Schiff Out Of Luck
July 4th, 2022

Notorious crypto-hater Peter Schiff had his bank shut down by Puerto Rico regulators recently.  This led to Crypto Twitter having a unified laugh at the irony that Schiff’s Bitcoin prediction actually came true for his trusted traditional (centralized) financial system.  Puerto Rican regulators froze his accounts for not maintaining the net minimum capital requirements.  

Everything that has happened here as reignited the premier reason for having a decentralized, autonomous system is to avoid these kinds of things from happening.  Centralized powers tend to have too much power, and will exercise it for the entity's gains, not the investors.  No gloating here, however.  We have all lost money in all markets, not just crypto.  All we can do is learn, strategize and move forward.

Written by: nikethereum.eth / Medium

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