What Happened to True Decentralization? How the Bed of Politics Hurts Cryptocurrency
Remember all those moons ago when the only real issue with the crypto market was how other nations were getting, or not getting, involved? When the thrill of an economy free of regulation and of reflecting Wall Street, was seemingly possible. A lot has changed, however, despite the fading of decentralization, there are glimmers of hope, as well as analysts, who believe crypto will bounce back.
After all, this is the nature of the beast. NFTs have made their mark in the cryptoverse as well as the crisis in Ukraine, and United States inflation. Stadiums have crypto-related names, more major retailers accept crypto and many retirement accounts offer cryptocurrencies. Money managers and investment firms have started to take cryptocurrency seriously, wined and dined it then added it to their artillery of investments offered; moving crypto closer to Wall Street’s dancefloor.
Before the US government zeroed in on cryptocurrencies, seemingly, healthcare reform, and social media moderation was on the table yet fell to the wayside. In some parts of Asia, cryptocurrency was found helpful during times of economic distress. The average citizen could invest in something and actually support their families regardless of their low income. The same is true for those in the United States. People felt, despite the bullishness, safer in a Digi-economy than in stock markets.
Too many rug pulls? Crypto shadiness including money laundering, and embezzlement? Well, these events are certainly not exclusive to this community/industry. This happens in politics even if bitcoin didn’t exist. And why is it expected that a group of lawmakers will ever understand blockchain? If they had a true grasp of the technology, they’d realize it could be utilized in a plethora of facets; as already proven within the healthcare system’s hospitals and labs. It could help with distribution and more.
But again, seeing the pattern, it’s clear this is nothing but a money grab and a way to prevent citizens from saving up independently for their future. Retirement no longer exists for the middle and lower classes, and “take-home” salaries after taxes, simply aren’t enough to live on for a majority of families.
Everyone is watching the dipping, then rising, then dipping market trying to regain its balance. There are still glimmers of hope while analysts grapple to find projectors. The cryptocurrency sphere was never intended to reflect inflation, the stock market, or combats.
Ultimately, this is simply a new and crazy era, however, based on the crypto market’s history as a whole, it will soon pivot and learn to adjust. Not only will it have to, but it also wants to. Keeping the faith, speaking with different crypto-communities, and mustering the strength to “hodl”, all help in the effort to make cryptocurrency strong again. Bitcoin et al, are not going anywhere. No crash will ever dismiss the utter importance of the market/tech.
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