The End Of Crypto As We Know It
The us is talking about regulating it. Other countries are banning it at least thats. What some people are saying, thats, what some people are fearing, but thats, not the case. I want to go through it today and why this could actually be good for crypto. We just heard from the white house that theyre going to start trying to regulate crypto. At least that is the idea, so were going to take a look at it. Maybe explain what theyre actually doing what theyre not doing take a look at some other news in the crypto markets and i think its gon na be really valuable, theres. Some news happening in the world today. That makes you feel even stronger about crypto than you already do, probably so you might not have seen it its something thats happening in a small country that has just burned itself to the ground. So well talk about that. If you guys dont, mind hitting the like button and subscribe, definitely do that we come every single day with crypto videos, so definitely be on the lookout for that hit the bell notification. So you see right when i post a video. Also, you can check out the links down below in case you want to kind of smooth out some of these ups and downs right like whenever someone bans crypto or we see a drop. I know a lot of people get scared, but if you want to smooth some of those out, you can sign up for block fi and get an interest rate on your crypto, which will dump more crypto into your portfolio.
So it does help smooth out some of those ups and downs and gives you a reason to hold if you think, cryptos going to come back up, youll be better off holding it if youre getting interest. So what am i talking about here with the us government? Well, the white house weighs wide ranging push for crypto oversight, so we already know that its part of the stimulus deal. There is some wording about crypto companies and people that deal with crypto, but we got some new information. The biden administration is weighing an executive order on cryptocurrencies as part of an effort to set up government wide approach to the white hot asset class weve seen so many banks that say hey we cant ignore this anymore and the governments saying that too the proposed directive Would charge federal agencies to study and offer recommendations on relevant areas of crypto, touching on financial regulation, economic innovation and national security to the people? The initiative will also aim to coordinate agencies, work on digital currencies through the executive branch, so they might even consider appointing a white house crypto czar to act as a point person on the issue. Now they are not commenting on this theres, no decision, whether to release the executive order right now, theyre, just weighing you know how much regulation do we need. I think that they will probably put something out there and they might start trying to regulate crypto more. In the end, though, in the end, i dont think this is necessarily a bad thing, and would you expect anything less right? I mean this theyre expecting it to blow up.
There are literally senators theyre building platforms on the fact that they like crypto, and that they are crypto forward. Of course, theyre going to start regulating, crypto thats, not necessarily a bad thing. I kind of think about it and ive heard other people describe it as when cars were first made right when they were first made. It was really dangerous. There werent regulations there werent rules there werent laws with cars. Now, a hundred years later, do we feel uncomfortable that the government kind of tells us how to drive a car where we can go, how we can go, how fast we can go. What we should be wearing while were in the car, no were okay with it. We dont care because its still taking us where we need to go its still giving us the use case, so that is still something that we will still have use case for kryptos afterwards. It will just hopefully make the masses feel a little bit safer. Now in the us, i think we have the benefit of not necessarily seeing whats happening outside of the u.s. We we see a four or five percent inflation rate. We have it pretty good here compared to other countries like this is just coming out of lebanon. Lebanons national electric grid collapses, so their electr, their electric grid collapse. On saturday, after the two most important power stations ran out of fuel, the government literally doesnt have money. The banking system was first to implode in 2019, triggering a 90 slide in the value of the currency that has left the government unable to afford fuel food and medicine, and this has pushed them into poverty pushed a lot of people into poverty.
This has been blowing up on twitter when the banks take your savings from you. They literally arent open so im, assuming that this is literally because they dont have electricity to keep the banks open right. They are literally freezing peoples assets because they dont have access to get their money. Of course, weve seen pictures right, like sometimes money is worth less than the paper thats printed on and right now. Countries like this need, cryptocurrencies and theyve been turning to crypto lebanon, young lebanese driving crypto revolution after some of their inflation right, its so important to have crypto in some of these countries, and we see countries banning it all the time right, like china banned it recently. Theyve been banning cryptocurrencies for years, they dont want to lose control. However, when a country says something like this or comes out that theyre banning crypto or banning whatever exchanges, we actually see a lot of people from those countries, especially the wealthy people, turn to crypto and actually put more money in it, because they realize that if the Country that theyre in doesnt allow them to have it theres, probably a reason not to keep all your currency in that country. You want to diversify away from that, and this actually came out recently. This is from coindesk, who bought the 1.6 billion dollars in bitcoin this wednesday that pushed bitcoin up from about 52.5 up to 55 in five minutes. They think its coming from china.
They think its coming from china, because the three exchanges that had a massive volume were actually countries that i dont want to say, are based in china, but definitely have a lot of exposure to china. So, according to crypto quant, these three exchanges had large volumes in their perpetual futures contracts. Binance you buy and buy bit. So a lot of people are thinking. 1.6 billion dollars went into bitcoin, specifically within five minutes from china, and this is right before china banned crypto. Again saying it was going to be on a list of industries not to invest. In now the u.s has said several times. Powell and scc chairman has said that theyre not going to ban crypto theyre, not going to ban crypto at all theyre just going to try to regulate it and, i think thats a good. I think thats a good thing, because if they try to ban it, it would be a lot like china itd, be like turkey too. Turkey banned crypto recently and after that happened. The word is a lot of wealthy. A lot of wealthy turkish people put a lot of money into crypto theyve been dollar cost averaging in bitcoin, knowing that this was coming and theyve seen the inflation rates, inflation raises to 19.6 percent after surprise rate cut. This is just this week i mean theres. So many different countries that have so many issues right, even el salvador right. They are a country that uses the us dollar, but theyve seen it inflate this year.
The u.s debt has gone up like crazy inflation has run rampant and they dont get the stimulus that we get here right. There theyre subject to the same inflation without the benefits of being in the u.s. So the fact is, when the government raises more debt, creates more money. Theyre gon na have to somehow theyre gon na have to somehow pay back that debt its either through inflation more inflating more. So that way, that the dollars not worth as much or taxing more so either way its a good time to put some money in bitcoin and other cryptocurrencies just to try to preserve your wealth, even in the u.s one of the countries that really isnt as affected. As a lot of these other smaller countries in terms of inflation, we still see it a lot. So that is why im really excited about crypto, specifically bitcoin. I think bitcoin has a very bright future. Ive talked about it here for months and months and months, even when everyone was scared with it around 29 000. I was bullish. I was buying. Now i will say in case you havent checked this out. I did post a video on a crypto. I need to buy more of i posted it. Just yesterday definitely check it out ill put it up on the end screen along with this video here, how to make thousands more by the end of the year.