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Let’s talk about the role of governments in crypto currency.
Without a doubt, governments actions affect how or why crypto is adopted by its citizens.
The very reason Bitcoin was brought into existence was in many ways a philosophical response to how governments have control over the rules of their countries respective currencies. Whether a government has chosen to be encouraging of the use of cryptos as a way to achieve their goals of being a cashless society like in Denmark, or if a government is actively enforcing capital controls like in Buenos Aires, governments have a very real way of motivating people to explore their options for storing or transferring their monetary worth, and this is leading them to cryptocurrency.
The reason I wanted to speak on this subject today is because of the recent news regarding the new Bill introduced by the US senate that would require all travelers entering the country to declare any holding of crypto that exceeds $10,000. It has only been introduced, has not been passed. But if it is passed, that will mean if you travel with your hardware wallets and they are storing more than $10,000 or more worth of cryptocurrencies you’ll need to declare it or else suffer the consequences of “smuggling” money.
Now I’m not sure how this wouldn’t also lead to the eventual inclusion of having to report your entire bank account since we can access those with our debit and credit cards, but I’ll leave that little thought nugget here for you all to ponder.
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Now let’s consider how certain regulations affect the growth of blockchain based and crypto based companies in that area. In New York for example, a city known as being a dominant financial hub and home to Wall Street, is one of the U.S. cities that has relatively strict regulations on cryptocurrencies with the implementation of Bitlicense. New York was once home to the online crypto exchanges Kraken and Bitfinex but the restricting regulations have since led these companies to relocate to the more crypto friendly state of California.
It sure is interesting to see which cities and countries are handling this new wild west of cryptos. Some want to try and control it and tax it as much as possible, which might very well end up like a kid trying to hold a wet bar of soap- the more you try to hold on to it the more it will slip away. Like in New York, it’s regulations have already driven out a few companies while others put up with the extra red tape for the sake of having businesses in the financial capital of the world.
Much like how early investors of crypto have reaped the benefits of getting in early, the US states and other countries that choose to facilitate crypto based companies I believe will have the chance to improve their economies.
Bitcoin and now other cryptocurrencies allow us to explore options for borderless, freedom-based, wealth transfer.
At the heart of cryptocurrency, despite the potential for making money, is very much a philosophical ideal of monetary freedom. They are a reminder that human beings are capable of self-governance and that a free market will promote innovation. It’s a breath of fresh air for those already knee-deep in libertarianism and it’s a wake up call for those who believe that governments will always be needed for nearly every aspect of life.
i just shared this video. Current view count: 3814
thought nugget ?
Can you elaborate on crypto laws for trading?
Very informative video, I hope this bill does not pass!
it is SWEDEN (not really Denmark) who are currently pursuing that politicians' wet dream of becoming the world's first "cashless society" (like so many other times when the Swedish junta of feminist-socialist do-gooders deprives citizens of the most simple freedoms). Close, Heidi, but still a different country!
You should (still) visit the place some day: Norway and Sweden (as well as Denmark) got pretty nice views to offer. I can show you around when you do (from Denmark, used to live in Sweden for a few years. long story)…
The government imprisons us.
12 word Brain wallet!
If you can recite a lyric to your favorite song you can cross all boarders with millions in bicoin with NO questions asked!
This is an excellent approach to crypto news… not technical, but informative for a broad set society.
Short, not long. Professional.
Well done!
Hallo Heidi,
I think that researching conspiracies and understand fully why we need anarcho capitalism would be great for your future.
Denmark is not a a cashless society, but yes you can use credit cards everywhere and it could be that they remove the cash soon.
https://steemit.com/eos/@lasseehlers/illuminati-is-burning-eos-decentralize-everything
Personally I am beginning to focus more on privacy.
Lasse
Good luck trying to get people to declare brain wallets.
im so sick of governments
I've loved your stuff for a while now! I'd love to do an interview/collaboration with you. 30 minutes and introduce my audience to your channel!
Feel free to go to my youtube channel and see my last collaboration with cryptobud!
I'm sure we'd have a ton of fun chatting!
I love how well spoken you are and the preparation you put in!! It sets you apart from the hundreds of others out there making videos on crypto. You do your research and you don't ramble. Keep it up!
thanks for the videos! loving this new world!
I get headaches thinking about the IRS and taxes. Right now Coinbase doesn't have to report anything but in the future they might, and that sucks. How the hell can you remember everything if you're a trader?
Will you marry me <3
I agree with you 100%, however, please beware of libertarianism. Libertarianism is a corrosive, destructive, anarchical belief system with many connections to leftism. Conservatism is fine, but libertarianism is the deformed ugly step-sister of the left. Don't confuse anarchy with freedom and healthy disruption, as they are two completely different things. Anarchy is a tool of the left. Healthy disruption is a tool of freedom. They are two completely different things. Libertarian anarchism seeks only to destroy but does not offer any constructive solutions for individuals or society in general. My solution to our social problems is FREE AND VOLUNTARY STERILIZATIONS! There are way too many people in the world for mankind's systems to supply a decent quality of life for everyone. All it will take is one small disruption in our transportation, energy supply, food/water supplies, etc., and the house of cards will come tumbling down. Our own manmade systems are on a knife edge, and with 7.5 billion people, any disruption in our life saving supplies will be utterly catastrophic.
The regulations in NY are ridiculous. Isn't there some legislation coming in August that's gonna be big?
wish there were more people like you in Washington DC. tech industry
2000 years ago, people are holding gold.when more people adopt paper money. king empire is over. when more people adopt crypto currency, I believe government will over.
if 2000 years ago, I told u in future there will no longer have king control the country, no one will believe. I think government will replace by somethings new government which is more efficient.
your eyebrows aren't symmetrical
whatever it is the government cant get their hands on or can tax they instill fear well I hope the will fight a losing battle with cryptocurrency
Second