When I began my crypto journey I had a rigid mind about cryptocurrencies even when I had no idea what crypto was all about. Today I'd say I'm a crypto realist and when I'm done you'd give a suiting name that best describes one identity.
It's always interesting to continue a journey with a better perspective because there's a depth to everything, as there's the surface and what beneath the surface. There's simply no explanation aside what's being poured out now and I'd say since all the regulations and taxation (which I find offensive in the case of high percentage charges) on crypto.
Do you actually think that it's magical, something you'd just so do abracadabra and there you have what you want, anyway I walked that part and the bearish market is playing its role.
Anyway, back to it.
Initially it was all rosy with crypto as there wasn't regulations or tax imposed on users of crypto until it all changed. At first, I strongly criticised the new development as it stands against what we believe and hold crypto to be all about which is freedom and certainly this would lead to the magical part which involves making lots of money. From afar, it seem all rosy as when the market switches from the fall to a rise. The bear is overridden by the bulls.
Truth is that for every advantage, there's always disadvantages around and it is glaring. Crypto being imposed with taxes is one thing that we had to indulge in with regards to the law. Being truthful here, there's nothing wrong with being taxed on using crypto but what's wrong is the fact that most countries raise their taxing so high that it affects the person.
Nothing comes out of thin air. As much as there's huge margin of the gains during the bull market especially after hodling all the while. Crypto takes all from a person because the work never stops, keeping your day job or having another source of income to be better insulates from the bear market. There's a wide spread believe that crypto is filled with laughter and gains but it's actually otherwise after remaining on the crypto bandwagon even without any other source of income. Truth is that it is mostly exhausting but worth it every bit of the way.
I wish it would only remain as easy as it was without regulations and taxes but you simply just can't have it as you think it ought to be. In as much as crypto would be identified as a currency, it would have to pass through the test just as it ought to. It may be said to be bland or not making sense but a lot of things don't make sense at the begining as they begin to make more sense much later. Crypto has always been viewed with spite because it's complex and its complexity makes the law come rigorous on it but at the end whaays supreme would surely stand tall.
The good part about the regulations that crypto has is the involvement of law agency tracking transactions (malicious transactions). Crypto is swift, safe and reliable but the bad actors are very much on the rise and are getting the best out of it. It remains glaring that rugpull and exploits of chains doesn't change one bit and regulations on crypto makes it legit in a region as blockchains are held accountable for rugpulls that are intentional.
We only hope to get a better deal in the future and soar higher than today.
Thanks for visiting my blog, till next time.
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