Banning TikTok is Like Banning Crypto: The US Government is Again Shooting Itself in The Foot

Just one more sign of a declining empire

The US government has been increasingly adopting protectionism for its economy, innovation, and technological development.

They’ve been trying to limit crypto for years, and imposing tariffs on EV battery imports from China that Elon Musk had to hoard some a while ago. There’s also a talk about banning Chinese EV cars from entering the country. So much for a nation that prides itself on being a free-market capitalist.

However, nothing more controversial and generates a lot of outcry than the congress' recent move: Banning TikTok.

If crypto frees people from the grip of Traditional Government Fiat System, Tiktok frees people from government propaganda

The US has always wanted to ban TikTok, citing national security threats. The Chinese would interfere with elections, harvesting users' data, and or whatever else they say as a cover of “protecting government control and narratives.” They have always been afraid that TikTok would be an alt-news platform where their propaganda got debunked in front of millions of users.

Alas, before they got to ban it, Gaza happened, and straight out of their worst nightmare, their fear manifested into something real. Young people almost immediately stand with Palestine, against the propaganda of mass media. Even those who didn’t take a stand gradually got informed as people were educating each other on TikTok.

Their traditional news platform has become irrelevant. The only time a Gen Z would watch CNN news is when some dude made a reaction video toward it on TikTok, along with some debunking and analysis.

I think the pro-Palestine movement was the tipping point for the elites. It’s time to ban TikTok, now, for real. Congress suddenly became a productive bunch, getting this bill prepared and passed in a matter of days.

Gaza was the first time public dissent actually materialized into something. For one, Joe Biden not only got a worse poll result against Trump but there is a growing trend of uncommitted voters, further pressuring his potential for re-election.

But Gaza is just the beginning, recently I also learned about the Kellogg boycott, which has nothing to do with Palestine.

TikTok has been the starting point for various grassroots movements in the past few years. Anything people are mad about online then moves to offline movements (Rallies, boycotts.) It brings unity and understanding for issues and discourses the elites want to keep hidden and keep the public divided.

Looking at these acts of disobedience, it’s kinda understandable how the upper echelon of America fears Tiktok. I don’t know if the ban will work, as it will only increase the discourse around TikTok and the real reasons why it’s so threatening to the elites.

“Information is antifragile; it feeds more on attempts to harm it than it does on efforts to promote it.” Antifragile: Things That Gain From Disorder Nassim Nicholas Taleb

I suspect the US wants to rush the bill in time for the election. What the bipartisan is scared of is the potential success of independent candidates. Recently, one won by a landslide in a UK city. The US doesn’t want this trend to be imported across the Atlantic or else it’s the end of the status quo: The two-party system.

Why not just ban TVs

I remember when crypto was being accused of money laundering. We would point out how the biggest tool for criminal activity is nothing else but the good old US dollars.

We could use the same argument with Tiktoks vs TVs. If you see it, the most murderous war-mongering generation, the boomers, grew up with TV. Nope, not millennials or Gen Z with their multi-national, multi-ethnic, multi-perspective circles and their internet-connected TikTok-centric upbringing.

It’s the boomers and Gen X, who grew up with continuous misinformation being fed into their brains on a daily basis. It results in a dangerous and narrow worldview that causes all conflicts in the world. Even now, mainstream media is still feeding the same disinfo and it still works wonders on boomers. When the youth march into the street as the Gaza invasion begins, an elderly literally killed his 6-year-old neighbor out of something the Fox News spews.

It’s the TV, and other forms of traditional mainstream media, that are the threat to humanity. Mainstream media made Journalism a joke as it often sacrifices the ethos it is supposed to uphold for the sake of ads and investors.

Disinformation happens on social media too, but since it allows two-way interaction (comments, reaction videos), lies are easily debunked. In a way, it also trains users to deal with disinfo smartly over time — this is why you can’t bullshit gen z easily. Social media act as a free market for information. The winner is whoever carries the truth. News is decentralized, often it’s coming straight from the source. You can’t beat this perspective.

The Coinbase-ing and Binance-ing and Blackrock-ing of TikTok

Coinbase is only allowed to operate if it meets the SEC's strict standard, even if it limits US crypto users from crypto opportunities and subjects them to heavy surveillance.

Binance's CEO was vindicated and forced to step down.

Bitcoin is allowed to go mainstream only if it's packaged and sold as a Blackrock ETF product. (That way, you don’t need to custody your own crypto in your own wallet.)

Now with TikTok, it also needs to be in the government’s tight grip.

The TikTok Bill forces the platform to be sold to a US entity, or else it will be banned. This is an attempt to control TikTok and curb any dissent brewing inside it. You can expect heavier censorship, just like on Meta social apps. This is blackmail and extortion of another level, yet as someone who is in crypto, I found that unsurprising because we have seen it repeatedly in our industry.

It’s once again a sign of elites losing control and attempting to regain it. Just like with the crypto ban, it’s an acknowledgment of the potential of the very thing they’re trying to ban. Of course, they’ll mask it as “to protect”. Each time, it’s the same formula.

The economic implication

On top of everything, does any politician backing this bill think about the economic impact of TikTok getting banned? Unlike crypto, TikTok has an actual ‘use case’. It really helps people make a living.

A while ago, I watched a video of this dressmaker lady who shared how her customers came from faraway countries like Ireland and Brunei. Thanks to TikTok, their customers found her and her products.

Duolingo, a language app, is basically a star on TikTok with multiple viral videos. Imagine them and other US apps/startups losing reach because they simply can’t post videos there.

Does the US government really want to deprive both everyday citizens and big businesses of opportunities?

The CEO of TikTok said that Billions worth of income and 300,000 American jobs are threatened by this possible US ban. TikTok itself has 150 million American users. That’s a third of the whole population. Honestly, I won’t be surprised if there’s some kind of revolution over this TikTok ban. It’s bad enough you give them inflation, now you are also trying to ban the very platform many make money on.

Heavy paranoia (sinophobia, russophobia) and increasing protectionism a sign of a declining empire. China only began to prosper when it started to open up. America is ironically heading in the opposite direction. With continuous debt being printed, wars they can’t afford, a stock market bubble where few names carry out the entire market, a cost of living crisis, and other day-to-day societal collapses (homelessness), the US is set to go down the drain.

If they decide to fast-track it by banning the platform where their citizens get educated/entertained, and for some, a platform to do business with, they’re definitely on the right track.