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.

oktana

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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.

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Quote from: avikz on April 24, 2024, 02:10:11 PM

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 a symbol of growth! Whenever the common people have done something extraordinary, governments always came sniffing in to get their cut. That's exactly happening in the crypto world as well. Initially no government had thought that crypto can indeed become so valuable. But when they did, governments around the world, are now trying to get their cut from our income. That's always happens!

Yep, exactly that's the fact!

I mean, whenever people do something big, like flourishing, So the Government always hinders this budding. They can't do anything by themselves. If you look at the truth, it is a little thought-provoking that, till now no government has taken any flourishing stance by itself. Every flourishing is done by a layman, but these people copy the idea and extend it further. Trying to do it from a technological point of view. So the same example is fitted here in crypto: till date no government has created such a technology in which all people are peer-to-peer network connected in a decentralized world. But these people understand taxes and regulations very well.

So it means to say that you are absolutely right, it is the symbol of growth, Satoshi is the person who has served humanity so much. All credit goes to him. While the government is ready to call Satoshi accused due to fiat terminology...

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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

Cryptoindustry has undergone changes and it was inevitable. This is the course of natural things. There used to be a free world of the wild west with its pros and cons. Do you remember how many scam projects there were and how many unsuccessful investors lost because of this? Sometimes freedom is tantamount to permissiveness, the consequences of which are unpleasant.

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

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 ,

It was only a matter of time before regulators appeared in the industry and they want to control everything, just like in any other areas of activity. In part, they are powerless in the world of cryptocurrencies until you start moving your assets into the real (traditional) financial sector.

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,. 

Taxes and KYC will become new components in the cryptosphere.

Regulation means recognition and acceptance by governments, which means that currencies will not disappear.

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?

I would say that, for example, bitcoin (whole) will become a privilege not only of the rich, but perhaps only of corporations.

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

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 share of the average person will be insignificant (ownership of satoshi, not whole bitcoin).

yazher

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Quote from: Yamane_Keto on April 24, 2024, 10:18:36 AM

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.

That's how it should be and because bitcoins have become secured and have some more value than before, this is the time to convert our assets slowly to bitcoins without exaggerating. There will come a time when having bitcoins in your wallet is way better than having real state assets where the price drops significantly in some parts of the world also when the time comes when you need to migrate somewhere in an emergency, you won't find yourself in a panic because you can just easily walk without letting the others know that you have a huge amount of bitcoins in your crypto wallet.

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

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

Wrong. The obligation has always existed. If you buy something for one price and sell it for a higher one, the government will potentially want to charge you fees for it, it is another thing if there were no explicit regulations about it, but what has happened is normal. This sector has matured, more and more money is moving through it and consequently it has become more and more regulated and taxed.

moneystery

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the regulations carried out by the government actually do not limit traders from being able to trade crypto, because the government's aim is to regulate for the security of the crypto world itself and traders. even though crypto trading is restricted in some countries, this does not stop the crypto world from developing and prevent traders from trading crypto. indeed, identity verification is annoying, but it is for the common good, and users are still free to choose a p2p exchange platform that is free of kyc. so if you say that the crypto world has changed, it's true, but not significantly.

Gaza13

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Yes, crypto has come a long way, Yes, the government sees the potential for crypto which is very rapid from year to year, I don't think it's difficult because there is friction in converting to fiat. That's why the government is firm about taking this, that's why taxes are implemented. I think Bitcoin is fair, not only for rich people but for all walks of life. For now of course we will survive, there is no need to leave, if we are aiming for price there is no harm in selling it, of course we are looking for a profit there.

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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?  

Bitcoin is meant for anonymity but the government never allowed it due to fraud and illegal activity which it blamed on Bitcoin.
Well, it is too bad to think but this is been accepted in the fact that it also gives us security and lessens fraud activities. But it doesn't mean it stops from adoption and besides, we don't need instant adoption instead, we want people to think about it more time and to understand carefully how it works.
Rich, poor, or average Joe - we can't expect them to stay strong and keep on investing because some of them will quit and leave. But new investors come in exchange for those who leave, it is a normal situation.

