Why The Worst Global War Against Crypto Won't Succeed
Then they fight you and then you win. I wonder which stage were at right now, because it certainly feels like a fight has been brewing and since just a few days ago, perfectly correlated to one specific date. The actual fight against cryptocurrency has ramped up to entirely new levels, and, quite frankly, there is so much going on that it deserves its own segment to analyze the course of events here and show how the stage were in is an entirely new ball game, and that Means that crypto is on its way to one of the most massive transitionary phases in the history of its existence and, quite frankly, it signals that this movement is even more powerful than probably any of us had previously dreamed. Youre definitely going to want to watch this one front to back as its packed with important context and value understanding exactly whats, going on with the attacks on this industry and what it really means. When you pull back the layers and examine the underbelly of whats happening in the history of money in the history of the internet, thats right every day, we show you how to get ahead of this market on the elio trades channel, and today is possibly one of The most important episodes weve made so make sure you smash that like button and watch this from front to back, and of course, if you want to be ahead of every trend like the avalanche trend, like the nft trend, which we brought you first before anybody else, Helping you get 10 xs and 100 xs day over day.
Then all you have to do is subscribe and put that bell. Notification on and youll be ahead of the game and thats. The absolute best course to success here in crypto. So make sure you smash that, like button and subscribe with that bell notification on with that said, lets dive in on september 7th 2021. What we saw was the first nation adopt, bitcoin is legal tender, and this was el salvador. Now, at first, everyone was memeing this, in fact, i remember thinking to myself this really isnt that big of a deal right, because el salvador is not that big of an economy this that and the other thing i was thinking about it and reminiscing on it, and What i realized is theres, something incredibly profound here, which is that you have an objectively low impact nation, one of the poorer nations in the world. However, if their citizens start transacting in bitcoin and by doing so end up elevating themselves even slightly into a less impoverished state, start building wealth start growing away from the dollarization that has kept them poor, well, wouldnt that be a very profound movement and wouldnt that attract More and more nations to do the same by letting the el salvadorians win this experiment as small of a nation, as this might be, how important of an impact would that be, and what kind of a signal would that send to the rest of the world? Well guess what thats an experiment that clearly on september 7 2021 was something that the powers that be whatever you call them decided was something that couldnt happen.
It just couldnt because look we had this glorious uptrend in in bitcoin over the past several weeks, and then what did we get on september, 7th to the minute the day that el salvador actually allowed their citizens to start transacting? In bitcoin we get a historic flash crash. This was not your average flash crash. This actually took everyone by surprise. Yes, the market was getting over leveraged and greedy, but there are some coincidences that are just too eerie to ignore. Now i kind of wrote this off at first, but the more that i peeled back the layers and started to analyze how significant and symbolic this would be. If el salvadors people started to be elevated out of their impoverished state with the new bitcoin standard of transaction and value well, that would be something incredibly profound and you could see more and more nations hopping on with every nation hopping on making bitcoin stronger more resilient. More liquid and, of course, more valuable. So, to be honest, the experiment in el salvador is worth more than it seems and, to be honest, this is no coincidence in my mind that were starting to see some violence against crypto at the time where its actually breaking through and becoming a legitimate unit of Account a legitimate reserve asset and a legitimate medium of exchange, and meanwhile we had a tax against other blockchains. What do we have solana establishing a denial of service attack the very same day we actually had ethereum getting attacked as well and ethereum.
Actually, uh withstood the attack way better than solana. Take that information. However, you will, but what did we see, attacks that were actually meaningful on the biggest blockchains in the world, attacks on the price of bitcoin, all within short order of this el salvadorian experiment? We also saw the exact same day this outburst of sketchy behavior being claimed by brian armstrong, as it refers to the sec again weve seen the sec become highly highly active over the last few days, literally right, the minute that the el salvadorian experiment took flight. Is it a coincidence, could it all just be a coincidence or is it something bigger? Is it a symbol of the times and the actual real stage that cryptos at in reaching true adoption and tipping into mainstream use cases? Meanwhile, we have the most important thing here: the infrastructure bill that is currently not even being talked about because we have so many other flood storms to worry about and right now, nobodys, even talking about this bill that is looking to label all digital asset uh providers. Anyone who works within digital assets a broker in the way that most banks have to register and deal with all these regulations. This is a huge, huge storyline that no ones even talking about because were so busy fighting other flood storms pretty crazy, and it does feel once again all too coincidental to be just an accident, and you have a president now buying the dip on bitcoin.
