They can pass a bill which restrict the platforms operating in their state should not allow any transaction via cryptocurrencies but they can't do anything beyond that, they can't stop bitcoin until there is no more internet in this world so these bills are suppressing its growth temporarily but in long term bitcoin broke all those barriers and made many countries to legalize it so don't worry about the future of Bitcoin.
But not every part of this world has internet so still it's not guarantee that those bills are effective in the end. Even now there is changes on how the countries approach crypto and what are their steps and plans towards it. 
Topic: Too many bills killing crypto (Read 310 times)
All it does is disincentivise the use of centralised services and, in turn, makes crypto more resilient. Let them have the low-hanging fruit. We'll adapt and become stronger for it. That's how survival-of-the-fittest works.
Protocols > Services
That's the direction we should be evolving towards. Build what they can't shut down.
Interestingly enough, the Survival of the fittest theory is that "The strong deserve success, and the weak deserve failure."Protocols > Services
That's the direction we should be evolving towards. Build what they can't shut down.
Bitcoin or cryptocurrency was able to survive until now from the onslaught of using centralized services.
But eventually, crypto became more resilient and kept pace with centralized services.
Those who have the power to regulate can't completely shut down decentralized services, they can't cover the part where we can't be regulated by anyone.
Crypto provides the freedom services need for those who don't want to be governed by anyone.
all the government needs to do now is support crypto and be able to coexist, but it still won't be able to control the crypto ecosystem.
freedom is everything.
For sure the government had been trying out their best on trying to get rid or shutting down crypto specially Bitcoin but still even on more than a decade, they do still fail on doing so.
Therefore, if you are really that a Bitcoin or crypto enthusiast on which despite of all the bills been passed and would be molded up in the future, fear not considering that there's no way
on making going to the ground. We would be still existing as long the demand and recognition by the community is there.
They can ban all they want and they could prohibit or restrict all they want but still it wouldnt really be enough for it to be completely stopped.
The trader of bitcoin and cryptocurrency are no need to worry for this bills.It may get into the law due to some force from the capitalist of United States.The reason for the Senate against the crypto currency and specially bitcoin due to the decentralisation concept.It also the advance of the people earn good money as profit with some period.The Senate fear of the decentralisation crypto currency bitcoin will ruin the economy of United States based on their opinion.Like wise the Russian are against the cryptocurrency before and now the crypto currency was used by the Russian government for their international transactions.
They can pass a bill which restrict the platforms operating in their state should not allow any transaction via cryptocurrencies but they can't do anything beyond that, they can't stop bitcoin until there is no more internet in this world so these bills are suppressing its growth temporarily but in long term bitcoin broke all those barriers and made many countries to legalize it so don't worry about the future of Bitcoin.
Indeed, the regulation of cryptocurrency can lead to a change in its status and degradation of decentralization, which is one of the main principles of cryptocurrency. However, some form of regulation may be necessary to protect investors and prevent cybercrime. In addition, the US government may be forced to pass laws and regulations if cryptocurrency becomes a mass medium of exchange or payment system.
In any case, the decision on how to regulate cryptocurrencies should be taken after careful discussion and consultation with all stakeholders, including representatives of the crypto community. If the U.S. government decides to regulate cryptocurrencies, it must be done in a way that respects its characteristics and principles of decentralization in order to preserve its value and independence.
In any case, the decision on how to regulate cryptocurrencies should be taken after careful discussion and consultation with all stakeholders, including representatives of the crypto community. If the U.S. government decides to regulate cryptocurrencies, it must be done in a way that respects its characteristics and principles of decentralization in order to preserve its value and independence.
Cryptocurrency has made the impossible possible in people's lives. There is no person in the world who does not have a dream. At present, fulfilling dreams has become one of the goals of human life. So there is a lot of evidence that people have been able to fulfill many of their dreams through crypto and bitcoin. I myself have been able to fulfill many of my dreams through cryptocurrency. You really said bitcoin holdings have taken people too far.Because there are good benefits in holding Bitcoin.
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Not sure why people think that passing a negative bill in the US will impact cryptocurrency in a big way! Come on! The US doesn't represent the entire world! So any US law that is unfavorable to cryptos will impact the crypto market in the US only. period. SEC has waged a war against crypto and they have a very strong lobby in the government. So it's highly unlikely that the US will change its outlook towards crypto drastically.
