Topic: ㅤ - page 4. (Read 1065 times)

There is a good difference though, I mean if we are talking about regulation to set the legal boundaries for crypto then it is of course a good thing. However, let’s be honest there are a lot of stocks that goes down with certain regulations.

Like put up some pollution preventing regulations to energy sector and see how they will go down, over half of all the companies in the USA that pollutes the world comes from Texas energy companies for example, and that should tell you how regulations regarding pollution would destroy them. Which means not "all" regulations are good, some of them are good and some of them are not really that great in the end.

They still think or rather think Bitcoin as some kind of money that's easy to access just like how they access it through banks but they didn't realize what was the purpose of why Satoshi made Bitcoin. Some of them are out of their minds or they just want some kind of security where they can be safe against scammers but I would say that's not the point if that's what they it's all about for having a Bitcoin.

Pushing KYC or regulated cryptocurrency is just weird since it's most likely there's no difference between fiat and cryptocurrency that's being handled by the banks or third-party.

The good thing with decentralized blockchain technology and cryptocurrency is that all transactions are recorded in a transparent way to which every individual has access. So I think corruption will be countered by the transparent record of blockchain technology.

... What will the industry look like in 10 years in terms of regulation and KYC?

But at the same time, without regulation, a huge number of scams and scammers appear, many exchanges manipulate prices with impunity.

There is a good difference though, I mean if we are talking about regulation to set the legal boundaries for crypto then it is of course a good thing. However, let’s be honest there are a lot of stocks that goes down with certain regulations.

Like put up some pollution preventing regulations to energy sector and see how they will go down, over half of all the companies in the USA that pollutes the world comes from Texas energy companies for example, and that should tell you how regulations regarding pollution would destroy them. Which means not "all" regulations are good, some of them are good and some of them are not really that great in the end.

Regulating crypto will make common man stay out of crypto while the big whales and influencers will keep on getting bitcoin and making the general public more difficult to get bitcoin.

A famous youtuber Davincij15 told about these views in his current video ALTCOINS WILL EXPLODE SOON!!!!.
After seeing the views in this video about regulation, i am just confused whether regulation of crypto is good or bad for crypto  There may be few good things about regulation while there are some drawbacks for crypto regulation also.

With this kind of article, It had to be Bloomberg. Not surprised, they are always negative about Bitcoin and crypto in general.

I think we are already seeing the signs.

Remember the old days when there were not stablecoins and one has to determine trading pair prices in sats?
And then came the centralized stablecoins and before we know it there will be CBCDs in most crypto exchanges.

The problem is that masses tend to trust centralized and custodial services where they have to sign up and avoid being responsible with their own money. It why custodial services like Coinbase and blockchain wallet are so popular among new users and noncustodial wallets like Electrum less popular. Some people just don't want to go an extra mile.

Bloomberg although notoriously being a hater of bitcoin actually had a fair point in this one, at least to some degree. Regulating bitcoin or cryptocurrencies for that matter warrants more sophisticated systems of security that would then force scammers and hackers to be very tricky to get the upper hand in this cat and mouse game. Besides that I don't think there's any other benefit one could get from a centralized cryptocurrency regulated by an authoritative power like the governments.

I always think that regulation is needed for adoption and is inevitable when adoption reaches a certain threshold.  Though Bitcoin is created to have freedom with transactions or money transfers, we cannot deny the fact that the industry still needs government regulation in order to strengthen the trust of institutional investors.  Aside from that many people trust government-regulated industry more than those that are unregulated for a certain reason such as security.  So I agree that regulation is somehow a good thing.

Thats gonna be hard. Let just say decentralized are in favor of some especially the scammers, hackers and many thieves. Who keep jumping from ship to ship just to ransack money from people. Its something the government cannot tolerate. On the otherhand, even though the government has all authority on such regulation, being on centralized compromised corruption since it cant be held transparently which is also bad.

Not sure how to balance this cause both sides have their own pros and cons.

There are two points here regarding your comment:
1. If you don't like regulation > P2P is the solution
2. If you like > Follow and follow the regulation.

As users we can choose one of these two points without blaming one of them.

I don't think we have the power to go against the government and its rules, and we also know the world is filled with rules whether people like it or not.

I think it is inevitable that trading BTC on a platform will always require some regulation. A business needs some control and unfortunately, most of the time government (even if they are unreliable) is the only one who can do that. The best thing to do if you're not a fan of it is to do P2P trades. The network is gonna be fine regardless of what happen on the regulation side imo.

Crime existed hundreds of years before bitcoin and cryptocurrencies, and without bitcoin, the government would never be able to stop all crime. Regulating bitcoin will never stop criminals, they will find another way to continue their behaviour, don't always associate crime with bitcoin.

This is not going to happen. Regulation means user account control, if you don't control users how can you hunt criminals, there is no such kind of regulation.

With this kind of article, It had to be Bloomberg. Not surprised, they are always negative about Bitcoin and crypto in general.

The problem is that masses tend to trust centralized and custodial services where they have to sign up and avoid being responsible with their own money. It why custodial services like Coinbase and blockchain wallet are so popular among new users and noncustodial wallets like Electrum less popular. Some people just don't want to go an extra mile.

Stumbled upon a recent Bloomberg article: Bloomberg: Strict Regulation Boosts Professional Investor Interest in Cryptocurrencies

In it, the majority of retail investors support the regulation of the crypto sector, believing that this will benefit the industry. 65% of retail investors and 56% of professional investors support regulation.

In general, the trend towards a fully controlled crypto market in general, and bitcoin in particular, has been going on for quite some time. Every year the word KYC ceases to cause some kind of rejection and resentment. More and more crypto users are beginning to see this as normal... and even necessary, despite the fact that regulation, KYC, and centralization are against the foundations of cryptocurrencies.

I have repeatedly, participating in such discussions, written that the regulation of bitcoin and KYC is the reverse side of the success of both bitcoin and the entire industry. After we have seen the explosion of adoption and the emergence of cryptocurrencies in the everyday life of many people, this is starting to attract more and more attention from governments, bankers and regulators. If earlier they said that bitcoin is a bubble, bitcoin is used for drug trafficking and fraud, they tried to prohibit and limit it, now the course is set for regulation and centralized control.

Weird things are starting to appear in cryptocurrencies, such as reversible transactions, specifying the KYC of the sender and recipient when making a transaction, attempts to transfer bitcoin to PoS for spurious reasons, etc. A little more time will pass (3,5,7 years, who knows) and KYC (centralization) will already be perceived as the basis for working with bitcoin and cryptocurrencies. The concept of cryptocurrencies is no centralization, no KYC, everything is anonymous and without third parties. But at the same time, without regulation, a huge number of scams and scammers appear, many exchanges manipulate prices with impunity. How to find a balance between regulation and the fundamentals of cryptocurrencies (Bitcoin) and is it possible? What will the industry look like in 10 years in terms of regulation and KYC?

But at the same time, without regulation, a huge number of scams and scammers appear, many exchanges manipulate prices with impunity. How to find a balance between regulation and the fundamentals of cryptocurrencies (Bitcoin) and is it possible?

What will the industry look like in 10 years in terms of regulation and KYC?