World Of Crypto Has Changed in Last 6 Years.

aoluain

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Quote from: Jawhead999 on April 29, 2024, 08:53:56 AM

Quote from: worldtraveller321 on April 23, 2024, 04:00:40 PM

just figure i share thoughts on crypto world, it sure has changed in last 6 years, where it used to be the free market and we could do as we please, with trades, buying and selling crypto

now its so different now  as the governments in the world have gotten involved and trying to make it harder in crypto as in if you need to trade out to fiat ,

u have to pay taxes and lots of it
Governments are cracking down on exchanges and regulations etc.  
  in one way it does prove crypto has value and here to stay
There is more adoption going on. Slowly but it is happening,. 

Do you think all this will make people to drop out of crypto and leave it to the people who have high wealth only?

Or will the average person still stay in the markets?  but its too bad that the powers that be are making it difficult      ur thoughts?  

It's really wrong to say the government make people harder to trade crypto!

Either you use centralized exchange, P2P or DEX, there's no big difference, verifying your account didn't take a long time.

Although the government are tightening their regulations and tax your capital gains, it won't take 100% of your profit.

Hence, there's no reason Average Joe will leave the market, even you didn't invest in cryptocurrencies, the government will tax your personal income and capital gains from other assets.

I agree also that governments applying tax and regulations will turn people off getting into Bitcoin.
It is so accessible to most of the world with whatever amount of FIAT you want to use and no
middle man or investment company being involved.

In a messed up way of thinking and a way that goes against what we think about governments
applying tax regulations it means that they are happy to let their citizens get involved because
they get their tax cut from the profits.

Baki202

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Quote from: worldtraveller321 on April 23, 2024, 04:00:40 PM

Do you think all this will make people to drop out of crypto and leave it to the people who have high wealth only?

People that want to invest will not be bothered with what ever bitcoin might bring in price, crypto is literally for everyone, it does not matter weather you are rich or not, because no matter the amount of money you have can be use to invest in bitcoin all that matters is that you have interest and you have quite some amount of money to invest. You don’t need much to invest but if you have good capital it will be of more benefit.

Quote from: batang_bitcoin on April 23, 2024, 05:24:59 PM

No. It is the sign that more money is going in to crypto and those that are existing here won't think about getting out anytime soon. We're not yet on the peak of the bull run and that's why people won't be thinking of dropping out anytime soon. Many are going to leave when we're already on the bear market but as of this time, I don't think that's what on the mind of the most when we're not yet seeing the best of Bitcoin. But it's true that a lot has changed for the last 6 years.

Daily cryptocurrency records demonstrate that new investors are constantly purchasing bitcoin. Despite the current state of the market, people will continue to buy and sell, with many selling during bear markets and others losing patience. We have yet to witness a significant profit period. Over the past six years, a lot has changed in terms of pricing and the number of investors, who continue to rise in number.

fullhdpixel

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Quote from: michellee on April 25, 2024, 09:21:44 PM

Yes, now the situation is different with the involvement of the government, which is trying to study crypto so it can collect taxes on it. We cannot deny that even though no government controls crypto, we live in a country. Each country's government wants to collect additional income as taxes to improve its economy.

It seems like people already understand that even though the government is involved, namely taxes, people still use crypto. People who already understand will not see it as a problem because they are just trying to follow the regulations made by the government. Even though there are regulations from the government, as long as people can still use crypto, they will continue to use it.

It won't drive people out of crypto. They will stay in crypto because they see the potential profits they can make. Taxes are something they have to give to the state, while the profits they get can still be as large as before. Like it or not, we have to accept regulations from the government.

Trading has not been legal in my country till now, but I am afraid that even if trading becomes legal in our country, taxes will be imposed by the government so much that a common man who is still trading on low income will not be able to do it. He will not be able to trade.

If you see, we are still paying taxes, in the case of mining, we have to pay the tax on mining BTC, on top of selling BTC, similarly, we have to pay the fee for buying other alternative coins, and even while selling. If we have to pay the fee, we will not be able to afford more government tax on top of it. Therefore, not having some things is better than having them.

MusaMohamed

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Quote from: GreatArkansas on April 29, 2024, 07:20:33 PM

The regulatory environment has become tighter. Governments and financial authorities have started to impose regulations aimed at preventing illegal activities, which for me is kinda normal job of every government.

