Will governments prohibit developers from creating a new coin? - page 6.

Coin_trader

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Quote from: anu1908 on August 07, 2021, 03:24:07 AM

focusing on exchanges or any hub connecting buyers and sellers is more efficient to control the flow of the market. even there is a law prohibiting a dev to publish new coin, implementing and maintaining it will be difficult since the dev can easily use a smurf account. it's not worth it, as mentioned above.

Are you aware that some country especially US requires crypto user to submit all there transaction as a requirements for paying there tax? If ever government really publish this kind of law. They can easily track there people transactions and detect whether they bought prohibited coin or not. Its not necessary for them to cracked down devs or exchange while they directly target there peoples itself.

kumala_abi

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Quote from: SlimShadyMmp on August 06, 2021, 05:45:19 PM

Absolutely not No one can stop the development of new coins I think they will continue to evolve and grow and basically we will keep getting new coins including shit coins and money will keep changing hands so my advice is simple keep doing what you are doing and maybe take advantage of one or two fresh diamonds in the market and take care while it shines

decentralized system make us could do anything we want , every one could build their own project without any restriction from anyone include from our government . developers team could work remotely and spreaded in several countries.

Quote from: anu1908 on August 07, 2021, 03:24:07 AM

focusing on exchanges or any hub connecting buyers and sellers is more efficient to control the flow of the market. even there is a law prohibiting a dev to publish new coin, implementing and maintaining it will be difficult since the dev can easily use a smurf account. it's not worth it, as mentioned above.

they could crack down exchanges when they want but not blokchain technology developtment , no one will stop it. technology is changes everyday and why they have to stop it ? its very fool.

anu1908

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focusing on exchanges or any hub connecting buyers and sellers is more efficient to control the flow of the market. even there is a law prohibiting a dev to publish new coin, implementing and maintaining it will be difficult since the dev can easily use a smurf account. it's not worth it, as mentioned above.

Bitstar_coin

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I don't think the government have such power to impose such strict regulations on crypto, besides as a decentralized entity how can they manage to do that! Except you are saying they have the power to control the blockchain entirely, otherwise I am not sure this will be possible for them to carry out, developer's can still be able to develop even if they impose regulations on crypto through exchanges, this is hoe I see it.

inanilujimi

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So far in my country there are no restrictions or any rules regarding crypto. As far as I know, fiat and crypto can coexist with each other. it's true that there are too many scams in the name of crypto, but it's not with rules to destroy crypto that are the solution. at least there are rules and legitimacy if developers don't do scams to keep investors safe.

Ozero

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No, in any case, in civilized states where the rights of citizens are respected, this will not happen for sure. As a general rule, citizens have the right to engage in any kind of business or activity, if they are not prohibited by a special law. There is no reason to prohibit citizens from creating new cryptocurrencies. Moreover, many of them serve certain types of business or simply create additional conveniences in the field of economics, finance, trade and other activities.

aemma

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Quote from: Abiky on August 06, 2021, 09:23:35 AM

As crypto/Blockchain tech becomes more popular, mainstream banks and governments will be forced to take action against this emerging industry to stop its growth worldwide. They don't want to people to use crypto on top of Fiat, so we'll be seeing new tactics from said entities in order to destroy crypto for good. One of those tactics could be either banning people from trading crypto at a centralized exchange or simply prosecuting developers of a cryptocurrency project. I believe the latter option is much easier and effective for governments to put an end to crypto for good. Before devs will be able to launch a new cryptocurrency, they're going to need governments' approval. Otherwise, they could face serious consequences in the long run.

Thoughts? Huh

Innovation drives a country as well as attracting more investors which in turn leads to more economic growth of a country in a way. In the case of crypto projects, remember most of them are based in different countries, and there is no way they will operate without the right regulations of that country which of course will include tax, that is to say, all these countries crypto projects are based on pay taxes which adds to the revenue of the country, and since most countries like taxes I don't think they will prohibit any new startup crypto project.
Also, in the issue of crypto being used more than fiat, I also don't think it will happen, the question is, how many offline businesses are accepting crypto? How many even know much about it? Therefore my opinion is, both crypto and fiat will know their place in all countries, both will exist along each other but however fiat will also reign over crypto since it is backed by the government.

cryptoaddictchie

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Quote from: Abiky on August 06, 2021, 09:23:35 AM

Before devs will be able to launch a new cryptocurrency, they're going to need governments' approval. Otherwise, they could face serious consequences in the long run.

