Only six days into 2018 and banks, investment firms, even state regulators have declared war on cryptocurrency. Their campaign is simple, regulate, enslave, and destroy the freedom that some cryptocurrency promise
News from the front lines are as follows Visa has ended its business with WaveCrest putting an end to crypto debit cards from Bitwala, Cryptopay, Wire, and TenX. This move was designed to cast fear, to show dominance. They want all, to know that you are still enslaved and they are just one of your financial masters you must adhere to.
Merrill Lynch has banned all their clients and advisors from cryptocurrency investments. They must think their clients are like children and daddy knows whats best for them. Then again 2008 happened and daddy didn’t know shit.
Moving on, the Texas State Securities Board went after USI-Tech and Bitconnect for advertising their services over social media and websites. Now USI-Tech is pulling out of America and Canada. No word from Bitconnect yet. Texas, if you are listing more regulations means less freedom. Regardless if think these companies are scams the fact that the Texas government thinks it can dictate what you can and can’t do with your money is pretty horrendous.
Lastly starting Jan 1st all crypto transactions in America are now taxable activity. That’s right the IRS wants all of your crypto.
The war is real and there will be casualties. It’s no wonder why everyone has been talking about privacy coins like Monero (XMR) Zcash (ZEC) Verge (XVG) these coins and others, I see are going to be the strongest contenders this year.
Decentralization with privacy is the only way we are going to win this war. Companies like Substratum (SUB) that plan to decentralize the internet will play a major role.
The year has just begun and mass adoption has yet to really take place.
In the words of JFK, “We choose to go to the Moon in this decade and do the other things, not because they are easy, but because they are hard; because that goal will serve to organize and measure the best of our energies and skills, because that challenge is one that we are willing to accept, one we are unwilling to postpone, and one we intend to win.”
Sorce
Hold the line