Both Bitcoin Maximalists and The Crypto World Encourage S.E.C. Regulation

In my last article, I addressed the current liquidity crisis in bitcoin as primarily due to the movement to bitcoin legal tender and increased legacy participation while relegating the exchanges and DeFi debacle into a diminishing sideshow.

It is the qualities of bitcoin that support this view, a view shared in a special June Contagion Report prepared by Dylan LeClair and Sam Rule who conclude, “The proliferation of unsecured and under-collateralized lending across the crypto industry in particular [sic]should serve industry participants a tough lesson on the ills of counterparty risk and systemic leverage, which is something that bitcoin was quite literally invented to fix.”

The problem of legal tender and legacy participation is a different beast entirely. While The Crypto World scam is real, it is a Sunday School Picnic compared to the three greatest swindles of all time, inflation, entitlements, and regulation imposed by governments. While we are seeing bitcoin quickly fixing the inflation abuse by The Crypto World, regulation promises to legitimize what the market is cleansing. Yet both Bitcoin Maximalists and The Crypto World seem to be agreed that regulation is necessary because it can not be avoided.