No Future For Bitcoin & Crypto In The US?

A Warning From History

History has a way of repeating, and although events are never quite the same, patterns and behavioral tendencies begin to emerge. Looking at Egypt today, it’s difficult to imagine how this was once the “powerhouse” of the world. However, Egypt is not an isolated case. Many kingdoms have come and gone over the centuries. Sadly, the US is displaying a number of worrisome signs that point toward a kingdom that is on the road to ruin.

Last week I published an article entitled, “The Reshaping Of Global Stratification & The Role Of Crypto”. I address the aspect of location independence, in terms of earning income, especially within the Crypto realm. The shift to more Crypto friendly locations that are also governed in a way that does not infringe on basic human rights is definitely on the rise. The US doesn’t have the “leverage” it once had.

So, when you combine location independence, in terms of generating income, together with the regulatory and legal stance of the US… what do you get? Well, quite simply, it’s an invitation to “please leave”. That’s what it really all boils down to. Countries adopt policies, and pay attention to tourism… all in an attempt to gain tourists, and eventually citizens. The US is currently suffering an egotistical stance that was evident in every other collapse in history.

Once a nation has enjoyed a period of preeminence, pride sets in, followed by delusion. This is when the “too big to fail” and “we don’t need you” mindset takes hold of the steering wheel. Historically, this is the beginning of the end. At this point, it really doesn’t look good for Crypto in the US. Ironically, this is the “land of the free”. Furthermore, we are currently witnessing the explosion of the de-dollarization narrative.

It appears as if a “perfect storm” is busy building up in the US. Many initially thought that the US would become the new leader in the Cryptocurrency space after the China debacle. I think we can definitely write that one off now. Regardless of whether there is an easing in policies, leadership is no longer a possibility. It would literally take a miracle, which is possible, yet EXTREMELY unlikely.

Paxful CEO Sees No Future For Crypto In The US

In a recent interview, the CEO of the well-known peer-to-peer Crypto trading platform, Paxful, came across as extremely negative in regard to the US and Crypto’s future within its borders. Ray Youssef (CEO) had the following to say:

We’ve been bending over backwards for the last four years to ensure that we are complying … now, I don’t see any real future for bitcoin or crypto in the United States.

Now, this is a rather dramatic response, but is to be expected from an industry player who has decided to “hang up his gloves”. Essentially, it creates a plausible reason behind Paxful’s decision to suspend its Crypto marketplace. Whether or not, it holds the weight he is portraying, remains to be seen. Either way, it’s not looking good for Crypto, especially Crypto entities within the US.

I think many of us are waiting to see what happens in Hong Kong. It is likely that the introduction of their new rules in June will be quite bullish for the space. However, if you know anything about this space… anything can happen, and at any time! With many of us beginning to cautiously envision a new bull market, there is a lot that could happen this year… both bullish and bearish.

Final Thoughts

I think for many of us, the stance that the US has decided to take is a significant disappointment. However, we are not deterred… adjust course, and continue! This sector has risen despite tremendous opposition over the years, and oftentimes, from who many consider being the most influential voices in the world, at this time. Furthermore, understanding true decentralization gives you an edge, and is definitely an understanding that the majority of policymakers (no matter the country) are completely ignorant of. All the best, stay the course, and see you next time!