Regulation seem like the only option left - page 2.

SirLancelot

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Quote from: Semar Mesem on June 24, 2022, 05:52:29 AM

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.

bitgov

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Quote from: Semar Mesem on June 24, 2022, 05:52:29 AM

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.

Semar Mesem

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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.

gunhell16

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Quote from: JangoUnchained on February 28, 2022, 01:56:58 AM

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.

so98nn

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Quote from: Wong Gendheng on April 07, 2022, 02:52:38 AM

The current marketcap of cryptocurrencies is more than $2 trillion and is unique because there is no regulation that regulates it, of course this is a serious problem for us, so there are always scam projects that are very detrimental to investors, without regulation then we walk without direction.

Why having market cap in trillions of dollars is problem for crypto? In fact I am putting it in exactly opposite way: having high market cap such as this makes me think there are big investors, huge support from all over the world for this. The network of crypto is wide spread and there is no kill switch for the same. At this point it’s impossible to turn it off but to continue the way it is. If government starts regulating it then there are many loop holes in the system. Peeps can simply buy and sell stuff online by using third party services and yet paying in the bitcoin. I see no issues so far.

goldkingcoiner

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Quote from: dataispower on June 23, 2022, 06:20:19 PM

Quote from: JangoUnchained on February 28, 2022, 01:56:58 AM

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

it's right because government don't have any way of obstructing cryptocurrency or regulate it value, because from what I'm noticing and observing for cryptocurrency government can not give any account of how cryptocurrency started and how the initiation come to passed, so i believed that Bitcoin regulates it value without any support from government and besides government hate cryptocurrency from the beginning

Exactly. The only form of "regulation" that governments have over Bitcoin or any crypto for that matter, is mere scare tactics. Don't do this and that or we will punish you. A lot of people do not understand that even if they knew who was behind the wallets, they would have an impossibly hard time punishing them by financial means. They would have to put everyone in prison. And even then they would not get their hands on their coins.

But lets say we made Bitcoin even more anonymous to the point where businesses could fully hide their transactions, funds, profits and so on. What exactly could the government hope to do? Force people to show them their wallets? They could easily make dummy wallets while hiding the real wallets.

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Quote from: add1ct3dd on June 23, 2022, 04:22:36 PM

People from the crypto space or normal people? From us here we can encourage it as long the reaction is positive like they can allow crypto from their own country but they can give conditions like they will regulate it. I think that was still fine since regulations do still have some positive effects like making those anonymous hackers/scammers being exposed or they can now be tracked easily, something like that.

For the normal types of people or those who aren't into cryptos I think they wont care about it but some of them will like it even more if crypto was not allowed on their country because they think it is just a scam or its a money used by the criminals.

Encouraging to get a positive reaction to government support to open decentralized transparency and give access to your wallet? then what is the difference with the CBDC which is now issued by the government if there is no purpose?
In fact, the government just wants to control your money and becomes an alibi for Bitcoin or crypto as a fraud nest label. For an irresponsible group of people, it is possible. But that's not entirely encouraging for adoption.

dataispower

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Quote from: JangoUnchained on February 28, 2022, 01:56:58 AM

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

it's right because government don't have any way of obstructing cryptocurrency or regulate it value, because from what I'm noticing and observing for cryptocurrency government can not give any account of how cryptocurrency started and how the initiation come to passed, so i believed that Bitcoin regulates it value without any support from government and besides government hate cryptocurrency from the beginning

carlfebz2

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Quote from: bitgov on June 23, 2022, 03:12:47 PM

Quote from: ?? on ??

With the current condition or has been running for more than 10 years, of course it is very difficult to make regulations, the presence of regulations will make boundaries and of course there are those who think that the regulation is to kill other projects, what is happening with cryptocurrencies is now good, natural law applies, Decentralization works well, what we do is invest in projects or coins that have the potential to skyrocket in the future.

Maybe in coming 30 years things will get better - but at the moment there are hardly any chance for the BTC to be regularized.
But the trends show that many be in coming time - it wll happen. And the world will be a different place altogether ...

Changes and development will really be that inevitable and this is something that cant really be stopped since innovation and changes will really be that next in line and same goes into this crypto market.

