Josh Sigurdson breaks down the recent news surrounding the cryptocurrency ICO ad ban on Facebook, Google and Twitter.
Of course we’ve seen a bear market recently and news that negatively affects the crypto market is going to further cause dips. However, there’s more to the story.
As companies like Twitter play the nanny and ban ICO ads, Twitter’s CEO Jack Dorsey openly endorses Bitcoin, buys it, integrates Bitcoin with Square (the phone payment app) and invests in Lightning Labs which is one of 3 companies developing the Lightning Network making Bitcoin transactions nearly flawless.
Alongside Dorsey are people like Peter Thiel, Mark Cuban, Jamie Dimon and other big name investors. Yes, several of the above attack Bitcoin regularly, but they still buy it! That should be a major tip off.
Almost as if market manipulation is alive and well! Duh!
Bitcoin has hardly reached its potential and fees are at incredible lows vs volume. Major companies are looking at integrating Bitcoin like eBay and PayPal.
There will always be attempts by government to regulate and hurt the markets just like there will always be fake stories coming out of the media spreading FUD about cryptocurrency, however, the laws are long term unenforceable and the FUD will be met with a greater understanding by the public of how adamant the media is to bring it down.
As always, we break down how cryptocurrency and the centrally planned cashless society are exact opposites.
Fiat is centrally planned, legal tender currency based in debt with no cap on creation as vast sums are printed causing inflation, devaluing the currency via quantitative easing and fractional reserve lending.
Bitcoin is decentralized cryptographic currency, not enforced by law on the free market with a cap on creation, based in scarcity, demand and application use. Far different.
The key is decentralization vs centralization which so many can’t seem to understand.
Yes there is a coming global cashless society pushed by governments. No it is not Bitcoin. The blockchain itself can be used for good or bad. It’s up to us to understand the differences so we can ensure it’s used for good.