Community Trust ScoreLikely Real
- Amendments to Crypto Surveillance Provision in Infrastructure Bill
- Still not good for Lightning Network Even with Amendment
- SEC Chairman called Bitcoin private money on CNBC
- Time to Accumulate – Sell the News Later
Jake Chervinsky expressed: Tell them that you support the Wyden-Lummis-Toomey amendment to fix the unacceptable crypto surveillance provision in the infrastructure bill.
The call for an amendment to the must-pass bill is becoming important as it will permit mass surveillance of the crypto economy. Regulators are very near to enacting new laws for Bitcoin, which are overboard and dangerous for users.
Crypto Red Alert: Hidden within an upcoming must-pass infrastructure bill is a cryptocurrency provision that will expand US government surveillance of cryptocurrency.
The fact is, it is still not suitable for the Lightning network even with an amendment.
BTC story is more about the sovereignty of an individual long-term. Less about another regulation. The trust is already built into the code. Government is the last people the cryptocurrency will want to trust.
Michael Saylor expressed: As Wall Street gets more comfortable with the regulatory framework governing Bitcoin and crypto-assets in general, institutional adoption of BTC will accelerate.
Gary Gensler, SEC Chair, expressed, “I’m pro-innovation, but we also need rules of the road. If Satoshi Nakamoto’s invention is going to meet its potential, it needs to come within public policy frameworks.”
Also, the SEC Chairman called Bitcoin private money on CNBC. This is like he admitted BTC is for real, like fiat money.
Onlookers are like: The point is well noted. Historically, this governments definition of a “free market” means a market free to pillage by some while limiting or excluding access to others.
If investment relies on government policy, so does the price. And, when Government shifts its policy, the price will suffer. It will no longer be a free market token.
The “rules of the road” should start with sound monetary policy, and the madmen behind the printer have none. Like asking an alcoholic for health advice. I’d trust MIT students/alumni over Wharton-EDU “professors.”
Institutional adoption has been accelerating at a record pace – just this past week, we’ve seen ATM companies are acquired, JP Morgan is offering BTC to their customers. Goldman is applying for a DeFi ETF.
There are other investors who are not bothered about bills or amendments, and they are like: Imagine waiting for 20k Bitcoin now. You’ll not only miss the opportunity of buying at 39k but also lose another 10k until you finally admit you were wrong and buy at 50k or higher. Denying the truth doesn’t change the facts. Bitcoin rally to $100k has already started.
This is the time to accumulate because once “Institutions, “CROOKS get involved, you won’t be able to even whisper the word volatility for fear of a stroke. We’ll ban the word manipulation out of absolute terror. Get in now so you can sell the news later.”
