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Faster Payments is no longer an option for BINANCE customers in Britain amid increasing regulatory pressure.
We've just kind of consumed the China FUD that we had with mining crackdown in the communist country and we get another wave of fear poured onto crypto investors. This time we have Binance and UK on the spot which is one of the most distorted situations that have been transformed into FUD.
All over the news and on crypto twitter we see headlines of Binance ban in the UK and that couldn't be further from the truth. Yes, Binance futures and some other products that Binance was offering to UK customers are no longer allowed to Brits, but that doesn't mean they can't trade on Binance...
To be honest I wouldn't even be interested in futures and leverage trading, thus if I'd be living in the UK I wouldn't care less about the situation. The link from the first phrase of this post is dissecting the horrible situation of some payments system that is currently down for Binance.
Man, that's not the end of the world, it's just that these oligarchs along with their paid outlets want to make us believe as such. Moreover, they seem to be starting to accept crypto, but being in control of the on and off ramps for such assets is a must for them.
As long as you use a bank account that can be tracked and is somehow in the control of the government there's no problem with using crypto, or lets say buying and selling it. It's all about control and although some banks and large financial institutions seem to be more flexible towards crypto, they're actually scared of not loosing control and working hard on becoming the bridges between fiat and crypto.
"Buy more Bitcoin" is the advice of Robert Kiosaky who believes the asset will get to $1 million in five years and that we're on the cusp of a long and harsh crash. I don't know about that, and although I don't like this guy, he might be right on this one. The whole situation with cutting the cords to crypto from regular people makes a whole lot of sense in such a scenario.
Meanwhile Facebook has become a $1 trillion business in a surveillance capitalism era. Hive is still struggling to get out of its own cocoon, after quite a few years of existence... At some point the leaders of the pack might realize we definitely need marketing... Just a side note that comes from a frustration that probably has not much in common with the topic of the post.
True decentralization that can and will fight the banks and crooked law makers is of the individual and not mining pools and financial institutions. A pure example in this regard being this guy mining Bitcoin in the woods using electricity generated by a creek... It's not like we should all go out in the woods and start mining Bitcoin this way, but we've become too pussies with waiting for so many years the financial institutions to confirm the intrinsic value of Bitcoin and push the price up.
Bitcoin is not about acceptance and recognition, I have said that too many times on this blog, it's about what happens in El Salvador and near that wood creek. The best use case for crypto is to make it the financial system and not part of the current one. So what, if Faster Payments has suspended its collaboration with Binance?
It's irrelevant... What's more relevant is to build more DEXes, DeFi projects, create businesses that have blockchain foundations and and make crypto a world wide damn currency... That's what we need to work on.
"All revolutionary technologies were ridiculed during their time. Electricity, cars, trains, all of them! Look towards the future. Don't get lost in the FUD." Couldn't have thought of a better ending line than this tweet from Altcoin Daily.
Thanks for attention,
Adrian
