Are you in crypto? Maybe you are thinking about it? Do you know someone that is “all in” and is promoting their moves to you or those around you? It is a cannot lose strategy?
Why is cryptocurrency so attractive anyway? It really is nothing but some computer code and digits on a screen. You can never touch or smell it. It will never materialize in your physical world. Older generation folks will say that they don’t understand it and they are “too old” for it and the younger generation will enjoy the convenience of it when you can swipe your phone to buy things and not have to deal with cash or credit cards. And let us not forget about the gains!
In reality, for those that have learned the lessons of money, they have discovered the attractiveness is the decentralization of money through the use of cryptocurrencies. Some of it anyway as not all crypto provides this. I covered this concept in my book “Money Plain and Simple; What the Institutions and the Elite Don’t Want You To Know” explaining about the pros and cons to the banking system.
First we must understand the central banks of the world are in control. How is this possible? Well, the central banking system allows them to provide currency to governments. And governments are now addicted to spending. When this pattern is acknowledged we then can begin to see how cryptocurrencies may be reigned in by government action. This WILL happen as soon as a threat to the central banks is realized.
Such as this article, this realization will happen via government support and will be shut down to protect the current banking system. It has already happened in China, India, and Indonesia to name a few. Central Banks will attempt to retain control and will more than likely create their own digital currency (CBDC-Central Bank Digital Currency).
Many people have made a lot of money (fiat) on cryptocurrency and will have a hard time understanding the possibility of the control that may be levered against it. I just want to give you the ‘third-side’ of the coin perspective of this fascinating block chain technology.