Thoughts? Huh

This is only applicable if the government implement this kind of rule. However only few will do this as people will totally oppose them. Imagine not using crypto or creating pne for their own sake is greed.

Country should also remember the freedom people can choose. This is depend on type of government too. If its same like China then chinese people have really no vote to that and need to accept the fate as their goverment is implementing it.

aylabadia05

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There are many other ways that crypto lovers can do if the option is carried out by the government in stopping the rate of crypto.
I think that so far, crypto has helped the government a lot in terms of income for the people living in their respective countries.

rhomelmabini

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I don't think it will be possible on both for a further prohibition but I guess there should be a regulation that may mitigate for those who will abuse it especially on the thing creating new coins with just no usecase. Regulations will be part of the crypto world and that's a fact in the coming years since there are more and more institutions are coming into crypto.

wajik-tempe

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Quote from: Abiky on August 06, 2021, 09:23:35 AM

As crypto/Blockchain tech becomes more popular, mainstream banks and governments will be forced to take action against this emerging industry to stop its growth worldwide. They don't want to people to use crypto on top of Fiat, so we'll be seeing new tactics from said entities in order to destroy crypto for good. One of those tactics could be either banning people from trading crypto at a centralized exchange or simply prosecuting developers of a cryptocurrency project. I believe the latter option is much easier and effective for governments to put an end to crypto for good. Before devs will be able to launch a new cryptocurrency, they're going to need governments' approval. Otherwise, they could face serious consequences in the long run.

Thoughts? Huh

Because cryptocurrency is decentralized and spreading by the internet, creating a new coin doesn't require any physical document to launch the coin the the public, so it's easy to launch it anywhere in the world in which country. Like my country is banning crypto right now, but i know there are several people that known rich, making their own cryptocurrency but under different country. So people will trick it if that happen.

sisikin

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Quote from: wxa7115 on August 06, 2021, 04:56:47 PM

Quote from: Abiky on August 06, 2021, 09:23:35 AM

As crypto/Blockchain tech becomes more popular, mainstream banks and governments will be forced to take action against this emerging industry to stop its growth worldwide. They don't want to people to use crypto on top of Fiat, so we'll be seeing new tactics from said entities in order to destroy crypto for good. One of those tactics could be either banning people from trading crypto at a centralized exchange or simply prosecuting developers of a cryptocurrency project. I believe the latter option is much easier and effective for governments to put an end to crypto for good. Before devs will be able to launch a new cryptocurrency, they're going to need governments' approval. Otherwise, they could face serious consequences in the long run.

Thoughts? Huh

They can forbid it if they want, the problem is how are they going to enforce this? I mean more than a decade has passed since satoshi released the first cryptocurrency and to this date there is no reliable information that says that they had been able to track him down since he took all the precautions that he could so he could remain anonymous.

What is stopping developers in the future to do exactly the same and do the best that they can to protect their identities and release their coins anyway? To me regulation seems like the best path for the governments, otherwise they are going to make a fool of themselves.

Yes, but it still depends on local laws and regulations. If your country prohibits the use of bitcoin, if you want to issue coins, the government will 100% prohibit you from implementing it (you can issue it in places where it is permitted abroad)
If your country allows the use of cryptocurrency, then everyone's currency can be issued, because everyone can issue currency to see if you will be trusted by others. Not everyone's project will be trusted.

CaVO32

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Quote from: SlimShadyMmp on August 06, 2021, 05:45:19 PM

Absolutely not No one can stop the development of new coins I think they will continue to evolve and grow and basically we will keep getting new coins including shit coins and money will keep changing hands so my advice is simple keep doing what you are doing and maybe take advantage of one or two fresh diamonds in the market and take care while it shines

Government can't control these people because they are not under the employment of the government. So no one can stop them from creating new coins, and as we can see a lot are creating it anonymously, so no one knows behind such projects. What we can do as crypto users, is be cautious on investing with projects. It is now our responsibility to take care of our funds and do the homework before buying any of these coins in the market.

