Topic: We need regulation pretty bad - page 4. (Read 5575 times)
Your points are clear and concise, but regulations still has its bad side and not only the positive side. Regulations will obviously reduce scam and fakers without the capability to run a particular project, that's true. But also, regulations will drift further from decentralisation. Crypto enthusiasts always want regulations to come since scammers and impostors have taken advantage of crypto space with excellent whitepaper and hype. Unprofessional and scam team members just need to pay top influencers to create hype for their project, that's the sad reality. Sparkster for instance is an example of projects with hype but team without vision. Regulations might curb this a great deal but not entirely.
Regulations will not solve anything including scams. What we need is some serious security protocol that would detected dubious projects. It may not be available for now but someday and hopefully somehow, it would come to realization.
I’ll generally tell you so that we don’t need any regulation at all. Cryptocurrency is decentralized. Why does she need any regulators? It seems to me that this is all the influence of the government.
Regulation is for the protection of the investor, lol. No amount of regulatory oversight will stop scammers. In fact, the more heavily regulated a finance sector is, the more high profile the scammer becomes. In the forex market, banks colluded to manipulate the price. What did they get? Only fines.
Regulation only stifles the startup. It protects the status quo.
Regulation only stifles the startup. It protects the status quo.
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.
If regulation helps us to avoid scammers as well as unprofessional developers who often overestimate their strength, then I agree to regulation and even am ready to go through a small KYC with participation in each project. Provided that the developers of the project also provide their KYC.
The real deal is that investing in crypto is being experienced as sort of a gamble, so when crisis is looming, people withdraw their crypto investments and prepare their fiat cushions for possible fallout.
As centralized as it is, crypto depends heavily at this stage, especially since mining became out of the reach of normal people, on centralized exchanges that rely on stable fiat currency systems. Take that out of the equation and you are left with decentralized bytes that no one can turn into still needed real world money.
I am not saying here that when shit hits the fan locally (Venezuela), you cannot leverage crypto to stay out of the high water, just that global meltdown could make crypto business as hard to utilize as printed money.
As centralized as it is, crypto depends heavily at this stage, especially since mining became out of the reach of normal people, on centralized exchanges that rely on stable fiat currency systems. Take that out of the equation and you are left with decentralized bytes that no one can turn into still needed real world money.
I am not saying here that when shit hits the fan locally (Venezuela), you cannot leverage crypto to stay out of the high water, just that global meltdown could make crypto business as hard to utilize as printed money.
regulations won't make scamers stop cheating people, in my opinion the most important is the way you were before joining the project and also your accuracy in observing them, the advice I consider before making a decision. If you say the developer, of course, must examine it, including researching what experience has been done by the previous developer in managing the project.
We don't really need only "professionals". Afterall, Bitcoin wasn't invented by only the professionals. Am not sure if satoshi even qualifies as a Bitcoin or Blockchain professional. Most good developers in this space are not professionals in Blockchain coding.
Blockchain development need lots of creativity.. Creative minds are not always professionals.
Blockchain development need lots of creativity.. Creative minds are not always professionals.
But, do you agree that even professionals were being scammed? Even the educated and good developers are being trapped by scammers. The bottom line here is, regulated or unregulated system. Scammers will not gonna disappear. If money is involved, there they are hunting it. That's what cryptocurrency special, because of it's decentralized and unregulated system.
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.
Nonsense. Why do we need regulation? It will not somehow magically change things or stop scammers. Scammers scam it is what they do. It is peoples fault for feeding the scammers and that is why they come back.
You need to further explain this.
Cryptocurrencies is a new technology and the masses are grossly uneducated about its basics, that will change soon as adoption grows and the issue of scammers having it all easy will be drastically reduced. Regulation is not going to do much good. We are running from a corrupt centralized system to the safe haven in crypto, why spoil everything because of a problem that will naturally be wielded out. Weak projects by poor developers will die by natural selection
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'm pretty sure that you don't really understand the basic purpose of regulations of cryptocurrency. If you did, you wouldn't have made this post. This has nothing to do with regulation of cryptocurrency. Scammers can be found in every part of the world ecosystem and it is no surprise that there are scammers in the crypto space. You as an investor or crypto enthusiast should learn to research about any crypto project before investing in it. Even if the crypto space is regulated, there are still gonna be scammers to scam people who fail to understand certain specifics of a particular 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.
