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Topic: Crypto regulations still have a chance? (Read 918 times)

full member
Activity: 657
Merit: 102
June 17, 2020, 09:50:36 AM
Sorry I'm one of those who thinks that regulations can't stop hackers and scammers, regulations can only control money laundering in crypto space through centralized projects and exchanges, I don't expect much from regulations
Agree, currently we have regulations on money laundering in this market. If money laundering is not controlled, I believe the market will soon collapse and die. And for scams, we never have clear rules about it, they will try to create scam projects in many different ways. We must know how to protect ourselves in this market
hero member
Activity: 2800
Merit: 603
Sorry I'm one of those who thinks that regulations can't stop hackers and scammers, regulations can only control money laundering in crypto space through centralized projects and exchanges, I don't expect much from regulations
It cannot stop any of these but it will be a great help to minimize this kind of crime.
Well, it's maybe hard to stop hackers but the scammers, I think there will be a significant decrease of scams in the market as scammers will certainly face jail time if they will do this illegal activities and I believe when the market is regulated, more preventive measures will be put in place that we will follow.
legendary
Activity: 3164
Merit: 1174
Sorry I'm one of those who thinks that regulations can't stop hackers and scammers, regulations can only control money laundering in crypto space through centralized projects and exchanges, I don't expect much from regulations

Crypto is already regulated, regulated by the team and their idea, you know what you can and what you cant do with some coins. Further regulations will not help, centralization will not help, centralised projects run by groups of people for one purpose, that group to be richer, while others will stay on bottom will not help (that kind of system last for decades).
What we need is awareness, we need tolerance, compassion, understanding. Only we that we can rise as society where every person will have the same rights and life conditions.
member
Activity: 490
Merit: 10
Sorry I'm one of those who thinks that regulations can't stop hackers and scammers, regulations can only control money laundering in crypto space through centralized projects and exchanges, I don't expect much from regulations
full member
Activity: 407
Merit: 100
DIA | Data infrastructure for DeFi
Regulation will help a bit, scams can reduced but not entirely wiped out, regulations is like the law and a world without the law is going to be a living hell, regulation will work but not 100 percent
The regulation will make the scammers will be thinking for a twice before they wanna try to scam others. The problem is the implementation for the open market. At least the regulation gives more guarantee for people who have invested or played with crypto.
Right. However, it seems hard to create regulations in this market. The reason is that there's no particular organization has direct controls over the market. If we need regulations, who will create? who will ensure that people follow it? What's the punishment? It's just a hard thing to do!
hero member
Activity: 2898
Merit: 520
Leading Crypto Sports Betting & Casino Platform
Regulation will help a bit, scams can reduced but not entirely wiped out, regulations is like the law and a world without the law is going to be a living hell, regulation will work but not 100 percent
The regulation will make the scammers will be thinking for a twice before they wanna try to scam others. The problem is the implementation for the open market. At least the regulation gives more guarantee for people who have invested or played with crypto.
member
Activity: 742
Merit: 16
Regulation will help a bit, scams can reduced but not entirely wiped out, regulations is like the law and a world without the law is going to be a living hell, regulation will work but not 100 percent
full member
Activity: 467
Merit: 100
DIA | Data infrastructure for DeFi
Did the scammers outside crypto go away? I don't think so.
Remember outside our crypto space is regulated and there are still plenty of scams and hackers that aren't able to be tracked.
In Facebook, there's quite plenty of those "properly-groomed" looking businessman with just a dirty intentions to grab your money and heck they can still get away.
Regulations aren't solution for scams.
However, regulations can somewhat reduce the scams! You just said like ''there's crime all over the world despite that we have the laws". It sounds ridiculous. Agree that there are many scammers and the regulations can't stop all of them, but can stop some! Better have something than nothing right?
hero member
Activity: 2408
Merit: 550
Leading Crypto Sports Betting & Casino Platform
Many people belief that the only solution crypto space needed is regulations, what will this solve? The biggest crypto problem is scammers, how can regulations cure this disease? Because regulations can only work on centralized exchanges and projects, what do you think? Drop your thoughts and let's hear you out?

I am not defending the scammers, scammers will always try to scam, that's their nature and the way they think they always find a way, education is the key, and awareness on how the scammers works, and why the need to regulate, this is not how things should go Satoshi envisioned a decentralized monetary system, not going back to what he and we don't want.

as far as I know from the writing in whitepaper satoshi nakamoto said that he wanted to create something that could only be controlled by himself as the owner of the coin meaning that no one could control the coin cryptocurrency other than the owner itself meaning regulation for bitcoin would not be needed but for other cryptocurrency like altcoin may still be needed.
hero member
Activity: 2310
Merit: 757
Bitcoin = Financial freedom
Many people belief that the only solution crypto space needed is regulations, what will this solve? The biggest crypto problem is scammers, how can regulations cure this disease? Because regulations can only work on centralized exchanges and projects, what do you think? Drop your thoughts and let's hear you out?
Regulations are for what should we do and don't with this money which also will cover up with the laws if someone get scammed but in reality fiat also regulated and issued by government then why still people lose their money to scammers in different ways.

So the real way to end the scammers is to learn how to identify legitimate and scam offers.

