Crypto regulations still have a chance? - page 6.

avikz

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Quote from: Refrumatrix on June 03, 2020, 11:29:33 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?

I personally believe that favorable crypto regulation will do good to the market most certainly. Scammers are present even in highly regulated markets so it is impossible to get rid of them. However, with proper regulation and legal framework around it, we will be able to reduce the number of scams for sure. But the use of regulation is not only to stop scammers. There are huge benefits for crypto market if we regulate it,

1. Legal merchants will be interested in accepting bitcoin as a payment method
2. People will be able to promote bitcoin openly to the mass
3. It will pave ways towards innovation
4. Service class people will be interested in investing if a tax framework is provided
5. Banks will stop spreading fake news about cryptocurrency
6. It's legal

Now along with regulation, if LN is adopted by mass it would definitely give Visa and Mastercard a tough competition.

ije07

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as we know that crypto regulations will not solve problems in the crypto industry, on the one hand scamers will never stop deceiving their victims, on the other hand some countries do not approve the presence of the crypto industry for several reasons, especially for negative actions such as money laundering, transactions illicit goods etc.

acdc

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think the biggest barrier of cryptocurrencies is the government's opposition to the cryptocurrency market. Governments around the world don't like a currency they can't handle so they don't like bitcoin and cryptocurrencies.
Imagine that one day the president of the United States or the president of China said that their country would support bitcoin, certain that the price of bitcoin would rise ever higher.

Akiko

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Quote from: Refrumatrix on June 03, 2020, 11:29:33 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?

Even the exchange is regulated there are still many scammers and hackers that will find a way to grab peoples money.

The regulation of exchange will not give any help to user's unless the exchange can freeze balance the day it is sended to other address its hard to know if who's account will get hacked the day before the funds transfer to other wallet address so the same results expected to happen even its regulated or its not.

thesmallgod

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Maybe you need to read more about crypto regulations and cryptocurrencies generally. It is not only scammers that have a negative impact on crypto and furthermore you made mention of centralized system as the output of regulated system which is true but you still do not know that in a centralized system, scammer identity can be traced which is the reason why centralized system require KYC documents especially when you want to move a large amount of crypto asset.

SolarWindMiningCompany

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Quote from: Refrumatrix on June 03, 2020, 11:29:33 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?

like you opined, regulation is a necessity that must happen. It will not totally eradicated frauds but it can control the excesses. Exchanges are slogging towards it because you can't withdraw a higher amount of btw without a kyc. The fact that the industry is not fully regulated is as a result of the innate decentralized nature of bitcoin. But if that can't be regulated, perhaps projects and exchanges can. Do you know why TON has stopped development?

semobo

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Quote from: Refrumatrix on June 03, 2020, 11:29:33 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?

If you think regulation can help you from scammers then why all these bank frauds are happening, fiat money is completely under the control of every government right?

So regulation is to make you to pay more taxes and that is the only thing every government want from their citizens.

nancy

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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

Refrumatrix

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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?

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