But look at the other countries, please. Singapore is a very crypto-friendly nation. Also doing business in Singapore is far more easier than in many other countries. Taiwan has announced that they are bringing crypto-friendly laws so that crypto businesses can flourish in their country. Let's talk about such positive things. US doesn't represent the world and its mentality. It's just a wealthy country and the impact on crypto market is limited.
But look at the other countries, please. Singapore is a very crypto-friendly nation. Also doing business in Singapore is far more easier than in many other countries. Taiwan has announced that they are bringing crypto-friendly laws so that crypto businesses can flourish in their country. Let's talk about such positive things. US doesn't represent the world and its mentality. It's just a wealthy country and the impact on crypto market is limited.
Because people are crazy about the US, and they always see the US as the leader, the sole ruler of our world. I support your thinking, the United States is also a country among two hundred other countries in the world. If they don't take cryptocurrencies seriously, that doesn't mean other countries will do the same.
But the US is undeniably the most influential country in the world, if they have a negative view of crypto, it will be a big challenge for us. But we will soon get over it, the same way we left China behind. We are never dependent on any country.
The country is trying to play smart and also to prevent its citizens and economy from attacks.
For cryptocurrency to be acceptable in countries, compromises have to be reached else, the efforts will be frustrated. I want to believe that a country like the USA would have done its due diligence and want to leverage on the positives.
For cryptocurrency to be acceptable in countries, compromises have to be reached else, the efforts will be frustrated. I want to believe that a country like the USA would have done its due diligence and want to leverage on the positives.
All it does is disincentivise the use of centralised services and, in turn, makes crypto more resilient. Let them have the low-hanging fruit. We'll adapt and become stronger for it. That's how survival-of-the-fittest works.
Protocols > Services
That's the direction we should be evolving towards. Build what they can't shut down.
Interestingly enough, the Survival of the fittest theory is that "The strong deserve success, and the weak deserve failure."Protocols > Services
That's the direction we should be evolving towards. Build what they can't shut down.
Bitcoin or cryptocurrency was able to survive until now from the onslaught of using centralized services.
But eventually, crypto became more resilient and kept pace with centralized services.
Those who have the power to regulate can't completely shut down decentralized services, they can't cover the part where we can't be regulated by anyone.
Crypto provides the freedom services need for those who don't want to be governed by anyone.
all the government needs to do now is support crypto and be able to coexist, but it still won't be able to control the crypto ecosystem.
freedom is everything.
now is not the time to fight against the crypto world because everyone already knows how bitcoin and other altcoins work, but now the government must support the crypto world because I am sure that it will help the economy of the people in a country, if you want to eradicate the crypto world it is a mistake that must be made made by the US House of Representatives and senate because for me there are other more important issues for them to discuss for the development of their country and I'm sure the public will not accept if there is a big threat to the crypto world.
Regulating crypto? Ha! Best of luck. It's like bossing around the weather, or the tides, or my kitty's hairball drama - some things are just untameable. But legit, I know security and oversight matter, but it's like the government doesn't get crypto's vibe. It's supposed to be a free-for-all, empowering folks and their communities.
If the powers-that-be clamp down too hard, they'll risk snuffing out what makes it special. It's like strapping a leash on a cheetah - okay, you might hold it back for a bit, but eventually, it's gonna bust loose and go wild.
If the powers-that-be clamp down too hard, they'll risk snuffing out what makes it special. It's like strapping a leash on a cheetah - okay, you might hold it back for a bit, but eventually, it's gonna bust loose and go wild.
It is anticipated that the government would establish boundaries and rules to prevent certain criminal behaviors like money laundering and the financing of terrorism as Bitcoin lacks a centralized authority and is therefore difficult for them to control. We all know that the blockchain will remain decentralized despite these restrictions, despite the best efforts of the government to consolidate or control it.
All it does is disincentivise the use of centralised services and, in turn, makes crypto more resilient. Let them have the low-hanging fruit. We'll adapt and become stronger for it. That's how survival-of-the-fittest works.
Protocols > Services
That's the direction we should be evolving towards. Build what they can't shut down.
Protocols > Services
That's the direction we should be evolving towards. Build what they can't shut down.
Interesting to know how they will be able to do it that only the centralized wallet will be able to make trasanctions. There will be less freedom on that. The law makers are just listening to one side in creatiing such law.
