So the US Federal Government failed to pass a budget even in an emergency session last night, and there is a short term government shut down. This means that “non-essential services” are down and paychecks aren’t going out.
What does this mean for crypto? Well, the king of all anonymity coins, Monero, is up 25% as people look to the REAL free market for solace in the wake of yet another failure to lead from the central planners. Lots of other coins are GREEEEEEN today too!
As I’ve said here before, Bitcoin (and therefore, the rest of the cryptosphere), was created by anarchists to replace the failure of the US federal government to lead, and the market cycle of crypto has shown time and again that when the government has a major snafu or drops a (figurative) bomb on something that would have been simple in a free economy, the biggest boost is seen in the REAL FREE MARKET: Cryptocurrency!
In places like Venezuela and Zimbabwe, cryptocurrency is used to buy toilet paper, milk and flour in the black market because their governments have completely destroyed their nations. Do you know any great stories where cryptocurrency has been a literal life-saver? Have you ever sent relief funds with crypto? Are you holding Monero or another coin to hedge against a rocky future?