BD Technical

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The current situation has become such and the world has become such that buying a grain of grain or a small thing is running the country in this way because actually. I don't understand what the government actually wants because the current situation if the government continues to do this, it will turn people into fakirs by putting their stomachs on everything. However, they don't take the bat as much as the situation is favorable or as much as it gives because the benefits are fairly good in that case but it is unreasonable to impose VAT on everything.
If you notice how low the house cost when selling in Crypto currency now if you want to sell in a dog and bus, you see the fee is high. Right now his network house is not many people want to invest because of this bat for bat. There is so much pressure on it that it is slowly disappearing through the bat. If not sleep the rest because if this continues then the future will see the price demand for this VAT will decrease.

MusaMohamed

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Quote from: pooya87 on April 25, 2024, 04:59:49 AM

You are heavily limiting the definition of "world of crypto" by limiting it to only include "traders".

Bitcoin is most important pillar in Cryptocurrency ecosystem and more important than altcoins. I would prefer to talk about Bitcoin and its adoption changes so far.

Adoption is what we want to see as it will help to increase Bitcoin value, demand, then price on the market will reflected higher value, bigger demand and rise more.

Bitcoin community is made up of many components, developers, miners, investors, traders, gamblers and businesses that accept and integrate Bitcoin to their systems. Traders are only one part of Bitcoin community and it's hard to say they are most important in the community.

pooya87

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You are heavily limiting the definition of "world of crypto" by limiting it to only include "traders".

This is was expected too. When the government watches trillions of dollars in a certain market changing hands and loads of profits being made, it was always obvious for them to want their "cut"! So in a way, this is not even a big change that we didn't know was coming.
The rest is completely the same though. For example Bitcoin is just as decentralized as it should be and you can use it like always.

kryptqnick

legendary

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Merit: 1402

Join the world-leading crypto sportsbook NOW!

There are more regulations now than there used to be, that's true. Some countries have figured out their taxation policies and some are expecting people to pay taxes for their crypto profits. Moreover, KYC requirements on mainstream crypto exchanges became a pretty common thing, and it seems that 6 years ago, they were rare.
But things also differ from one country to another. Lots of governments are still not involved, and Bitcoin status is unclear in many countries. There are also places where you don't have to pay crypto taxes at all or up to a certain earning threshold.
I think average people will not only stay but will continue joining the market, despite the changes (and sometimes actually thanks to the changes, as some people care about ensuring that what they do is legal, so they appreciate the regulations).

jcojci

full member

Activity: 784

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We have to accept whatever situation is happening now. The government has indeed started to be active in crypto by implementing necessary policies. They want to get additional taxes from crypto so they continue to issue regulations for crypto users. And we, as crypto users, also have to comply because if we don't, we will experience problems and won't be able to use crypto like before.

But that won't turn people off from crypto alone. They will still be in crypto, especially since they have experienced the results they get from crypto. They will also comply with the rules or regulations set by the government.

Rabbitqt

newbie

Activity: 56

Merit: 0

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?  

As time goes on, Bitcoin and the crypto market will be viewed similarly to other markets, like gold or stocks. Currently, we're closely tied to stocks. I believe the hype and interest will wane, and so will these extreme bull runs. As more money enters the market, it becomes harder to influence prices. Those who remain interested will be enthusiasts, early adopters, and institutions, but the new wave of hype will fade.

Keep in mind, our market cap is only $1.5T, which is still relatively small. We have a long way to go before public interest fades.

Cookdata

hero member

Activity: 1106

Merit: 912

Not Your Keys, Not Your Bitcoin

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,. 

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?  

There is one thing in life that is constant and that is change, it will happen whether you like it or not, it's normal because without changes there wouldn't be growth.

You see about those taxes, it varies. There are some countries that are crypto friendly and yet they don't tax their citizens because they don't know what the future holds for now if they will accept as it may benefit the economy or not. However, there are some countries that are tax-friendly unlike the US and some other regions that are strict with crypto regulations. I hope you know that some of these people introduced high taxes to just discourage people.