Governments less paid attention on Bitcoin market, then cryptocurrency market when market cap of this market was smaller in the past. With time and growth of this market, its market cap becomes bigger and governments have to pay more attention on it, do more regulations, tighten their regulations and want to get more money in tax from this market.

Quote

The future of cryptocurrencies will likely depend on finding a balance between regulation and maintaining the core principles of decentralization and freedom that originally defined the space.

I believe Bitcoin and cryptocurrency market will be here to stay with us and governments, central banks. They will only regulate this market more strictly but will not destroy it. With stricter regulations, there will be less freedom, privacy but we will still have this market existence to use.

GreatArkansas

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Quote from: worldtraveller321 on April 23, 2024, 04:00:40 PM

u have to pay taxes and lots of it
Governments are cracking down on exchanges and regulations etc.  
  in one way it does prove crypto has value and here to stay
There is more adoption going on. Slowly but it is happening,. 

The regulatory environment has become tighter. Governments and financial authorities have started to impose regulations aimed at preventing illegal activities, which for me is kinda normal job of every government.
The future of cryptocurrencies will likely depend on finding a balance between regulation and maintaining the core principles of decentralization and freedom that originally defined the space.

johnsaributua

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Indeed, the period is stunning, I think before the halving period yesterday it was felt even in my opinion the best halving with such a volatile market segment, even though the ath price is below the current and appears in the following year. crypto this year people are used to and comfortable with good prices even before and after it is almost the same as the density and fomo that continues to run. Indeed, there is a lot of hunting in cheap coins including people who have just traded in the last 2 years, if you have a good taste and strategy, of course more capital recovery and profit, a sense of speculation can hit anyone especially when it is hype even though it is very volatile.
==================
The regulation of each country for me is not the same, and depends on what is done in the market, I think for assets buying and selling / bartering among coins is reasonable and more lenient laws than making it as a means of payment for other objects, especially objects that are not useful or sorry (criminal) of course prohibited.

Because the tax I get is for local cex transactions and may be smaller. Even so I prefer the world's popular cex Grin

because it is familiar and comfortable to trade and see trends.

jrrsparkles

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You, me and everyone is else paying taxes to the government indirectly even if you're making less income and doesn't pay direct taxes. Regulation is actually good thing that will make people to believe crypto is actually real cause still people out there who things it's not even real.

Things will eventually change and if becoming expensive is what you can't afford then buy as much as now when you can.

Jawhead999

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Quote from: worldtraveller321 on April 23, 2024, 04:00:40 PM

just figure i share thoughts on crypto world, it sure has changed in last 6 years, where it used to be the free market and we could do as we please, with trades, buying and selling crypto

now its so different now  as the governments in the world have gotten involved and trying to make it harder in crypto as in if you need to trade out to fiat ,

u have to pay taxes and lots of it
Governments are cracking down on exchanges and regulations etc.  
  in one way it does prove crypto has value and here to stay
There is more adoption going on. Slowly but it is happening,. 

Do you think all this will make people to drop out of crypto and leave it to the people who have high wealth only?

Or will the average person still stay in the markets?  but its too bad that the powers that be are making it difficult      ur thoughts?  

It's really wrong to say the government make people harder to trade crypto!

Either you use centralized exchange, P2P or DEX, there's no big difference, verifying your account didn't take a long time.

Although the government are tightening their regulations and tax your capital gains, it won't take 100% of your profit.

Hence, there's no reason Average Joe will leave the market, even you didn't invest in cryptocurrencies, the government will tax your personal income and capital gains from other assets.

SickDayIn

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One of the biggest changes I have noticed in cryptocurrency, particularly Bitcoin, in the past 6 years is the use of big data analysis techniques to "de-anonymise" the owners of wallets and transactions. This has been done by
private companies such as Chainalysis, TRM Labs and Eliptic offering services to law enforcement, government agencies, and cryptocurrency exchanges. If you received coins in exchange for providing services or goods, and deposited on an exchange, and they for some reason believe that the source of your funds comes from a suspicious or malicious entity, they can swiftly freeze your coins and hand them over to authorities.

arjunmujay

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Quote from: michellee on April 26, 2024, 10:10:44 PM

~SNIP~
That is why crypto is now very different from previous years. Crypto will develop even more in the future because there will be more new projects besides Bitcoin and altcoins. That will make more and more people enter the crypto market.

