Crypto common sense
Finally we are starting to see some articles with a bit of common sense prevail...
"There is nothing that governments, including the U.S. government - whether it be Congress, the SEC, CFTC, FinCEN, or state regulators - can do to stop the growth and development of blockchain technology, provided that blockchain innovators are transparent, act responsibly, and stand accountable for their actions."
There is a larger audience that still needs to be educated, but I see less reactionary price swings as the market evolves. Also as the hubris of certain crypto projects gives way to the understanding that they cannot operate outside of, or twist the law. There has been a degree of arrogance in the past.
Those doing their best to discredit crypto in general with a blatant and naive notion that they can then use the technology to further their own archaic financial institutions are also starting to smack of the boy who cried wolf.
“In our view, its intrinsic value must be zero,” Stefan Hofrichter, the company’s head of global economics and strategy, wrote in a recent web post. “A bitcoin is a claim on nobody – in contrast to, for instance, sovereign bonds, equities or paper money – and it does not generate any income stream.”
Loosely translated as if we can find a way to leverage this for our own gain, then we will get on board. Until then its a Warren Buffet style scam call all over again.
Still Def a quite a few more months of this ahead.
Thoughts from anyone?
I agree that the ban by Google will only be a good thing the long run, and that as the technology grows certain companies will be white listed on a case by case basis. Then again most grow by means other than advertising. This too is an old market notion. Community enthusiasm for a project bets self promotion any day.