Being on the right side of history: geopolitics, utility, civility, morality — Amp

AmpAmp
$0.01162
‑2.26%
self.AMPToken2m ago
If there is anything I dislike more than cognitive dissonance, it’s outright hypocrisy, especially hypocrisy that results from ignorance. When Putin’s Russia invaded Ukraine, many in the crypto community were quick to point out the validity of crypto’s utilitarian prowess. Nevermind that the amount, something well under $100m, was dwarfed by the billions in other [legacy] assets that were sent to the Ukrainian cause. Nevermind that the Russian perpetrators, including Putin, leveraged and utilized crypto’s same utilitarian qualities to [circumvent sanctions](https://www.thestreet.com/investing/cryptocurrency/heres-how-putin-russia-could-use-bitcoin-crypto-to-bypass-sanctions) and alleviate liquidity crises — to the tune of billions (again a figure dwarfing the aforementioned crypto donations sent to Ukraine). Nevermind that because of all of the above, governments around the world including of course China but now the US are understanding crypto, quite objectively, to be a real issue of geopolitical concern. All this is net negative for bitcoin in particular, despite what some diehard maxis will try to incoherently tell you. Bitcoin, as a “truly decentralized” store of value, therefore becomes nothing more than a novelty, a collectible — dangerously powerful in certain circumstances, yes, but still overwhelmingly trivial in its overall applicability — that can and may very well likely end up being “controlled” by the US government (how hard would it be for a classified agency to accumulate enough to essentially warrant bitcoin‘s “decentralized” qualities not only moot but dangerously deceptive; how hard would it be to fathom that bitcoin was, in fact, created by an operative of said classified agency?). No, the future is not bitcoin. But Ethereum (somewhat ironically created by a Russian born bitcoinist), on the other hand, with its obsession with capitalistic utility, friendly marketing, and pragmatic semi-centralized nature, becomes something more promising. Likewise, Amp emerges as something singularly prepared to meet and overcome the challenges of an inevitable strict regulatory environment. Those who have knowledgeably invested in Amp have done so not as libertarians bordering on anarchism but law abiding believers in specifically American innovation. Anyone that believes in Amp but also some misguided notion of an inevitable overthrowing of the centralized powers that be has not actually done their homework on Amp. Amp is a winner because its leadership has chosen to be on the right side of history. The side of law and order. The side of bureaucratic rules and traditional regulation (albeit, with reform and innovation in mind). Why else would they operate out of New York, thoroughly acquire all applicable local if not federal licenses, file with the SEC, and even apply for patents that historically have always said more about something of the applicant than the technology in question itself. Like I said, cognitive dissonance. While governments begin to crack down on nebulous “stores of value” and outright Ponzi schemes, rest assured Amp will rise with its fully compliant, pure utility (there may not always be a demand for virtual goods in the metaverse [or obscure L2 tokens building on competing L1 chains], but you better believe people will always need to purchase real goods in the real world ... to literally live), morally upstanding (there is an obviously huge difference between outmoding legacy corporations vs wishing for the destruction of a democratic sovereign government) business model. I am an outsize investor in Amp, not merely because of the logic of its utility, but, perhaps more importantly, because of the rightness of its morality. I hope that, if you are currently invested in Amp or perhaps choose to invest in the future, the same can be said for you too.