Bitcoin and various cryptocurrencies logos – Copyright AFP Giuseppe CACACE
Cryptocurrency, specifically Bitcoin, is the third dimension of finance. No one needed it, no one asked for it. The financial world was completely capable of transmitting itself and everyone else went bust without crypto.
Even organized crime didn’t need cryptocurrencies. Deregulation and corruption have made it easier for illicit funds to move around without a fully independent crypto system or market.
But of course being completely unnecessary has never been a big argument against anything horrible in human history. Nor did anyone “need” two world wars.
Just recently, this system fell off a cliff and the price of Bitcoin halved. The price fell so much that the short sale contract itself was sold short and wiped out.
This sound information leads us to human trafficking and Bitcoin. Yes, cryptocurrencies are the preferred medium for human trafficking. What happened was that the value of the cryptocurrency used for human trafficking was halved.
How sad! Imagine what those poor little rich slave traders might have lost their completely deregulated and normally laundered money.
The legal status of cryptocurrencies is complex. That’s illegal in China. It really depends on local currency laws.
In many countries, it is an “asset” and is taxable when converted into currency. This is kind of interesting because it’s not really a currency, it’s agreed terms of trade.
It’s interesting how deregulation always benefits crime.
Parking your car in the wrong spot will result in an instant automatic ticket. That’s the regulation.
When you enslave thousands of people, it’s a complex legal issue that can take years or even decades to resolve. That is deregulation.
Prohibition effectively enabled and created modern crime. It wasn’t really a regulation. The non-enforcement process was so cumbersome and ineffective that it cost organized crime billions in profits. The codes are almost the same. If “call your lawyer” is the only applicable method of enforcing the law, forget it.
Even if you lose money trading crypto, you are basically facilitating it. No one would have been too surprised when Bitcoin’s value fell to half of its value in record time. If people don’t keep going bankrupt, the price of Bitcoin will become a complete fiction.
Look at this process. It’s simple. Thanks to naive investors, prices will recover. Large sums of money will be available for purchase at very low prices, and innocents and fools will be rewarded when they buy.
Are you spellbound wondering what the crypto situation is in the US while the slave traders wait for their money to come back?
The Trump administration has been focusing on promoting the use of virtual currencies for quite some time. The United States will become the “crypto capital of the world.”
The Dribble designation is widely predicted to be another disaster across the United States under the GENIUS Act, which President Trump has modestly said was named after him. There is also a related articulation method.
It’s very hard to care whether he or his publicists have a sense of humor these days. Perhaps karma is simply setting up the shot.
In this genius, clear-sighted situation, financial collapse is the default prediction, and not just the usual sunny optimism of the Trump era.
This is where future idiots will come from. Stupid precedent. That’s terrible as a law. It’s certainly not a regulation. Do you want to become a “financial institution”? Issue a stablecoin. That is your entitlement under this law.
It would be a miracle if the US financial sector could survive this glorious situation.
