We should live in reality. Agreed, there are powerful people that are threatened by what bitcoin and the cryptospace can bring for the people, however, do you really think that bitcoin and the whole cryptospace is safe? Those powerful people has made the control over national currencies their lifeblood because this is what gives them their power. They will try everything to control the cryptospace. We cannot be certain if they will be successful in this but I would not be shocked if they acted more violently and we read in the news that a Bitcoin or an Ethereum developer died under questionable occurrences.
my stance of the whole "government" thing is this
senators and congressmen live their professional lives by their 2-4 year contract(voted in period of position)
they are not personally interested and do not sit at a computer watching every citizens daily activities, they are not interested in watching what coffee or chicken burger people buy.
the whole "government is watching your every move" is a dream
it does not matter the currency there will always be "government" but its just a game of which currency can lobby the best, wins
we see this with many nations. where european countries moved to the euro and UK moved out of euro grasp. we see african countries pivot from euro to dollar at a whim.. governments dont care about currency they just want to get paid in whatever is valuable/offered at the time of their voted in position
BANKS on the other hand are a business. and they want to continue doing business..
its banks and financial institutions that collect data on their customers.
they dont like new 'money businesses' setting up new industries where MSB's make more profit but dont have to do all the paperwork.
much like taxicabs and transport regulators didnt like Uber
i dont view the SEC/CFTC as child of senators/congressmen
instead i see them as the mother and father of banks/financial industry
i view SEC/CFTC not as a government department. but as a business..
they lobbied congress/senate decades ago to give their business powers that allow them to parent an industry
setting rules where by you have to buy a licence(membership) to be allowed to enter an industry(pay rent to live in the family). it helps avoid boiler room scammers just setting up shoddy banks. but also puts up barriers to ethical people that want to set up genuine money businesses to compete against the banks(unless your part of the elites)
lets take DCG (coinbase, bitfinex, ftx) via their business connections of their elite social group they get to easily set up exchanges/businesses with no oversight. but they also know the best tax accountants and fiat law lawyers to know the loopholes to escape the costs of doing business, which more common folk dont get this privilege access to
yes senators and congress have a say in what powers and actions the SEC/CFTC have and can use. because senate/congress control the law. but get bribed(ops i mean lobbied) to re arrange the law in businesses favour
decades of bribes and golden handshakes and buddy system allowed these regulators(businesses) to gain power and prestige pretending to be government departments. but in reality business partners of industry
we seen this with the bitlicence . the then head of SEC set up a bitlicence(membership NY businesses had to subscribe to) and once set up he resigned as regulator(job dne) and entered the business of bitlicence adviser taking extra fee's to guide businesses in the loopholes (of the rules he set up) to aid the business buddy system of who should enter the crypto world in NY
the regulators are businesses in of themselves getting money both from treasury to do the good deeds of law. and also the corporate money from business to do the deeds of banks
..
DCG(greyscale) wanted an SEC regulated ETF. but got pushed back. and so DCG and FTX now want to pivot bitcoin away from mommy and daddy SEC regulations and instead get adopted by foster parents CFTC
.. even other regulators like the EPA(environmental protection) are a business. they have powers to shut down farms and tell power companies to not service certain industries..
if you stop viewing regulators as some trump/biden grandchild.
and instead view them as business parents. where by they bribe, beg, coerce or blackmail government(senate/congress) via "lobbying"
you start to see how trying to point fingers with "biden/trump is /was spying on all your transactions" (facepalm)
and instead realise banks dont want competition who has less work but more profits.. the picture becomes clearer
knowing the difference between:
congress/senate (contracted men that like side deals)
paper law (national/state level) which has no arms to punch
law enforcement(idiots who like guns) employed to do raids and punch
regulators (businesses with power) that can call on law enforcement
banks(that fear other financial industries/competing jurisdictions finance)
MSB(lower level less elitist financial services) some are family some are outsiders
crypto code(rules of code) which has no ear to hear paper law and no body to be hit or arrested
you learn the middle guys (banks) are the ones fighting to stay alive.. not the congress/senate
......
bitcoin itself as code if everyone just ran the same code and never changed. would be unstoppable
the "safe" of bitcoin is to not allow any business to coerce or mandate changes to code. not allow businesses to gain power to control the edges of bitcoin where people enter and exit
we need to fear firstly BUSINESSES (like DCG(blockstream devs, NY agreement economic nodes) and their CEO's that lobby to change regulator jurisdiction of the industry over all)
then the regulators whom may gin powers to stifle mining locations or which merchants can startup
then lastly "government" but more so about how businesses (banks and MSB) lobby said government.
rather than thinking that its a top down finger point of government downwards.. its actually the businesses upwards
.. because .. "capitalism" not "communism"
congress/senators do not call the FBI/SWAT to do raids on citizens.. thats just bad practice and not good for future election hopes of their career
what happens is BUSINESSES watch their customers and suspicious activity or activity one business doesnt like seeing another business do is reported to regulators.. the regulators then call on FBI/SWAT
..
th electric car industry sees crypto as a threat to the electric availability. if power is going to crypto then people wont want to buy electric cars due to lack of electric to drive to work. so the electric car industry(elon) is lobbying regulators to push hard on bitcoin businesses to be more "environmental"
its not a biden decision top down. its a business lobby middle up
banks dont like non fiat becoming common money. thus there is a push to have crypto only as investment not money. again (middle up)
then there are msb's they also want to have their other financial products like ETF, sidechains and subnetworks. so they want regulation changes. but dont care about the other effects that can happen due to their selfish wants. heck they have been bribing the regulations middle up.. and also the devs at the bottom..
