Topic: Regulation seem like the only option left (Read 1047 times)
Although the anonymous and decentralized nature of crypto makes it hard to be regulated, crypto is a global force that every nation is directly or indirectly identifying with and the popularity, acceptability is on the rise irrespective of the season(bullish or dump). The IMF, UK and USA are fully aware of how their actions and inactions can easily influence the crypto market, so although they may not be able to regulate it from the inside they will create a policy that will appeal to human consciousness and thus change the course of things, if comments from individuals can cause massive impact on the crypto market how much more this world economic power houses?. Secondly, crypto is also a safety net for the every governments because there are certain underlying financial activities that they may carry out and would want to keep a low profile so they may never subscribe to a regulated crypto market. So i dont see any form of regulation in the forseable future
If we are to have mass adoption of cryptocurrency, we need to accept the fact that there will be regulations that go along with it. The government will discourage anyone from using cryptocurrencies without regulation. Regulation will help keep the market clean scam projects and scammers will go to jail and can no longer compromise our safety but the regulations will limit our anonymity somewhat, cryptocurrency gives us certain privacy, once the regulation is passed it will affect us.
That's certainly true, mate. Regulations will affect our privacy in every way. They're meant to minimize the number of scams, hacks and/or theft, but they can also affect the average person by exposing his/her identity in a centralized platform. KYC/AML are security holes that make Blockchain tech no different than traditional banking. Unfortunately, there's nothing we can do if we want crypto to be legalized worldwide. Either exchanges comply or face serious consequences in the long run.
It's a good thing crypto/Blockchain tech is decentralized or things would've been worse by now. The future is widely unpredictable so no one knows what governments will come up with to either stifle or amplify crypto/Blockchain tech's growth worldwide. Just my thoughts
Will there ever come a time that the government reaction to crypto will be encouraging for the people? Lately the head if international monetary fund Christine lagarde stated that regulatory action from the international community on crypto is inevitable ..what do you think
Honestly speaking, there are a lot of countries nowadays, where they've adopted the concept of the cryptocurrency business.
Where Bitcoin is the top brand of crypto's and you can see all over the world now via online system payment and even in the stock market as well. Moreover, there are some of thecryptocurrency in which are now regulated by some of the country I think few of them are in that situation so far. And for me regulation in some of the cryptocurrency is can be a good thing for us to make our assets will become more secure and to be lessen or remove the scammers who used cryptocurrency to get a victim to collect funds from the other people here in this industry.
Agreed with abiky. I don’t think satoshi invented bitcoin to be a toy for WS. It is sad that it already become one anyway. It is nit bitcoin’s or satoshi’s fault though. If it is tradable, WS will trade it. We can’t stop it.
Bitcoin came this far without any regulations. Why do we really need it? Yes it will legitimize bitcoin but then the government will have control over it somehow. I am not sure if that’s a good idea.
Bitcoin came this far without any regulations. Why do we really need it? Yes it will legitimize bitcoin but then the government will have control over it somehow. I am not sure if that’s a good idea.
Never thought I would prefer govt regulation to crypto but this is it. Yes, we're in need of regulation of crypto so we can attract more hedge funds and investors to our crypto market. So we can see a new craze of net inflow of money into crypto instead stuck in the bear market like this.
Crypto was never about becoming part of Wall Street. It was more like a libertarian/cypherpunk movement to bring an alternative financial system free from governments and third-party interference. You'd just send/receive/trade crypto without any middleman whatsoever. Unfortunately, people took crypto as a means of investment instead of a currency. Loss of funds, hacks, and other undesired situations forced governments to intervene. Now they want a piece of the pie by regulating the crypto industry. Governments won't be able to enforce regulations on decentralized networks, but they will be able to do so at centralized exchanges and service providers. You can see KYC almost everywhere, greatly defeating crypto's original purpose. At least, Bitcoin is decentralized. As long as it stays that way, there should be nothing to worry about. Just my thoughts
If we hear regulations, we will think of rules that will create many limits, there is no more freedom so many developers and even exchange owners don't want to make regulations, and I think this is good, let the laws of nature work and we will see if cryptocurrencies will continue to grow .
I know that the regulations somehow represent being tied to a traditional and control system, it is something that cannot be denied, but in part it helps to enter countries that are very strict, that only like their economy through their local currency, but in the same way when entering, people will be that promoter that will have BTC and crypto, where it is difficult to enter the BTC will achieve it through regulations, it is like making a kind of temporary peace between the enemies of BTC for qeu can be developed in the most difficult systems at an economic level, it is not bad in the same way the BTC and crypto represent money, which for them is high risk, but it is still money.
Bitconnect saw its stud days too and then crashed as well. It was promoted like anything specially among low income countries and became a very popular topic of discussion among the common users in the casino trollboxes too. Then there are these social media friend circles where such coins become circle jerk topics and then all buy it like anything.
