The inevitable chatter goes on about cryptocurrencies and speculation that somehow "they" or "the government" or "tax authorities" are going to try to step in and ban/restrict/regulate things.
A solitary Daisy
At the moment, there's lots of FUD in the air over the situation in South Korea, where mostly rumors suggest that cryptocurrency exchanges might be banned.
I'm in a bit of a strange mood these days, and I got to thinking about the whole issue of "protection" and who exactly thinks they are protecting who else from what.
Who's REALLY Doing What?
In most cases, such moves by "authorities" tend to be officially dressed up as "consumer protection."
Whenever I see the term "consumer protection," I am always rather skeptical. And I'm not just talking about cryptos here... I'm talking about anything from banking laws to pharmaceuticals to toasters. When I poke around in this stuff, it always ends up sounding like measures are being taken to protect the stupid and gullible from themselves.
A stack of rocks
Maybe I would have less of an issue with that if the legislation or action didn't typically happen at the expense of those who already know better.
It reminds me a bit of when I was in school, and the primary "benefit" of having been singled out as "gifted and talented" was NOT being given an advanced curriculum to make the most of my talents, but instead being "strongly encouraged" to be a tutor for the remedial students. In the end, I found that even more boring than being part of regular classes.
Ultimately, everything ended up operating at the lowest common denominator.
Who exactly benefits from that? Usually nobody at all.
What does this have to do with cryptos?
Well, I can't get past the suspicion that if/when the day comes... any legislation will masquerade as "protection" in the form of protecting greedy idiots from using their disability benefits to "gamble" in the crypto markets.
We will be told a "story" that it's not "safe" to be involved with digital money, because it's not "backed" by anything, and you certainly "can't trust" the people creating these currencies.
Of course, I am sure there will be some underlying intent designed to try to make cryptos as "toothless" as possible. I'm also sure it will be effectively near impossible to functionally implement very many controls, just like you can't really prevent people from choosing to lose their lunch money playing around with ridiculously volatile penny stocks.
Lavender in bloom
Controlling cryptos is a bit like trying to walk around in a room where the floor is covered with ball-bearings... as soon as you push some out of the way, others will roll in to take their place.
Now don't get me wrong-- I'm not suggesting life should just be a giant free-for-all. Most humans just aren't smart enough to handle that level of personal accountability.
Things like "seat belts" and "red lights" are definitely a pretty good thing. And taking some kind of measures to keep restaurants from having too many rats and roaches running around their kitchens is probably a good idea, too.
But there's a big difference between warning someone that something could be hazardous, and forcibly trying to prevent then from being stupid. And maybe the whole "survival of the fittest" might do well to include allowing idiots who think they can balance a skateboard on the railing at the edge of the Grand Canyon to actually fall and break their necks, thereby strengthening the gene pool.
OK... I can see this derailing already. So before anyone gets their knickers in a twist, the above was a mixture of Satire and Sarcasm. Google them, if you're not sure what they mean!
Well, I'd better end this. As I wrote a couple of days ago, my creativity is in a strange place at the moment.
Pay no mind to the man behind the curtain!
What do YOU Think? Does "Consumer Protection" actually protect anyone, or is it just a thinly veiled control mechanism? Do most laws only steer us towards the LOWEST common denominator? What do you think is really going on in South Korea? Leave a comment-- share your experiences-- be part of the conversation!
created by @zord189(As usual, all text and images by the author, unless otherwise credited. This is original content, created expressly for Steemit)
Created at 180111 22:18 PST
Ultimately, everything ended up operating at the lowest common denominator
Funny as I was just talking about this today. It is EXTRENELY mentally tedious to be forced to operate at that level just because others can't or are simply unable to shape up. I think that obviously some things must be regulated as you've pointed out such as procedures in place to regulate restaurants, etc etc. Otherwise we'd be living in complete chaos. However there are also a myriad of things that are over regulated. Like hmm, taxation! Is some tax beneficial for the whole? Sure. Is 30% of my paycheck? No. Could there be a different way other than tax to "benefit the whole"? Yes of course. I think if "They" stopped practically raping most people of their hard earned money then "they" might be surprised how generous some people are with helping the actual disabled, underprivileged, etc. But we probably won't ever find out will we?
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We probably won't... but mostly because the majority of the population lacks the power of critical thinking and civic fortitude that goes with being able to make wise decisions and be fully accountable for oneself.
In the meantime, we waste valuable resources by setting the smart ones to teach the idiots... rather than letting the smart ones be rocket scientists, and hiring someone who's expert at education to teach the less fortunate.
I happen to know that works because I went to a boarding school in the UK that "streamed" people like that, and Dr. D'Eath's "C-5's" (the lowest on the pole) repeatedly turned out kids with excellent vocational skills who went on to do very well for themselves.
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I'm from the government...I'm here to HELP you
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Trust you you not, I do. Noooo....
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Protection has never been sincere especially in these cases
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In general, it almost always adds up to someone wanting to control the situation.
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True, never changes
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Great read. I agree there’s a need for balance. Seat belts being an example of an excellent consumer protection. But by and large it seems they are used as a measure of control and manipulation of the masses.
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Much of the time you can also look at these regulations and do the old "follow the money" routine-- or "follow the power," as the case might be.
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Exactly true.
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Seat belts being an example of a government undermining free thinking, and imposing control.
They will start banning smoking soon, in adult only areas like bars and nightclubs..........ohhh...