But what can make them force users to use decentralized wallets?
None, that's why crypto becomes popular since it gives freedom for it's user to use or have their money in any investment they wanted to put it, however due to the facts that some projects tends to be a scam governments seek ways to prevent or scare scammers though with this action they tend to put more fees and regulations to monitor people's money as well to get crypto investors money thru implementing laws and adding fees and bills.
The US government has been saying crypto regulations for a long period of time, with tasks been paying for any transactions, which has not yet implement, but rather fixing meeting time to time saying about crypto, while time is going and it really clear that government officials can not stop cryptocurrency, because cryptocurrency is build beyond their limit by having control over crypto and besides cryptocurrency are seriously spreading across the globe as a means of payment, trading and investment as it may applied.
The USA has been pretty harsh toward cryptos for many years when it comes to regulations and the lack of a crypto-friendly environment (excluding some states that introduced their own ways of promoting crypto adoption). Thus, it's not very surprising if they introduce restrictions with the new bill. That being said, the article mentions that efforts to pass crypto bills have been futile so far, so maybe it won't become a law after all. Also, there isn't enough information in the article to understand what sort of restrictions the bill might introduce, as it's only vaguely said that the government should study the usage of cryptos for illegal activities and provide guidance. Who knows, maybe if they really study the usage, they will realize it's not what defines cryptos and that fiat is used for illegal activities in similar ways.
Not sure why people think that passing a negative bill in the US will impact cryptocurrency in a big way! Come on! The US doesn't represent the entire world! So any US law that is unfavorable to cryptos will impact the crypto market in the US only. period. SEC has waged a war against crypto and they have a very strong lobby in the government. So it's highly unlikely that the US will change its outlook towards crypto drastically.
But look at the other countries, please. Singapore is a very crypto-friendly nation. Also doing business in Singapore is far more easier than in many other countries. Taiwan has announced that they are bringing crypto-friendly laws so that crypto businesses can flourish in their country. Let's talk about such positive things. US doesn't represent the world and its mentality. It's just a wealthy country and the impact on crypto market is limited.
But look at the other countries, please. Singapore is a very crypto-friendly nation. Also doing business in Singapore is far more easier than in many other countries. Taiwan has announced that they are bringing crypto-friendly laws so that crypto businesses can flourish in their country. Let's talk about such positive things. US doesn't represent the world and its mentality. It's just a wealthy country and the impact on crypto market is limited.
If they did not or were not able to kill Bitcoin and cryptocurrency market in 2009 or a few years later when this ecosystem was very small and more easily to be eliminated, how will they succeed now and in future?
exactly, in my sight, if one bill is against crypto then not all political leaders are in support of it because they are using it in their own favors, we have seen many cases the recent one is Gary Gensler who talked about algorand in a public meeting which seems to be manipulation for What? of course to gain money. There are hell lot of cases in which one political leader is using such bills to gain the trust of the public who is against crypto just like the woman who stands for the new senator in Bay City. Where she made her anti-crypto army by gaining the trust of regional citizens.
If they did not or were not able to kill Bitcoin and cryptocurrency market in 2009 or a few years later when this ecosystem was very small and more easily to be eliminated, how will they succeed now and in future?
This ecosystem has become bigger considerably in the last few years and it has invaded into traditional finance markets as well as politics. I believe it has reached to a point to exist forever and it won't be eliminated by any bill, dozen of bills, a single country or many countries.
Bills are not bad and some bills might have positive contribution for cryptocurrency ecosystem. I know if you think negatively, you will always see the world like this and future for cryptocurrency like this.
This ecosystem has become bigger considerably in the last few years and it has invaded into traditional finance markets as well as politics. I believe it has reached to a point to exist forever and it won't be eliminated by any bill, dozen of bills, a single country or many countries.
Bills are not bad and some bills might have positive contribution for cryptocurrency ecosystem. I know if you think negatively, you will always see the world like this and future for cryptocurrency like this.
They don't have to kill it. If they can force law abiding citizens to jump through hoops with a convoluted regulatory framework, then their goal has been accomplished. The natural tendency would be for less usage by the general public.
The U.S. house is controlled by the so called "fiscal conservatives" and it's a bit surprising to see bipartisan support for a crypto regulation bill. Sure, not all bills are bad. But do you trust the government to enact reasonable regulations pertaining to crypto? You give them even the slightest amount of leeway, and they will take it all plus more. Never depend on people who couldn't even define what crypto currency is to introduce regulations.
