How can this be good for the cryptospace environment in the state of New York?

Wind_FURY

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Quote from: meanwords on July 26, 2019, 08:47:12 PM

Quote from: kryptqnick on July 26, 2019, 07:48:17 AM

I don't really see much wrong with it. Whereas Ripple is certainly a centralized and regulated pro-bank project, what's wrong with Ethereum? Moreover, it's good that people in the administration will be at least favorable to cryptocurrencies at all (and the Ethereum guy can push pro-decentralization, no?). After all, much worse people could be appointed, both from the crypto sphere like Craig Faketoshi and, even worse, some stock manager/Paypal guys who think Bitcoin's a financial pyramid and a thing drug dealers use. While Ripple and Ethereum might get an advantage out of this situation, I think there'll be good stuff for the crypto market in general.

I heard that the team could manipulate Ethereum at some point which makes it a bit dangerous. They have some control over Ethereum and that this is proven from the fact that they have a top models governing the cryptocurrency. I think Ethereum did try to become decentralized but it failed. Ethereum and Ripple are both centralized. Who knows what this guys have in mind since greed will always be there in the corner.

They can. Research the DAO, and learn. It was one of the biggest scandals in cryptocurrency history. Another stupid thing they're proposing is EIP-2025.

Fundamentals Of

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The point here is that regardless of which particular coins or projects these individuals support, it remains to be a fact that cryptocurrency has already infiltrated the system. That is one huge step already. That is a door opening already, however slightly it seems. That is for me a welcome development. Just let the first party enters and there will be more to follow. Just let these 2 men speak to them and whatever the result is, cryptocurrency will remain inside their heads.

meanwords

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Quote from: kryptqnick on July 26, 2019, 07:48:17 AM

I don't really see much wrong with it. Whereas Ripple is certainly a centralized and regulated pro-bank project, what's wrong with Ethereum? Moreover, it's good that people in the administration will be at least favorable to cryptocurrencies at all (and the Ethereum guy can push pro-decentralization, no?). After all, much worse people could be appointed, both from the crypto sphere like Craig Faketoshi and, even worse, some stock manager/Paypal guys who think Bitcoin's a financial pyramid and a thing drug dealers use. While Ripple and Ethereum might get an advantage out of this situation, I think there'll be good stuff for the crypto market in general.

I heard that the team could manipulate Ethereum at some point which makes it a bit dangerous. They have some control over Ethereum and that this is proven from the fact that they have a top models governing the cryptocurrency. I think Ethereum did try to become decentralized but it failed. Ethereum and Ripple are both centralized. Who knows what this guys have in mind since greed will always be there in the corner.

bbc.reporter

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Quote from: kryptqnick on July 26, 2019, 07:48:17 AM

I don't really see much wrong with it. Whereas Ripple is certainly a centralized and regulated pro-bank project, what's wrong with Ethereum? Moreover, it's good that people in the administration will be at least favorable to cryptocurrencies at all (and the Ethereum guy can push pro-decentralization, no?). After all, much worse people could be appointed, both from the crypto sphere like Craig Faketoshi and, even worse, some stock manager/Paypal guys who think Bitcoin's a financial pyramid and a thing drug dealers use. While Ripple and Ethereum might get an advantage out of this situation, I think there'll be good stuff for the crypto market in general.

You will not see anything wrong if you are an Ethereum or Ripple bagholder hehe. However, corruption and human greed is real. I reckon I would only trust them on their appointments if they sell all their coins and leave Ethereum and Ripple.

wxxyrqa

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It seems to me that first of all, the central government of the country should change its opinion on the cryptocurrency. If Congress and the President of the United States express their dissatisfaction with the cryptocurrency market, and in particular about Bitcoin, this will not bode well for the whole country.

kryptqnick

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I don't really see much wrong with it. Whereas Ripple is certainly a centralized and regulated pro-bank project, what's wrong with Ethereum? Moreover, it's good that people in the administration will be at least favorable to cryptocurrencies at all (and the Ethereum guy can push pro-decentralization, no?). After all, much worse people could be appointed, both from the crypto sphere like Craig Faketoshi and, even worse, some stock manager/Paypal guys who think Bitcoin's a financial pyramid and a thing drug dealers use. While Ripple and Ethereum might get an advantage out of this situation, I think there'll be good stuff for the crypto market in general.

