Crypto regulations still have a chance? - page 4.

rathaha10

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Quote from: Refrumatrix on June 03, 2020, 10:29:33 AM

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?

To be honest, I'm against the entire concept of crypto regulations because regulations and long chain of centralization are among the key challenges bitcoin was created to solve so if the crypto space is to be regulated, it implies that we are handling the concept of cryptocurrency to government and other legal parastatas which i believe everyone will agree is not what we really need in this sector. I believe the challenges of scammer attacks can be solved if cryptocurrency platforms works on their security algorithms to make it stronger

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Quote from: Refrumatrix on June 03, 2020, 10:29:33 AM

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?

In my opinion, coins circulating on the market today sell tokens by ICO or IEO methods and certainly have offices because they have employees. In contrast to coins such as Bitcoin which is based on open source and communities that are truly decentralized, many altcoins have offices and this can be a reference to regulate regulations.

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Regulations will not solve the problems in cryptocurrency but it will boost people's confidence in cryptocurrency. It will also eliminate the scam ICOs and IEOs we've experienced of recent. Regulation is good to an extent hopefully cryptocurrency gets regulated at some point.

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Regulations definitely come, but I believe it would be the best what we can expect because we finally need some clear rules, what cryptocurrencies are, how can they be used, how to pay taxes, and much more. Without this we live in the fear, what will happen in the future. But I believe that governments will regulate cryptocurrencies in a way that will help cryptocurrencies to adopt - because they get money from them, right? Wink

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Quote from: Refrumatrix on June 03, 2020, 10:29:33 AM

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?

Regulation is needed for mass adoption. Once the government acknowledges and regulate the cryptocurrency industry, the feeling of protection, and security blossom. Why? Because guidelines that were non-existent will be available. In case a new project or ICO appears, investors have an institution to verify if the said ICO is legit and have the proper documentation to operate. The regulation will somehow filter projects and at least minimize scam ICO that plague the crypto industry today.

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Quote from: Refrumatrix on June 03, 2020, 10:29:33 AM

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?

There are already centralized exchanges that are being regulated by the government in their countries. As for scammers, that's a problem, but even if regulation comes in fully into cryptocurrency and it's being declared as a legal asset in every country, there wouldn't be any much changes and scammers will still be here. So in this case of scammers, it's still up to us, to be careful.

If you don't want to get scammed, then you should stick to trading on centralized exchanges and also avoid new projects that you know nothing about. There are decentralized exchanges and these ones are not going to be regulated, they will still remain like they are, because there is no way that the government can regulate them.

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Quote from: Refrumatrix on June 03, 2020, 10:29:33 AM

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?

Crypto is still illegal in some countries and through regulations the problem can be solved but regulations can't erase scammers in crypto space, it's not possible, in everything that deals with money there will always be stealing and cheating, whether offline or online it's doesn't matter

shoreno

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if what your saying was true that crypto regulations only work on centralized exchanges , they cant monitor the scams that are going outside the platform like example a scamer go lurk on social media and ask someone with a good deal . the user that trades on that centralized exchange can get scammed without the exchange knowing it and will be too late to blocked his account . ive seen lots of this happening lately . we need wider support for regulation

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We don't ask for regulation, it will just come, the government are just watching us and sooner when the market gets bigger, they will dive in to regular crypto, that way they will get some taxes from us investors.

It's not new, as anything in this world can be touch by the government, so if we are hoping for full decentralization and full privacy, that would not happen as long as we have a government. Maybe for some countries crypto are not yet so popular so the government has not seen them yet or they haven't thought of regulating the market yet, but crypto will mature due to the increasing adoption and eventually the time will come that a certain country will be regulated.

The future of crypto is full regulation, and massive adoption will come next.

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Quote from: nancy on June 03, 2020, 10:41:10 AM

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

Can you define the term "Illegal"? Well, I think only a hand full of countries see cryptocurrency as Illegal. Majority of the countries only fear that Cryptocurrency might totally eradicate the centralized Finance. Bringing about a total Decentralization of money. This has been perceived to have adverse effects for countries that will totally adopt and accept cryptocurrency.

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Quote from: gwaposakon on June 05, 2020, 10:14:43 AM

Quote from: Refrumatrix on June 03, 2020, 10:29:33 AM

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?

Although regulation is opposite the aim of crypto for decentralization, I think the government puts out this policy to control abuse of projects. It put some sense of order to the industry. But if it controls too much the way the industry flows, it is also bad. Crypto is becoming mainstream that is why scammers are growing also.

