The illusory truth effect of the need for "crypto regulations" over the years and why it's pathetic

I've watched people go from "fuck the government, crypto is all about self-sovereignty, no government regulations needed to" regulations ain't that bad, we need it for stability."

The word stability has been closely used with the "governments" in numerous discussions that people have somehow come to the conclusion that the system actually works as stated.

Well, this is the entire concept of the illusory truth effects and it is spreading like wildfire across the ecosystem of late.

For those who don't understand what this means, here's a sum up:

The illusory truth effect refers to the human tendency to believe a claim or a piece of information to be true after being exposed to it multiple times. In other words, if we hear or read something repeatedly, we are more likely to believe it—even if it runs counter to our prior knowledge. - Investopedia

This is something that is very common amongst investors and traders, but when singly talking about crypto investments, the abbreviation "FOMO" is more often applied as these actions are usually triggered by the fear of missing out.

However, a change of mind on what one views as truth is something quite broad and even I have experienced it a couple of times but not enough to take a stance in support of crypto regulations, especially when one already exists.

What the government mean by "regulating crypto" vs what the people think

Majority of the time, people don't stop to try to see things from the views of others, in this case - the government, if they did, they would pretty much see how screwed up the end of this thread they are hanging by is.

Regulating crypto isn't about user protection, if you think the government cares about you losing money, please tell me why the fuck gambling is legal?

Fine, sports betting can be cool because anyone can predict Barcelona to defeat Villarreal right?

Cool, I accept, but tell me, why the hell are virtuales legal? Does nobody know that these games are highly engineered to make the company more money and only distribute pennies?

It's so crazy that people would bet on outsmarting a computer, tell me how the fact that betting/gambling is regulated makes it any better for the public. Do the majority win?

Of course not, but the companies win and we all know what that means for the institutions that regulate them.

Regulation is all about having an oversight and control over value flow, it's not about who loses but who wins, currently, anyone can win with crypto, but with regulation, the government wins, that's just what this is all about!

The fooled people tend to think that regulation is what will make crypto less volatile, matter of fact, crypto isn't volatile, humans are just incredibly volatile with their trade decisions and others are simply trying to rob the next fellow by placing the better trade bet.

Regulations will do nothing more than impose aggressive tax on the industry and this could highly affect the productivity of the ecosystem.

The need to combat the illusory truth effect

This is why we write, tweet and share like-views, people need to be constantly reminded of what bitcoin was designed for, all these partnerships amongst tech giants and interest from large asset managers don't mean no glorified shit if the initial battle it was designed to fight is lost.

The Securities and Exchange Commission(SEC) under the leadership of Gary Gensler has rekt a lot of crypto investors, I mean, look at what happened with LBRY, a total screw up and people somehow believe this is a good thing.

Bad representation of the cryptocurrency industry needs to be consistently combated least people are misled because the reality is that many personalities and companies out there currently are affect profits and gains, what we call decentralization and whatever else we nerds piloting our "no intrinsic value" assets think of means no half shit to them.

Crypto is frankly already regulated!

This is something I have previously talked about and I'll say it again, blockchain governance(consensus mechanisms) is crypto's own regulatory body, if any fat ass governmental body is so money thirsty and wishes to tap into this value flow then it should do the needful.

Is it bitcoin? Buy some freaking miners. Ether? Join the freaking PoS cult.

Or is it Hive? Make Binance hastily seek liquidity for trades as you wipe off the tiny supply currently in circulation.

There are simply no other needed measures to regulate crypto, it's a leave to materialize as it is or die trying to regulate what exists outside the walls of regulations.