You think he will stop at shitcoins...that's laughable.
mmh actually, that's not what I said.
Again, here is my quote: "I
tend to think Gensler is good for Bitcoin and bad for shitcoins"
(I mean him, not the people behind him, or anyone else ...as it is now):
He knows very well the technical an monetary differences between Bitcoin and shitcoins. I think you know how important that knowledge is in order to understand Bitcoins's decentralization, purity and the value thereof. (check out his MIT lectures and you will see how deep his understanding is)
He has already declared Bitcoin a non-security. Which is
good for Bitcoin.
When asked about different shitcoins, he always refers to the Howey-Test. And it's obvious that almost any shitcoin will pass that test.
In result that is
bad for these shitcoins
Maybe a few people here should read the "First they came" poem by M. Niemoller...
...it's quite relevant despite a multitude of the opposite opinions on this forum.
I learned it in high school, decades ago. It was good life advice for me.
As I understand it, you try to draw a connection between Niemöller's saying and this Bitcoin/shitcoin/Gensler talk, no?
I might get you wrong, but do you wanna imply that Bitcoiners should speak out in favor of shitcoins, like mEth, in order to avoid being the next on the list who the state is coming for ?
If yes, primarily prepare for JJG's batslap
and secondarily I think it's a not so accurate comparison:
The Nazis came for their opponents...
but most shitcoins like mEth are no opponent for the fiat system, because they support exactly the same power structure, (power of the rich) by POS, pre-mine etc.
And.. if Bitcoin is seen as an enemy, it will be so, no matter if shitcoins exist or not. It's not the same animal.
Also the Nazis came to put humans into camps or to kill them...
imo inadequate to compare that to regulators who come for illegal
securities scams and try to get them registered in a way that any other non-scammy product has to take
However, anyone feel free to vocally support shitcoins in order to save Bitcoin from the state..
But I think that logic is flawed.
It makes only sense, if you are a shitcoiner and don't get the difference between Bitcoin and shitcoins... but even Gensler gets it, what brings me back to my OP
Edit:You think he will stop at shitcoins...that's laughable.
maybe I got your writing wrong idk...
I think as for now Gensler stopped at shitcoins, because Bitcoin is no security. And that is good for
BTC.
I don't know how he will act in the future.. maybe he will get pressured by "someone" to attack BTC as well... who knows ... I'll be watching
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