We're like this because of decentralization and no regulation?

iconoclast

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Quote from: ghermghuda on September 19, 2018, 10:49:07 AM

It seems human nature has been one of the most complex things to study. Dating back to the B.C era, it seems whenever there was no law, regulation or control, humanity got lost.

Cryptocurrency and blockchain were invented for a good cause but it seems some bad nuts amongst us killed the dream. What do we see now, manipulation upon manipulation, scam, fraud and a whole lot of bad things. People are therefore loosing trust and leaving, and that's probably because no one regulates and so you can do whatever you want.

So my question is, should crypto get regulated would things get better? and also do we actually need to decentralize power and give ourselves the control?

I would say no, I firmly believe that every problem has a solution and every solution has the possibilty to become a business. We are now seeing the emergence of solutions to the fraud issues with the establishment of projects designed to provide investors with objective investment research. We are also seeing the exchanges themselves seeing the possiblity to run the ICO's themselves which also means that there will be a professional due diligence process involved. We are in the early days but I am optomistic that trusted players will be able to create lucrative businesses by providing the due diligence that some investors seem incapable of doing themselves.

ghermghuda

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Quote from: KimJonnan on September 20, 2018, 01:20:07 AM

I think regulation can only be used for ICO project issuance. Nothing else can be regulated. If Bitcoin is regulated, then Bitcoin will lose expensive prices. The biggest point of cryptocurrency is that it does not accept regulation. But ICO needs to be regulated.

I do agree with you buddy. We seriously need a regulation to be set for ICOs and I think that's what they've been yearning for recently (investors and lare institutions). The fact is that te scan have been increasing fornanlong time and so setting appropriate regulation will be the best solution for now.

Adebits

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The truth is that human systems can not be perfect and the imperfections in them are the reasons for continuing innovative breakthroughs. What am trying to point out is with regulation or no regulation, there will still be incident of frauds, manipulations, scams and many more but what regulations will effectively do is to build trust for the industry and makes people see it as conventional industry which they can be part of.

KimJonnan

newbie

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I think regulation can only be used for ICO project issuance. Nothing else can be regulated. If Bitcoin is regulated, then Bitcoin will lose expensive prices. The biggest point of cryptocurrency is that it does not accept regulation. But ICO needs to be regulated.

Accts4u2

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Quote from: ghermghuda on September 19, 2018, 10:49:07 AM

It seems human nature has been one of the most complex things to study. Dating back to the B.C era, it seems whenever there was no law, regulation or control, humanity got lost.

Cryptocurrency and blockchain were invented for a good cause but it seems some bad nuts amongst us killed the dream. What do we see now, manipulation upon manipulation, scam, fraud and a whole lot of bad things. People are therefore loosing trust and leaving, and that's probably because no one regulates and so you can do whatever you want.

So my question is, should crypto get regulated would things get better? and also do we actually need to decentralize power and give ourselves the control?

We really need regulation to bring some kind of sense into this market because what is going on now is not something that we would want to keep going, without it the market is just going to be getting manipulated by the big players and like always it will be the average joe that suffers for it. With regulations we can eliminate most of the bad factors plaguing the market while the rest will be managed.

paulsen

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of course there are advantages and disadvantages. in fact there will always be a loved and hated. If I indeed prefer a system like this. because all will be easy, one-way, and also safe.

Ucy

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Compare rates on different exchanges & swap.

Or "we are like this" because the regulation people came in through the back door and because of the increasing Centralization of Crypto World.

Quote

whenever there was no law, regulation or control, humanity got lost.

Bitcoin/Cryptocurrency is actually self-regulatory. It been doing this without human regulators.
It has all of the above: Law and Regulation/Control... which is why supply was limited to 21000000. The network security and consensus algorithm aren't done by humans but codes.

ghermghuda

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Wow, i have seen excellent digestions of this topic and I must admit that I'm very enthused. Seems whether regulations are there or not the manipulations can continue to exist. Well, it ten comes to the point that we need to be vigilante and careful with our journey in crypto.

bartolo

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Quote from: ghermghuda on September 19, 2018, 10:49:07 AM

Cryptocurrency and blockchain were invented for a good cause but it seems some bad nuts amongst us killed the dream. What do we see now, manipulation upon manipulation, scam, fraud and a whole lot of bad things. People are therefore loosing trust and leaving, and that's probably because no one regulates and so you can do whatever you want.

