I sincerely feel like these sort of things are going to backfire. Yes, its not going to happen anytime soon, I think, but it will eventually catch up to us. The truth is that right now the people at top know they can get away with everything, and they are not afraid to swing for the bleechers.
MenO
▶️ 3Speak
Decentralization aligns right behind lack of regulations so I don't know what people were actually expecting, and that's not the worse that can happen, well I guess if one is a significant crypto holder and your investment is gone, but with digital currencies, if adopted or mainstreamed, there is no regulations similar to fiat money. As a result, they can just take it, they don't have to have a court order, subpoena, nothing, notta, zilch, they can just confiscate your digital currency if you owe the state, feds or IRS money.
Really makes you wonder though exactly what Trump has holding over everyone's heads that people are so scared to investigate any of this going on. Yeah, I have to agree, it is giving crypto's such a bad name that as soon as a different administration is seated, and it isn't Vance, down the drain crypto's will go.
I am not so sure about Bankman as you are, I think he's to broke to fight his way out of a paper bag, the only out I'd see for him is if he was owed a favor by someone rather high up. He is though, Jewish, so there's that angle to content with, some people think Jewish people get away with everything.
wont and cant disagree with your points... its just that in a crypto hostile environment, one has to be hiding, as if we are doing something criminal (we are not). But I agree with your core point.
I guess time will tell... There's already bets being placed on Bankman
I guess it just sucks to me in crypto, lol, can't win for losing, it's never been that acceptable to the general public anyway, most have always naysayed it, and it finally seems crypto would get some sort of legitimacy, and it gets blown to shreds by inside traders and people complaining that in the real fiat world, the DOJ or FBI would be investigating what's going on with all that. What people fear the most though, is the potential for digital currency for adoption and replacement of fiat, and the reality of it is, there is nothing tangible about it, if you can't hold it in your hand, in your pocket, wallet or purse, you don't really have physical control over your money, and that's what people don't like about it. When pump and dumps happen, insider trading happens, and nothing is done about it, it gives people an even worse opinion of it, and make them skeptical about the whole concept. The fact it can easily be leveraged against you, "your own money" like China does is just plain a no go for the vast majority of individuals.