Cryptos Can’t Be Regulated But Cryptos Are Nothing More Than Fiat With Another Face
THEDAILYCOIN.ORG
MARCH 13, 2018
Cryptos can NOT be regulated. However, as long as cryptos are merely another fiat currency with a different face the entrance and exit gates can be regulated, opened and closed at the discretion of government regulations or corporate policy.
Blockchain technology is linear. This means that every transaction is tied to the transaction that happens after each use as well as each transaction prior to the current use. Meaning the drug deal that happened 87 transactions prior to funds landing in your wallet are now tied directly to your wallet. This goes for 100% of the transactions going forward from your wallet. This “chain” is there for a reason. My guess, for nothing good and certainly not for our benefit. How could I possibly benefit from being tied to an illicit drug deal that happened 4 months ago and I know nothing of this transaction nor any of the parties involved but the funds in my wallet are directly tied to that transaction? Where is the benefit to me and my family?
If I go into a bank, today, and withdraw cash and I receive $100 bills, the odds of those $100 bills having cocaine residue is extremely high. The residue can not be tied to me or anyone else. The “residue” from the transaction on blockchain will tie directly to me and everyone else associated with that flow of funds. So, this idea of decentralized and especially anonymous is nothing more than a fantasy perpetuated by a ghost.
I don’t need to regulate the underlying asset if I control the gates that allow the asset to move in and out of the system. Mike Maloney discusses cryptos as if they are immune to bankster theft and regulation. Bitcoin has moved backwards ever since the CME Group launched bitcoin futures contracts.
“Wall Street and the financial sector are all trying to figure out ‘Well how can we get a piece of these profits?’, and the way it is engineered – they can’t!”