I think it is very clear that we have moved on from the "laugh at you" stage to the "fight you" stage. As we all know, this is the final battle before we win. Regulation is coming, lines will be drawn, people will choose sides, but ultimately the technology behind Bitcoin and those willing to do what is right will prove to be an unstoppable force. Bitcoin is going to be used in the future by lots of people for lots of things and no amount of posturing is going to stop that. Politicians have no idea what they're doing, so regulation will seem stupid. Eventually common sense will prevail though. We're in the thick of it now. Buckle up.
I have no doubt that blockchain will still prevail in the end, but that doesn't mean those who are using it like us are not on the pinch. Since the regulation is on the way, most wallet providers will be monitored by the authorities, and in the end they will impose whatever laws they can come up as long as they can still monitor those who are using their platforms. For me living in a third world countries, we don't have much choice but to obey mostly what our authorities are going to regulate, though as of now they are still on the neutral stance regarding crypto, we don't know what will happen in the future. So as of now we are still enjoying the benefits while still not crossing the line. legendary
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This has been discussed and discussed again.
It's happening and despite a lot of people complaining about it in the end although it will just about kill privacy and bring on more taxes since you would not be able to hide. It will probably cause a major run up in crypto price.
It's happening and despite a lot of people complaining about it in the end although it will just about kill privacy and bring on more taxes since you would not be able to hide. It will probably cause a major run up in crypto price.
This is already happening in the EU. In Spain a few days ago a bill came into force that kills privacy (all transactions have to be reported, both by companies and individuals), and the EU with the MICA regulation is going the same way. The aim, apart from having everything under control, is to collect taxes, as you say.
The only thing missing is the price increase, hopefully.
I think it is very clear that we have moved on from the "laugh at you" stage to the "fight you" stage.
We have been in the fighting stage for a long time, the only thing that is changing is them making the fight public while trying to increase their efforts.I also can't help but see the direct correlation between US dollar being abandoned globally and the sudden change in stance towards bitcoin which became increasingly aggressive. I wouldn't be surprised to see US do the same thing China did and start banning exchanges first, miners second and maybe even take one step further and ban usage of bitcoin too.
If you are a cryptoanarchist cypherpunk libertarian sovereign citizen, it won't affect you, because you are not supposed to use centralized platforms that follow regulations. And of you course you are in only for the tech and don't care if Bitcoin is worth $100 or $100,000.
The most affected category of users will be the investors who want to just make profit and don't pay taxes - they will lose convenience of using centralized exchanges that seamlessly send money to their bank account and will have to look for alternative solutions.
The most affected category of users will be the investors who want to just make profit and don't pay taxes - they will lose convenience of using centralized exchanges that seamlessly send money to their bank account and will have to look for alternative solutions.
Bitcoin is bigger than regulation,the government thinks that with regulation,they will benefit more for themselves. The government are only after controversy of its citizen financial life that is why they want only a centralized platform to be in use so that they can gain from taxes and also monitor users transactions.
Bitcoin has struggled to the extent making it impossible to be controlled by the government because of its nature of decentralization. Therefore, the government will only monitor those who uses a centralized exchange and not those who uses p2p for transaction because it is impossible. Privacy is one of the creation of bitcoin and that can't be deprived by the government. Bitcoin is far beyond whatever the government is thinking of coming up with. If they are sick of bitcoin adoption in the US,let them come openly to say it.
Bitcoin has struggled to the extent making it impossible to be controlled by the government because of its nature of decentralization. Therefore, the government will only monitor those who uses a centralized exchange and not those who uses p2p for transaction because it is impossible. Privacy is one of the creation of bitcoin and that can't be deprived by the government. Bitcoin is far beyond whatever the government is thinking of coming up with. If they are sick of bitcoin adoption in the US,let them come openly to say it.
Many countries are trying to regulate Crypto including BTC. The most active among them are Us, Some European countries and India. Us is the most dangerous one amongst all them. Personally i think it will not happen soon but the way they trying and introducing bill again and again they will take some action. People interest towards crypto is increasing every single days and its now impossible to completely banned crypto and the only way to kill crypto is make it centralized.
If they succeed in their mission then BTC and other crypto will be same like other stock market and we will not see big gains like before. We have two years or more before regulations to earn as much as from crypto. after regulation high pump seen will be totally over.