I agree partially, though we truly do need regulations but we don't need it that badly.
Regulations will to a large extent help reduce the level of fraudulent activities but it won't stop it totally.
If we accept regulations then the decentralized nature of the market would be at risk and that is the identity of cryptocurrency.
Regulations will to a large extent help reduce the level of fraudulent activities but it won't stop it totally.
If we accept regulations then the decentralized nature of the market would be at risk and that is the identity of cryptocurrency.
There are lots of reasons why we nerd to intensify our research more on the team of crypto projects, even if regulations are not in place to do that for you. The onus is on us as investors, to check, research and be able to analyze critically well, if a project is good for investment, by virtue of its team.
A developer who does not know about cryptocurrency and yet lunching a crypto project, is like a auto mechanic, claiming that he can treat a patient, suffering from an ailment. You know what the outcome will be.
A developer who does not know about cryptocurrency and yet lunching a crypto project, is like a auto mechanic, claiming that he can treat a patient, suffering from an ailment. You know what the outcome will be.
I was against regulation but after seing ico holders my thought changed.
Don't get me wrong, i don't want regulation against people like us. Ico holders should got regulated. They shouldn't have 5m $ and after 6 month, out of budget.
The regulators will not help the scammed investors for recovering their losses, the disadvantages of the regulation can destroy the true Satoshi vision. IEO projects almost decreased the scam rate of more than 70% in my opinion, the existence of strict rules will only bring less freedom for crypto investors. The true believers always choose the right path of the genuine influencers, other ways are not going to work in my humble opinion. Don't get me wrong, i don't want regulation against people like us. Ico holders should got regulated. They shouldn't have 5m $ and after 6 month, out of budget.
I would say our future depends on regulators. We all have long been clear that various States will not allow cryptocurrency in the financial sector if regulators do not make a positive decision. Have you noticed how long it takes to open BAKKT? I understand for sure that with the introduction of regulators, we will be able to reach a new level of blockchain progress.
Regulation will be detrimental to the crypto industry. And in order not to get into a scam, you need to devote more time to analyzing the project in which you plan to invest.
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.
Well, if only people were smart and did not fall for their trap....Listen, all those scam projects always have some sort of signs and signals that will always turn up the red flag. You just have to outsmart them and not fall for their scams. Regulations in crypto currencies will just be really a bad thing. Putting on regulation means, a third party will come and impose rules, laws and take over every decision according to their own will. Now if this happens, will crypto currencies remain decentralized? What do you think?
Its the same people who wants regulation on the open crypto markets. NO we don't!
I don't need uncle SAM to know what I'm trading, what I buy, or anything else for that matter. Bitcoin and crypto wasn't invented to regulate it, better buy stocks if you are in that belief!
Decentralized trading is gonna be huge soon, which is why I'm very excited to see Stakenet's Lightning DEX solution which will compete against against a LOT of other DEX solutions. It's gonna be superior in trading fees, speed, and liquidity, since it runs on Lightning through masternode lightning hubs.
Do your own research on this one, but this project aims to REMOVE all kinds of regulations from crypto, and will enhance BTC and LTC massviely with their dApps.
I don't need uncle SAM to know what I'm trading, what I buy, or anything else for that matter. Bitcoin and crypto wasn't invented to regulate it, better buy stocks if you are in that belief!
Decentralized trading is gonna be huge soon, which is why I'm very excited to see Stakenet's Lightning DEX solution which will compete against against a LOT of other DEX solutions. It's gonna be superior in trading fees, speed, and liquidity, since it runs on Lightning through masternode lightning hubs.
Do your own research on this one, but this project aims to REMOVE all kinds of regulations from crypto, and will enhance BTC and LTC massviely with their dApps.
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