Kakmakr

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Quote from: squatter on July 25, 2019, 03:27:58 PM

Quote from: Kakmakr on July 25, 2019, 02:46:44 AM

Quote from: squatter on July 25, 2019, 02:34:03 AM

Quote from: avikz on July 25, 2019, 01:22:01 AM

I am seriously not finding anything wrong in this move of including two crypto businessmen in the task force. It could have been much more worse not to have these leaders in the task force. At least these people will ensure that things don't turn hostile for the crypto users in the state of NY.

Agreed. From a regulatory standpoint, what's good for Ripple and Ethereum is also good for Bitcoin.

I do not entirely agree with your statement that, " From a regulatory standpoint, what's good for Ripple and Ethereum is also good for Bitcoin. " The BitLicense was a blow to the NY Bitcoin operators, because it placed a complex and expensive barrier to entry for anyone that wanted to use Crypto currencies in NY.

BitLicense was introduced in 2014 and was bad for all cryptocurrency services -- whether they served Bitcoin or altcoins. What does that have to do with Joseph Lubin and Ryan Zagone being appointed to the Digital Currency Taskforce two days ago?

Quote from: Kakmakr on July 25, 2019, 02:46:44 AM

Ripple is also not a true Crypto currency and Ethereum is Bitcoin's strongest competition and having them getting a stronger foothold in the economic capital of one of the strongest economies in the world, is bad for Bitcoin. Roll Eyes

Could you give a concrete example of how this could hurt Bitcoin?

Well, if you read my previous posts, you would have noticed that I also mentioned a controversial character, called Ben Lawsky, the architect of the BitLicense. He is now connected to the Ripple team and this guy only concentrate on his on financial interests and would disadvantages all other Crypto currencies to further his own interest. His influence and connections from being the former New York Superintendent of Financial Services, would help him to boost Ripple and also to make it difficult for the competition to compete on a level playing field.

Let's just say, Bitcoin will definitely not flourish in any scenario where Ben Lawsky is involved. Angry

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Quote from: pooya87 on July 24, 2019, 11:58:12 PM

centralized entities attract each other, so obviously they prefer dealing with those cryptocurrencies that are more centralized and can be controlled and regulated rather than dealing with something they can not control because it is decentralized.
additionally these coins have owners, companies,... which obviously work with the authorities whereas bitcoin doesn't have anyone, there is no owner or a "bitcoin company" to want to participate in a task force like this!

Is there a company that runs ethereum? I mean there is to the point of a foundation but the same could be said about the core team couldn't it?

no because the core team didn't run a bitcoin ICO to raise a ton of money and they didn't premine bitcoin to get a sudden 75 million bitcoins. on top of that if core wanted to suddenly roll back the blockchain they could not because they have no control over bitcoin. all of these things had already happened in ethereum!

bbc.reporter

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In any case, this news might also be good news for speculators looking for which cryptocoins to buy hehe. Ethereum and Ripple hehehe.

Joseph Lubin and Ryan Zargone would certainly try to kill the competition.

1Referee

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Quote from: Kakmakr on July 25, 2019, 02:46:44 AM

The BitLicense was a blow to the NY Bitcoin operators, because it placed a complex and expensive barrier to entry for anyone that wanted to use Crypto currencies in NY.

The BitLicense is expensive because there is not enough user demand within NY to justify the time and money you have to spend to get it. This is why a lot of crypto related businesses prefer to ignore NY because it's just not worth the hassle. I can perfectly understand that. NY has been over-regulated for decades. It affects more industries than just that of crypto.

I like that businesses ignore NY because it's a clear indication that this state is not competitive compared to the other states. It's losing out and this is how it should be.

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Quote from: avikz on July 25, 2019, 01:22:01 AM

I am seriously not finding anything wrong in this move of including two crypto businessmen in the task force. It could have been much more worse not to have these leaders in the task force. At least these people will ensure that things don't turn hostile for the crypto users in the state of NY.

Time will tell if they try to turn the tide to their personal favor or not but having no representation from crypto business is much more worse! At least these two people will ensure that nothing goes against the cryptos in general!

I also think so.Whatever they people were not,but in any case for the crypto space at least new York, they just have to do something.Later on, we will judge by actions and deeds whether their work was effective or not.

foundthiss**t

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Quote from: bbc.reporter on July 24, 2019, 10:42:35 PM

The influence of Joseph Lubin of Ethereum and Ryan Zagone of Ripple will certainly corrupt the task force and make it move according to the advantage of their own platforms.

The New York state government have certainly made an improper start by including those 2.

https://i.ibb.co/CQ9WXJh/image.jpg

Ethereum co-founder Joseph Lubin and Ripple director of regulatory relations Ryan Zagone have been appointed to New York’s new Digital Currency Taskforce.

