The upcoming geriatric leadership of the US banking thinks that 'cryptocurrencies are used mainly for illicit transactions' when the actual number from chainalysis is 0.34% and that number actually declined from 2% few years before. I am sure that more 0.34% of car movements and coffee drank was done by criminals as well.
This stupidity never stops.
Well, it is the only way they have to 'centralize' a 'decentralized' cryptocurrency like BTC/LTC, etc. They simply say what 'centralized' wealth wants them to say
we can't control it and centralize it 'unless' we regulate the hell out of it..thus taming it like other things like banks, etc.
That way, via 'regulation' we can manipulate price and usefulness with the fear of 'decentralization' which from this point on 'we shall call' 'chaos'
So to think that the centralized wealth and power of the world was 'not' gonna push back, well....that was a 'bit' optimistic! No one is ever so
pissed off as those who have 'missed' the boat on a major wealth generator like BTC/Crypto. Sour grapes make for a crummy wine.
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This is particularly glaring in that the very liberal left-wing (skoff!) Forbes Magazine today said it this claim of
illicit use was 'bogus' by Yellin.
https://www.forbes.com/sites/haileylennon/2021/01/19/the-false-narrative-of-bitcoins-role-in-illicit-activity/?sh=9065ecd3432fWell, the fact that both Yellin and the head of the central bank of the EU continue to just ignore the fact it is not true...well....can we say 'panic?'
at the fact BTC has gone up from the low of March 18th, 2020 BTC price of $5,292.78 (see
www.coinmarketcap.com) to the current price now of
$34,735.61 (again,
www.coinmarketcap.com) that is a 6.5628 times increase of 656.28%!
I'd be 'crapping' my pants as former central bankers myself.
So let the sh*t show begin...it shall be the classic economic battle between 'limited resources and demand' and centralized authority and regulation.
Anyway, kinda surprised it took Yellin and company to finally freak out and begin to freak out about this.
Brad
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