March 7th A Date That Changes Everything?
The crypto markets have seriously been struggling. What honestly shouldn't matter to bitcoin such as news and events as any kind of inflation in the fiat currency should actully be a good thing for bitcoin and crypto for some reason still has major effects on it for whatever reason.
The most recent sell off seems to be triggered by the news of Trump reinforcing that he would be slapping a 25% tariff on Mexico and Canada soon once again. This sent shockwaves into the markets again which triggered everything to sell off.
However in new news focused directly on crypto Trump will be hosting the first ever white house roundtable ever which will focus on getting details what businesses need etc in order to start to really get involved with crypto.
It seems like one of the primary focuses will also be stable coins which might not sound all that great but it does open up a ton of liquidity to the crypto sector once again. When we see high liquidity we often see a massive rally in crypto and when things get tight is often when we have major sell off events.
This for now seems like very bullish news for the crypto industry and could be one of the first major turning points for crypto in the USA and well around the world for massive adoption of the asset.
However a part of me wonders if bitcoin and crypto will lose it's luster being that it gained its popularity by kicking out banks and a way to stick it to the government who was taxing the F out of everything and invading more and more freedoms and privacy.
This almost leads me to believe that was could see the crypto sector splinter off into two areas. One that is more involved with banks and the overall focused into the financial system that's already in place and another that is super heavy on privacy such as monero. Which would be more of the focal point of the cutting out the middle man and sticking it to the over taxing government.
This summit should mainly from the sounds of it go over the start of what regulations might look like such as what companies need to be fleshed out before starting up operations with crypto assets but primarily targeting stablecoins which means most banks will soon be issuing their own stablecoin tokens.
Now there are some pros to this such as increase liquidity but also speed and lower fees of transactions. But you can bet yet that banks will still be charging fees on those swaps and trades as that's their main bread and butter of the company.
Posted Using INLEO
Swap money to pay staffs..
I also think that what most banks do here. They charge for the least things, even for filling a form.. You get debited. So I guess same thing will be happening which then turns people to owning cryptos like Hive.
There are also a lot of fees, gas, ... when you change, swap, crypto. They are even higher as bank fees.
So what is better?
95% of people will always do ease of use even if that means higher fees
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It's totally being manipulated. That became very clear with the pump today.