Topic: A comment about cryptocurrency that's stuck with me (Read 195 times)

To some extent, this is the correct wording, more precisely, people have a slight dependence on cryptocurrency, but I would call it involvement or a hobby, and a person who is so confident in what he is doing never turns back.

It is better for those people to not enter in this market and the reason for this is really simple, they simply do not have what it's necessary to hold their coins for the long term if they get scared over something so small.

Something that is really easy to understand is that if you take the time you read the posts of the people that have gotten the most success in this market you will see that they are completely convinced by the technology behind bitcoin, they are here not only to make money, they are here because they believe that bitcoin is going to change the world and anyone that doesn't have that kind of conviction is probably going to lose money and they are better off investing in other markets.

And so centralized cryptocurrency exchanges/custodial services, the bridge that connects crypto and regulators, were used as a tool to bind those living on the clouds with the laws on the land.

Although all you said are some what true still we have alternatives. Just that they're not as popular as the centralized ones that requires your KYC. For every centralized platforms out there, there's a decentralized platform that can give you similar experience and sometime even more pleasant experience than what the centralized platforms gives.

We have decentralized exchange that don't require KYC to use them. You can use that instead of the centralized one. We have decentralized wallet provider better than the centralized one. Infact I don't understand why anyone will use a centralized wallet. While the law is been too strick with the industry is because they're afraid of its potential.

The statement by the OP is quiet true. This industry offers the privilege to experience what the government has taken from us which is the sense of been in control over our finances. Without the introduction of Bitcoin, I don't think that would had been possible.

It's like the wind that we can't see with the naked eye, but we can feel the coldness of the wind, the philosophy that always comes up is that we must be different from others, but other people must follow us, interesting if we explore deeper, they secure themselves beyond the reach of human thought.

Likewise their Cryptocurrencies are described as majestic and holy palaces, far from inaccessible human sight, we can interpret every meaning of this philosophy, when they describe a sacred and distant place. "Never try to touch or fight it".

That's kind of the image they want to convey to people, we are strong, we are reachable but we cannot be defeated or possessed.

Actually that's the point, crypto space isn't as separate as many pundits make it out to be.

I disagree though, we are all connected still, even if we are in crypto sphere. At some point there will be governments that will put regulations around, hence there will be some sort of control coming from them.

Yes, we do enjoy some freedom because we have total control of our crypto and there are not third party, we are our own bank. However, since adoption is not there, we still need to convert it to fiat and that's where the government enters. So we are not separate, all the pieces still ties in.

If that quote stops you from investing then you miss a lot of opportunity and for me, you’d better to focus on buying now because the market will continue to rise and those who says negative things about cryptocurrency will miss a lot of things. Imagine if you invested since then, you already made a good profit for sure.

I actually thought:
Even the clouds are still part of the earth. Even though we are different places on the clouds and also tread on the earth, we are still in one scope.
Well here, there are indeed some laws that cannot touch Crypto, but that does not mean everything is free.
Because there are some things that can not be decentralized at all.
And living on a cloud also needs special attention, because if not, we can live in danger

It is true that there are many people that handle themselves in a way that make it seem as if they are above the law but the majority of the people that are in this market do not behave that way and the only thing that they want is to be able to use their money in a lawful way but without having to report every single transaction that they do to the governments.

And governments do not want to do this as they want to have complete control over how you spend and how you use your money and to me this is simply unacceptable, but regardless of what they want we need to wonder if they are going to be able to get to that point? And to me that is impossible, they will never be able to regulate this market because it was created specifically to resist their regulations.

At some point, there is a valid reason why they say it. Other people who use cryptocurrency thought they are free from the regulations as decentralization made them think they can be poweful with the use of it.

But governments now are doing their best to implement the law regarding cryptocurrency use as they think this may lead to uncontrollable situation in the future as technology rise so fast.

Great comment, if the governments actually held the end of their deal and did not intervene in the economy at all then there will not really be a need for bitcoin and other cryptocurrencies, but since that is no the case then people that understand what is up have decided to support bitcoin.

And the only reason the rest of the world has not followed suit is because they are ignorant about this reality, but once governments force them into poverty and steal everything they have saved over their lives they will have no option but to learn about this market and will decide to use it in a heartbeat.

You can say it like that since not all people use cryptocurrency or not all people in the globe know about bitcoin. I even know person where he knows what bitcoin is but didn't know it completely or didn't understand how it works completely. This also explains that it is more free than the centralized fiat currency in my opinion.