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The weakest chain determines a lot. Knowledge level, speed, you name it. The government is then tempted to take over the care by setting all kinds of rules. In itself this does not have to be a problem, as long as they do not exaggerate.
The extent to which this happens will certainly also have to do with the agenda and interest of the government. And at cryptocurrencies this is the case, because the government has a lot of interest in the banking system.
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Wah sangat menarik .....
Saya menantikan yang selanjutnya
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There are so many examples that will prove that the governments are not here to serve you or to protect you and act for our benefit. They are like these big semi-intelligent entities that act to their own agenda and that is to implement their power to every aspect of human living and tend to regulate all your possible moves, and it is increasing daily. Their final goal is to overregulate your every step so that whatever you do you have this fear of punishment while you can't ever possibly know all the rules and regulations since they are changing all the time, and also they have a few general ones that enable them to even arrest you without a proper need for explanation or going thru unnecessary court formalities. That way you live your life in fear and anxiety, for it is not your natural state of being. You are born to be free. They are clever enough to push all their moves under the widely accepted consumer protection, national interest, not to mention money laundering and terrorism phrases. Now that we see a steep rise in cryptocurrency adoption and by definition, it is not under their control, we will be withnessing more and more action on their part. But we need to remember, that their power comes from us little people, they have the power as long as the majority allows it and quietly obeys their rules.
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Protect the protection.
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Great post :) very witty.
I think the Government (Politicians and Lawmakers) telling/forcing people how to invest/spend their money is a very paternalistic view. If I want to blow my money all in the air there are endless ways to do that. I agree we need some laws to operate as a society and (murder, rape, speed limit etc) stop us becoming victims of other people's stupidity. But this controlling how I invest my money is a bit of a stretch!
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I think they are, tbh.
And if they are not...? Oh well. 😂😂
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I always find it interesting that almost everyone understands the danger of monopoly. If you talk to a "Progressive", they understand thoroughly that, if allowed, monopoly results in the lowest quality at the highest price point, and that monopoly allows individuals to essentially hijack society for their own benefit.
What I have found they do not understand at all, and what amounts to a logic hole or logic flaw in their world view, is that monopoly is bad because human nature cannot handle it responsibly, that monopoly is bad because it allows the worst aspects of human nature to flourish unchecked. I say that they don't understand this because they persist in believing that monopoly is solely a business phenomenon. They insist on keeping their world view zoomed in rather than being willing to zoom out and see the big picture, which is that human nature is unchangeable, that human nature is the technology around which the system must be built, and, most importantly, that human nature does not change between the public and private sector. Both are full of humans who function exactly the same in either sphere. They refuse to see this, and instead want to hide in the soft, fuzzy, childish idea that people in business are bad and people in regulatory agencies and government are good.
Once you understand that monopoly is the problem, and that it is a problem because of the reality of human nature, then it becomes obvious that attempting to fix a monopoly problem by instituting a different monopoly isn't a solution at all. It is at best a can kicking exercise, which will only be beneficial until the second monopoly becomes parasitic.
I have never understood why people believe that something can be so "important" that it must be protected by monopoly -- because that tells me that, deep down, they really have no fundamental understanding of how monopoly works and why it is bad. They are at best surface thinkers, because if they understood how competition works, how competition produces the highest quality at the lowest price point, then they would understand that the best way to "protect" something is to force it to confront competition. And thus that the best way to protect the quality of money is to reduce barrier to entry and force it to compete.
Unfortunately, Progressives tend to be a toxic combination of shallow thinkers and arrogant do gooders, and who therefore don't listen to any reason while they force society at sword point to tilt at the windmills they are convinced are attacking society.
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Sooner or later regulators, through the banks, will insist on "protecting" us. You must realize that we can't be trusted because we will certainly do dangerous, hurtful and criminal things with crypto.
Joking aside, I have been listening to several lectures by Andrews Antonopolous wherein he touches on this and other issues.
This one uses simple logic to explain what money is and then in others he covers your concerns.
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You post reminds me of a story. Not long after my son graduated from high school, he landed job as a support agent in call centre for General electric. He took all sorts of calls and tried to help people with their guarantee problems. Basically a trouble shooter. Working his first night shift he had a variety of daft calls, everything from the ice maker on a new fridge didn't work and the owner was having a party. This is in January. -20F outside. My son said it would take a week to get someone out. No good enough came the replay. So he suggested that the person could always put trays of ice outside to freeze for the party. Oh, good idea. Second call came from Texas, where someone in their infinite wisdom, tried to hatch rattle snake eggs in the microwave. Mama snake was angry and eggs had exploded. Perhaps for this one, the guy should call animal control? Third call of the night ws from someone in the mid west. They wanted to know how to clean a new microwave. Well that depends on what was spilled. Kids had given a bath to a guinea pig and tried to dry it in the microwave! Perhaps the man of the house needs to purchase a new one? Last call of the night was from an elderly who had tried to heat up a can of soup in the microwave. She had put the can, unopened into the microwave. Two minutes later there was an explosion and the microwave was spitting sparks and smoke. My son said to her, "I am sorry ma'm, but the guarantee does not cover randon acts of stupidity!"
There is reason we have these government offices for "protection". Some person, through a random act of stupidity thought they were a brilliant idea! If we had more common sense we wouldn't need half the laws that are to protect us from our own stupidity.
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Very good post friend I liked the analysis, it is quite complete. I already follow you and I invite you to go through my blog maybe something you like and you can support me with your vote.
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