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Well that did not take long. Sometimes the timing of things aligns as if all matter in the universe is in sync.
The United States government is one of the most powerful institutions on the planet. This organization is a front for the established power brokers that we know as Wall Street. It is no secret how much of the world is run by the "money men" with most countries having a central bank that oversees the monetary system.
Governments provide a valuable resource to these individuals. Through the use of force, they can strong arm the population. They have their laws, guns, and prisons. As many notable people found out, fighting this behemoth is virtually impossible. There are many people sitting in prison right now who are there because they lacked the resources to fight this entity with an endless supply of money and found themselves a target because they were not in line with the propaganda.
Remember, the power brokers do not like competition. They spend decades setting up a system that is under their control. Threaten that and they will send their bulldog after you through the alphabet agencies.
Cryptocurrency and blockchain is a threat. This is something everyone should realize by now. We witnessed a year long blow back from the media, crushing cryptocurrency. This is the usual playbook.
For those unaware it looks like this:
A) Try to buy it up
B) Seek to get it outlawed
C) Use the media to totally discredit it
Unfortunately for them, none if this is working. Therefore, they are going to have to resort to other tactics.
Think I am a bit out there and my conspiracy mind is playing tricks on me?
This came out this morning which epitomizes what I am saying.
Are you familiar with FinCEN? This is another alphabet entity that is part of the Treasury Department (U.S. Government). It stands for Financial Crimes Enforcement Network and they issued an interpretation that DApps may qualify as money transmitters.
The guidance was issued to remind persons, subject to the Bank Secrecy Act (BSA), how FinCEN regulations relating to money services businesses (MSB) apply to certain business models involving money transmission denominated in value that substitutes for currency, specifically, convertible virtual currencies (CVC).
The regulator defines DApps as software programs that operate on a peer to peer (P2P) network of computers running a blockchain platform, designed such that they are not controlled by a single person or group of persons.
“Once the DApp is finalized and in production, FinCEN regulations may apply to persons who use the DApp to conduct certain financial activities,” FinCEN said. “For example, if an investor or an owner/operator uses or deploys the DApp to engage in money transmission denominated in CVC, then the investor or the owner/operator generally qualifies as a money transmitter under the BSA. Likewise, if the developer of the DApp uses or deploys the DApp to engage in money transmission, then the developer will also qualify as a money transmitter.”
https://blocktribune.com/blockcahian-dapps-may-qualify-as-money-transmitters-says-fincen/
Isn't that just peachy.
So they ran the playbook and all three of those failed so now they are going after the developers of the DApps, claiming that AML and KYC laws apply to them. This is how those in power maintain their stronghold.
Of course, the ruse in all of this is the reasoning they apply. They are trying to "protect" the general public (look up the fines that U.S. banking giants paid since the financial collapse and see who the true vultures are).
The only ones they are protecting are those in power.
This is where BEOS enters the picture. Jurisdictional Agility allows one to determine where the transactions take place. I wrote an article the other day how this will appeal to the established entities who are interested in getting into cryptocurrency because they can comply with the regulators and establish transactions under known laws.
The guidance coming from FinCEN provides show how important this feature is and who else BEOS is going to appeal to. Everyone who is not part of the establishment needs to get out of the alphabet soup. This mean using the network to get out of reach of the United States. Placing the transacting operation in international waters, or space, means they are outside these entities. There the United States is stuck having to adhere to international law (which I am sure thrills them).
I referred to this the other day. While Bitcoin people are bickering and forking on a weekly basis, while Bitshares factions are trying to cut each other off at the knees, while Steemians are arguing about rewards and engaging in flag wars, and EOS are battling over governance issues, these people are out to take the entire industry down. They are powerful and will not stop.
It is a battle of guns and laws versus technology. Ultimately, this is a game of agility. Who can move quicker than the other? Whatever they come up with, we need a technological solution to counter it. BEOS is an example of how this guidance is countered. Good thing it was already in the works.
Then we get this gem from Congressman Brad Sherman of California.
United States Congressman Brad Sherman (D-CA) has called on colleagues to outlaw cryptocurrencies, saying they threaten to disempower American foreign policy and diminish the rule of law.
He goes on to say:
“An awful lot of our international power stems from the fact that the dollar is the standard unit of international finance and transactions [...] it is the announced purpose of the supporters of cryptocurrencies to take that power away from us.”
