The rapprochement between the banking sector and crypto companies poses a challenge to the notion of quarterless war to be waged between these antagonistic forces. According to many, Bitcoin is a rebellion against the evil empire (banks and governments). There are people in the crypto community who think they are Luke Skywalker, and when they see Jamie Dimon, it’s like seeing the Emperor in person. Yes, Jamie Damon, CEO of JP Morgan Chase, with his devilish laugh, wrinkled face and lightning that comes from his hands. There are more intense Bitcoiners than a Herbalife provider. So if you find Coinbase and Gemini from a thousand love relationships with JP Morgan and the authorities, it’s handy to see Princess Leia and Han Solo having tea on the Death Star. Has our revolution been betrayed?
It is very common to see it in revolutions. The ordinary militant does everything for the cause. Live her teachings on the letter. And it is the living picture of his ideals. It is radicalized. He faces half the world for his cause. He is arguing with his friends, family and neighbors. Give your life for the revolution. And it doesn’t tolerate claudication. In fact, he’s more stubborn than a mule and takes an all-or-nothing stance. In the eyes of others, this fanaticism seems stupid. However, for those infected with this mosquito, their illness is a blessing. The world has become clear and consistent. All ambiguities have disappeared and there is no longer any doubt. ANDThere are the bad on the one hand and the good on the other. And he’s one of the heroes of history. Thanks to him and his dedication, humanity will reach a golden age of peace and prosperity. Stop being a small and lost individual to become a giant of history.
Read on: IMF director Christine Lagarde says international regulation of cryptocurrencies is “inevitable” and necessary
The fanatical mosquito has always been found in some areas of the crypto community. Of course it doesn’t say that. Within the crypto community, this phenomenon is approached as if it were some kind of enlightenment. Something with a deep understanding of things. In other words, no one can fool these militants. You are very familiar with the mechanisms by which oppressors undermine our precious personal freedom. In other words, Neo took the red pill, left the matrix, and started to fight the machines.
Of course, it’s easy to be radical when the community is small or you don’t have much power. In other words, you can be a radical in the living room of our house. This is because in the living room of our house everything is theory and we can always be right. We can be radical on Twitter. From there we can start our epic crusade. We can fight even the most powerful people in the world and feel like David facing Goliath.
Everything changes when we leave the living room of our houses and start building something. When we start building something in the real world, we realize that not everything is so final. The real world is not like the imaginary. In reality, decisions have to be made and every decision implies costs, a sacrifice, a concession. Contradictions, paradoxes and inconsistencies are commonplace. In theory, things are black or white. In practice, however, the nuances are infinite. And in most cases we have no choice but to opt for the less ugly gray.
Read on: JPMorgan started working with the cryptocurrency exchanges Coinbase and Gemini
JP Morgan begins a banking relationship with the Coinbase and Gemini stock exchanges. This is a big step as large banks have always been reluctant to work with cryptocurrency exchanges on fraud and money laundering. This new friendship between the U.S. main bank and two of the major cryptocurrency exchanges undoubtedly opens the door to a better relationship between the banking sector in general and crypto companies. In my opinion, this message is a huge step forward. In terms of credibility, we have made a titanium leap.
This was achieved because Coinbase and Gemini are heavily regulated. Both exchanges underwent a rigorous review process. Both Gemini and Coinbase have received certification from various organizations and have been audited by recognized accounting firms. Both houses met the requirements for operating under the NYDFS Bitlicense structure and are licensed money transmitters in several states. I mean, they’re up to date with Uncle Sam, regulators, and banks. They follow all the rules.
Of course, this is not very popular in some areas of the crypto community. Gemini’s advertising campaign “Cryptocurrencies need rules” did not perform well among the skywalkers in the crypto world. This campaign has been criticized many times. Of course, not every criticism is invalid. Nor can we accept everything that comes with our eyes closed and without questioning anything. We cannot lose our voice on the road to regulation. It is important to ensure proper regulation and to avoid excesses. However, many of these anti-regulatory criticisms are raised by proponents of the anarcho-liberal utopia. And many of them defend an unworkable dogma. And they do it because they can. After all, they are in your living room.
Read on: JPMorgan Chase will launch “JPM Coin” and will use cryptocurrencies to speed up settlement
Coinbase and Gemini are in a completely different position. They are companies with offices, employees, customers and dreams of expansion. You are part of an emerging industry. They did not choose the shadows of a secret black market. You operate in the legitimate world. You are looking for institutional customers. You want to be in good times with Uncle Sam. And they want to bring Bitcoin to the masses in a legal and established way. You want to be Steve Jobs, not Che Guevara. And for that they have to mature and play like everyone else according to the rules of the game.
I think the bitcoin market is maturing bit by bit and that’s very good news. S.It is ignored that the future of Bitcoin is immense. It is no longer a small experiment. It is becoming an increasingly consolidated world market. Of course, this process will not be easy for some to digest.
In the same way that it occurs when religions become big and official, reactionary forces emerge that feel betrayed by their leaders and nostalgically recall the power of the ideals of the early days. Bitcoin is gaining place in the world. Bitcoin is successful. But there is a group that will not see that. A group will see that the original sentence has been introduced and distorted. They think it was better before. What is really missing is the security and warmth that comes from being a member of a small tribe. And yes, Bitcoin is changing from a small strain to something much bigger, richer, and more diverse.