Topic: What happend..... - page 2. (Read 550 times)

1) Governments were never going to allow crypto to remain in its Wild West state.  Never.  I'm actually surprised that there aren't more rules and restrictions than there currently are.  In a lot of ways, we're still in the early days of crypto.

2)  Exchanges aren't requiring KYC docs because they want to (as far as I know).  They're doing that because they're being forced to by the governments in whose jurisdictions they operate.  Exchanges don't have a choice, and I can't fault them for implementing KYC.

3)  I don't know what you mean by developers requesting to make themselves public.

4)  Yeah, there's a lot of that "cult of personality" in the crypto space, which I don't particularly care for.  I'm not interested in personalities and generally don't believe anything people have to say--even less so when they have a "big" name attached to their words.

The community doesn't have a lot of choice as far as the regs governments put in place, and it's unfortunate that there isn't a big political crypto lobby like large corporations have.  And as far as the 4th point is concerned, I've found my own solution to that (see above).

I guess crypto also evolved in the last 5-6 years.


I think this is evident last 2016 and really highlighted in 2017 specially when bitcoin reaches it's peak. I don't think its taking back control, but more of wanting to have a piece of the pie.


You can still used DEX.


Why not though, people are pulling a lot of scam attempts. Top 10 coins developers are well-known.


To be honest, when the price of bitcoin starts from .01 then goes to 10 dollars, it became an asset per se, so it has very much evolved.

Nobody think that Bitcoin will show like this as it started nothing and just being ignored by many, not even the government had noticed. But to the time that crypto explode, it catches attention to the people. Not being a part of it only but also the aims of the government to take control and have some share of it. The greedy thing to be and most likely they do to the others.
Should we expect strong support for them? Not really and we can't expect that from them unless they'll taking some part of it just like imposing taxes.

Before we even learn this crypto,illegal people already using this as their trading material and i believe that why this become more popular and successful is because these underground people are already using this.
KYC and AML maybe effective for Law Abiding people but for criminals and syndicate ?lol they will only laugh at this regulations.

I am among those who are quite surprised by the current state of bitcoin, so many bad things happen in the crypto world. Therefore more and more
decreased enthusiasm of people towards bitcoin. I want bitcoin to be respected and desirable as before, frankly I am a person which is difficult to
move on to what happened in 2017-2018. At that time the whole world seemed to glance at bitcoin, and it was very easy to earn money when it is.
It has been two years but the situation is now very alarming, even though the big event bitcoin halving is about to take place will happen but the
price movement of bitcoin looks stable. Bitcoin prices should have gone up dramatically.

You will agree with me that then bitcoin is not really understood and when people get involved in bitcoin, a lot of people started concentrating on the flaws which lead to using bitcoin as a settlement for illegal things, fraud and money laundering and this has caused many parties involved in finding a concrete method to reduce this flaw and the results are those KYC, AML compliance and regulations we are seen today.

The main reason is that people try to cheat the system. For example many people started using exchanges for money laundering business and therefore there was no option but to make KYC mandatory. Decentralization is important and beneficial but at the same time some people exploit it for their own benefit.

If you want to collect money from individuals then you must be transparent and for this to happen then you must be publicly known so this is not a bad practice at all specially from the government that serves as protector of each people.

for OP,if you are not contented in this market then you can just simply Leave because no one is forcing you to remain here and having this issues .

This has been an age-long campaign for the fact that most of these exchanges are custodian exchanges and could be shut down if found violating rules, well there are some individuals under government radar, so the government want to be able to track them and their fund coupled with nations under sanctions. The government is still very powerful that this KYC has started been extended to DEX. It's too bad you can almost not able to buy bitcoin with your card without KYC.


For the most part of this, it's the developers that want to conduct ICO/IEO and collect funds from the public that usually do this to build investors' trust.

You need to look at it from afar.  This kind of technology is going to take time to develop and turn in to a mass adopted payment system.  I think first off too many people view bitcoin as an investment rather than a currency system as it was intended.  This is misleading and confusing to new people coming in and trying to figure out what bitcoin is all about.  We also haven't gotten that "killer app" as Andreas Antonopolous always talks about.  The one that makes things super easy your grandmother could use it.  This is all going to take time.  Rome wasn't built over night.