As for the exchanges, not like I'm in the support of government, some of these centralized exchanges are known for dubious activity, many of them have stolen customers funds, loaned many of them out and also used the remaining for their own careers and when the customer want their money, they file for Bankruptcy, isn't that pathetic and fraud, sometimes government need to put things in order.

electronicash

legendary

Activity: 3178

Merit: 1054

Quote from: avikz on April 24, 2024, 02:10:11 PM

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 a symbol of growth! Whenever the common people have done something extraordinary, governments always came sniffing in to get their cut. That's exactly happening in the crypto world as well. Initially no government had thought that crypto can indeed become so valuable. But when they did, governments around the world, are now trying to get their cut from our income. That's always happens!

But I am more concerned about deep-pocket corporates getting into this market. If commoners stop going into this market, that will be for these corporates and not for the governments asking to pay tax. Corporates know how to take control over anything and that dirty game will be attempted in the crypto market as well.

they will take over the market and all the prices of the coins listed in the cmc will go way higher so commoners will have no chance of buying one because what commoners can afford is just memecoins. this is why as of this time, they are putting it in the minds of the GenZ that what matters in the world of crypto is memecoins. forget BTC, it's nonsense and it's regulated and the fee is ridiculous.

yes its true crypto has changed over time. we are now, KYCed completely.

avikz

legendary

Activity: 3080

Merit: 1500

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 a symbol of growth! Whenever the common people have done something extraordinary, governments always came sniffing in to get their cut. That's exactly happening in the crypto world as well. Initially no government had thought that crypto can indeed become so valuable. But when they did, governments around the world, are now trying to get their cut from our income. That's always happens!

But I am more concerned about deep-pocket corporates getting into this market. If commoners stop going into this market, that will be for these corporates and not for the governments asking to pay tax. Corporates know how to take control over anything and that dirty game will be attempted in the crypto market as well.

Jegileman

sr. member

Activity: 532

Merit: 250

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,. 

Governments can’t see and be watching on something that will want to compete with their system and not take action on it. Bitcoin was meant to serve as alternative to traditional fiat money, but its coming and mass adoption has made it seen as a competitive option in the financial market and that’s why government is taking strict action on it.

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?

When the people have found a means of earning and survival in this, I don’t think they will want to leave it to the wealthy people only, they rather stay and enjoy the benefits of it together.

Quote

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?  

If the average of people have patience in this quest, they will always want to forget about the difficult aspect of it and look for ways to tap into the long term benefits of bitcoin. Everything is a gradual process and because their are hurdles on your way to success doesn’t mean you can’t achieve that success.

bittraffic

hero member

Activity: 3038

Merit: 617

Gone are the wild wild west days of crypto they say. It's almost regulated in all countries and all exchanges do have KYC already. But I don't think only the rich will be in crypto, there's still us here trying to earn a few BTC and still betting on casinos.

But for sure they rich like those from traditional finance are going to come into crypto especially because of the Reaal world Assets that they are tokenizing. It's not usual anymore that users may be promoting platforms everywhere in crypto maybe we will see BTC on TV commercials.

Zlantann

legendary

Activity: 1050

Merit: 1100

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?

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?  

One important advantage of Bitcoin is that it can be bought in bits. Which entails that regardless of how high the price is, the average or poor citizens in the society will still have the opportunity to buy it. The transaction fees and stringent regulatory laws are making things a little bit difficult but Bitcoin will still be the first choice in the crypto space.

Quote from: Yamane_Keto on April 24, 2024, 10:18:36 AM

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.

That's true. But many people don't have the financial capacity to keep Bitcoin as an investment, they easily sell it to meet their needs. You should also take into consideration that Bitcoin is not legal in all countries and most businesses are not accepting it as a means of payment.

B1-66ER

jr. member

Activity: 59

Merit: 27

BTC>Bitcoin != Crypto.

Baghdad

jr. member

Activity: 31

Merit: 7

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

hero member

Activity: 644

Merit: 661

- 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

hero member

Activity: 406

Merit: 443

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

hero member

Activity: 1386

Merit: 513

Payment Gateway Allows Recurring Payments

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

legendary

Activity: 2870

Merit: 3873

Paldo.io 🤖

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

legendary

Activity: 3164

Merit: 1127

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

hero member

Activity: 3080

Merit: 603

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

member

Activity: 512

Merit: 33

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?  

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