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If you've glanced at the crypto market at all today, you can see it's way down. It appears to be due to U.S. regulatory pressure and speculation that the #EthereumETF will be rejected.
Here's the real question ๐ง Why does the U.S. Government hate crypto so much? - The largest markets are in the U.S., and it's not like politicians hate making moneyโunderstatement of the century ๐บ๐ธ๐ฐ
So what gives?
It's not about issues of market maturity, volatility or fraud risksโthose arenโt exclusive to crypto. It is about control. The U.S. has long relished $USD as the global standard of exchange, which gives the government, and the federal reserve, significant control over the global distribution of wealth. ๐๐ต
#Bitcoinโฏโฏโฏ was created to strip governments' control over people's money.
- Governments have the power to dilute wealth through inflationโa silent thief that's boosted prices in the U.S. by 3763% since 1900 ๐ Historically, government-controlled currencies all deflate to zero, thanks to persistent inflation tactics like coin clipping or outright fiat money printing.
- Governments limit access to funds, set restrictions on international transfers, and even freeze accounts entirely during economic or political crises. Citizens are always vulnerable to exploitation by bad actors in positions of power or influence๐
A critical feature of many cryptos including $BTC is that inflation schedules offer transparency and immutability. If #Bitcoinโฏโฏโฏ prevails, the U.S. government would lose the monopoly over global distributions of wealth.
