"The maximum amount of foreign currency retained in possession by a person in, or resident in, Sri Lanka has been reduced to USD 10,000 or its equivalent in other foreign currencies".
I bet most of you will read this as being odd as hell and it is. When a government forces the individual to limit his diversified wealth to what the government considers to be "the cap on diversification", then we can no longer talk about freedom.
We can no longer talk about freedom when the government freezes your funds because you're a freedom fighter, joining a protest, supporting protests for freedom, and so on and so forth. The past few years have been more than enlightening on the path the world leaders are trying to push us and what they really want us to be.
Bitcoin is the way out of the legacy system, blockchain technology is the weapon we have at hand and cryptocurrency is our way of taking over the world.
Not your keys = not your crypto
I wonder If I ever will hear anything more wise (and valuable) than this
The above quote comes from @onealfa in a comment on a post of mine. It is so plain and simple. All you got to do is take custody of your own wealth. Take Bitcoin off exchanges, hold cash as much as possible, work for yourself, and think for yourself.
But how many of us are actually doing it? I'd say not too many and whether we talk crypto, personal funds, sources of information, personal income, and so on... it is convenience that fucks our freedom the most.
We've become the slaves of this system due to convenience. Credit makes you convenient, cuz you can now buy the car that you would have to save for about 10 years to afford. A safe job brings a fixed and safe income, but it will never make you wealthy.
A bank account makes almost everything more convenient, but it will never grant you total ownership over your own funds. A crypto exchange/lending platform(etc) is probably the easiest way of dealing with crypto, but then again, not your keys not your funds.
This bear market is a wake-up call for taking ownership of our funds and lives. That's the way I see it. Onealfa said it: it's so simple, but we keep on complicating things.
Thanks for your attention,
Adrian
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We can't trust the exchanges and I plan on just using them to trade. Anything else for the long-term will be in my own wallet.
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Jheeze! I bet they wouldn't give you a concrete reason why that is. Decentralization is really the way out of this convenience system. Now, everyone has the chance to take full ownership of their funds and manage it for themselves.
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True. The problem is not many are doing it.
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Like precious metals, you don't hold them, you don't own them! Let's not put our keys or gold in a safety deposit box either.
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I'm definitely in that position. All my wealth is in my position.
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Huge issue and one I think will continue for a long long time unless blockchains start to develop something like hive with delegation and lock periods on it. A nice UI and simplicity is turning never before businesses into billions collecting fees simply for the UI and easy of use factor.
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I imagine most citizens will be looking at crypto as a store of ice now. USDT purchases there would likely skyrocket, prompting the government to take regulatory action for a move they caused in the first place.
Crypto keeps giving us validation
The gift that keeps on giving.
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