World Of Crypto Has Changed in Last 6 Years. - page 3.

Baghdad

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Quote from: Slow death on April 23, 2024, 06:08:24 PM

In the past it was much easier for scammers to create scam exchanges, in the past it was easier for exchanges to have fake volume. In the past it was easier for scammers to create ICOs, in the past it was easier for people to create tokens with fake teams, in the past it was easier for people to create meaningless altcoins like Jesus Coin and scam other people with religious coins. But thanks to governments starting to pay more attention to this market, scammers have a greater chance of being punished today. Even though I don't like kyc, I still think it's a good measure, I think it's also a good measure that governments are taking when they require exchanges to comply with laws. This is a market that moves a lot of money, so it would be difficult for governments to ignore

Bitcoin is a long years of work achieved and being put to work. In previous years as you stated there were no KYC, enabling more scammers and rug pulls occuring in the market. In the few moments I've looked into this broad space of monetary investment I noticed the purpose of government's involvement in the market is to safeguard citizen's money and help investors stay clear from infamy scammers. But, the government's hands on cryptocurrency doesn't make many changes in reducing scam projects.

On telegram lots of projects are not feasible, but made up to eat up investor's money. Please, how do you think they'll get punished on platforms like telegram? If the government's hand in crypto is stable and strong. I think more people will get interested in the cryptocurrency market. Thereby, skyrocketing the rate at which illicit players will operate, unless the government also finds a means of regulating platforms like telegram and discord. Where I have seen multiple complaints from users regarding cryptocurrency scam.

un_rank

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- Jay -

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

Taxes on crypto is not different to what people pay on other income, it is less in some countries and many are yet to tax capital gain on Bitcoin
There are still many options of exchanges to use and most users are not particular in protecting their privacy or decentralization.

None of these reasons will be enough to get people to drop out of Bitcoin, if you generalize it to the entire crypto ecosystem, there are so many other reasons for one to stop holding altcoins and buying into new projects.

- Jay -

Yamane_Keto

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It may be necessary to start thinking about using Bitcoin only as a means of conducting transactions and preserving wealth instead of trade out to fiat.
It is true that the procedures have become more stringent, but you can still do P2P trading, buying and selling products with Bitcoin.

Faisal2202

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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?

Nah I don't think people will leave crypto just because the government keeps getting involved as a matter of fact I consider the involvement of government a good factor for the same reason that you have aforementioned. People will not leave because if government is cracking down exchanges then new exchanges will take place, if they are implementing high taxation, then new method to minimize the taxation will take place, if they are eliminating anoynity, security, decentralization factors from the exchanges, platforms then new ones will take there places.

This works is full of diversity, means if there are people demanding cringe content then there will be people creating it, same if the people will demand decentralized platforms, developers of the same kind will make those and this is how things will work. And why would you say, only high wealth people will be involved, as it's not about money I guess, its about technology.

mk4

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Since when has taxes stopped most people from doing anything? Yes, it will stop some people, especially in countries like the United States, but most people will just end up not declaring their transactions — especially those that do things on-chain, not on centralized exchanges.

Slow death

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Leading Crypto Sports Betting & Casino Platform

In the past it was much easier for scammers to create scam exchanges, in the past it was easier for exchanges to have fake volume. In the past it was easier for scammers to create ICOs, in the past it was easier for people to create tokens with fake teams, in the past it was easier for people to create meaningless altcoins like Jesus Coin and scam other people with religious coins. But thanks to governments starting to pay more attention to this market, scammers have a greater chance of being punished today. Even though I don't like kyc, I still think it's a good measure, I think it's also a good measure that governments are taking when they require exchanges to comply with laws. This is a market that moves a lot of money, so it would be difficult for governments to ignore

batang_bitcoin

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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?

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.

worldtraveller321

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The Quest of the Best Information to the Solution

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?  

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