Today, we bring you a special series from our guest author, Brian June.
Brian is an author, adventurer, and serial entrepreneur. For more than 40 years, he’s been a student of humanity, markets, and empires. He’s a principal of two crypto OTC trading firms (iBuyTezos and The Coin Trading Company) and loves to explore life and the planet with his wife, Val.
Crypto Wars: 2019 (Part 2) The Axis Against Crypto
Happy New Year!
Last month, I started a series called “Crypto Wars: 2019,” reflecting my observations about the general crypto markets and Bitcoin in particular. If you didn’t catch the first installment, you can view it here on EscapeArtist.com
The three main takeaways in Part One are:
- Bitcoin is definitely not dead.
- Fewer miners result in lower difficulty and lower costs for remaining miners.
- Several use cases do exist, the most important is unrestricted movement of funds across borders and without banks as intermediaries.
In this second installment, I’ll introduce what I call “The Axis Against Crypto!” (Did I mention that this would be both educational and fun?)
The Axis is made up of three domains: 1) Almost all Central Banks worldwide. 2) Most governments and legislatures. 3) Institutional “too big to fail” banks. And though I’m having a bit of fun with wordplay, these massive players do NOT want to see crypto succeed, unless of course, they are in control.
And control is what it’s all about for all of the Axis players. Although the mainstream media rarely reports on any of this, several articles have appeared in 2018 specifically discussing Central Bank issuance of digital currencies. In fact, The Bank for International Settlements (BIS) conducted research on the subject in early 2018 and published a white paper on that very subject. You can read the report “Central Bank Digital Currencies” for yourself.
No doubt, this theme of Crypto Wars is going to be played out more fully in 2019 because the Axis really does not know what to do about a system where you can move your own fungible assets anywhere, anytime, without permission.
In next week’s installment, I’ll begin to build out this theme, taking each domain on.
If you haven’t read part 1 here it is:
Crypto Wars: 2019 A Series to Educate and Amuse
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