I believe you are part of a small group that is not satisfied with how things are going


call evolution.

when in my country we used this phone



we had privacy because the government didn’t require people to register with mobile operators.

today we use these:



the number of people using the phone in my country has increased a lot and as a result the government has started to demand that mobile operators register their customers and privacy no longer exists


because this is an inevitable path, you can still use mixers if you want privacy


 

I think this starry-eyed, nostalgic romanticism with the bitcoin landscape being the wild-wild west is a very "western" concept. I was not there in 2013 but came in touch around mid-2017 with the ICO craze. I don't think KYC or regulations have hurt bitcoin as much as the insider themselves. You cannot expect a technology like bitcoin to reach a critical level with interest just from the privacy-conscious individuals. Bitcoin NEEDED more people to come in. That meant development and use-cases. Actual usage as the currency of the internet but that did not happen. One of the reason is the non-diversification of development.  The community also got split and bitcoin relegated the role of demonstrating blockchain capabilities to the crazy, scammy ICO "devs".

Another thing is that the discussion on newer capabilities has completely got shut off amidst the unnecessary tantrums over KYC/ regulation etc. Fo rexample, @JetCash decided to start threads for discussion of bitcoin's new capabilities but these things don't get much attention. This leads to a situation where developments based on bitcoin don't get as much attention. All the spotlight remains on the maximalists and "sound money" enthusiasts from twitter. (Unfortunately, the set of maximalists and the set of COVIDiots has a considerable overlap, so more division).

There is a certain section of people that wants bitcoin to be a cure for everything from Govt monopoly to bad vaccine practices to fake news to consumerism. It provides a starting point for that but it cannot by itself be the answer. That explorer spirit has been taken over by traders and whales. We just unleashed another set of software guys waiting to get rich (Gates and Jobs) when we should have had a set of software guys wanting to make the world a better place (Stallman and Linus).

Your points are valid mate because the problem with OP is that He is expecting
too much to happen as if the market
 needs to continue growing in front of Him in which i think not appropriate in Crypto currency,Not like in Stocks that there
 are physical products in circulation but here?all are virtual so movement are far different from everything that we use
 to learn.but at least we are seeing completely success for more than 10 years look of how much crypto already achieved .

To be honest, the progression we see today is far away from the past. there are many developments and most of the time it involves Bitcoin. the good thing about it is, they are now recognizing bitcoin as one of the top currency in the world not just some fancy coin from the casino or used by the bad people in the deep weeb. this is so far the great year for the bitcoin unless you still want the old way of bitcoin where you are having hard to explain it to the people. which much more complicated than what we have today.

To me, this is what Nakatomo Satoshi wants to create. he wanted to create a decentralized market and a limited supply of assets would lead the market and he succeeded. He knows that when this market is well known, it will be a completely beneficial playground for those who have a lot of money. Anyway, this is a kind of interesting decentralized market and It is only for those who like to face high risks. We can either make a lot of money and become a shark or we have nothing.

In my country every local exchange wants you to first to through KYC if you want to trade or liquidate into local fiat. That is basically the reverse of what cryptocurrency is meant for.

Developers are requested to make themselves public because of so many scams happened in the past. Now, if they need investment into their projects they need to reveal their identity or create a project better than those which already exists.I support that too as it helps investors to gain trust.

Other than that everything else is a bunch of crap.

Going shit seems to be too much. It pretty much just bent to the will to the majority of those big companies, albeit a minimal amount. Kind of like meeting halfway through to make an agreement. Not to mention the explosive growth of Bitcoin in every aspect which only took 10 years. The government as an authority HAD to do something. It's not like they're just idiots to ignore something that literally imposes control over something they themselves control. Not to mention that they can't even participate in negotiations with whoever is backing BTC because no one is backing it. Well, there is, but it's a collective organization without any leader, simply speaking, the crypto community that is invested in making BTC an asset that could be assimilated to the entire world.

I dont agree on this part mate because there are many people here that happy in the situation because they are willing to stay Holding Bitcoin and by this having the market low in prices is their chance to accumulate many crypto.

And majority of those people are trusting cryptocurrency that will bring Good future (like me) so if you are not happy in this market,then you are free to Go mate because like what you said its been many years when you are here yet don't seem to understand how this market goes.

There are obviously different kinds of people on the market now. One uses bitcoin for its better pseudonymous support, while the other is in it for the money. The latter won't mind any KYC as long as it's safe for them while the other would probably asking where are we going right now.

Crypto is no longer a 'geek' market now, everyone is trying to take profits from it, so it's inevitable. If you don't like KYC, strict rules and etc, then DEX is your choice. Removing the whole retail market is not a good idea either as it's impossible to make bitcoin mainstream when you don't get enough publicity and volumes from those speculators.

You are lucky to be one of the early adopter. Satoshi's vision and mission creating bitcoin didn't go in vain. We are still using it as a payment and that's the main goal why Satoshi ended up with bitcoin.

The exchanges just came next and those are businesses that have to comply to their local government in which they are part of the jurisdiction. They're helping the crypto community because there's circulation of money and it's adding market cap to bitcoin.

I guess Satoshi is expecting this or has seen this scenario, the collaboration of the government and its tie up to bitcoin.