Governments Spreading The Cryptocurrency Message

It seems like news comes in waves. This is common within the cycle yet it is good for us to latch on when things are going in our favor.

Over the last couple days, it appears we got some positive cryptocurrency coverage out of Florida. There were a couple instances by two of the state's top political forces. Both were complimentary towards cryptocurrency and make remarks about pushing it forward.

The first was from the Governor, Ron DeSantis who discussed his new initiatives to move the State towards cryptocurrency. Part of the plan is to get the state accepting the payment of fees in crypto.

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Mayor Suarez Is At It Again

The other comes from one of cryptocurrency's biggest advocates in the public arena: Mayor Francis Suarez. To say this guy is "all in" is an understatement. It bodes well going forward since he was re-elected in November and has another term in office. With the publicity he brought in the last year, imagine what he can accomplish in the next four.

Suarez is intent on making Miami one of the major "crypto-hubs" in the United States. He is welcoming to technology companies that want to settle in South Florida. Throughout 2021, he met with many crypto-industry leaders to get their view on how the City can best proceed.

The City was the first one to get its own token through Citycoins which is helping the treasury by generating revenue. Suarez even proposed giving each resident some Bitcoin from the project.

We also saw him become one of the first public officials to accept part of his pay in Bitcoin. Now, he is adding his retirement to the mix.

Mayor of Miami Francis Suarez has announced plans to take a part of his 401(k) payout in Bitcoin with the help of a third-party payment processor Strike.

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It appears this guy spends his days looking for ways to implement cryptocurrency. This is something we are very fortunate about.

Government Approval Not Required

The key to this is to remember that cryptocurrency is not about receiving government approval. Bitcoin was designed to operate outside the reach of governments or the financial sector. That was the original concept when rolled out after the Great Financial Crisis.

Thus, regardless of what governments and associated politicians or bureaucrats do, cryptocurrency is going to excel. We have an entire industry that is transitioning. It started with the "renegade mentality" followed by the interest of Wall Street and Venture Capital money. We are likely to see a few years of this as those players maneuver in an attempt to try and control the industry.

After that, we will see the migration away from the centralization that VCs bring. It appears there is a genuine conflict between VC funded operations and Web 3.0. This is going to come to a head at some point. For now, the money rolling in will help to fund development. Hopefully it provides people with ideas of what is possible and it further extends outside the bounds of what the establishment is trying to provide.

Publicity

The biggest thing that politicians bring to the table is the podium. They are in the public eye and garner a lot of attention. Mayors, Governors, and others tend to have a host of reporters following them around. At the same time, they can have rather large followings on social media.

What this means is that anything they discuss can spread wide. Sadly, for much of cryptocurrency's existence, when politicians mentioned it, we saw it framed negatively. Today, that is still the overwhelming majority of the coverage.

Nevertheless, when we have someone like Mayor Suarez who is ardently touting the benefits of cryptocurrency and how important he views it to be, that carries weight. For whatever reason, people give politicians a lot of credibility. Couple that with the spotlight have and we can see how there is some influence there.

This is probably more important than the use cases that are developed by these government entities. While what they set down can be helpful, on the overall scale of things, it is minor. Honestly, the number of transactions that the City of Miami will generate in Bitcoin is miniscule, especially when we view as total value transferred.

Each time someone like Mayor Suarez mentions cryptocurrency, another group of people have it reinforced to them. No longer is it something that is unheard of in the developed world. The FUD espoused by the mainstream media might have programmed people that it is to be avoided. However, we cannot deny the fact people are aware of it by now.

Organic Growth

The challenge for anyone against cryptocurrency is the growth rate is organic. It is happening in many different areas which makes it difficult to follow. Nevertheless, as time passes, people are going to see it showing up in different parts of their lives.

We have a subtlety to this. It might not seem that way since we tend to spend at least a portion of our lives focused upon what is taking place. That said, if we step back, we see that, to the average person, it is sneaking up on them.

Development is widening the playing field. We are seeing the concept of Decentralized Finance (DeFi) moving in directions outsiders cannot fathom. There will come a time, in the near future, when finance is not a separate sector or industry. Instead, it will be interwoven through everything. That is the power of tokenization.

People are already engaged in the digital world. There are over 5 billion users online now. These people spend varying amounts of time in this realm. This makes them susceptible to what is coming forth. Ultimately, cryptocurrency will not be a choice like social media. It will simply be something that people utilize.

Ultimately, governments and associated personnel spreading the message with cryptocurrency is of benefit. However, this only aids the push forward, it is not required. For every Mayor Francis Suarez, there is a Senator Elizabeth Warren who will bash crypto at every turn.

Either way, we can let them fight it out in the court of public opinion. Our role is simply to keep building applications that people want to use. For this to be successful, infrastructure that will connect the different aspects of what is already created is required. As that goes into place, we will see the exponential power of different components coming together.