If they succeed in their mission then BTC and other crypto will be same like other stock market and we will not see big gains like before. We have two years or more before regulations to earn as much as from crypto. after regulation high pump seen will be totally over.
If you look at this situation, people want their government to accept the crypto market.
And this move is actually trying to accept crypto particularly BTC in their financial system.
So for me, it is not killing crypto but trying to regulate the usage of btc, hence, the adoption.
These people for sure will do their due diligence before implementing something, they won't implement without studying the given market.
They will know the sentiments of people because in today's generation, they can basically read such sentiments over social media channels.
If the worst has come to them that are using bitcoin in USA, they should use p2p instead of exchange. Because it is only exchange they can tax and not the p2p. And whatever they are doing to kill bitcoin can not work for them again. Unless the only thing they can do to stop bitcoin is for them to control the entire blockchain plus all the wallets. If not they are just wasting their time with their careless laws.
Many countries are trying to regulate Crypto including BTC. The most active among them are Us, Some European countries and India. Us is the most dangerous one amongst all them. Personally i think it will not happen soon but the way they trying and introducing bill again and again they will take some action. People interest towards crypto is increasing every single days and its now impossible to completely banned crypto and the only way to kill crypto is make it centralized.
If they succeed in their mission then BTC and other crypto will be same like other stock market and we will not see big gains like before. We have two years or more before regulations to earn as much as from crypto. after regulation high pump seen will be totally over.
If they succeed in their mission then BTC and other crypto will be same like other stock market and we will not see big gains like before. We have two years or more before regulations to earn as much as from crypto. after regulation high pump seen will be totally over.
The point of the bills is to further discourage massive influx into crypto currency and a total abandonment of the legal tender of such a country as one lives in.
It is to ensure scammers or hackers know there are some agencies as well as new ways to checkmate their scam theatrics and gimmick.
The bill is also to chock crypto into yielding to CBDC as the future of money and not the former.
It is to ensure scammers or hackers know there are some agencies as well as new ways to checkmate their scam theatrics and gimmick.
The bill is also to chock crypto into yielding to CBDC as the future of money and not the former.
It's all lies how they're selling it to the community.
-We just want to help,
-we want to stop these scammers
-we want to stop drugs
-we want to help you defend against fraud an d all that
It's all one big lie. They don't want to help you, they couldn't care less about you. All these attacks have one goal: slowing down bitcoin adoption. All the government wants is to stay in power and it's going to do it through whatever means necessary. It can be with the help of CBDC, through crypto regulations, it doesn't matter. What matters is that you cannot control your own money and they can make you obey by blocking your accounts, the way Trudeau did in Canada.
-We just want to help,
-we want to stop these scammers
-we want to stop drugs
-we want to help you defend against fraud an d all that
It's all one big lie. They don't want to help you, they couldn't care less about you. All these attacks have one goal: slowing down bitcoin adoption. All the government wants is to stay in power and it's going to do it through whatever means necessary. It can be with the help of CBDC, through crypto regulations, it doesn't matter. What matters is that you cannot control your own money and they can make you obey by blocking your accounts, the way Trudeau did in Canada.
There is no doubt that government will create bills on cryptocurrency usage that is favorable to the control of the government. We as cryptocurrency users may not like it but we can do nothing about it. It is also one of the compromises the crypto industry has to give in order for the government to allow cryptocurrency to exist in their territory.
Aside from that, Bitcoin without a centralized government is somehow hard to control for the government so it is expected that they will set borderlines and regulations to avoid certain criminal acts such as money laundering or terrorist financing. But even with these government regulations, we all know that the blockchain itself will continue to be decentralized no matter how hard the effort of government to centralize or control it.
Governments are not really doing anything we did not expected out of them, they see in this market a threat but at the same time they want to extract taxes out of it, so they are passing laws that are extremely favorable to themselves, but will people obey them? That is what is not so clear, if you have to report even buying a cup of coffee to the taxman then people will simply stop using bitcoin for such small purchases and will instead hold their coins, and if it comes a time in which governments lose control of their economies then the desire to follow those misguided regulations will go down even further. Aside from that, Bitcoin without a centralized government is somehow hard to control for the government so it is expected that they will set borderlines and regulations to avoid certain criminal acts such as money laundering or terrorist financing. But even with these government regulations, we all know that the blockchain itself will continue to be decentralized no matter how hard the effort of government to centralize or control it.
