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Topic: How did AML kill the decentralized market of Bitcoin? - page 4. (Read 716 times)

legendary
Activity: 1358
Merit: 1565
The first decentralized crypto betting platform
Can we still enjoy the decentralized nature of bitcoin?

Of course we can. Just because many people do not use it in a decentralised way does not mean that the rest of us cannot. Because of the nature of bitcoin, there will always be that option, even if more and more of it goes through centralised entities, although I would say that P2P use will be relegated to low or medium value transactions.
sr. member
Activity: 1022
Merit: 363
As we all know, Bitcoin is decentralized, and in its early days, we were proud of that fact--believing no government could control it and even thinking it might replace fiat. Those were the days when we were highly optimistic about Bitcoin’s future.
No government is still controlling bitcoin. Bitcoin is not a substitute for fiat but it is an alternative. You should not think that bitcoin will replace fiat.

Yes no government control bitcoin as they can't able to do it, its just they are regulating those platform involve in the industry so that they can possibly track the transaction flow happened or to know which people is using Bitcoin.

But also people should really not think about Bitcoin will replace fiat since it might trigger the officials and think about bad for bitcoin since this situation will leave some negative statement that bitcoin is huge treat for their traditional financing system.


If people would just do easiest approach and always think about that bitcoin is good alternative for sure this thinking will never give any negative impression to government. They might create some action on how they could able to maximize the potential of bitcoin then would never think about doing some bad actions towards this asset.
hero member
Activity: 2982
Merit: 610
As we all know, Bitcoin is decentralized, and in its early days, we were proud of that fact--believing no government could control it and even thinking it might replace fiat. Those were the days when we were highly optimistic about Bitcoin’s future.
No government is still controlling bitcoin. Bitcoin is not a substitute for fiat but it is an alternative.
Not directly, but these measures like KYC implemented to fight AML is one way of controlling the decentralized nature of bitcoin.

No KYC for noncustodial wallets and decentralized exchanges. There is nothing yet centralized to the point that government are controlling bitcoin
But these centralized exchanges facilitate majority of bitcoin transactions, I'm talking about the big picture.
Tell me some popular decentralized exchanges and its total volume to see they're really relevant.
legendary
Activity: 1512
Merit: 4795
Leading Crypto Sports Betting & Casino Platform
As we all know, Bitcoin is decentralized, and in its early days, we were proud of that fact--believing no government could control it and even thinking it might replace fiat. Those were the days when we were highly optimistic about Bitcoin’s future.
No government is still controlling bitcoin. Bitcoin is not a substitute for fiat but it is an alternative. You should not think that bitcoin will replace fiat.

However, with the current AML (Anti-Money Laundering) policies in place, it seems like Bitcoin’s decentralization is being challenged by regulations, especially with the introduction of KYC (Know Your Customer) requirements.
No KYC for noncustodial wallets and decentralized exchanges. There is nothing yet centralized to the point that government are controlling bitcoin
sr. member
Activity: 448
Merit: 560
Crypto Casino and Sportsbook
As we all know, Bitcoin is decentralized, and in its early days, we were proud of that fact--believing no government could control it and even thinking it might replace fiat. Those were the days when we were highly optimistic about Bitcoin’s future.
However, with the current AML (Anti-Money Laundering) policies in place, it seems like Bitcoin’s decentralization is being challenged by regulations, especially with the introduction of KYC (Know Your Customer) requirements.
Can we still enjoy the decentralized nature of bitcoin?
Of course we can. Decentralisation is becoming harder and harder as days go by just like you said. However we still have the bitcoin network as a decentralised network no matter what. Of course the government wants to be in control every single time, however the nature of bitcoin is fully based on decentralisation starting from mining down to even price.

The best way we can assist is for more people to key into decentralisation especially because of it's importance and freedom. Another important thing is to vote in the right leaders. Most topics about Trump and this election is to endeavour people to vote someone who's in support of the bitcoin and decentralisation network and not someone against it.
hero member
Activity: 2982
Merit: 610
As we all know, Bitcoin is decentralized, and in its early days, we were proud of that fact--believing no government could control it and even thinking it might replace fiat. Those were the days when we were highly optimistic about Bitcoin’s future.

However, with the current AML (Anti-Money Laundering) policies in place, it seems like Bitcoin’s decentralization is being challenged by regulations, especially with the introduction of KYC (Know Your Customer) requirements.

Here's a brief definition of AML and money laundering for context.
Quote
Money laundering is a type of financial crime. It involves taking criminally obtained proceeds (dirty money) and disguising their origins so they’ll appear to be from a legitimate source. Anti-money laundering (AML) refers to the activities financial institutions perform to achieve compliance with legal requirements to actively monitor for and report suspicious activities.
https://www.sas.com/en_ph/insights/fraud/anti-money-laundering.html

Can we still enjoy the decentralized nature of bitcoin?
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