Speaking about regulation then we are really heading there but talking technically then this is something which cant be possible thats why the only thing that they could touched up is to those crypto centralized

platforms or companies which are regulated and this is the only way they could get involved with. For recognition and acceptance then it will really be normally coming as we do go ahead on future years to come.

add1ct3dd

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People from the crypto space or normal people? From us here we can encourage it as long the reaction is positive like they can allow crypto from their own country but they can give conditions like they will regulate it. I think that was still fine since regulations do still have some positive effects like making those anonymous hackers/scammers being exposed or they can now be tracked easily, something like that.

For the normal types of people or those who aren't into cryptos I think they wont care about it but some of them will like it even more if crypto was not allowed on their country because they think it is just a scam or its a money used by the criminals.

bitgov

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Quote from: ?? on ??

With the current condition or has been running for more than 10 years, of course it is very difficult to make regulations, the presence of regulations will make boundaries and of course there are those who think that the regulation is to kill other projects, what is happening with cryptocurrencies is now good, natural law applies, Decentralization works well, what we do is invest in projects or coins that have the potential to skyrocket in the future.

Maybe in coming 30 years things will get better - but at the moment there are hardly any chance for the BTC to be regularized.
But the trends show that many be in coming time - it wll happen. And the world will be a different place altogether ...

tygeade

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Quote from: Kadal Ijo on June 21, 2022, 06:17:02 AM

The thing that makes us uncomfortable when we want to invite friends or family investments in cryptocurrencies are too many scam projects, strict regulations must be made to prevent anyone to make cryptocurrencies from becoming a scammer, for example providing large amounts of money so as to reduce the number of scam projects.

What makes me uncomfortable when I invite them is the loss, nothing else. I warn them about it, but it is still a bad feeling, like right now there is one person who bought at 40k, and asked me before hand and I said to be careful but could be profitable, and now I am feeling guilty about it even though they do not mind and even consider buying another batch.

Scammers however are a thing to be worried about because the people we help could end up doing their own thing for a bigger gain, and could end up at the wrong hands and lose a ton of money. I do not know why they do that, but there are plenty of people who do that and it is a very risky thing.

Abiky

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Quote from: TheUltraElite on June 20, 2022, 10:24:52 AM

I dont think it will stifle development, it will rather channel the growth in the proper method. Without regulation it is like a child's playground which is bad for serious investors willing to make money and for the mainstream growth of this niche sector. If emerging scams end up shooing away potential investors, legit projects feel the heat too.

Only if regulations are flexible enough for crypto/Blockchain tech to flourish in the mainstream world. Too much regulations are bad for crypto in every sense. The same can be said if there were no regulations at all (which will enable anarchy in the crypto/Blockchain space). There needs to be a balance in order to prevent growth from stalling altogether. It seems like governments worldwide are embracing the revolution, so it's likely crypto will be here to stay for a very long time. As long as crypto's legitimate use cases are expanded, there should be nothing to worry about. Just my thoughts Grin

Kadal Ijo

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The thing that makes us uncomfortable when we want to invite friends or family investments in cryptocurrencies are too many scam projects, strict regulations must be made to prevent anyone to make cryptocurrencies from becoming a scammer, for example providing large amounts of money so as to reduce the number of scam projects.

sovie

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Quote from: TheUltraElite on June 20, 2022, 10:24:52 AM

Quote from: Abiky on June 19, 2022, 09:12:18 PM

With a proper regulatory environment, it may be possible to diminish (not eradicate) the number of scams in the crypto/Blockchain space.

It will curb the number of scams running in open air, while the bigger ones will go underground in the name of big risk big reward schemes. It will defenitely reduce the number of scams people have quick access to put a hand one while it gets slashed away.

Quote

As you've said before, the community is always active seeking out scams in order to prevent newbies from falling right into the trap.

Truely, I am thankful to this community for the efforts they put in, I try to contribute or support them whenever and in whatever method I can, from raising awareness to pointing out mistakes while supporting flags.

Quote

Without regulations, crypto will be the wild west. There needs to be law and order for crypto to flourish in the mainstream world. But I have to say that too much regulations will stifle the growth of the entire industry. As long as individuals and governments cooperate, there should be nothing to worry about. Just my opinion

I dont think it will stifle development, it will rather channel the growth in the proper method. Without regulation it is like a child's playground which is bad for serious investors willing to make money and for the mainstream growth of this niche sector. If emerging scams end up shooing away potential investors, legit projects feel the heat too.