The government is not wrong at all consider the government is also wanna try to protecting their investors from the scammers and it's not against the decentralization of crypto. The only way to avoid the scammer was through doing our own research to the project and never try to fall into the a big promises.

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Quote from: Refrumatrix on June 03, 2020, 10:29:33 AM

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?

Although regulation is opposite the aim of crypto for decentralization, I think the government puts out this policy to control abuse of projects. It put some sense of order to the industry. But if it controls too much the way the industry flows, it is also bad. Crypto is becoming mainstream that is why scammers are growing also.

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^ Regulation only means that the government allows the usage of crypto and removes some risks associated with scams, but that's about it. Cryptocurrency as a product still need to compete with other products, that's my concern.

* If it's about the store of value (sovereignty), it needs to compete with the gold.
* If it's about the payment system, fintech businesses are the leading competitor.

Atm, the strongest crypto use case still only for gambling and trading/speculation.

Botnake

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I also believe that the solution for massive adoption is the crypto regulation, when the market is regulated, people will feel the security, that is why the decentralized system cannot beat the centralized system since we have the government that will implement and monitor the law.
Decentralized system gives full freedom but it's very risky, and not a lot of people are high risk takers.

Maybe there will be manipulation but more from the government, so we need to vote wisely on who will govern us.

Crypto was build as a decentralized system but it can't prosper without the help and support of the government, this is a revolutionary technology that requires the support of the government to succeed.

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Quote from: minairia3 on June 05, 2020, 07:04:34 AM

Quote from: Refrumatrix on June 03, 2020, 10:29:33 AM

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?

There are some who agrees on this idea, also you are right. Scammers are the greatest threat on this business. Many people have been affected and fooles by these guys. If you think about it, regulations can somehow limit or decrease cases of scam if there is a providence applied mostly on ICO generated sites then these events will be lessen. Im not totally agree with some additional regulations cause Im sure this will be abused by authorities, but if they could draft a more comprehensive one that will end this then maybe I'll change my mind.

Regulation focuses on how to tax and watch the move of every crypto, Both startup project and exchange which is somehow needed based on the past issues that we experienced before like Mt.Gox exit scam and tons of ICO scam. Technically, Pure decentralized will not really work on our current condition. Let's admit it, even the famous BTC are now being regulated thru the used of exchange which is the only place to buy bitcoin unless you buy OTC which is quite risky IMHO.

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Quote from: Refrumatrix on June 03, 2020, 10:29:33 AM

Many people belief that the only solution crypto space needed is regulations, what will this solve?

That will solve below

Quote from: Refrumatrix on June 03, 2020, 10:29:33 AM

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?

It will not totally eliminate the scammers in the space but it will significantly minimize the scams.
Big portion of the scams are from crowdsale, if they are all regulated, they will have to comply all the necessary requirement first before running an ICO or IEO, and if they scam, the government can go after them easily as they know all the information from the team who run the crowdsale.

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Quote from: Refrumatrix on June 03, 2020, 10:29:33 AM

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?

There are some who agrees on this idea, also you are right. Scammers are the greatest threat on this business. Many people have been affected and fooles by these guys. If you think about it, regulations can somehow limit or decrease cases of scam if there is a providence applied mostly on ICO generated sites then these events will be lessen. Im not totally agree with some additional regulations cause Im sure this will be abused by authorities, but if they could draft a more comprehensive one that will end this then maybe I'll change my mind.

Tomohisa

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Quote from: Refrumatrix on June 03, 2020, 10:29:33 AM

Many people belief that the only solution crypto space needed is regulations,

If that is what they believe then I could say they're just a minority compared to many others against regulations. There are many ways to combat scams, not just force regulations on everyone and things that will compromise the whole decentralized that make crypto become popular today.

Byakuga

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Quote from: Teraboy on June 05, 2020, 01:43:16 AM

Quote from: someone703 on June 05, 2020, 01:05:52 AM

You cannot remove scammer from this market. And scammer exist everywhere, so you need to protect yourself from them. If you do not have the knowledge, you will surely be fooled and lose money

So many times SEC have been catching the scammers from the various project and it looks like the effort that has been doing by SEC didn't even work to give punishment to the scammers and more and more scammer are still around us. That has proven the regulation is not so effective.

Good point, things should be better now since SEC keeps hammering hard on scam ICO projects but instead more scam projects keeps coming, for online business users are at their own risk, government won't safe you but do more damages.

Byakuga

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With or without regulation scammers won't leave this space alone, it's left for crypto fans to keep themselves out if trouble and losses, regulations from government won't make a difference and mind you this won't stop crypto adoption in future, in the end countries won't have choice than to accept Cryptocurrencies

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