So many people are completely missing the point of the crypto summit

We are finally witnessing the US govt take away many of the strangleholds and roadblocks of the crypto industry. All people keep posting about is how the market is down and trump getting his boots licked.

I, however, am extremely optimistic for the future.

“They are licking trumps boots”

Did they bend over for trump? Of course they did. I would argue that it’s a small price to pay. Would you rather be fighting an executive body that hates crypto with the backing of the legislature and Supreme Court? Strangling industry adoption for another 4 years? Bringing more old money biased law and regulation down on your bags?

“He’s just trying to make his rich buddies richer”

Of course he is. However those rich buddies with two brain cells to rub together know that many big players can and eventually will use blockchain to solve problems. Especially the banking industry. This is not the time to sell, it’s the time to hold (in general).

“The crypto summit happened and the market is down”

Are you telling me a big crypto event happened and nothing moved the way you expected? Must be your first time. The world is dealing with difficult macro economic and social issues. Although the summit is extremely consequential, the lessons I learned during the 19-21 bull run taught me to always temper my expectations when it comes to news and events.

“So much for decentralization”

Did you truly believe blockchain tech was going to innovate in one single perfect form? If you want crypto/blockchain tech to be successful, you need to accept that some projects will be more centralized than others. I think the decentralized nature of bitcoin is a beautiful thing, but if your idea of the future of this starts and stops with how decentralized a specific blockchain is, then you will stifle innovation and the industry as a whole.

In closing, I think we saw a historical moment for crypto as a whole, and many people are dragging political bias and unrealistic expectations into conversation that don’t belong. The next 4 years are a race. Lick the boot, and get to work. If we see mainstream adoption of even a few big players in the game, and can show the blockchains value between now and 2028, it’s going to be a lot harder for future crypto sceptic administrations to dismiss or tear us down.

Edit: To be clear, I am not saying that regulation is bad. We need regulation in order to reign in these shitty coin scams amongst many other things. My argument is much of the “regulation” has been an attack on the industry as a whole, and not against the real scams that exist within it. We need to stop the retail investor scams, and put SENSIBLE regulation in place. This benefits everyone, retail investors and trumps billionaire buddies.