The group will help New York lawmakers shape the regulatory environment for blockchain and cryptocurrency in the Big Apple.

Assemblymember Clyde Vanel announced the six legislative selections for the task force, which was created back in January.

“New York was the first state in the nation to create a cryptocurrency task force to help the states and the country figure out how to properly regulate digital currency and blockchain technology...

We are excited that we’re going to have some of the premier people in blockchain technology and in cryptocurrency help guide New York state and the country, and maybe the world, on finding the right level of regulations in this space.”

Read in full https[Suspicious link removed]cutive-join-new-yorks-digital-currency-taskforce/

vitalik is great guy and master mind in some level, he know his shit and he one of this guys need to be underground ,

xrp its shit coin only from the supply point of view its already dead, to much supply lead to lose value over time from economical point of view.

if ethereum is centralized also bitcoin is centralized ,,,the miners are less spread and more centralized by big boys,,,still after all this its decentralized , there are levels of decentralization , which mean the miners in the hands o few big boys ...yet again its decentralized because its not under one hand*

to make a coin more decentralized you need find the right protocol or mix * creativity and nothing.

xrp is top shit coin was and will be and will lose value over time the supply is to much ask any expert economist.

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Quote from: Artemis3 on July 25, 2019, 04:00:49 PM

Quote from: avikz on July 25, 2019, 01:22:01 AM

I am seriously not finding anything wrong in this move of including two crypto businessmen in the task force. It could have been much more worse not to have these leaders in the task force. At least these people will ensure that things don't turn hostile for the crypto users in the state of NY.

Time will tell if they try to turn the tide to their personal favor or not but having no representation from crypto business is much more worse! At least these two people will ensure that nothing goes against the cryptos in general!

Conflict of interests? Particularly favoring their own projects in detriment of the rest of the space? Sure it beats people that know nothing, but it still warrants attention, from the community.

Regulation in general is not good. The more the State meddles in, the less freedom the people ends with...

Of course, there is a large amount of conflict of interest, but then again, I am really not surprised 2 co-founders of another centralized coin are working with the government, but when you think about it, who would be better for the job? Some financial advisors who don't have any real-world knowledge or cryptocurrencies? Out of the current pool of candidates, this isn't too bad. If Ethereum and Ripple grow with the regulations, the whole crypto market will grow as well, including Bitcoin.

Think about this before you think this is the end of the world. Who else would make a suitable candidate other than these 2? Financial advisors? Politicians?

To be fair though, Ben has pretty skewed morals, and what he did with Bitlicense was bad for the crypto industry on a whole.

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Quote from: avikz on July 25, 2019, 01:22:01 AM

I am seriously not finding anything wrong in this move of including two crypto businessmen in the task force. It could have been much more worse not to have these leaders in the task force. At least these people will ensure that things don't turn hostile for the crypto users in the state of NY.

Time will tell if they try to turn the tide to their personal favor or not but having no representation from crypto business is much more worse! At least these two people will ensure that nothing goes against the cryptos in general!

Conflict of interests? Particularly favoring their own projects in detriment of the rest of the space? Sure it beats people that know nothing, but it still warrants attention, from the community.

Regulation in general is not good. The more the State meddles in, the less freedom the people ends with...

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Quote from: Kakmakr on July 25, 2019, 02:46:44 AM

Quote from: squatter on July 25, 2019, 02:34:03 AM

Quote from: avikz on July 25, 2019, 01:22:01 AM

I am seriously not finding anything wrong in this move of including two crypto businessmen in the task force. It could have been much more worse not to have these leaders in the task force. At least these people will ensure that things don't turn hostile for the crypto users in the state of NY.

Agreed. From a regulatory standpoint, what's good for Ripple and Ethereum is also good for Bitcoin.

I do not entirely agree with your statement that, " From a regulatory standpoint, what's good for Ripple and Ethereum is also good for Bitcoin. " The BitLicense was a blow to the NY Bitcoin operators, because it placed a complex and expensive barrier to entry for anyone that wanted to use Crypto currencies in NY.

BitLicense was introduced in 2014 and was bad for all cryptocurrency services -- whether they served Bitcoin or altcoins. What does that have to do with Joseph Lubin and Ryan Zagone being appointed to the Digital Currency Taskforce two days ago?