Eventually they will all lose and the same cycle will repeat after a few years in another name and in another form. The winner is the person running these scams and not the investors. Chit funds and HYIPs/Ponzis exist in real life while LUNA exists in the internet. No difference between them at all.
Regulation will not stop such projects from being popular. If someone willingly wants to get scammed without doing research on the project they are investing in, why will the government force them to stop?
Eventually they will all lose and the same cycle will repeat after a few years in another name and in another form. The winner is the person running these scams and not the investors. Chit funds and HYIPs/Ponzis exist in real life while LUNA exists in the internet. No difference between them at all.
Regulation will not stop such projects from being popular. If someone willingly wants to get scammed without doing research on the project they are investing in, why will the government force them to stop?
That's certainly true, mate. Regulations won't stop scams from happening, but they will minimize their effect in the crypto/Blockchain industry. The more legislation we have towards crypto assets, the better it'll be for crypto/Blockchain tech's mainstream adoption. Remember that regulations bring investors' confidence into the crypto market. Without them, how do you think they'll pour money into unprotected crypto investments?
Unfortunately, Bitconnect, Terra/LUNA, and several other scams have scared away investors from the crypto/Blockchain space. But that doesn't mean it's the end of the world. Things will only get better over time as regulations are enforced. As long as individuals and governments work together, crypto won't be going anywhere soon. Just my thoughts
Talking about LUNA- how horrible mistake it was. . Once can definitely lose trust on coins if one is destroyed by Luna.
Never thought I would prefer govt regulation to crypto but this is it. Yes, we're in need of regulation of crypto so we can attract more hedge funds and investors to our crypto market. So we can see a new craze of net inflow of money into crypto instead stuck in the bear market like this.
It's time for cryptocurrencies to have strict and clear rules, it's been more than 10 years but cryptocurrencies don't have clear regulations yet, this certainly makes us worry about the future, as happened with LUNA which was previously ranked 10 with a price of more than $100 but only take a week to be under 1 cent.
You want regulations, or do you want centralization? What happened to Luna was a bad thing, but if you put governments on top of these projects with a justice hammer, then they will still fail if they are going to fail but now they will also be controlled by the government as well. We have fiat for that and we do not need anything else.Sure exchanges could be under control for example, because exchanges are corporations and they are not coins, and that is why they could be obliged to follow laws. But coins and tokens should be out of everyone's control, even the project creators should release it and then have as much power as we would, not anything more.
If we have government intervention then we are going to have to face the fact that some people will spend millions even maybe more than billions of dollars into those centralized and government controlled things and this would be end of decentralization in crypto as we know it.
Will there ever come a time that the government reaction to crypto will be encouraging for the people? Lately the head if international monetary fund Christine lagarde stated that regulatory action from the international community on crypto is inevitable ..what do you think
when that happens there are advantages and disadvantages I'm sure in that matter, I also know that many crypto enthusiasts favor that matter as well.
Moreover, other countries have also made cryptocurrency regulated, which means that many countries are gradually becoming aware of this type of digital currency industry.
If we hear regulations, we will think of rules that will create many limits, there is no more freedom so many developers and even exchange owners don't want to make regulations, and I think this is good, let the laws of nature work and we will see if cryptocurrencies will continue to grow .
The government can't regulate crypto but they will do everything to tax it. They could possibly control crypto in a certain country but they won't be able to take over and rule it. We have our freedom in the crypto world because of its decentralization. I hope the government won't take the hope of financial freedom in the future that we have.
the government can only regulate it on the outside, so it's useless if you want to take over,
we'll see what will be done later and just follow the progress
Bitconnect saw its stud days too and then crashed as well. It was promoted like anything specially among low income countries and became a very popular topic of discussion among the common users in the casino trollboxes too. Then there are these social media friend circles where such coins become circle jerk topics and then all buy it like anything.
Eventually they will all lose and the same cycle will repeat after a few years in another name and in another form. The winner is the person running these scams and not the investors. Chit funds and HYIPs/Ponzis exist in real life while LUNA exists in the internet. No difference between them at all.
Regulation will not stop such projects from being popular. If someone willingly wants to get scammed without doing research on the project they are investing in, why will the government force them to stop?
Eventually they will all lose and the same cycle will repeat after a few years in another name and in another form. The winner is the person running these scams and not the investors. Chit funds and HYIPs/Ponzis exist in real life while LUNA exists in the internet. No difference between them at all.
Regulation will not stop such projects from being popular. If someone willingly wants to get scammed without doing research on the project they are investing in, why will the government force them to stop?
That's certainly true, mate. Regulations won't stop scams from happening, but they will minimize their effect in the crypto/Blockchain industry. The more legislation we have towards crypto assets, the better it'll be for crypto/Blockchain tech's mainstream adoption. Remember that regulations bring investors' confidence into the crypto market. Without them, how do you think they'll pour money into unprotected crypto investments?
