The Centralized Truth Behind Crypto





And saying something such as that will automatically get crypto enthusiasts' blood boiling! Even so, how can one believe that cryptocurrency isn't managed or controlled in one way or another?


This has been a problem that has persisted for over a decade now, and it's a question that is not going away any time soon.


Now, investors who are head over heels in love of crypto will jump up and say right away…


"That's an outright lie!"


"Cryptocurrency will be the end all financial solution people will turn to in the end."


And the question that follows that statement will be.


"Are you 100% sure crypto will be the end all financial saver to keep our monetary systems afloat in the future?"


Well, the one thing that has always remained true, is that money wasn't never designed to maintain an economy.


It's all backed by a "just say it's so, and it shall be" monetary system designed to bolster false faith.


In other words, it's a social construct pandered by our government and then it's forced fed to us folks!


And cryptocurrency also falls into this particular genre.


The Biggest Cryptocurrency Myth Is...


We start with the most said thing about crypto that many have been duped into believing.


And you already know what I'm going to say straight from the jump.


Cryptocurrency isn't decentralized!


And the reason why will be abruptly clear, after I get done dropping some hardcore truths that many tend to deny.


Yes, they are not decentralized because these coins are fixed to a distribution system.


And when you refer to anything as a distributed commodity, it means that it's a resource pushed by multiple entities.


These "entities" come in the form of exchanges situated on the blockchain.


Now, this may not seem like a big deal to an investor, although it should be a concern to some degree.


Because you have a blockchain providing a way for cryptos such as Bitcoin, Ethereum, or Litecoin to function.


Keep in mind that without these "distribution services" crypto coins would cease to function.


If you don't have exchanges such as Coinbase, Coinmama, Kraken, to name a few; then it's a rap for crypto!


So, it's impossible to have one direct source for each functioning cryptocurrency coin.


Understand that whatever crypto you have on a crypto database is documented.


So, whether it's on the blockchain, or if it's on your Trezor Device, they both hold information about your financial transactions.


Yes, so every single transaction made using crypto doesn't go unseen you see.


You can bet your bottom dollar that crypto exchanges will turn over that information to the IRS at the drop of a hat!


And what's the first thing the IRS will look for after getting their hands on your financial information?


UNREALIZED GAINS!


Except in this case, it comes in the form of cryptocurrency.


Cryptocurrency used to flush out Investors!


Now, you know this brings up the next issue many people have been having ever since they jumped on the net.


And that my friend centers around the aspects of privacy.


To which I say outright.


WHAT PRIVACY?


Because last time I checked, that went out the window years ago!


The 9/11 attacks serve as the best reminder of how our privacy rights were totally dismantled.


And that was done after the Patriot Act was passed by Congress back in late-October in 2001.


Doing so, made every living citizen in the U.S. a domestic terrorist.


Despite the fact that the average citizen doesn't plan to unleash a surprise bomb attack on their community.


And that's because NOT everybody is a cold-heartened criminal.


Although, our government feels as though we are!


So, the government uses agencies like the FBI to "flush out" individuals that are considered to be fictitious characters.


Unfortunately, this placed Americans under a gigantic microscope.


And that means whatever you do will be monitored down to the most analytical detail!


I even typed out a few things in the bulletin list below to empathize the point better...

  • Pacing back and forth in public (even though you're minding your own damn business).
  • Monitoring people talking on their cellphones and other smart devices.
  • Strip searches at the airport (even though this one falls into the 50/50 category).
  • People accessing ATMs using their card (bank, credit, or debit card) at an ATM are under surveillance!
  • And the number one is exchanging of monetary funds (at a bank or a crypto exchange).

Yeah, basically you can’t do dilly Jack squat, unless the government gives the “A-Ok” for you to do so! And that goes double for the monetary assets you have in your possession. This is why the government started demanding crypto investors to state their annual earnings.


Investors disregarded that request, and that forced the government to take drastic measures.


And that's where both the FBI and IRS stepped into the picture.


Recently, President Joe Biden, has been cultivating a plan to track down crypto investors.


Credit: The Deep Dive

The FBI took matters further, by creating a new division known as the Virtual Asset Exploitation Unit (VAEU).


Now, something such as this would imply that the IRS had a hand in this no doubt.


Because they know people are making money on these exchanges, and they know money is circulated on the blockchain day in and day out.


So, they'll gather whatever resources needed to monitor the trade of cryptocurrency.


And that's why the FBI now serves as a "tax collector" as agents are told to shake down crypto exchanges.


So, now these cryptocurrency exchanges are forced to give up the private information of their users.


If they try to push back against either the FBI or the IRS they will lose, and what's at stake are the financial earnings of crypto users.


