Regulations on Cryptocurrency. Seriously?!
By: Mark Aaron Babbitt
Tags: Ripple, Cryptocurrency, Bitcoin, Financial Regulation, Blockchain

“The FSB’s initial assessment is that crypto-assets do not pose risks to global financial stability at this time,” A risk to who?

When states get together and talk about the ever growing market of Cryptocurrency the arguments which are most brought up are the Dangers that Cryptocurrency brings. The “danger” refers to people who stop using the currency of their countries and instead start using Cryptos. Governments don’t produce Crypto, Governments can’t control crypto and what a Government can’t control scares them.

“Many platforms refer to themselves as ‘exchanges,’ which can give the misimpression to investors that they are regulated or meet the regulatory standards of a national securities exchange,” said the SEC in a statement on its website. This quote from the SEC just shows how Idiotic they are. Anyone and everyone investing in Cryptocurrency and trades on a Cryptocurrency exchange knows the risks. The people who are crying out for Regulations are either, Politicians, or Sorry Excuses for human beings who are looking to shrug off Personal Responsibility or they need someone to hold their hands while crossing the street. People need to do their own Due Diligence and carefully and thoroughly look into an Exchange before storing their Cryptocurrency there, or before investing in an ICO. Man Up you Pussies!

Some of the Idiotic things said at the recent G20 summit were:

Treasury Secretary Steven Mnuchin has been vocal about bitcoin’s ability to aid criminals, telling CNBC in Davos in January his main focus on cryptocurrencies is “to make sure that they’re not used for illicit activities.” So, does this include the U.S Dollar, the EURO and all other Fiat currencies? For aren’t they all used for Illicit Activities?

Carney said the digital currency “has pretty much failed thus far on” traditional aspects of money.”It is not a store of value because it is all over the map. Nobody uses it as a medium of exchange,” Carney said. Well well now Mr Carney of the U.K you tell me, what is the Traditional Aspects of Money?

U.S. Department of the Treasury secretary Steve Mnuchin: “My number-one focus on cryptocurrencies, whether that be digital currencies or bitcoin or other things, is that we want to make sure that they’re not used for illicit activities,” Again, we can use the US dollar, The EURO, the Russian Rubble for Illicit Activities, no? So what’s the real threat here?!

LACK OF CONTROL.

The real Issue that Governments have with Cryptocurrency is a Lack Of Control. The inability to just Print out the money they need, to give themselves a raise whenever they want to. To Spend, Spend, Spend the hard earned money of their citizens on what ever they want. Government is the Least qualified to Regulate, well, Anything! A bunch of Politicians, which the majority of, have never had a Real Job, making rules and regulations on an industry, they themselves have never worked in. The rules and regulations which they make are only made for a Few Friends they have, (when I say friends I mean Special Interest groups which donate to their party or in many cases donate to the Politician Indirectly) to bolster the status quo and make it harder for start ups to compete. You want Regulations on Cryptocurrency? Heres an Idea..

Let The Market Decide.

If you answer an ad in the paper that reads..

Heart transplants done in the privacy at your own home. Just call 800.123.4567 Dr, Death.

And choose to have a heart transplant on your living room table and end up receiving a chicken heart, while the doctor smiles and whispers in your ear “I never said it would be a human heart” who’s to blame here. The Doctor or You? You, you idiot!

If you invest in an ICO which claims it has found a way to Implement Blockchain Tech to prolong Life, and you invest and loose everything, who’s to blame? You, you fool.

If you choose to store all your Crypto in an exchange, and that exchange goes on a Prolonged Vacation, with your money, who’s to blame? You, you nincompoop!

If you can’t handle being responsible for your own Cryptocurrency then you shouldn’t be involved. PERIOD! Allowing ANY regulations in the world of cryptocurrency or ICOs or online exchanges is akin to injecting yourself with Cancer. It will grow, It will take you over, it will Kill you! Don’t be a fool. If you give a mouse a cookie, he will ask for a glass of milk. If you give him a glass of milk, he will ask for a napkin. If you give him a napkin, he will ask for a…..and on and on and on……. This is the Pattern of Allowing the Government to get involved, in anything! If you can’t see it, well, your either ignorant, dumb, or just downright stupid!