Many people were unaware cryptocurrencies even existed before the skyrocket in Bitcoin’s price in 2017. People who had heard about this “online” currency, had concerns regarding security, stability and the overall authenticity of the whole system. Let’s be real however, these concerns or even fears in people, were forcefully instilled by the endless mass media and governments’ campaign against anything, that offers independency from the banking system. These restrictions serve no real purpose, except fear mongering.
We wouldn’t want people thinking and working for themselves now, would we? Central banking, unending debt and crippling regulations are what’s driving the economy down, not revolutionary ideas. Unfortunately, many governments have made it their and their media’s missions to massively spread misinformation and FUD (fear, uncertainty and doubt) about real, actual solutions, which can be immensely beneficial to the personal and overall economic freedom.
Change is good, unless it changes who profits
The biggest reasons mass media, governments and banks will tell people to stay away from crypto are financial crimes and money laundering, the security with unregulated exchanges and last but not least, funding terrorism. As laughable as it sounds, many governments around the world are now suddenly against funding terrorism and are suddenly working together. If the simple fact, that people will gain financial independence from their governments and banks, scares the media, governments and politicians so much, maybe it’s time for people to really start wondering why.
As Jeff Berwick, the founder of “The Dollar Vigilante” said,
“The state doesn’t actually exist. It is just a group of individuals in costumes, who listen to other people in costumes, committing massive crimes“
In Asia, where there’s a huge demand and interest in cryptocurrencies, the laws have not been kind for cryptocurrency traders and investors. In China, the government charged banks with the task of taking “harsh” measures and unnecessary restrictions against crypto users. China has over 200 Blockchain patents filed in 2017, which is the most in the world. Hangzhou saw the launch of the “Blockchain Industrial park”, where it’s rumored the Chinese government is investing billions.
According to a report from the Japanese Cryptocurrency Business Association (CBA), the largest cryptocurrency industry is located in Japan. Japanese people are more cooperative and transparent with their government. That is mainly due to the fact, that the world’s largest “cryptocurrency exchange hack” was done on a Japanese-based exchange. This exchange was Coincheck and more than 530$ million in NEM tokens were stolen from unsuspecting traders. Click here to read more on the hack and how Coincheck planned to compensate its users.
South Korea’s stance is a mixture between both Japan and China. The government investigated it’s local banks after the country’s rapid growth in crypto markets. In December, anonymous trading was banned and required a trading account registration under real names. The industry however, is largely regarded as one of the most progressive industries in the country, especially in regards to policies.
Asia is seen by many as the economic future, since China already surpassed the US as the world’s largest economy. They might have taken a strong stance on cryptocurrencies now, but it’s obvious they are studying, growing and taking all of the possibilities into account. They are also preparing strategies for further blockchain development in the near future. As many people have learned through the ages, there’s always a winning horse, and people who were able to spot one, even before the race started, were rewarded handsomely. The Asian economies, just might be that winning horse.
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