Quote from: Kakmakr on July 25, 2019, 02:46:44 AM

Ripple is also not a true Crypto currency and Ethereum is Bitcoin's strongest competition and having them getting a stronger foothold in the economic capital of one of the strongest economies in the world, is bad for Bitcoin. Roll Eyes

Could you give a concrete example of how this could hurt Bitcoin?

Wind_FURY

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OP is right. Hiring them would already be a "failure" of the newly formed regulatory task force, because there will be special-interest groups that could influence any decision making made by the "task force". Roll Eyes

Kakmakr

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Quote from: squatter on July 25, 2019, 02:34:03 AM

Quote from: avikz on July 25, 2019, 01:22:01 AM

I am seriously not finding anything wrong in this move of including two crypto businessmen in the task force. It could have been much more worse not to have these leaders in the task force. At least these people will ensure that things don't turn hostile for the crypto users in the state of NY.

Agreed. From a regulatory standpoint, what's good for Ripple and Ethereum is also good for Bitcoin.

Quote from: bbc.reporter on July 24, 2019, 10:42:35 PM

The influence of Joseph Lubin of Ethereum and Ryan Zagone of Ripple will certainly corrupt the task force and make it move according to the advantage of their own platforms.

I don't see how they could do that. We should probably just be happy the task force isn't entirely composed of grumpy old career politicians.

I do not entirely agree with your statement that, " From a regulatory standpoint, what's good for Ripple and Ethereum is also good for Bitcoin. " The BitLicense was a blow to the NY Bitcoin operators, because it placed a complex and expensive barrier to entry for anyone that wanted to use Crypto currencies in NY.

Ripple is also not a true Crypto currency and Ethereum is Bitcoin's strongest competition and having them getting a stronger foothold in the economic capital of one of the strongest economies in the world, is bad for Bitcoin. Roll Eyes

squatter

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STOP SNITCHIN'

Quote from: avikz on July 25, 2019, 01:22:01 AM

I am seriously not finding anything wrong in this move of including two crypto businessmen in the task force. It could have been much more worse not to have these leaders in the task force. At least these people will ensure that things don't turn hostile for the crypto users in the state of NY.

Agreed. From a regulatory standpoint, what's good for Ripple and Ethereum is also good for Bitcoin.

Quote from: bbc.reporter on July 24, 2019, 10:42:35 PM

The influence of Joseph Lubin of Ethereum and Ryan Zagone of Ripple will certainly corrupt the task force and make it move according to the advantage of their own platforms.

I don't see how they could do that. We should probably just be happy the task force isn't entirely composed of grumpy old career politicians.

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Quote from: bbc.reporter on July 24, 2019, 10:42:35 PM

The influence of Joseph Lubin of Ethereum and Ryan Zagone of Ripple will certainly corrupt the task force and make it move according to the advantage of their own platforms.

The New York state government have certainly made an improper start by including those 2.

Ethereum co-founder Joseph Lubin and Ripple director of regulatory relations Ryan Zagone have been appointed to New York’s new Digital Currency Taskforce.

The group will help New York lawmakers shape the regulatory environment for blockchain and cryptocurrency in the Big Apple.

Assemblymember Clyde Vanel announced the six legislative selections for the task force, which was created back in January.

“New York was the first state in the nation to create a cryptocurrency task force to help the states and the country figure out how to properly regulate digital currency and blockchain technology...

We are excited that we’re going to have some of the premier people in blockchain technology and in cryptocurrency help guide New York state and the country, and maybe the world, on finding the right level of regulations in this space.”

Read in full https://dailyhodl.com/2019/07/24/ethereum-co-founder-and-ripple-executive-join-new-yorks-digital-currency-taskforce/

This is good news because in the past we thought governments has been behaving as if they will not need cryptocurrency experts before regulating blockchain technology. This two cryptocurrencies’ experts are going to advise task force in a way that will help the growth of cryptocurrency. If you are still thinking that USA governments or New York is going to ban bitcoin then you are deceiving yourself . Any negative comments from governments against bitcoin from now should be consider as FOMO or FUD and that is for them bring bitcoin down to buy cheap.

avikz

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I am seriously not finding anything wrong in this move of including two crypto businessmen in the task force. It could have been much more worse not to have these leaders in the task force. At least these people will ensure that things don't turn hostile for the crypto users in the state of NY.

Time will tell if they try to turn the tide to their personal favor or not but having no representation from crypto business is much more worse! At least these two people will ensure that nothing goes against the cryptos in general!

Topic: How can this be good for the cryptospace environment in the state of New York? (Read 270 times)