Hard truth not many want to digest. We're kinda doomed, and they're telling it right in front of us. You will own nothing, and you will be happy they say. This phrase is what their plan is, and they are going to try to apply it. And people are now so dumbed down they'll probably succeed with this plan as well.

Yeah, we're separate from the earthlings. Separate isn't equal to negative tho. We're simply not willing to obey to stupid rules that make the poor poorer and the rich richer, the rules that want us to be under constant control and under wage slavery. And that's imo actually a positive separation from the rest of the world who just don't care.

I have a different understanding about cloud. Because there's no such in existence if we're going take it context per context. The fact that we're truly thinking that we're in a different world, it's because of the people that are against it.

They're not open to the embracement of it because of the taboo and negative things that they've heard when there are topics that has been brought about cryptocurrencies.

I have to say it is not a good analogy, not a good comment. Bitcoin people are one of the most regulated markets in the world if you follow the law, but since it is not really open to public unless you do KYC then there is a chance you could avoid law but in fiat there is that chance as well, you could make millions of dollars and not pay a single tax, look at all the billionaires and how little tax they pay, look at panama papers and see how they avoided paying taxes on tens of billions of dollars worth of money. So, it is not just about crypto, it is about everything, in fiat you can avoid the law as well or at least try to avoid it.

In crypto everything is so regulated that you have share your KYC with everywhere, even the gambling casinos, there are thousands of casinos in fiat world where you do not have to share your KYC, in exchanges in casinos, in many things you have to share your KYC. That is how much regulated crypto is and that is why law is not absent in crypto.

A really deep quotation, and I can say, I agree with it. When I open all these charts, when I investigate projects, I forget about reality, I live on the Internet.

Moreover, in crypto land we have our own laws. Nobody restricts us. We are responsible for our decisions, so it is our world that is separate from reality.

True, the people who live in the castle think that they are separated from the earth, but in reality they are still on earth and are still bound by the existing laws. Want to change things for the better, but not strong enough to fight it.

The problem is that real economy build on "earth" together with " the laws of it" is build on lies and scams. How else would you call this:

1- give us your gold please we will give you paper backed 1:1 by gold. That will be easier for you - https://en.wikipedia.org/wiki/Gold_standard
2- give us rest of gold you have or you will go to prison - https://theconversation.com/how-the-us-government-seized-all-citizens-gold-in-1930s-138467
3- your paper is not backed 1:1 with gold but here is more paper for you- https://pl.wikipedia.org/wiki/System_z_Bretton_Woods
4- your paper is not backed by anything - 1971 (the "Nixon Shock").
5- we give you more paper ($$)
6- Oh... you have some savings? We set fractional reserve to 0% so that even banks can print as much as they want https://medium.com/navigating-life/we-just-went-from-fractional-reserve-banking-to-zero-reserve-banking-and-its-a-pretty-big-deal-c501432e9be6
in future:
7- (started in Japan) we buy companies using our "fake money" inflating your savings - https://www.japantimes.co.jp/news/2020/12/07/business/boj-japan-biggest-stock-owner/
8- You will own nothing. No matter how hard you work now and how hard all your ancestors were working building wealth for grandchildrens and great-grandchildrens.

Your ancestors spent their entire lives building wealth  in gold? We robbed them in 1930-1970
You and your father have spent your life building wealth in dolars? We'll rob you of everything using inflation
Your son and grandson will spent life building wealth in new economy? They will rob them too...

Do we really want to play this game? Its not that we dream here (castle built on the cloud) . We desperately want to wake up from the "raft floating on lava".

yeah! i would really agree with it and that is what we called Cryptoworld because its different in ordinary ways of living. The great innovation, the computer generated system and Hi-technology makes the world more easier to live. But because of the laws which are against the government policies and constitutions cryptocurrency remains illegal.

The biggest reason why you can still remember this comment can be because it has some big truths on it. Well, to some degree, I would be agreeing to this  idea and yes I think this is what we really wanted in the first place - to have a separate castle of our own away from the influence of the people on the ground. However, as one saying goes: no man is an island. We can not separate cryptocurrency and ourselves from the present realities around us. hence, when there will be laws and regulations that can affect cryptocurrency we have no choice but to follow or know the risk and go underground like a rebel.

Few years ago, I came across a comment that I still remember, of course not word by word but I hope context is still understandable. Here you go,

"Cryptocurrency is like castle built on the cloud, and the people who live there think they are separate from the earth and the laws of it."