We are just seeing a big market consolidation, only the very strong will survive and DRK has come up pretty good if you ask me.
The scamming is not Crypto's fault, it's human nature.
You take a poor village in a remote part of the world, give them an internet connection and an unregulated money supply, they will do everything in their power to scam everyone they can. They will rationalise it too by taking the "we are poor and they are rich" stance.
You also lose a lot of empathy and compassion behind a computer screen, so the average Joe that wouldn't dream of snatching a purse from an old lady, is quite happy be more adventurous online under the guise of "It's an Open Market".
So there is the state of modern crypto.
You've got your right wing traditionalists that wont even touch Crypto without compliance and regulation in place, you have your left wing libertarians that will resist any form of control points or regulation, the real solution we end up with in 10 years time will be somewhere in the middle.
That's what they always say.
W
Whether this is just a really bad run we are having or the regulators themselves hiring shills to cause disruption, we need
some regulation.
Who will regulate the regulators? That's a large problem we are facing.
How do we regulate without destroying the essence of Crypto? Is it even possible?
there is no "some" in regulation !!!
ether they step in and control everything
or they stay out !
let them stay out we do not need regulations !
as they will run this system down, corrupt it with greed (even more) as they did to the banks !!
There already exists some regulation in the form of laws against fraud etc. Many unscrupulous people in crypto already fall afoul of these laws, but its so new and so different from what authorities currently police that virtually nobody gets prosecuted. But theres no reason why those anti-fraud laws can't run alongside a free crypto market and therefore no reason why new laws couldnt either. I for one would like to see blatant crypto fraud start being prosecuted.
So why the need for new laws, when existing laws can already be used?
It's to seize power, plant the flag, put the foot in the door.
I also think the bitcoin community, exposed and ostracized moolah's Alex Greene pretty quick. He will always be known as that "That guy who scammed with mintgox"
Is that enough? imo, yes! No need to hand power over to the state.
People need to be more vigilant...
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