No, it has nothing to do with the lack of regulation. If scammers have approached cryptocurrencies is because they have seen that there are many people interested in them and therefore they could use them for their purposes. This is something that has always existed, sometimes in the form of ponzi schemes, other times in the form of HYIPS, etc. In fact, there are other markets that are heavily regulated and controlled and even so, are not exempt from fraud.

vit05

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Most of the time regulation is a way to handle the natural conflict that exists. A coercive force can easily manipulate the lives of millions to favor some of its closest friends. This is what most governments do.

We recently had the case of the President of Venezuela Maduro having dinner at one of the most expensive steak houses in the world. And meanwhile, his population starves in the streets of Caracas. Governments manipulate much more than any market participant.

Of course, in cryptocurrencies, there is a lot of manipulation. But participating in this market is your option. And what happens is a daily dispute, often between equals. The market allows you to make as much profit from the price as it is from a drop. And the fruit of this is the market price. This is math.

We need to find solutions to reduce the power of the big exchanges and their volume fakes. But it is not the government alone that will fix this. Decentralization and power to the individual are positive aspects of this new emerging economy.

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Quote from: ghermghuda on September 19, 2018, 10:49:07 AM

It seems human nature has been one of the most complex things to study. Dating back to the B.C era, it seems whenever there was no law, regulation or control, humanity got lost.

Cryptocurrency and blockchain were invented for a good cause but it seems some bad nuts amongst us killed the dream. What do we see now, manipulation upon manipulation, scam, fraud and a whole lot of bad things. People are therefore loosing trust and leaving, and that's probably because no one regulates and so you can do whatever you want.

So my question is, should crypto get regulated would things get better? and also do we actually need to decentralize power and give ourselves the control?

No, there is a price to be paid for the freedom that we enjoy with cryptocurrencies, and that price is to be very vigilant about where we invest our money and what we do with it, this is something that you should already do with fiat but people are very reliant on the protection of the government, this is why bitcoin tends to attract a certain type of personality that is very independent minded and desires freedom more than anything.

heritage35

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There is no need to centralize the system. Although, the decentralized nature of it has its own disadvantages. My view about it now is that, most of those in the crypto space now have learnt a lot of lessons, most especially in identifying the right project to invest in. Investing in a project with a good and sound product will not only help the developer or those who invest into it, but that it will also bring sanity to the crypto space.

kevoh

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Quote from: ghermghuda on September 19, 2018, 10:49:07 AM

It seems human nature has been one of the most complex things to study. Dating back to the B.C era, it seems whenever there was no law, regulation or control, humanity got lost.

This is subjective. Even when there was the so-called law humanity still seemed lost. Once upon a time slavery was widely accepted and 100% legal even religious books like the Bible hardly condemned slavery.

Quote from: ghermghuda on September 19, 2018, 10:49:07 AM

Cryptocurrency and blockchain were invented for a good cause but it seems some bad nuts amongst us killed the dream. What do we see now, manipulation upon manipulation, scam, fraud and a whole lot of bad things.

This is not peculiar to Cryptocurrency. Fiat currency also receives its fair share of manipulation, fraud, scam and a whole lot of bad things. I do not get it why cryptocurrency is always being labelled as the bad egg!

auliahr

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very complicated and definitely has pros and cons. indeed the purpose of the regulator is very good and can increase community trust to be in crypto. but there are also things that are worrying, if the regulator can abuse its power and even make crypto worse than it is now.

ghermghuda

jr. member

Activity: 284

Merit: 5

It seems human nature has been one of the most complex things to study. Dating back to the B.C era, it seems whenever there was no law, regulation or control, humanity got lost.

Cryptocurrency and blockchain were invented for a good cause but it seems some bad nuts amongst us killed the dream. What do we see now, manipulation upon manipulation, scam, fraud and a whole lot of bad things. People are therefore loosing trust and leaving, and that's probably because no one regulates and so you can do whatever you want.

So my question is, should crypto get regulated would things get better? and also do we actually need to decentralize power and give ourselves the control?

Topic: We're like this because of decentralization and no regulation? (Read 176 times)