US Senator Bradley Sherman recently called for “banning cryptocurrencies”.
The substance of his argument? The rise of Bitcoin and its turbulent offspring would be likely to compromise and to waver on its bases the dollar and, therefore the American supremacy in trade and global geopolitics (and Bitcoin finances terrorism, it has been a long time).
If our friend Brad is not really his first try (he had already started hostilities on the same subject in July 2018, causing an interesting, albeit puerile war on the scale of a half weekend between the American Congress and the Crypto US Twittosphere under the hashtag #CryptoCongress), the fact remains that reactions of this kind are the symptom of a fundamental phenomenon: The end of an era.
Forget the notions of Bear and Bull Market: We are now entering the fight phase
It is a common place but it retains its relevance : any scientific, technical, political or moral revolution in the history of humanity goes through 3 phases:
1 – Ridicule, derision and contempt: the concept seems grotesque, the innovation is considered insane, useless … its designers and rare defenders attract the jibes or in the best of cases, indifference of a crowd with very little concern.
2 – one fine day, we consider it dangerous: suddenly it should be fought with the last energy, to destroy it. The new idea is considered to be subversive, it jeopardizes established frameworks, social conventions. In the most extreme cases, it can be referred to as the embodiment of evil itself. Staying inactive is out of the question: for the common good, it must disappear!
3 – It stands out as obvious : the dust settles, the time is no longer for opposition, even less for denunciation, it becomes essential to follow the movement. The idea yesterday subversive is now integrated into the system. Very often, the worst enemies of phase 2 will be the first to consider…. that the idea was obvious.
You see I imagine where I am coming from …
Walking the blockchain in 2010, a geek hobby
The first years after the birth of the baby of Satoshi Nakamoto (let 16 bit music accompany his steps forever, wherever he is), the few thousand “early adopters“Across the planet were to attract almost the same condescension and the same type of mockery as the entire nerd generation since the 90s.
Basically, undermining this bitcoin quirk was to make our proud pioneers look even more asocial and twisted than they already were with their online games, their immoderate love for science fiction and pop culture and their valves in binary .
It was the authentic stage of ridicule: “ will look Kevin “,” you think you’re going to get rich with your Monopoly on a computer, mouhahaha ”,” you’re going to have to find a real job huh ” and other jokes emanating fromuncle Robert, at the time fax salesman of his state (I deeply respect fax sellers eh #NoOppression).
So of course it’s easy to talk now that Kevin just became a crypto-millionaire without (seeming) to do much, while Uncle Robert has progressed and now sells smartphones (“must evolve ”), but you got the idea.
If since then, a multitude of events have punctuated the very young history of blockchain, this phase of the mining pioneers – associated with the general hilarity – deserves to be compared to a similar phenomenon experienced more recently by the crypto investors over the 2017-2018 period.
“Go take the air Matheo”, “do you think you’re going to get rich with your fake purse?” Mouhahaha ”,“ we will have to find a real job, huh ”, oh so emblematic remarks to which we must add a special mention n / a 2018 “ah yeah, -80% on your stuff there … no, well done, well I prefer booklet A”(You see VERY WELL what I mean, don’t deny it).
The danger phase: the enemy is the Blockchain
On a purely personal note, it is with undisguised pleasure that I see these last days to multiply vociferations of all stripes, some calling outright to “ban cryptocurrencies “.
On the front line, we obviously find the great Bitcoin slayer before the Lord, I named the Oracle of Omaha and third richest man in the world Warren Buffett.
Bitcoin? It’s a game of chance … and it has been linked to a lot of fraud. It caused a lot of losses. Bitcoin has never produced anything. It has no form of importance. He’s right there. It’s like an empty shell, and it’s not an investment for me.
Source: interview with W. Buffett taken by Coin Telegraph
We could also mention the apocalyptic declarations (this is his specialty) of Patrick “Dr Doom” Rombini: “Cryptocurrencies are the father and mother of all bubbles“.
But it is especially the very last rantings of the Senator Bradley Sherman who best materialize the frank and massive entry into the combat phase. You will understand, the gestures of the American politician ring in my ears like soft music!
Afterwards, it’s easy to make fun of it, but we have to admit that our French senators didn’t do much better in early 2018
So, of course, it would probably be a little too easy to recall:
So if the recent tremors, possible signs of a market rebound and heralding the end of the crypto winter, represent good news (let’s not deny our pleasure!), What is currently playing out is probably more fundamental.
The day of the evidence will come: cryptocurrencies, blockchain, smart contracts will seem to have always been there, signs and symptoms of true mass adoption.
However, the road remains long! If 2018 will have been the year of regulation, the coming period will see many forces converge to combat a phenomenon that they used to treat with contempt, derision and now rejection.
Nice to meet you, it’s Hellmouth! Editor-in-chief of Bitcoin, the crypto media you are honoring to survey right now (well done, you have taste).
Crypto-enthusiast of the second hour, nothing is more important to me than supporting the global adoption and democratization of the treasures that the blockchain offers us.
I write articles between two cocktails in Tahiti, my adopted island, and do not hesitate, if the opportunity arises, to feast on a plump scam or a little too enterprising Ponzi pyramid.
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