Topic: This is how you get a Regulation in work - page 2. (Read 220 times)

Actually there are wallets that's are already regulated by the government. It may not be all countries have it but some already implemented it and it goes well with the users of the wallet. Though they will be having limited deposits on it, but it does not limit the inputs coming from the blockchain or from the external exchanges.

What do you mean by "open their data"?Do you mean ID verification?How can you force them to do that?
The plan you are writing about is impossible to be conducted,because it is against everything that cryptocurrencies represent-anonymous transactions,freedom from any transaction restrictions and free market environment.

What you are trying to point out is already taking place, but just in a slightly different manner. Important to understand is the fact that we aren't yet where governments think we should be at, in terms of regulations. Everything that happens right now is nothing more than governments testing out what works and what doesn't, where throughout the forthcoming months we'll see them adjust their regulations based on how this market grows and develops.

In order to properly regulate this market, governments first have to understand it, which isn't really the case right now, and that directly explains the frequent adjustments in regulations in basically every country. Even Japan is constantly adjusting itself in crypto terms. While people think Japan is quite a crypto friendly country, which it technically is, they will put extra pressure on everything crypto related in order to patch weaknesses in their regulatory framework. In other words, it will become less friendly overall the more Bitcoin and everything around it grows.

It's a process that will probably take years before it is properly shaped.

sanctioning will exist anyway, if no intitutional regulation there will be a regulation through the market and through crime.

with an institution however it would be an understandable regulation that everyone can view win.

What guarantees do people have that such a registry would be utilized for good instead of evil? Creating such a registry could only mean thieves and criminals would get a hold of the data and target those holding crypto en masse. It could make it easier for drug dealers, terrorists or those who launder money to target individuals holding crypto to blackmail or coerce them into participating in illegal schemes.

Also what guarantees do people have that the people running regulation will act responsibly for the good of all, rather than catering to special interests or specific demographics? Data by itself is harmless and innocent. But when the control of data is centralized within say a government it often means that state workers will sometimes act irresponsibly and make bad decisions. They might share information with corporations or others who will misuse the data.

There must be clearly defined and tangible advantages to utilizing this type of system, else it will often be a disadvantage. How does a registry improve things? Based on evidence we might conclude it would make things worse and is a bad system.

Many wrote that we need to regulate the global cryptomarket:

i know how to do this and i can explain it to you:


1. you need to create a registry where all cryptocurrency owners are being registered with their adress they must response with it, not just through its system but also physically, they should be findable, the adress list doesnt has to be public but the regulation authority must have them and regularily check check it.

2. you force them to show and open their data

3. you write and publish the regulation form, description and goals.

4. you create a global strike force or so called economic hitman to execute sanctions if a cryptocapitalists fails to achieve that regulation

or you create a rating agency similar like standards and poor. or a licensing system

5. you will have create an insitution that regulates cryptocurrencies.

-> all cryptocurrencies that follow that regulation are regulated, and under enforcment of that insitution.

regards

you see its actually possible to create a regulation if you can create an institution which is the equivalent of standards and poor. but for crypto and you get a global hitman in work.

for that you need good contacts either to interpol or to a global mercenary group. like blackwater. or those secretive agents/economic hitmans