Topic: We need regulation pretty bad - page 2. (Read 5575 times)
Regulations will only make progress and adoption more difficult. What we NEED is the free market to shake out all the fakes. This is going to happen asbtime progresses. Yes people will get burned in the process. Crypto is not something to walk in to and throw your life savings at withiut first doing all the research necessary to feel secure in what you're investing it. Don't by brands and charisma. Buy real potential.
Well regulation could heo but it has its own challenges which will play on the market. For instance government could outline the amount of trades or transactions that should be made daily by an individual this could stall the whole cryptocurrency space. If community members can come together to point these devs out it will be effective.
I think, regulations will not just solve our issues. You see, in a very well regulated systems like our Fiat systems where even though being tight, scams are pretty much happening over there also. People will find a way to be scammed and will always find a way to invest in some shit coins, through other means if not by the regular ones.
Indeed, regulations must be applied to minimize the scam project that all of us complain about, at least with the regulations made it will prove that if the developer is an expert in his field then he will get an official certificate which indeed will become a proof if the developer has a real product and will be consistent to build a project to achieve success.
It's expected that regulation will become more strict in the long run to prevent scams, we know even with regulation it cannot totally eliminate the scams but at least it will be minimize, it will make the market attractive. With KYC now as the basic requirement, we've already seen people complaining about this, how much more if there are more requirements in the future.
We actually have no choice but to fully adopt in this government regulation because this is only created for the good of the majority if not for everyone.
Indeed, regulations must be applied to minimize the scam project that all of us complain about, at least with the regulations made it will prove that if the developer is an expert in his field then he will get an official certificate which indeed will become a proof if the developer has a real product and will be consistent to build a project to achieve success.
Apart from scam artists in crypto space we have too many unprofessional developers that falsely act like they are really good in a particular field and try to build blockchain based projects but failed in the end,if there is really any way to make blockchain available to only professionals that are qualified it would have been a different story for crypto,even scammers wont have a chance,this is why i think we need REGULATIONS pretty bad.
I think it's impossible. Have you ever seen a profession where beginners are forbidden to try to create something?
We have seen a glimpse of hoe regulation would be, through some STOs, peradventure it is eventually sorted after as the way to of scam projects. Yes, there have been STOs, but so many of them have failed. Scammers have also used the opportunity to scam a lot of people. Which, means it is not the solution we are looking for. IEO which is nt under any form of government regulation is better of.
not pretty bad! though i do believe that regulation will be a big help.
YES, this regulation will make many countries accept the cryptocufrency not just on hteir country but most importnant is the acceptance of the local merchants.
YES, this regulation will make many countries accept the cryptocufrency not just on hteir country but most importnant is the acceptance of the local merchants.
Regulations can't solve the scams, even in regulated financial institutions, people are still scammed hugely. I think investors should learn to do research, avoid falling for conmen. Do not give out your money on hearsay.
Regulation might not be able to stop every scam out there in the crypto industry, but regulation will help to minimize to risks of scams and protect investors.
Scammers will only stop if we start learning how to manage our finances properly and not giving free money to those who are just waiting for scam opportunities. The government is full of regulations but still lot of different scams are still happening with its presence so for crypto, we don't need regulations anymore as it might only worsen the present scenario.
Nobody would want to deliberately give their money to scammers freely, it is in the process of trying to look for an investment to drop their money pending when they need it and believing that it would have multiplied by then that they act so, but the mistake that they do make is not to scrutinize any project that they want to invest in first before doing so, knowing fully well that we have the market snakes.I would not completely put blames on investors anyway because it is not really easy to spot out those bad project because every day they stay in crypto industry, they keep advancing just like those regulators too keeps advancing, which makes it difficult to tackle them, but it will still to an extent reduce the number of scam projects in the market if we get regulation.
It's understandable to think that regulations can serve as a panacea to the issue of scams on the cryptosphere, but I personally don't see regulation as a solution to the prevalence of scam. Even with the high level regulations placed by government authorities we still have to deal with scam cases, this leaves me with the realization that the only way by which scam can be curtailed is by individuals getting themselves more informed.
I think that you need to wait for regulation if you already have a very large number of bitcoins which is enough for a happy life, because if the regulators come, you will not be able to earn such easy money as now.
regulations cannot solve scam problems, because the many projects that are on the market make it difficult to know scam projects, regulations cannot completely solve scam problems because in the real world scams can still occur even though there are regulation and laws, Scam project problems can only be prevented by analyzing and researching the project
I think it is one of the right solutions to overcome all this, if only scammers can be eradicated then I am sure that good crypto prices like bitcoin will also soar because basically investors have high purchasing power but unfortunately they sometimes buy the wrong coins so the market loses its foundation, if the scammer does not exist anymore then the purchasing power of investors will be directed to the market again and of course this will make the market go green again but because investors always lose money because of the actions of scammers, then their purchasing power is low and makes them somewhat paranoid about new project
Apart from scam artists in crypto space we have too many unprofessional developers that falsely act like they are really good in a particular field and try to build blockchain based projects but failed in the end,if there is really any way to make blockchain available to only professionals that are qualified it would have been a different story for crypto,even scammers wont have a chance,this is why i think we need REGULATIONS pretty bad.
Many people will be against state regulation of the crypto market. It's like hackers giving the green light to assigning them regular numbers.
If you want to avoid scammers, it is better to come up with your own internal checks that new projects will have to go through, and this will help reduce the risk of fraud.
I am also suggesting an industry-wide self-regulation wherein a platform can be established manned by people who are into the blockchain and cryptocurrency that can help vet on different projects, platforms, products, services in making sure that they adhere to the standards that the industry will itself established. This in addition to limited regulations that the government will have to do and in case of a proven scam prosecution in the courts of law. Scamming will always be here as long as we are dealing with human beings as proven with our own human history...what we can do is make sure they are minimized to the very least possible.
I have been shouting since 2017 but only few cared
Until people go to jail for incompetence,scams and behaviors that cost investors a fortune,we will not grow
Until people go to jail for incompetence,scams and behaviors that cost investors a fortune,we will not grow
Apart from scam artists in crypto space we have too many unprofessional developers that falsely act like they are really good in a particular field and try to build blockchain based projects but failed in the end,if there is really any way to make blockchain available to only professionals that are qualified it would have been a different story for crypto,even scammers wont have a chance,this is why i think we need REGULATIONS pretty bad.
Many people will be against state regulation of the crypto market. It's like hackers giving the green light to assigning them regular numbers.
If you want to avoid scammers, it is better to come up with your own internal checks that new projects will have to go through, and this will help reduce the risk of fraud.
The thing that will really help us out in filtering the scams is our own brains and a little bit of common sense. You just need to ask people to do some research before investing their money into something, and not just blindly follow the scammers into their trap holes.
Apart from scam artists in crypto space we have too many unprofessional developers that falsely act like they are really good in a particular field and try to build blockchain based projects but failed in the end,if there is really any way to make blockchain available to only professionals that are qualified it would have been a different story for crypto,even scammers wont have a chance,this is why i think we need REGULATIONS pretty bad.
Regulations are needed but in my opinion regulations are limited in collecting funds or selling tokens. There is no guarantee that a project can produce a good product and be used by many people and I think it is difficult to manage the developer team must produce a good product in a regulation.
overall, of course there will always be blockhains, so in all likelihood that the determination of the crypto currency really will not be known at all in a statute, therefore the determination will always be a period of improvement.
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