It's true, as you said, the development of crypto shows very positive things and is different from several years ago. Moreover, since Bitcoin EFT has been approved, more and more investors are entering the crypto world.
In line with this development and legality, it is actually appropriate if there is a tax on the transactions we make in crypto. However, everyone definitely wants low taxes, not as high as the taxes currently in effect.

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Quote from: arjunmujay on April 25, 2024, 10:09:26 PM

If we look at it from the profit aspect, we will indeed feel that our profits will be slightly reduced due to taxes from a country on crypto transactions. But if you look beyond that, the legality of crypto is getting wider and one day it will even be recognized by all countries. When that happens, it is not impossible that many new investors will enter the crypto market, especially Bitcoin, whose output can increase confidence and the price of Bitcoin itself. Not to mention, the supply of Bitcoin circulating on the market is decreasing because there is a halving event every 4 years.

If the profits you withdraw are large, the tax we pay also has limits. I think the tax reduces the profit a little, but we still have a large amount of profit money. We can think of the tax as just an additional cost.

New investors will enter the crypto market, especially now that crypto is more popular. Many people started to realize the existence of crypto, and they started learning and investing in crypto, especially Bitcoin. The possibility of prices rising greatly makes people want to invest in crypto.

That is why crypto is now very different from previous years. Crypto will develop even more in the future because there will be more new projects besides Bitcoin and altcoins. That will make more and more people enter the crypto market.

hatshepsut93

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Quote from: worldtraveller321 on April 23, 2024, 04:00:40 PM

  in one way it does prove crypto has value and here to stay
There is more adoption going on. Slowly but it is happening,. 

The fact that government puts more effort into regulating crypto ecosystem means that they believe that a lot of money will be in this sphere in the close future. This isn't the same as it being objectively being true - the government could be wrong just like anyone else can be wrong.

There's still a chance that crypto will turn out to be a bubble similar to tulip bulbs. 10 years is not that long to proclaim that it's here to stay.

Darker45

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As far as trading is concerned, what has changed? You can still buy and sell Bitcoin until now. The platforms offering these services have in fact grown in numbers a lot. As far as the market is concerned, it remains free, if free is to mean everybody can enter it.

If we take into consideration the governments' involvement in Bitcoin, I think it has generally improved. Gone are the days when governments would either brush it off as a nuisance technology or condemn it as a criminal's money. Now, Bitcoin is not only recognized as a rising asset in many countries, it is even treated as a legal tender in a few.

There is growing adoption. Governments cracking down on certain exchanges, imposing various tax responsibilities, issuing regulatory policies, and so forth are the prices to pay. That's what mainstream adoption implies.

I don't think people would leave crypto just as it is gaining grounds in the mainstream. They will stay. More will come.

peter0425

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Quote from: worldtraveller321 on April 23, 2024, 04:00:40 PM

just figure i share thoughts on crypto world, it sure has changed in last 6 years, where it used to be the free market and we could do as we please, with trades, buying and selling crypto

now its so different now  as the governments in the world have gotten involved and trying to make it harder in crypto as in if you need to trade out to fiat ,

Well that’s expected seeing as how huge crypto has gotten. It has become so influential that the government took notice and realized just how big of an impact crypto has and can make in our lives.

Quote

Do you think all this will make people to drop out of crypto and leave it to the people who have high wealth only?

I think there would be at least a little bit of people who be hesitant to go against the government and their regulations but I don’t think everyone would be so quick to leave crypto alone after it has proved itself to be profitable and useful.

arjunmujay

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Quote from: michellee on April 25, 2024, 09:21:44 PM

Yes, now the situation is different with the involvement of the government, which is trying to study crypto so it can collect taxes on it. We cannot deny that even though no government controls crypto, we live in a country. Each country's government wants to collect additional income as taxes to improve its economy.

It seems like people already understand that even though the government is involved, namely taxes, people still use crypto. People who already understand will not see it as a problem because they are just trying to follow the regulations made by the government. Even though there are regulations from the government, as long as people can still use crypto, they will continue to use it.