If the states don't want to have the crypto industry then the industry will go elsewhere.
The crypto industry is actually the middlemen crypto is made against.
The crypto industry is actually the middlemen crypto is made against.
Interesting to know how they will be able to do it that only the centralized wallet will be able to make trasanctions. There will be less freedom on that. The law makers are just listening to one side in creatiing such law.
But what can make them force users to use decentralized wallets?
There is no doubt that government will create bills on cryptocurrency usage that is favorable to the control of the government. We as cryptocurrency users may not like it but we can do nothing about it. It is also one of the compromises the crypto industry has to give in order for the government to allow cryptocurrency to exist in their territory.
Aside from that, Bitcoin without a centralized government is somehow hard to control for the government so it is expected that they will set borderlines and regulations to avoid certain criminal acts such as money laundering or terrorist financing. But even with these government regulations, we all know that the blockchain itself will continue to be decentralized no matter how hard the effort of government to centralize or control it.
Aside from that, Bitcoin without a centralized government is somehow hard to control for the government so it is expected that they will set borderlines and regulations to avoid certain criminal acts such as money laundering or terrorist financing. But even with these government regulations, we all know that the blockchain itself will continue to be decentralized no matter how hard the effort of government to centralize or control it.
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The US House and Senate moves closer on crypto regulation in the US, a step I perceived as desperate and can't be crypto friendly.
If want the government to somehow support cryptocurrency then regulation is something we must welcome and it's not that their regulation plan will regulate crypto per se what they want to regulate is Centralized platform that's dealing with crypto-related business. The US House and Senate moves closer on crypto regulation in the US, a step I perceived as desperate and can't be crypto friendly.
The confidence surprised me, but the more fear is futuristic in that any careless bill passed by the House and Senate could be an excuse for other countries and might be reducing the independence of cryptocurrency more than how it is.
No bill passed by the House will reduce the liberation of decentralized coins like Bitcoin crypto enthusiasts will just switch to the next alternative. An example is what happened in China and some of Africa.decentralization system may blind them but can not be transacted only by self-custody wallets that can help that, the centralized system will keep it better lively as it is and will be infringed upon by the US legislature decision.
There's always a solution to everything but I wonder why you believe that only the centralized system will keep Bitcoin better lively when everything started from DEX and Bitcoin was lively then.They claim it will target Security concern and Cybercrime, I don't have problem with that. I know when they get away with this, it will not end there, they will pass another stiffer bills in the future and will gradually be weakening cryptocurrency status.
If we're talking about decentralized crypto the government can not weaken it and they already have enough problems than focusing on weakening the crypto market. They are just addicted to power to control people or settings and the worse thing they will do with their regulation is restrict, limit, and possibly huge tax on crypto.
There you go, “it’s concern of security and cybercrime”. Yeah why not, whenever government does not find any flaw they would just put it on its security and would give public sentiments like we are passing xyz bill for the financial safety of our nation.
We are definitely not having sound minded peeps in the SEC as well. I don’t understand how they could not decide a binary question-answer of yes or no with ease? What is wrong with the system is they do not want overshadow of bitcoin thus crumbling the governments all around the world due to decentralisation.
There are many middle points through which bills can be passed where both parties would be ok to accept the terms. However, government understand they will lose half of the controlling power in the process.
I don’t know, but there seems even larger support to government from billionaires as well. Everything is conspired about the Bitcoin since it got bigger and bigger.
We are definitely not having sound minded peeps in the SEC as well. I don’t understand how they could not decide a binary question-answer of yes or no with ease? What is wrong with the system is they do not want overshadow of bitcoin thus crumbling the governments all around the world due to decentralisation.
There are many middle points through which bills can be passed where both parties would be ok to accept the terms. However, government understand they will lose half of the controlling power in the process.
I don’t know, but there seems even larger support to government from billionaires as well. Everything is conspired about the Bitcoin since it got bigger and bigger.
If they did not or were not able to kill Bitcoin and cryptocurrency market in 2009 or a few years later when this ecosystem was very small and more easily to be eliminated, how will they succeed now and in future?
This ecosystem has become bigger considerably in the last few years and it has invaded into traditional finance markets as well as politics. I believe it has reached to a point to exist forever and it won't be eliminated by any bill, dozen of bills, a single country or many countries.
