I’ve been hearing some otherwise pretty smart friends recently express concerns that Bitcoin can be shut down by banks because there are back doors.
My response: “No, that can’t happen! Don, Bitcoin and other cryptos can’t be shut down through any back doors, can they?” Don: “NO”
South Korea has imposed regulations. But that regulation is only imposed on South Koreans. And even they are objecting to the regulation: South Korean Petition Against Crypto Regulation Gets 200K Signatures, Government Must Respond
There’s a lot of negative propaganda. Something that is important to remember is that the banking system that has controlled humanity pretty much since the days of the Roman Empire (maybe before) sees its eventual demise in the success of crypto currencies, which write the banks out of the financial equation. Some coins that include language for contracts, like Ethereum, even promise to write the legal profession out of the financial equation. One by one, we free ourselves from the control mechanisms that have bound us. If those control mechanisms have a chance in delaying or preventing that freedom through conventional (old) means of influencing people like the MSM, they will do it.
Some are influenced by that fear. They might withdraw from crypto for a season.
Others want to be pioneers. They will stay in.
Guys like Clif High predict many, many others will soon jump in.
So, is the crypto craze over? The craze may be at least suspended. But the concept of crypto releasing humanity from the tyranny of the banks lives on in the hearts of freedom fighters who express the concept by stepping away from the banking system at every opportunity and in every way possible.