypto show them for what they truly are: slave drivers. Citizens are a product of their country. They are owned by their country, and everything they do/build can be taken from them at any time, and we call it 'justice': icing on the shitcake.

cakelie.jpg

Again, crypto stops this from happening. There are going to be some wild court cases where people simply refuse to hand over their crypto to the government, or more likely will simply claim to not have access to it.

How hard is it to manage your money from behind bars? In the legacy economy, your accounts have been frozen and they confiscated everything they could find. On Hive, it's as easy as delegating your powered up stake to another account if you find yourself on ice.

People who are careful about these things can not be stopped. If possession is nine tenths of the law, and you don't incriminate yourself, and they don't gain access to your keys, and you have the money to hire a good lawyer... well, that all adds up to a lot of rich libertarians who will constantly flip the bird to government and actually win the battle. I expect the whole "taxation is theft" mantra to gain quite a bit more traction over the next decade.

Victimless white-collar financial crimes are dealt with very gingerly by design. Why? Because all the rich criminals in charge of this world want to make sure that their own circle is protected. The IRS is underfunded by design and given little access to the big guns of the surveillance networks put in place. At this point Amazon and Tesla have more power than the IRS. This is a pyramid of permissions, and with so many loop holes it's easy to get confused about how things actually work.

sellout.png

So I ended up cashing some crypto out to my bank account for the first time ever the other day. It went through a lot faster than I thought it would. Takes 5 business days to transfer from my bank to Coinbase. This withdrawal only took 1 day. Small miracles.

Of course I sold Bitcoin at the absolute low ($30k) and took a huge loss after buying at $50k with a stimulus check, so maybe that had something to do with it. It will be interesting to see if money coming in from other sources takes longer to clear.


buy the dip hammock parabola.jpg

You can't buy the dip if you are the dip.

People with deep pockets are FOMOing into Bitcoin something fierce over the last year. We are experiencing an intense supply shock, just like we do every four years. Things are just starting to get interesting.

However, it's important to point out that crypto is still very small. We are just a tiny spec flipping the bird to the legacy economy as they chuckle at the notion that they could be uprooted by such a ragtag band of rebels. How silly of these ants to think they could take down a lion!

Sometimes the underdog wins.

Isn't that what all these movies are about? Righting wrongs and bringing actual justice to the world? (And not counterproductive revenge cycles.) There's a reason why cop dramas are so popular. The world is broken and people want a story that tells them it isn't. The bad guy always loses; The good guy always wins. Crypto is that story, except this time it actually might bleed into the real world.

Conclusion

The bar has been lowered for Rule-builders. We are now all rule builders. Clearly, there will be much conflict and strife between crypto and the legacy systems in place. Expect friction to build and fires to breakout, specially when the mega-bubble fills/pops.

Posted Using LeoFinance Beta



0
0
0.000
28 comments
avatar

Sounds evil, but many laws are made to protect businesses from competitors. Not all for sure, but if you look closer, it happens around the world.

I think gov cant kill crypto, but they can control the door from fair ->crypto and crypto-> fiat.

And this happens years ago with some bank called Liberty Reserve from costa rica.

The difference today is, there are a lot of average people in crypto.

I would not wonder FUD 3.0 :), special after sec interview

Posted Using LeoFinance Beta

0
0
0.000
avatar
(Edited)

yeah law sound evil to some but is made to protect that's what I think at least

Posted Using LeoFinance Beta

0
0
0.000
avatar

law is nothing bad at all. Problems come in if companies and rich people buy some laws.

0
0
0.000
avatar

Exactly... law itself is not necessarily a bad thing, the problem is who is in control of them.

I think it's something similar to big data. It's an incredible thing but the problem is big tech has its hands all over it.

Posted Using LeoFinance Beta

0
0
0.000
avatar

Made to protect who, and from what? The vast majority of laws have nothing to do with preventing or punishing violations of life, liberty, or property. In fact, in enforcing most laws, they commit those very crimes.

0
0
0.000
avatar

yeah right law is for weak not for powerful

0
0
0.000
avatar

It will probably get ugly before it gets better. Still very much the wild wild west in many ways.


Posted via proofofbrain.io

0
0
0.000
avatar

That's true. I believe those who can keep their diamond hands strong when things get rough will benefit in the future

Posted Using LeoFinance Beta

0
0
0.000
avatar

The wild west is where we can find freedom. And at least with Crypto, there's no downside equivalent to trampling natives.

0
0
0.000
avatar

Most of these people are sociopaths. They create nothing of value but want everyone to listen to their false narrative. Last I checked there are more average joes then there are these politicos. This is why blockchain is going to eat everything. Even some boomers I know have had it with the BS. And when they start losing the confidence from this particular generation all bets are off.

Posted Using LeoFinance Beta

0
0
0.000
avatar

It will be interesting to watch this struggle. At least for once I'm pretty sure I'm on the right side

Posted Using LeoFinance Beta

0
0
0.000
avatar

I thought the gang would have crypto ready for utter mass adoption this cycle with their few crownie projects to lure the masses in.
Now I'm feeling it will take at least another bear market before they have the world ready for mass adoption. More time to build on valuable and sensible projects like Hive - yay!

Posted Using LeoFinance Beta

0
0
0.000
avatar

Indeed, and four years is a very long time over here in crypto land.

0
0
0.000
avatar

For example, if I'm airdropped some random token with zero liquidity but the current value of that token displays a value of $1M, theoretically the government could come knocking at my door claiming that I owe taxes on $1M. Then someone dumps it and the value drops immediately to zero, because there was no liquidity to begin with. None of these laws make sense on any metric when we look at the outlying cases.

This will definitely be a huge issue. One of the reasons why people consider those influencer scams happening because most of them can't sell out due to low liquidity but when the dumb people follow, they keep the price up or at least stable.

Posted Using LeoFinance Beta

0
0
0.000
avatar

I expect a myriad of legal tussles over the next few years. Things will definitely get more interesting as the space gets popular, best to brace ourselves

0
0
0.000
avatar

And we need to be ready to undermine every attempt at legal overreach.

0
0
0.000
avatar

I love that crypto is a bit of good news in a world gone mad. !BEER

0
0
0.000
avatar

The most atrocious criminals in this world ironically don't break any laws. They make the laws, and they construct them in such a way that even if they get caught breaking them it's just a slap on the wrist and back to business as usual.

Under normal circumstances yes, in a fully fledged abnormal country like Nigeria, the most atrocious criminals are above the law. Lol.

At this point government won't be able to follow it's own rules and the hypocrisy will be revealed at full strength.

Hmmn isn’t it already. We are already seeing it in many ways.

Enjoyed reading this.

0
0
0.000
avatar

I agree whole-heartedly. Well-written, and it'll be interesting to see how everything unfolds as time goes on. Thank you for this. 🙏

0
0
0.000
avatar

Crypto cuts the elites out of the game and makes them fall into their own mousetraps.

Posted Using LeoFinance Beta

0
0
0.000
avatar

You are right,the main criminal don't break law they even make law for people to abide and they are the people's that is ruling this country,how can this country better,and they are the one oppress the masses.i love your write up wish to across your way again.thank.


Posted via proofofbrain.io

0
0
0.000