NOT TO MENTION THEIR RIGHT TO PRIVACY!


Another dirty secret that most people aren't aware of is the products they buy using crypto.


It's well known that people are buying food, paying rent, even purchasing cars and houses using it.


And in the course of doing as such, they will leave a long trail.


It's an electronic trail that's left behind each time they purchase items using crypto.


Many will claim they can't be discovered after buying something with it.

Even so, that's not true.


And the reason why they will be flushed out by the FBI, is because of the electronic number code attached to their electronic wallets.


This was the case, when the FBI managed to get a hold of Darkside's electronic wallet information.


Darkside is a hacking collective entity that the FBI busted after figuring out their private key information that led to their eWallet.


Darkside tried to avoid "detection" by moving the stolen funds through 23 accounts to a primary account.


And yet, after all the trouble of doing so, they still got caught by law enforcement in the end.


So, what seems to be an ultimate way to avoid law enforcement and the Internal Revenue Service is a thing of the past.


That's quite concerning, one would have to admit. 


Especially if it's a cyberhacker who 's trying to get access to your crypto funds is cringe-worthy!


Can Cryptocurrency Help You Achieve Financial Freedom?


This is yet another big myth that crypto enthusiasts claim is possible.


Well, just as you read in the other sections; that's another fallacy in the making and here's why.


In the section before this one, I mentioned how one can still be discovered by law enforcement and the IRS.


It's a result of the digital information left behind from a previous transaction.


And since that's the case, that will serve as a digital fingerprint that can be used to find other transactions made by you.


It doesn't stop there you know, and it not only includes law enforcement and the IRS.


It also includes any transactions made over time, as well as any exchange or website the currency was used on the internet.


So, if the IRS really wanted to put it on you.


THEY ACTUALLY CAN!


Anything else they manage to see, will bring you a boatload of headaches.


Because if they determine that you owe whatever amount. Means that they will go after you until they get what's due to them!


And anyone who has ever been in trouble with the IRS, knows how relentless they can be!


Credit: fbi.gov


A fact that the late Al Capone discovered back in 1931. When FBI Agents came knocking at his door to book him for tax evasion.


He spent a little over 7 years in the slammer, and was released in 1939, due to his declining health.


He lived 9 years after that and died in 1947.


Now, the thing about Capone was that law enforcement had a very hard time trying to prove that he was responsible for a notorious crime.


The
Valentine's Day Massacre was the thing that placed a HUGE spotlight on Capone. 

And law enforcement could only use a tax evasion charge to take him down once and for all.


Capone was also known for all of the things he owned, he was a big spender, and the IRS knew it!


So, he basically left a long financial trail that would eventually catch up to him.


And that's what I'm talking about.


How government agents will stop at nothing until they get you behind a set of 5X9 iron-bars jail cell!


This is why financial issues with the IRS can lead to the ruin of many lives.


So, when you hear people say that cryptocurrency can help buy your freedom.


TURN AND RUN!


RUN HARD AND FAST!


No currency could set you free folks.


I don't care if someone handed you a dollar bill (using twenty as a prime example) with the printed words "FREE" printed on the back of it.



IT WILL TURN OUT TO BE A DAMN LIE IN THE END!


And the reason why is because of what took place back on December 23, 1913.


That's a special date everyone should know about by now.

If not, then let me elaborate.


It was the manifestation of the Federal Reserve System, and alongside it was the Internal Revenue Service.


The Federal Reserve itself is backed by nothing, and nope there aren't any reserves of gold held within it.


That's hearsay, just like our fiat cash currency too is pure hearsay.


The same goes for cryptocurrency, it's backed by nothing and there's an old song that states it best.


"Nothing from nothing, leaves nothing!"


The currency that can provide you a better chance at freedom will be gold first, platinum second, and silver third!


All three are intrinsic monetary forms that provide the holder REAL sustainable value!


Once you obtain either one or all three, you then have direct control over it as a holder.


With both the fiat dollar and cryptocurrency, you don't have an absolute guarantee.


Both are volatile currencies (money is less unstable than crypto).


Either one can fail an economy, and both are controlled commodities.


If you don't think so, then why in the world are you forced to still pay taxes toward the dollar?


And now you're being forced to pay taxes towards cryptocurrency, and yet, you expect to remain a FREE individual?


Like the dollar, cryptocurrency cannot buy your freedom because it's centralized currency.


But hey, I know this is going to piss people off, and you should be pissed!



Even so, it’s the same thing that big fish investors Peter Schiff, and Warren Buffett often talk about.


Because in the end, real tangible currencies will prevail in the long run.


So, let me hear your thoughts on this matter.


Alright, see you soon.


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