Warning: IMF Boss Warns of Crypto´s Evil Side : Money laundering, terrorism, and economic instability.
The fudding and hating keeps rolling in and might not end so far we in the crypto space are successful because the rich hate seeing poor people or the masses being successful like them. From Warren buffet to Bill Gates, From Jamie Dimon (JP Morgan boss) to Mark Cuban, From Facebook to upcoming Google ban (see my former posts for details), from central government to their dogs (world bank, IMF) crypto´s : bitcoin, steem, Ethereum et al have been in the receiving end of hate and lies hence the fear from emotional traders.
Most recently, according to an article at bitcoin.com ,
International Monetary Fund (IMF) Managing Director Christine Lagarde released a blog post Tuesday, March 13, Addressing the Dark Side of the Crypto World. In it, she argues increasing fascination with cryptocurrencies has brought along grave costs: money laundering, terrorism, and economic instability.
Furthermore, she argues that
If financing terror isn’t enough to convince readers of the need for IMF intervention, “Financial stability is another. The rapid growth of crypto-assets, the extreme volatility in their traded prices, and their ill-defined connections to the traditional financial world could easily create new vulnerabilities,” she thunders. She goes on to unironically bluster about “working on these issues” for two decades. Read full details here
Her argument is fraught with lies and panic towards the success of cryprocurrencies which undermines the institution she represents
Why?
Word Financial meltdown: remember the world economic meltdown of 2008? Ie the largest economic collapse in modern history – which happened under the watch of IMF, World Banks and central banks and the main cause of bitcoin concept. Were they able to stop it? Or they could not because it was caused by their banks and financial institutions playing gamble with our monies? So IMF boss Mrs. Lagarde should spare us the claim that cryptos can lead to economic instability (I do understand that all technologies have limitations however cryptos are a better solution to their institutions).
Terrorism / Money Laundering: It is argued that most top Western governments sponsor both domestic and international terrorism with their currencies including money laundering which has been going on since the creation of cash. Moreover ,I do understand that some criminals can deal on crypto´s however the big / major criminals sponsoring terrorism and money laundering are central government and their institutions.
Therefore we all will continue our unity in supporting the success of cryptos´s (Bitcoin, Steem, Ethereum, EOS et al) because together, we will make the industry succeed-against all odds.
Do you agree? Send in your comments and resteem in order for others to join, upvote in order to send in your support.
Do you agree? Send in your comments and or suggestions, upvote in order to send in your support and resteem in order for others to learn.
Click here and read my former post:Warning: The risk of Cryptocurrencies –Mysterious Scammers stole Millions of Dollars
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the same thing over and over again, buy low sell high :)
Thanks for informing them. It's just a vicious circle of currency whether crypto or not.
Good point for daily traders ...however as indicated in my former post, buy low and hodl ( however take some profits before HODL in the long run, and diversify)
That's the best strategy in times like this indeed.
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The thing is it is not the first time something like this is happening. Fiat has been being used for terrorism, money laundering and drugs. So you can't just blame a new technology or new way of financing for responsible to this. Governments just need to upgrade your systems and move with time.
Good point indeed, thanks for your comment
That's right. Most new technologies are being used by terrorists like internet, airplanes, mobile phones. We cannot forbid technologies just because they can be used by bad people.
More interesting is that cryptos can actually reduce terrorism, because it's mostly caused by wars, which are funded by fiat system through taxes. But obviously most governments won't tell you the truth, because they need to threat citizens so they can justify more surveillance and laws against freedom of speech.
Not only is the constant FUD of various other issues (such as google banning ads which has been in the news for a week now and still being talked about driving the market), the daily crypto decline beginning around 8:30am pst, and people going crazy over potential SEC rulings frustratingly dull. Now we have these blow hards at Central Banks who have been responsible for every boom and bust cycle of the last 30 years creating FUD.
Wake up people. Crypto is how we escape the broken financial system and free our selves for the future. Quit selling and buy more.
Cheers to your health and wealth!
Good point indeed, thanks
An unending fud indeed against the crypto space from the same gang of greedy capitalists trying to keep all for themselves alone. .yes, cryptos are full of scams and criminals (there are scammers and criminals everywhere) , it s still far better than fiat that is even worse..Crypos are indeed here to stay and we will surely succeed -together. Thanks for a good post.
Point, thanks for your comment
It's all part of the grand design by 'financial establishment' to rubbish crypto by creating disaffection in people's mind against crypto.
Their jobs and mean of livelihoods are being threatened, hence the coordinated attack by these 'fiat mongers'.
Crypto is here to stay. No amount of conspiracy will dether our resolve to decentralise all aspects of life and living starting with the financial services.
Very good point indeed, thanks for your comment
This just released:
There...fixed.
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Point
Here is a prediction that a trader made today. You can see his technical analysis chart here. Make sure to read the comments as well. This chart is showing what is called a falling wedge meaning that there may be a breakout up towards $10.5k plus for BTC. So, what does that mean?
It means that you can trade bounces between short term highs and lows. This is just an example, not an actual "trade," but if you were to get some BTC right now (around $9100 as of this minute), you could then sell it when if it goes to $10.5k, then if it dips again, rinse and repeat. Right now, it is looking like BTC is staying above $8k, though it has been struggling to break through $12k. So, you can try to buy when it's in these low ranges and sell when it pops up. This can be done with other cryptos as well
Buy low and sell high as indicated in my older post...good point
before the crypto rising in speedity as now days, any thing worried has been happened with high devastating. crypto brings nothing but prosperous and right equal to the people over state boarders.
thanks for sharing.
Welcome and thanks for your comment
Legacy money is fighting back
BIS Chief Fears "Systemic Threat" Of Bitcoin, Urges "Pre-emptive Action" From Authorities
Good point...nice pic
Sir @charles1 ... nice efforts to prevent crypto currencies from bad evils, the crypto currencies are good for investment, they have no barriers and specially steemit provided a big opportunity for all of us to become rich by doing hard work... and all the richest people not like that, so they put allocations on crypto currencies.
But be united and help each others to promote our platform of crypto currencies like steemit. Thanks for sharing
Good point, thanks for your comment and success to you
Welcome sir... I always read your post.... and like these..