It won't drive people out of crypto. They will stay in crypto because they see the potential profits they can make. Taxes are something they have to give to the state, while the profits they get can still be as large as before. Like it or not, we have to accept regulations from the government.

If we look at it from the profit aspect, we will indeed feel that our profits will be slightly reduced due to taxes from a country on crypto transactions. But if you look beyond that, the legality of crypto is getting wider and one day it will even be recognized by all countries. When that happens, it is not impossible that many new investors will enter the crypto market, especially Bitcoin, whose output can increase confidence and the price of Bitcoin itself. Not to mention, the supply of Bitcoin circulating on the market is decreasing because there is a halving event every 4 years.

Oasisman

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Quote from: worldtraveller321 on April 23, 2024, 04:00:40 PM

just figure i share thoughts on crypto world, it sure has changed in last 6 years, where it used to be the free market and we could do as we please, with trades, buying and selling crypto

now its so different now  as the governments in the world have gotten involved and trying to make it harder in crypto as in if you need to trade out to fiat ,

u have to pay taxes and lots of it
Governments are cracking down on exchanges and regulations etc.  
  in one way it does prove crypto has value and here to stay
There is more adoption going on. Slowly but it is happening,. 

Do you think all this will make people to drop out of crypto and leave it to the people who have high wealth only?

Or will the average person still stay in the markets?  but its too bad that the powers that be are making it difficult      ur thoughts?  

The fact that the government have made enough effort to try and control the money that comes in and out from crypto or at least regulate it, means bitcoin imposed a threat towards traditional banking and the fiat itself. The borderless transactions bitcoin offers eliminates the use of the 3rd party payment processors posses another threat to a lot of payment processing facilities and that all goes down to affect the government and the economy.
So, that depends on how the people understands bitcoin, but most wealthy people are taking this opportunity to get even more wealthier and that's what separates them from the average people.
It's not really difficult for someone to engage in crypto despite of the regulations and crypto banning if one is techy enough to by-pass these restrictions.

michellee

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Yes, now the situation is different with the involvement of the government, which is trying to study crypto so it can collect taxes on it. We cannot deny that even though no government controls crypto, we live in a country. Each country's government wants to collect additional income as taxes to improve its economy.

It seems like people already understand that even though the government is involved, namely taxes, people still use crypto. People who already understand will not see it as a problem because they are just trying to follow the regulations made by the government. Even though there are regulations from the government, as long as people can still use crypto, they will continue to use it.

It won't drive people out of crypto. They will stay in crypto because they see the potential profits they can make. Taxes are something they have to give to the state, while the profits they get can still be as large as before. Like it or not, we have to accept regulations from the government.

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Quote from: batang_bitcoin on April 23, 2024, 05:24:59 PM

Quote from: worldtraveller321 on April 23, 2024, 04:00:40 PM

Do you think all this will make people to drop out of crypto and leave it to the people who have high wealth only?

No. It is the sign that more money is going in to crypto and those that are existing here won't think about getting out anytime soon. We're not yet on the peak of the bull run and that's why people won't be thinking of dropping out anytime soon. Many are going to leave when we're already on the bear market but as of this time, I don't think that's what on the mind of the most when we're not yet seeing the best of Bitcoin. But it's true that a lot has changed for the last 6 years.

the market shows strong holding meaning you are correct that people here still believes we are
not to dumping any time and with all this happening bitcoin is waiting for the right time making the bull ,
also considering that so much transaction fees now this is why most of us has no guts and power to
withdraw their funds because if they do? the profit that supposed to be for them will only go to the
Miners Grin

famososMuertos

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You mention that before you could do whatever you want, and now you can't, well I think you have the wrong idea, nothing has changed, if you used bitcoin to avoid responsibility in the past, it makes no difference today, in some countries, they have improved dome laws to make them more effective.

You have to take with a grain of salt that phrase "crypto world has changed," that is, it really has changed,!?, sometimes it's just personal perception, based on your own experiences.

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The whole thing with the government is happening through centralized exchanges. The regulations are all happening there. For instance if you login to some of these CEX from certain countries like the US, you’ll realize that they may have a special site based on government policies and stuff. But this isn’t the case with DEX because you don’t provide all those details about who you really are to trade there.

Topic: World Of Crypto Has Changed in Last 6 Years. (Read 481 times)