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The challenge for anyone against cryptocurrency is the growth rate is organic. It is happening in many different areas which makes it difficult to follow. Nevertheless, as time passes, people are going to see it showing up in different parts of their lives.

This really speaks about my country because it is not allowed here and anyone found investing in crypto is known as a criminal trying to make to keep money in an illegal way.

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The truth is that, it is not law tho.

Even before they said it was illegal to trade crypto, they were blocking accounts.

The funny thing is some if the men in the forces have crypto wallets

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This is good news.
Everytime I think of the potential of crypto currency, all I want to do is keep on gathering as much as I can.

It is obvious that adoption is coming to crypto at a rate that might be difficult to catch up with if one delays.

I saw the news about Miami on coin telegraph and it was relieving even in this bearish period.

Really great post.. I feel Elizabeth Warren will join the crew soon.

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Interesting,

As much as I want the governments hands off of my crypto, I do like the thought of walking in a grocery store and using bitcoin to pay for my food.

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I would love to use crypto to buy groceries.

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Suarez definitely sees crypto pass its hype factor. He's my type of politician, Gandhi used to be the role model in that regard a few years ago. Only a fool would not part take crypto right now.

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There will come a time, in the near future, when finance is not a separate sector or industry. Instead, it will be interwoven through everything. That is the power of tokenization.

That really hit hard and I totally agree. The blockchain tech has made it possible to literally access and transfer value anywhere in a matter of seconds, in a censorship-resistant manner and without any restrictions.

I can't even begin to imagine what we will build around this tech in the future.

!LUV

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Yes and then incorporate it into everything that is built.

It is like not picturing something being online. Today, you can find most things online. A couple decades back, not all information was like that.

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Indian government is also bringing crypto bill. As far as I heard that they may regulate cryptocurrency but not as a legal tender. It will be treated as crypto asset. There is another negative rumor that the government will not allow users to keep their crypto in a private wallet. They will have to declare and transfer all the crypto to Indian crypto exchange. However, these are speculations. The truth will come when the bill will be introduced in parliament.

Is it really possible to operate Bitcoin outside the reach of governments?

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Bitcoin is not in the reach of any one government. It is global and hence outside their hands. Bitcoin operates regardless of what the Indian government or any other one says. It cannot stop anyone from interacting with it, at least according to the tech.

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Crypto is definitely spreading and as certain models show good results, we should see more enter. It will allow those old and mainstream media people to see the benefits. However I still think crypto will be suppressed to an extent to prop up the current system.

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They are trying to retain power. It is no different than anything else when confronted with new technology. This makes institutions obsolete.

Here we are looking at an entire financial industry that is looking at being made redundant.

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They can't ignore cryprocurrency for long. They're already salivating the huge wealth growth here but for ego sake. Today, I read a news thread that a sitting Minister in Nigeria calling for government's regulation of crypto rather than banning so the nation can tap from the innovation that abounds in the cryptoverse.

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Some politicians are going to realize there is tremendous opportunity. Most will try to hold on to power as they always have.

Ultimately, my bet is that crypto will win out.

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Most will try to hold on to power as they always have.

Very true. All their eyes is how they may have their cut through fees and taxes. This time, it won't be business as usual. The sophistication of the tech would be a huge case to deal with for most of them.

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Reading this kind of news, my sentiment is divided. I don't know if I will be happy or sad. I don't like politicians who interfere in people's creative initiatives, but I like to see politicians who help provide the kind of environment for people’s initiative to thrive. This latter kind of political animal is very rare in our time. I remember an article published on Freeman some time in 2012 describing some of the attributes of this kind of politician. Paraphrasing its content, this is the kind of politician lovers of freedom long to see: a politician whose ultimate loyalty is not to the party, but to the country; a politician who will stand on the basis of principle not on what is popular; a politician who is free from double talk just to gain a popular support; a politician who does not degrade, but elevates public discussion; a politician that does not instigate hostility among social classes causing division among the people; and finally, a politician who measures his success in office not by the number of laws he made, but by the number of laws he repealed or vetoed.

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The Crypto movement reminds me of Y2K back in 1999. LAs Vegas at the time was the fastest growing city in the country. I was lucky to be able to take 2 weeks vacation there in 1999.
Las Vegas wanted to be the first Y2K compliant city in the country. Talking IT with people has always been a favorite subject and at the time I was pretty friendly and outgoing.
The Circus Circus Hotel and Casino was my favorite place, their breakfast buffet was amazing and only $4.99. I would talk to the people that worked there and they introduced me to the GM who gave me a tour. Not only were they ready but they had upgraded all of their servers and terminals.
Buckle up the next three years are going to be crazy :-)

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