"Nothing Can Stop And Idea Who's Time Has Come". If BTC Has No Intrinsic Value, Then Why Fight Against It?
Is the US gonna accept BTC? That should be an important question to ask, now after El Salvador has declared Bitcoin as a legal tender in their country. The news has caused massive rounds of applause from the crypto community, but what about the US?
If checking the news today you could have noticed already that just a couple of days have passed since Bitcoin has become legal tender in El Salvador and the IMF is already warning them about their decision. The US doesn't like countries trying to circumvent the dollar. See Libya and Iraq here...
El Salvador doesn't even have a native currency, it's been using the USD for probably a decade or so, thus it is tied to the USD to some extent, and now introducing an alternative currency to the dollar in their country, it's probably gonna be a bit in trouble with the big boys.
For some of you The United States of America is simply the US, but for many of us it's more like the empire of the US. Whether some of us are accepting it or not, America has a high influence in the world, especially Europe.
The narrative according to which Bitcoin doesn't have any intrinsic value has been thrown around since its inception and so far the crypto community has trashed it by all means. One important question we should ask ourselves is: if it doesn't have any value, why are they fighting it and warning El Salvador about it?
I don't own any Bitcoin, I don't have a particular reason for that, but I'm an alts guy, but nonetheless I consider Bitcoin to be the epitome in crypto and am 100% sure that it's too late to make the crypto community sell and forget about Bitcoin, no matter the FUD and bans they'd throw at it.
We will always try and circumvent everything and live in this financial reality that we've created ourselves the past few years.
Crypto is a liquid industry. It fills places and makes sense in a whole lot of meanings. Take DeFi for example and look no further than Leofinance and Hive. What was Hive a mere year ago and what we are now. How many projects have evolved and become a success among us in the past six months or so. It's unbelievable.
This industry is liquid and malleable and signs of mass adoption are popping here and there.
I don't know who said that, but I like this quote. Watching closely the banning and unbanning of Bitcoin and crypto in all sort of countries such as India and Iran, it's a clear sign that the time for Bitcoin/crypto has come.
As I mentioned in my previous post, I believe we are on the cusp of a massive FOMO on adopting crypto, coming from financial institutions and governments themselves. The ones left behind will end up like North Korea, where citizens aren't allowed to use internet and have no clue how life outside the country looks like.
Another important point that we should address regarding this El Salvador event and the IMF warning towards the president of El Salvador is: how long will it take until individuals will wake up?
At some point, as plebs will start reading and hearing about Bitcoin and also notice the attitude of the governments towards it, will start asking themselves: why the government is not allowing me to use my money as I please to?
When you have authorities trying to forbid you from purchasing anything with your own personal funds and decide what's good and what's not good for you, you start asking yourself some questions and also embrace the attitude of the toddler which is... doing the exact opposite.
Call me nuts, but I believe the bull market is not over and that the time of Bitcoin has come. It's basically impossible to stop it right now. Enough for today though with my excessive bullishness on crypto. Time to get out and have some fun in the real world. Have a great weekend!
Thanks for attention,
Adrian
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Yeah they do not want Bitcoin to become legal tender around the world. The US is going to do all it can to protect the reserve currency.
I wasnt all that impressed by the El Salvador announcement of legal tender other than the exposure it generates. Bitcoin as a transaction token is not going to work.
The big development is in the mining distribution if they do open the geothermal to mining companies.
That is the big difference.
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True. I'm perfectly aware that Bitcoin wouldn't handle the business of becoming a currency but opens up the opportunities for others.
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The US government doesn't take kindly to people trying to get away from the petrol dollar, that's for sure.
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