Is it any more obvious?
This is the mindset of these people. They know a threat is looming and are going to do all they can to eliminate it.
Cryptocurrencies take power away from them and they are not about to let that happen. The goal is going to be to outlaw them so the masses will be turned away. There will be a few that are willing to cross the line but the majority will adhere to the rules.
We are fortunate that cryptocurrency and blockchain offers opportunity to all. This includes countries that were targets of the elite or are on the outside looking in. These countries appear to be embracing it and using the opportunity to get a leg up. This is where we need to focus our attention. Get the transactions in those countries, out of the reach of those who seek to destroy what is being created.
BEOS is going to be the first to provide this ability. I would call it a game changer but the game is being changed regularly by the alphabet soup. This is simply a response to their move.
The lawyers/bankers are taking on the geeks in this game of chess.
You know who I am looking to win this one.
If you found this article informative, please give an upvote and resteem.
I was going to mention Congressman Brad Sherman but you beat me to it right at the end there.
The funny thing about "banning cryptocurrency" is that they would do it the same way that they banned online poker: Make it illegal for the banks to process the transactions.
This would create a black market because demand for crypto would raise even higher if it's outlawed. More citizens would start buying mining equipment. More citizens would start paying cash for crypto off the books.
Once a decentralized way to turn fiat into crypto comes around a ban such as this would be laughable. In fact, it's already laughable because big corporations like Coinbase (Goldman-Sachs, Facebook, Amazon, Cisco, etc.) are already committed and forming political action committees in crypto's favor.
Did they learn zero lessons from trying to crack down on people using Pirate Bay to 'steal' IP? You can fine a bank for millions; you can't fine a person for millions; they don't have it. I guess those fools are going to learn all the same lessons the hard way. Seems like a good sign for us that they are incompetent dinosaurs.
Sadly the crackdown on online poker really did kill off most of the online poker players in the US :(
Yeah, but just wait for decentralized zero-rake poker.
Texas Holdem is going to come back in full force.
I can easily make $50 an hour if this happens.
There already is :P
Check out Bisq. The problem is that there is low liquidity which means less users which so on. But it getting more volume, now which is pretty good :)
Dether is another one that is suffering from a total lack of network effect.
Bisq is good but you need Bitcoin to trade.
Yep 😊
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I read that article about the Congressman earlier this morning.. hell yeah they're scared.. but once Wall St moves in it's over as far as trying to outlaw it
The dinosaurs are going to get wiped out by a meteor.
Wondering what happens when the $USD is no longer the world's reserve currency? This transition has already started imo.
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I'm not sure that this is strictly accurate. Just recently the USA has threatened Japan with sanctions if they try to buy Iranian oil. The reach of US regulators is worldwide now.
Nothing has more agility than internet math. Ultimately the biggest problem that government is going to have is that the game theoretical incentives of getting rich is going to play into crypto's favor. Since the billionaires have the biggest voice, they will not stand by while a few dinosaur bankers railroad the forward thinkers. A war is coming between these groups and I think it will buy enough time to render the buying power of national fiat weak enough to show what politicians are really made of (this isn't pretty). Once politicians and regulators cross the line into dictatorship, business will move away from their jurisdictions and everybody who fails to follow crypto into the future will die off.
Of course, this may take place in stages with some jurisdictions locked down for about a generation (China and the USA look most likely to follow this path), but I don't believe it will last.
Another outstanding article, Thank You.
These so-called "laws" that they use to manacle us in an attempt to destroy us are in all truth anti-laws, evil spells promulgating violence against the true and fundamental law of the universe, "Love your neighbor as yourself." -Ref.
BEOS is a grand opportunity for the liberty minded, as well as a great "honey trap" for those currently holding all the assets, sucking in a portion of the wealth that moves nations.
The more wealth that migrates into crypto, drawn in by its evident superiority, the more opportunity for those who value the hope of being free to grab enough of the brass ring to escape the grasp of the SOBs who until now have been running the show.
Many thanks to Dan, Stan, Michael, and all the developers and entrepreneurs who have been working tirelessly and who have been so generous as to share it with those of us who can grasp even a glimpse of the vision.
😄😇😄
BEOS concept is good but only implementation is lacking
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