It could have been good if they can be easily identified. The major problem some investors are facing in the crypto space is how to identify good projects. There are r=times that the project you feel is bad or a scam project, ending up well and growing so much after listing on exchnage, then even a project that is believed to be legitimate.
These days, it is more of what you are able to risk, but better not to risk your life savings with it.
Investments are risky though, I didn't talk about new projects in the crypto space anyway. Yes many new projects are scamming people so people see every new project as scam but its their own choice whether to invest on a project or not but if you ask me I won't with the current trend.Why you want to invest on a new project when you have thousands of them are existing here already.
jr. member
Activity: 84
Merit: 6
refercoins.com
unfortunately, we will need to go thought it, some governments don't understand how crypto works and how they want to screw everything some will try to do the same with cryptos, not good at all but we need to pass thought it.
full member
Activity: 1274
Merit: 100
The regulation will boost up the crypto market as there are many countries which do not allow crypto trading as they say it is illegal. After regulation, the crypto market will accept for all countries and this will increase the ranking and popularity of the altcoin market.
full member
Activity: 1456
Merit: 148
the opportunity is always there, let alone the crypto currency can change the world better,
but a big country like the United States will certainly not remain silent to fight bitcoin
You are correct, not only the united state but other  countries will definitely do because of their investment into the fiats system. They have fought Bitcoin during it early days and lost their battle against bitcoin because of it technological advancement. In my opinion there is nothing they can do to stop the adoption of Bitcoin than to adapt the technology. We are ready for regulations to carry-on the adoption, but one thing is certain that they can't ban Bitcoin.
jr. member
Activity: 574
Merit: 1
If there is a chance to centralized crypto currency l think  it would be a good earnings source. So l can say crypto regulation still have a  chance to get good earnings in future. I think so.
full member
Activity: 1414
Merit: 228
Omicron is another FUD
Many people belief that the only solution crypto space needed is regulations, what will this solve? The biggest crypto problem is scammers, how can regulations cure this disease? Because regulations can only work on centralized exchanges and projects, what do you think? Drop your thoughts and let's hear you out?
actually simple..  if there is a regulation means there is a legal umbrella if there is a legal umbrella means all types of activities related to cryptocurrency (trading, wallet, investment, transactions) are supervised, protected, and guaranteed by the state.  You cannot catch a scammer if fraud related to crypto is not a cybercrime.  I have no problem with the state taking a small portion of the crypto tax from each transaction that takes place during you, me, and all the existing crypto players who have crypto assets in the protected of the country's law..
hero member
Activity: 1232
Merit: 503
If regulations finally finds its way into crypto space it will give many people the nerve to invest in crypto, that's all I believe that regulation can do for crypto, as for scammers it's a different problem that regulations can't solve, those who engages in crypto should be responsible for their safety.
Scammers will doubt of scamming people when there is a full regulation.
Most of the scams in the past are coming from ponzi scheme and ICO, so if the market is regulated, ICO has to be registered and with that, it's easy for the authority to track those who commit illegal activities with their ICO, that's what regulation can do, it will not totally eliminate scams but it will help to reduce it.
I agree with you, just control the ICO, I believe this market will be controlled and there will be no more scammer in this market. The current market crash is because ICOs have destroyed and caused a lot of people to lose faith in this market.
The main problem is how you can do that on the open market like crypto when everyone able even creates their own contract and listed it into the exchange site (scam exchange site).
That needs a huge pressure to make it happen.
I don't really see a problem if an ico is listed in a shady exchange,  people would be cautious if the exchange has a terrible reputation, i think gullible people would only fall for it.
sr. member
Activity: 569
Merit: 250
If regulations finally finds its way into crypto space it will give many people the nerve to invest in crypto, that's all I believe that regulation can do for crypto, as for scammers it's a different problem that regulations can't solve, those who engages in crypto should be responsible for their safety.
Scammers will doubt of scamming people when there is a full regulation.
Most of the scams in the past are coming from ponzi scheme and ICO, so if the market is regulated, ICO has to be registered and with that, it's easy for the authority to track those who commit illegal activities with their ICO, that's what regulation can do, it will not totally eliminate scams but it will help to reduce it.
I agree with you, just control the ICO, I believe this market will be controlled and there will be no more scammer in this market. The current market crash is because ICOs have destroyed and caused a lot of people to lose faith in this market.
The main problem is how you can do that on the open market like crypto when everyone able even creates their own contract and listed it into the exchange site (scam exchange site).
That needs a huge pressure to make it happen.
member
Activity: 406
Merit: 37
Are you sure that the biggest crypto problem is a scammers? For total newbies - maybe. But actually if we are talking about big players regulators are much more important. Some merchants not ready to accept crypto in some countires because its illigal or, at least, not allowed

That's right because before cryptocurrency was passed, investors were hesitant to invest in it, I believe if the whole world had legalized cryptocurrency, the price of bitcoin and altcoin would soar higher than the current price.
sr. member
Activity: 1526
Merit: 420
I doubt that regulations could deter scams in the crypto space because even in the regulated markets scams still happening. Well atleast if the market is regulated we will know who runs the business also law could easily be enforced if the team committed violations or stole the funds of their investors.
full member
Activity: 2016
Merit: 156
The central finance systems are not spare from scammers even the government who operate the Centralized systems have been dupped several times without anyone identities be find. Banks have been robbed without any trace of the robbers, with this, even when the government bring into cryptocurrency regulations, believe me those scammers will still find their ways into fraud in the systems. Regulations won't be an Almighty formula for the rescue of cryptocurrency from fraudulent activities.
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