Bills are not bad and some bills might have positive contribution for cryptocurrency ecosystem. I know if you think negatively, you will always see the world like this and future for cryptocurrency like this.
This ecosystem has become bigger considerably in the last few years and it has invaded into traditional finance markets as well as politics. I believe it has reached to a point to exist forever and it won't be eliminated by any bill, dozen of bills, a single country or many countries.
Bills are not bad and some bills might have positive contribution for cryptocurrency ecosystem. I know if you think negatively, you will always see the world like this and future for cryptocurrency like this.
I think it is very clear that we have moved on from the "laugh at you" stage to the "fight you" stage. As we all know, this is the final battle before we win. Regulation is coming, lines will be drawn, people will choose sides, but ultimately the technology behind Bitcoin and those willing to do what is right will prove to be an unstoppable force. Bitcoin is going to be used in the future by lots of people for lots of things and no amount of posturing is going to stop that. Politicians have no idea what they're doing, so regulation will seem stupid. Eventually common sense will prevail though. We're in the thick of it now. Buckle up.
This has been discussed and discussed again.
It's happening and despite a lot of people complaining about it in the end although it will just about kill privacy and bring on more taxes since you would not be able to hide. It will probably cause a major run up in crypto price.
There are a lot of people who will not invest now because of the wide open nature of crypto and they are a bit risk adverse. Give them some stability and they will buy.
There are a lot of institutions that want to invest but their risk management department will not let them. Give them more rules and guides and they will invest.
And so on.
The people who want their privacy will either adapt or leave. But, more then likely for every 1 person that leaves 10 will come in. And that is a conservative number from what opinion polls and research have been saying.
-Dave
It's happening and despite a lot of people complaining about it in the end although it will just about kill privacy and bring on more taxes since you would not be able to hide. It will probably cause a major run up in crypto price.
There are a lot of people who will not invest now because of the wide open nature of crypto and they are a bit risk adverse. Give them some stability and they will buy.
There are a lot of institutions that want to invest but their risk management department will not let them. Give them more rules and guides and they will invest.
And so on.
The people who want their privacy will either adapt or leave. But, more then likely for every 1 person that leaves 10 will come in. And that is a conservative number from what opinion polls and research have been saying.
-Dave
Source: https://www.coindesk.com/policy/2023/04/28/us-house-will-have-crypto-bill-in-2-months-mchenry/
The US House and Senate moves closer on crypto regulation in the US, a step I perceived as desperate and can't be crypto friendly. The two chambers are not taking crypto bills lightly, in 2 months they should pass a bill, they are coming up with ideas upon ideas but in any way should the ideas be anti-people, the US will resist it. Rep. Patrick McHenry, chairman of the House Financial Services Committee confidently gave a yes reply when asked if the US president would sign the bill within a year.
The confidence surprised me, but the more fear is futuristic in that any careless bill passed by the House and Senate could be an excuse for other countries and might be reducing the independence of cryptocurrency more than how it is.
Bitcoin decentralization system may blind them but can not be transacted only by self-custody wallets that can help that, the centralized system will keep it better lively as it is and will be infringed upon by the US legislature decision.
They claim it will target Security concern and Cybercrime, I don't have problem with that. I know when they get away with this, it will not end there, they will pass another stiffer bills in the future and will gradually be weakening cryptocurrency status.
The US House and Senate moves closer on crypto regulation in the US, a step I perceived as desperate and can't be crypto friendly. The two chambers are not taking crypto bills lightly, in 2 months they should pass a bill, they are coming up with ideas upon ideas but in any way should the ideas be anti-people, the US will resist it. Rep. Patrick McHenry, chairman of the House Financial Services Committee confidently gave a yes reply when asked if the US president would sign the bill within a year.
The confidence surprised me, but the more fear is futuristic in that any careless bill passed by the House and Senate could be an excuse for other countries and might be reducing the independence of cryptocurrency more than how it is.
Bitcoin decentralization system may blind them but can not be transacted only by self-custody wallets that can help that, the centralized system will keep it better lively as it is and will be infringed upon by the US legislature decision.
They claim it will target Security concern and Cybercrime, I don't have problem with that. I know when they get away with this, it will not end there, they will pass another stiffer bills in the future and will gradually be weakening cryptocurrency status.
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