Regulatory Hammer?
Although I am a newbie to Steemit, I have been involved in cryptocurrency since mi-2015. I've also been a licensed investment advisor since 1995, although I'm retired for the past 8 years.
One of my biggest concerns about the crypto movement is the fear of the regulatory hammer coming down hard. It has always been true that when the powerless become empowered, there is a reaction from those who control the underlying power of the economic markets. When the powerful are threatened, especially by something they don't understand, and which they can't seem to control, they become the threatened animal, trapped into the proverbial corner. When that happens, all bets are off, and the powerless will understand why they are at the bottom of the food chain.
When Bitcoin was trading low, it wasn't considered a threat to the establishment. Now, with an approximate market cap of $300billion, alone, Bitcoin observers are sitting up and taking notice. Most of them have no clue on how to manipulate the workings behind cryptocurrency, primarily because there isn't any, which is the point. The establishment has little interest in participating in the explosive growth patterns surrounding Bitcoin, Ethereum, Litcoin and others. They want to be able to control those growth patterns, so that they can benefit from the edge they will gain in it.
So, what happens when the establishment figures out that cryptocurrency markets lack the control handle they are searching for? What happens when they realize that they are just another link in the blockchain analogy? Will they just jump in with both feet, happy to join in with the masses? Will they ignore a market that is growing beyond any investment vehicle they've ever experienced? OR, will they demand that THE HAMMER come down on this ethereal vehicle, wanting no one to benefit from it if they can't control it?
I know what I think will happen as we see cryptocurrency maturation and acceptance. Do you have an opinion? If so, share it and let's see where it goes.
rpagjd007