Unfortunately, Bitconnect, Terra/LUNA, and several other scams have scared away investors from the crypto/Blockchain space. But that doesn't mean it's the end of the world. Things will only get better over time as regulations are enforced. As long as individuals and governments work together, crypto won't be going anywhere soon. Just my thoughts
It's time for cryptocurrencies to have strict and clear rules, it's been more than 10 years but cryptocurrencies don't have clear regulations yet, this certainly makes us worry about the future, as happened with LUNA which was previously ranked 10 with a price of more than $100 but only take a week to be under 1 cent.
We really need some kind of system of rules that would restrict inexperienced investors from rash investments. The Luna situation happened because of the inexperience of the system, it happened even with tight regulation. If we hear regulations, we will think of rules that will create many limits, there is no more freedom so many developers and even exchange owners don't want to make regulations, and I think this is good, let the laws of nature work and we will see if cryptocurrencies will continue to grow .
The government can't regulate crypto but they will do everything to tax it. They could possibly control crypto in a certain country but they won't be able to take over and rule it. We have our freedom in the crypto world because of its decentralization. I hope the government won't take the hope of financial freedom in the future that we have.
Will there ever come a time that the government reaction to crypto will be encouraging for the people?
Yes that time is getting closer and approaching soon, there will be need arising whereby government itself will have no reason than to take cryptocurrency as an alternative and only available option to scale through economy challenges, many countries have in place suitable regulations on crypto to ride on a smooth surface, but they can't regulate bitcoin itself because of the decentralization but can regulate exchanges and miners by receiving tax from them.
If we hear regulations, we will think of rules that will create many limits, there is no more freedom so many developers and even exchange owners don't want to make regulations, and I think this is good, let the laws of nature work and we will see if cryptocurrencies will continue to grow .
I think it's normal and when we see it from your friend's point of view maybe we will also do the same thing,
no one thought something like that would happen to Luna because previously Luna's reputation could be said to be good and became the top coin,
but maybe your friend needs time to believe in crypto again
Many people comes in trouble due to natural disaster , diseases so it doesn't happen with crypto - the losses are through out.
It's time for cryptocurrencies to have strict and clear rules, it's been more than 10 years but cryptocurrencies don't have clear regulations yet, this certainly makes us worry about the future, as happened with LUNA which was previously ranked 10 with a price of more than $100 but only take a week to be under 1 cent.
Luna was a horrible mistake - Two of my friends made the same mistake and they have lost trust on crypto. They are not ready to invest in crypto ever again - they say they had no idea that they will end up in such disaster. But that is how gambling works.
no one thought something like that would happen to Luna because previously Luna's reputation could be said to be good and became the top coin,
but maybe your friend needs time to believe in crypto again
Luna was a horrible mistake - Two of my friends made the same mistake and they have lost trust on crypto.
They are not ready to invest in crypto ever again - they say they had no idea that they will end up in such disaster. But that is how gambling works.
Bitconnect saw its stud days too and then crashed as well. It was promoted like anything specially among low income countries and became a very popular topic of discussion among the common users in the casino trollboxes too. Then there are these social media friend circles where such coins become circle jerk topics and then all buy it like anything.They are not ready to invest in crypto ever again - they say they had no idea that they will end up in such disaster. But that is how gambling works.
Eventually they will all lose and the same cycle will repeat after a few years in another name and in another form. The winner is the person running these scams and not the investors. Chit funds and HYIPs/Ponzis exist in real life while LUNA exists in the internet. No difference between them at all.
Regulation will not stop such projects from being popular. If someone willingly wants to get scammed without doing research on the project they are investing in, why will the government force them to stop?
It's time for cryptocurrencies to have strict and clear rules, it's been more than 10 years but cryptocurrencies don't have clear regulations yet, this certainly makes us worry about the future, as happened with LUNA which was previously ranked 10 with a price of more than $100 but only take a week to be under 1 cent.
Couldn't agree more with you, mate. With strict and clear rules, the whole crypto/Blockchain space will be legitimized for mainstream use. Investors will feel confident in the crypto market, just like they're confident with the stock market today. With regulations, scams and theft are reduced to a minimum. We cannot say the same when there's absolutely no regulation at all (as it would enable full anarchy on the crypto/Blockchain space). While regulations cannot be enforced at the protocol level (due to crypto/Blockchain tech's decentralization), it's still possible to regulate the industry by requiring centralized exchanges and wallet providers to comply with the law. It's only been 13 years since Bitcoin inception's, yet there's no clear regulatory framework for the whole industry. At least, there's interest among institutional investors and mainstream governments to bring the rule of law into crypto/Blockchain tech. As long as individuals and governments cooperate, crypto won't be going anywhere soon. Just my opinion
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