SlimShadyMmp

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Absolutely not No one can stop the development of new coins I think they will continue to evolve and grow and basically we will keep getting new coins including shit coins and money will keep changing hands so my advice is simple keep doing what you are doing and maybe take advantage of one or two fresh diamonds in the market and take care while it shines

Rengga Jati

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This will return to regulations and also the law related to Cryptocurrency in the country.
If it's indeed legal, it doesn't need to worry because probably the cryptocurrency is not used as a real payment tool in their country, not to compete with their fiat. But more to other token utilities.
But if there is a ban and Crypto is not legal, then it can be a problem.
And whether every new company or project must always get approval from the government?

Fivestar4everMVP

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Quote from: wxa7115 on August 06, 2021, 04:56:47 PM

Quote from: Abiky on August 06, 2021, 09:23:35 AM

As crypto/Blockchain tech becomes more popular, mainstream banks and governments will be forced to take action against this emerging industry to stop its growth worldwide. They don't want to people to use crypto on top of Fiat, so we'll be seeing new tactics from said entities in order to destroy crypto for good. One of those tactics could be either banning people from trading crypto at a centralized exchange or simply prosecuting developers of a cryptocurrency project. I believe the latter option is much easier and effective for governments to put an end to crypto for good. Before devs will be able to launch a new cryptocurrency, they're going to need governments' approval. Otherwise, they could face serious consequences in the long run.

Thoughts? Huh

They can forbid it if they want, the problem is how are they going to enforce this? I mean more than a decade has passed since satoshi released the first cryptocurrency and to this date there is no reliable information that says that they had been able to track him down since he took all the precautions that he could so he could remain anonymous.

What is stopping developers in the future to do exactly the same and do the best that they can to protect their identities and release their coins anyway? To me regulation seems like the best path for the governments, otherwise they are going to make a fool of themselves.

You are absolutely right, and I align my thought with yours, it will be absolutely foolish for the government to try to stop developers from making new coins, as this isnt going to work in what ever way we choose to look at it, Satoshi and bitcoin is a very good point to reference on.
CryptoCurrency are completely decentralized in nature, which means one does not require permission from anybody to perform or use it, I and everyone else in any part of this would can create/develop a crypto coin from the comfort of the bedroom without anyone knowing who developed it if the developer decides to stay anonymous like in the case of Satoshi(is Satoshi even he's real name? Of course not).
So conclusion is that government have no power to stop cryptocurrency development, but like others have said here before, they can regulate its usage if they want.

wxa7115

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Quote from: Abiky on August 06, 2021, 09:23:35 AM

As crypto/Blockchain tech becomes more popular, mainstream banks and governments will be forced to take action against this emerging industry to stop its growth worldwide. They don't want to people to use crypto on top of Fiat, so we'll be seeing new tactics from said entities in order to destroy crypto for good. One of those tactics could be either banning people from trading crypto at a centralized exchange or simply prosecuting developers of a cryptocurrency project. I believe the latter option is much easier and effective for governments to put an end to crypto for good. Before devs will be able to launch a new cryptocurrency, they're going to need governments' approval. Otherwise, they could face serious consequences in the long run.

Thoughts? Huh

They can forbid it if they want, the problem is how are they going to enforce this? I mean more than a decade has passed since satoshi released the first cryptocurrency and to this date there is no reliable information that says that they had been able to track him down since he took all the precautions that he could so he could remain anonymous.

What is stopping developers in the future to do exactly the same and do the best that they can to protect their identities and release their coins anyway? To me regulation seems like the best path for the governments, otherwise they are going to make a fool of themselves.

bitkanu

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The smartcontract was running inside the blockchina that has been creating by the connection between lots of nodes that already spread around the world.
How is it possible for the government to prohibit the developers from the creation of new coins? im thinking if the listing could become a way for the government to prevent the new token to enter in the market.
i think that government has nothing to do with the activity of developers issue new coins.

Abiky

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As crypto/Blockchain tech becomes more popular, mainstream banks and governments will be forced to take action against this emerging industry to stop its growth worldwide. They don't want to people to use crypto on top of Fiat, so we'll be seeing new tactics from said entities in order to destroy crypto for good. One of those tactics could be either banning people from trading crypto at a centralized exchange or simply prosecuting developers of a cryptocurrency project. I believe the latter option is much easier and effective for governments to put an end to crypto for good. Before devs will be able to launch a new cryptocurrency, they're going to need governments' approval. Otherwise, they could face serious consequences in the long run.

Thoughts? Huh

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