If you instigate, crypto will fight you.
We like this.
They also fight you softly, with education.
We LOVE this.
The US is doing what we said they would do, and throwing the kitchen sink at crypto while they still can.
Not only going after Binance and Coinbase, but also blindly labeling a bunch of tokens as securities.
Are they actually securities? They are, but it still brings panic to the less experienced (dumber) investors, which saturate the crypto market.
Polygon’s MATIC token is one of the tokens mentioned. It’s also one of the favorites here at nononsenseforex.com and Our 10 Minute Contrarian Podcast.
Whilst none of this was unexpected, and we love anything that gives us lower prices, ESPECIALLY when the company does nothing wrong, what we liked even more is Polygon’s response to all of this.
Let the others duke it out with violence. Polygon will respond with education.
The US House of Representatives’ subcommittee on Innovation, Data, and Commerce gathered to discuss the future of Web3 and all of its components this past week.
Polygon was there front and center, to educate a lot of uneducated people.
And even though it’s edited, I know, it looks like it all took really really well.
Understand, a lot of people in congress are not only freaking old, but will do what most people do and not support something that makes them uncomfortable and challenges the status quo.
Thankfully, a subcommittee such as this one is more welcome to change, by nature.
This is a great place to start, because you’re talking to a more open-minded audience, at least as far as congress goes.
If you can get these people on board, other dominoes will begin to fall.
Here is the video.
They really did a brilliant job.
They also satisfied racial and gender “quotas”, which shouldn’t ever be a thing, but it can and will be used against the industry. It already has, many times.
Here’s a fun trick, mute the video and watch some of these guys talk. Notice how rational and calm they are.
Now go to a video of somebody from the hardcore left or right talk, and see all of the bad acting and histrionics behind their body language.
It’s done for a reason of course (pandering to the lowest common denominator).
But it’s refreshing to see we’re on the right side.
And what I like even more, is how simply explaining to everyone the benefits and the lack of harms, preemptively, can go such a long way.
Proactive instead of reactive.
I love how this industry fights.
We already know the lengths the US has gone to over the past 100 years to protect the banks and the USD hegemony.
But there are multiple ways you can approach this fight.
And simple education, especially now, is paramount.
We need as many of these people on our side right now.
Because who the hell knows what’s going to happen in November of 2024.