/biz/ - Business & Finance

Right now governments of the world are moving to throttle every smart-contract-bearing and anonymous crypto. The confirmation of plans came in the form of Brian Armstrong's public tweets... as much of a fair warning as you can be expected to receive.

In case you are wondering here are the reasons.

1. Crypto circumvents the existing money system. That means evasion of money controls, and where these controls are tactical and diplomatic, that means you are literally crossing the power structures of political control around the world.

2. The way they have been fighting it is with creeping regulation, starting with exchanges and money exchange operators with KYC.

3. Since all crpyto Tx is basically being tracked and analysed, each fiat gateway will have to affirm the coming tenets of regulation, freezing account balances where coins have moved through mixers, into and out of smart contracts, between parties where an intermediate address is associated with dirty crypto. Did you "provide liquidity" on uniswap? Congrats, you helped launder drug money. Your crypto is now dirty.

4. If you have ETH in a wallet and its chain of custody connects in some way to ETH which was used in any of these circumstances, it is on a "black list".

5. Anything minted in a smart contract is going to go to zero, including the market cap of tether, "platforms" like waves, xrp, any ICO, and "services" like chainlink.

6. Privacy coins will go to 0. There is no viable way for them to survive.

Assets being sold into bitcoin is going to drive its price past prior ATH, along with the supply being effectively halved again because of blacklisting balances.