Cryptocurrency: Unstoppable Progress

The Germans have a saying: “Keine Regel Ohne Ausnahme”. It translates: “There is no rule without an exception”.

Each rule has exceptions, and it is important to remind governments since bureaucracy tends to follow a certain line without being able to bend and serve each exception differently.

Until now, Cryptocurrency has been the exception to traditional finances, but this is about to change.

Innovation and Progress is a Threat to the Weak Banking Fundamentals

Rules need to bend often to promote progress and allow innovation to flourish.

Those that react to progress are the weak. Those enjoying undeserved privileges will be the most resistant to change. And this is not the working class or the part of our societies living below the poverty line. Those suffering from economic hardships are not threatened but are excited by innovations and embrace them.

It is not the working class or the unemployed that resist cryptocurrencies. Crypto is helping the masses. The banks and the establishment are opposing the change cryptocurrencies bring.

The stagnant and corrupt traditional financial system that manipulates markets is the main resistance to cryptocurrency.

And secondary, the increase of debt that enslaves the world population at the hands of an elite.

Both government debt and individual debt have the same effect. One enslaves a nation, and the other the individual.

Modern debt begins from birth. Every newborn child in the US owes $66.874 to the American government.

Every child born in 2021 in the US, by the age of thirty will be in $190.000 debt, without including individual debt (loans, credit cards).

And it is not very different in the EU or other parts of the world. Debt is modern slavery either, at the individual or national level.

Technology forges a better future, but previous generations resist changes.

It can be a government that feels threatened by this new magical internet money that suddenly the youth embraces and uses instead of fiat cash.

Worries about losing control of and witnessing influence reduced once money becomes entirely autonomous and decentralized.

Although, smart contracts will dominate the financial world.

As with the first P2P networks and BitTorrent, some governments did everything possible to condemn and hinder progress, the same occurs with cryptocurrencies.

They set the rules on how to behave and how nothing should disrupt the legacy financial system.

Stalling innovation and progress, banks and governments have the time needed to reach close and not lose control of their dominant position.

They could not buy all the time in the world, though, and still, they didn’t get it.

Instead of embracing decentralization, they tried to tame it.

The latest response to regulate or even ban cryptocurrency reflects the failure of the banking sector to rise to the challenge and adapt.

Closing Thoughts

Politicians in the European Union promote an anti-crypto agenda.

The plan was to bring Crypto into the news as a high-risk investment, make it look like it’s all about a scheme to make money fast, and not educate about the dynamics, the potential, and the revolution it brings to the finance sector.

Having that in mind, all we read in financial newspapers so far was how all cryptocurrencies were a bubble and the reasons regulations are needed.

There is no research on fundamentals, though, and no analysis of the purpose of cryptocurrencies. As usual, leaders fail to comprehend what the people need and fail to realize the positive disruptive abilities of decentralized money for the world population.

Just of this ignorance, cryptocurrency will become the rule and banks the exception.

Originally published at read.cash