Well I agree that there are many active discussion forums which help raise awareness and points out what mistakes are already been made.
Absolutely - that is correct.
And the best part is we get awareness and $$ at the same time . .

TheUltraElite

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Quote from: Abiky on June 19, 2022, 09:12:18 PM

With a proper regulatory environment, it may be possible to diminish (not eradicate) the number of scams in the crypto/Blockchain space.

It will curb the number of scams running in open air, while the bigger ones will go underground in the name of big risk big reward schemes. It will defenitely reduce the number of scams people have quick access to put a hand one while it gets slashed away.

Quote

As you've said before, the community is always active seeking out scams in order to prevent newbies from falling right into the trap.

Truely, I am thankful to this community for the efforts they put in, I try to contribute or support them whenever and in whatever method I can, from raising awareness to pointing out mistakes while supporting flags.

Quote

Without regulations, crypto will be the wild west. There needs to be law and order for crypto to flourish in the mainstream world. But I have to say that too much regulations will stifle the growth of the entire industry. As long as individuals and governments cooperate, there should be nothing to worry about. Just my opinion

I dont think it will stifle development, it will rather channel the growth in the proper method. Without regulation it is like a child's playground which is bad for serious investors willing to make money and for the mainstream growth of this niche sector. If emerging scams end up shooing away potential investors, legit projects feel the heat too.

DonaldRRR

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We need formal, encoded into law definitions of what a crypto asset is. The answer to this question directly determines the department of gov that has authority, will provide oversight and continue to formulate crypto regulation strategies.

bitgov

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Indeed proper regulation must be done. Regulations establish order so that a system can function more consistently, safely, with mostly predictable outcomes. This means that in a more controllable environment, cryptocurrencies can be seen as a normal, less volatile risk that can be managed with sophisticated technology and have better protection.

It is not as easy as we perceive. Why would the official regularize to give a control to other.
Crypto is not that protected though many wallets which got hacked and people lost so much money. Also Luna was such a disappointment. So we can not predict what is coming up next.

Abiky

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Quote from: TheUltraElite on April 25, 2022, 09:49:46 AM

How does a community stop scams from happening? They can attempt to prevent a scam but they do not have the legal power to punish or judge a scammer. This must be done in the traditional manner through law and court.

As far as this community goes, members are active in posting about any scams they come across and they get analyzed by others too. Beyond that you have to be your own boss here and learn to avoid scams. Regulation and its effect on scams is not available to us yet, so we cannot comment on that.

With a proper regulatory environment, it may be possible to diminish (not eradicate) the number of scams in the crypto/Blockchain space. As you've said before, the community is always active seeking out scams in order to prevent newbies from falling right into the trap. Without regulations, crypto will be the wild west. There needs to be law and order for crypto to flourish in the mainstream world. But I have to say that too much regulations will stifle the growth of the entire industry. As long as individuals and governments cooperate, there should be nothing to worry about. Just my opinion

TheUltraElite

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Quote from: Joshapat on April 14, 2022, 01:03:21 AM

Bitcoin marketcap is currently more than $800 billion and the total marketcap for cryptocurrencies is more than $4 trillion, which is unique because there are no rules regarding cryptocurrencies so the community must immediately make strict regulations so that they are not used for scams.

How does a community stop scams from happening? They can attempt to prevent a scam but they do not have the legal power to punish or judge a scammer. This must be done in the traditional manner through law and court.

As far as this community goes, members are active in posting about any scams they come across and they get analyzed by others too. Beyond that you have to be your own boss here and learn to avoid scams. Regulation and its effect on scams is not available to us yet, so we cannot comment on that.

Quote from: Sir Legend on April 15, 2022, 12:31:03 AM

Of course there will be differences of opinion about regulation, I think cryptocurrencies are unlimited freedom, nowadays it's easy to choose a good project or not because there are many ways to find out, and most importantly if there is regulation there will be many things that other users don't like, what is happening now is good and competition in the market is commonplace.

Not sure what you imply by "unlimited freedom" but in reality we are are bound by some rules of the land we live in. Being able to choose to invest in a project will be available post-regulation too, just that it might not be available in "white" markets and therefore you will be taking your own risk investing in it. Such things are already happening in many fiat markets, nothing new here.

Topic: Regulation seem like the only option left - page 2. (Read 1047 times)