This says the imf warns that adopting assets here as legal currency is very risky right. The imf doesnt want this, because what do they do? They lend out u.s dollars and if you have bitcoin well, maybe you dont need as many of those us dollars. Maybe you dont need the imf as much so you can start to see the actual uh channels of power, the halls of power that have controlled economically the entire world over the past 50 hundred years, the world bank, the imf, the petro dollar, all of these institutions That completely had a stranglehold on these small countries are now being challenged, and this is much more meaningful than it even seems, and here we have a new regulator in town. Mr gary gensler, who we were all hoping, would take a very educated eye to the blockchain. Now its starting to feel a little bit less like that. Its starting to feel like its just going to be essentially a scrap where the sec is going to kind of come after people and its really kind of sad to see that innovation is essentially getting clamped down and that were not actually seeing. What is, by far the most interesting thing to happen in the last 10 years in technology to just get stamped out and get scared away, instead of being embraced as this incredible source of new wealth and new opportunity, new jobs, new income, what were seeing is effectively That the powers that be just want to silence this and were also seeing now, sanctions going out to crypto exchanges.
Now, to be honest, this is actually a an exchange out of russia, the sux otc sro. I have no idea who this is, but apparently theyve been facilitating. You know shady transactions, look if youre gon na go after people who are facilitating money laundering or something illegal definitely do that, but for projects that are just trying to innovate and bring new and exciting things to the crypto ecosystem. Well, that is where it is really unfortunate to see, and we hope we hope that we can facilitate a discourse, a dialogue with regulators that would allow for the new jobs and the new wave of innovation to have a home in the biggest and most prosperous countries. On earth, which is the united states, so in september of 2021 weve seen a shift. A significant shift perfectly coming in parallel with the el salvadorian experiment, with bitcoin and whats. Clear to me is that we are now in a new stage of cryptos growth towards mainstream adoption, and that stage was always going to come with. Friction friction was guaranteed because, when youre completely overturning the way, money itself is being viewed, the way transactions are being handled. The way essential halls of power and institutions are being able to actually have the ability to govern well. That, in and of itself, is a cause for friction, so this was an expected phase, but now that its here its important, you realize the only reason that there is all this action that there is all this enforcement that there is all this fighting going on is Because of how significant crypto is and how much it means this to me validates every single assumption and belief.
Ive ever had in the crypto ecosystem, about bitcoin, about altcoins, about web3 and to me it means that this is even bigger, potentially than i had ever dreamed. It would be, but bear in mind the next few months, maybe even years of friction will lead to decades and decades of prosperity and eventually, eventually the way these systems are built is to win over centralized power structures, so, in the end, crypto will win getting to That point might be an extremely extremely difficult affair, with that said, im optimistic as always that innovation and good intention people building interesting technology will always have a beacon of light and will shine a light on the optimism of the future. Now that said its time to buckle up, because there is turbulence on the horizon here and i believe genuinely that what were building here, the communities will be able to connect and bring these institutions into the light and see that they will prosper even more. By adopting and investing in and embracing this movement, but know for right now, theyve laughed at us, theyve ignored us, but now theyre fighting the crypto movement, and you know what happens after they fight you well theyre, acknowledging it theyre legitimizing it theyre, giving it a pathway For legislation and eventually crypto will win with. That said, i hope you got some value out of todays episode. If you did smash that like button and remember each and every day were bringing you the best information in the entire space so make sure you subscribe with that bell notification on as always im elio trades.
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