Interesting how taiwan takes an opposite stance from china..
I do think this regulation is necessary though. If they dont put some kind of regulation on btc, money laundering would be impossible to stop. Especially since its price is gaining momentum, it's becoming the perfect tool for laundering. If this works, maybe other governments would be more lenient on welcoming bitcoin.
LOL. Don't be surprised dude. We all know that the relationship of this 2 countries are really sour from the beginning because of geo-politics (China thinks that Taiwan is their province). So it makes sense that Taiwan will not follow anything that the Mainland will do because they are a sovereign nation (and not a province). That's why Taiwan is one of the friendliest nation in Asia with Bitcoin ATM (if I'm not mistaken). So as far as regulations, yeah its fine as long as government and people can work together then its a win-win situation for us crypto enthusiast specially our Taiwanese community. I guess you're right. Opposing laws is one way of throwing shade  . And yes they do have an atm machine. Last time i checked there was only one but that was a few months back. Them acknowledging bitcoin though means they're expecting it to be more popular soon. |
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Interesting how taiwan takes an opposite stance from china..
I do think this regulation is necessary though. If they dont put some kind of regulation on btc, money laundering would be impossible to stop. Especially since its price is gaining momentum, it's becoming the perfect tool for laundering. If this works, maybe other governments would be more lenient on welcoming bitcoin.
Why the obsession with money laundering? If something is illegal, why not stop the illegal act instead of prostituting the currency as a Big Brother crime-fighting tool? This is how money laundering is stopped. You do it by flagging suspicious transactions. There are still lots of ways you could maintain your anonymity because in the end of the day they're not really regulating crypto they're regulating fiat. That's why it's a bank level regulation. |
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It is good from the perspective that it means cryptocurrency is generating enough attention and investment to warrant the government paying attention to it. It will likely "regulate" it and set "standards" for it, which for some people will provide more of a reason to trust it and make it even more popular.
The downside is that the regulation and government authority will make cryptocurrencies dependent on government to some extent, which is antithetical to the principles that Bitcoin and many cryptocurrencies were founded upon. The more this authority over cryptocurrencies evolves, some day cryptocurrencies may build government back doors right into the architecture. You might say that you will only use open-source cryptocurrencies and you will know when they do this, but if the public is okay with the government regulating and dominating cryptocurrencies, they can push closed source cryptos with nary a peep.
I agree! But it doesnt always have to be dependent to them. They could indirectly regulate bitcoin by regulating exchanges, business and miners that operate within their jurisdiction. They dont necessarilly need to touch the software. For me those regulations are fair because they obviously need to tax businesses and they obviously need to stop money launderers. And those are impossible to do without the proper regulations. |
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I am fairly new to the crypto world. During my short time, I have contemplated how crypto will go down over the next few years.
Slowly, over time more regulations will be adopted worldwide. This is not because regulators are scared that people are getting scammed, but because they will start limiting this world from us small fish so the banks and "qualified" investors can tke over. All the large banks will then push their own crypto, and we will be left with nothing.
In my opinion, it is in our best interest to gain enough profit so we will have the funds to become qualified investors, and be able to re-enter the markets through the banks exchanges.
What does everyone else think? Do you think the big fish will continue allowing us to do trading long term, or are our days numbered?
I think that the big fish(banks,corporations,big crypto whales) will always need small fish like us,so they could increase their profits by manipulating the markets.All the newbies,who invested their small savings into crypto just don`t know how to trade and they just follow the crowd.When the prices crash,they just start panic selling and the "big fish" make big profits.I assume that 1 of every 100 traders/investors,can succeed and become a "qualified investor",like you said.All the other 99 just fail.The market just produces more inequality. This is true. The big fish couldnt make profit without the small fish. Manipulating the market is useless if you're the only one in the market. And i dont think regulations will point limiting access to small fish. That's the beauty of it, no one could really limit the use and besides, limiting the use of the small fish makes it less useful to the big fish. |
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We need regulation to have some sort of acknowledgement of what crypto is on the law. Besides, the current success of bitcoin as digital gold, makes money launderer hard to stop. There must be a regulation atleast on the exchange level for now.
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I think this is too early for High school students but the right time for college students, but overall this is great for the crypto community. This will certainly affect the future of Crypto currency market, since they have at least a basic knowledge how blockchain works. Unlike the older people today that has a closed mind thinking that Bitcoin/altcoin is just another scam. This students will be the future investors and will surely make the crypto currency market stay for the future.
I dont think it's ever too early to teach about crypto and finances. I mean according to the article the class isnt solely about crypto. Which is good. I think they should focus more on the economic side rather than the science part. Learning to invest in crypto is learning too invest in everything else. So i think this is a good step. |
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I dont know if it is just me or others also experience it. I always set goals financially, set limits in spending and trying hard to save but most of the time no matter how i tell myself to refrain from spending in unnecessary things whenever i see something i really like even if i dont need it i cant resist buying it that cause me to regret later. Are you familiar with this situation?
It's important that you give yourself a realistic expectation. If you dont you'll continue to break it and have the "what the hell attitude". Because once you fail to maintain your daily allowance goal, you'll be more inclined to spend. Self control isnt easy it's a learned skill! For me it's convincing myself that some of my money dont exist and i save that money. |
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I believe the ICOs market will eventually reach its equillibrium. It just requiers some time to develop internal institution of reputation which will work on elimination of scammers.
I completely agree. Right now they're slowly drowning themselves in their own noise. The more that emerges the more reputation they will lose. Although it's hard to tell when that equilibrium will be reached. Especially since the concept of crypto is still pretty new to a lot of people. The slow adoption of crypto is a reflection of how slow we are progressing to equilibrium. |
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With the current adoption im not sure if it could do either. Maybe in the future it could do either? I mean it could boost the economy by giving more opportunity to people while at the same time it could break it because the government couldn't manipulate it on its favor.
Atleast right now, i dont think the government is particularly concerned of bitcoin and its impact on the economy. I think what they're really worried about is how it helps money launderers.
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Interesting application on improving digital rights management. The article doesn't really explain well the current shortcomings of the current drm system. I mean it does say that it would fail if the system ceases activity, but that's also true if they use the system to run blockchain. I guess they're talking about taking advantage of the decentralization of block chain?
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Interesting how taiwan takes an opposite stance from china..
I do think this regulation is necessary though. If they dont put some kind of regulation on btc, money laundering would be impossible to stop. Especially since its price is gaining momentum, it's becoming the perfect tool for laundering. If this works, maybe other governments would be more lenient on welcoming bitcoin.
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This is interesting. It just shows how far we must go for adoption. I guess for now, bitcoin just needs more uses. Like more stores accepting it. Easy to use software should also be developed to make it accessible for everyone.
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That's true. Especially because you need a good understanding of the technology itself to identify crap coins to good ones. It's really hard too since most media covering cryptos have a poor understanding of it. They're mostly overselling it like it's always the new big thing. You need to be able to get information yourself to be ahead of others.
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it's concerning in a way that there are lots of exchanges being hacked now a days. If the government would require them to to implement such measures they should also take steps on making sure that the data we give them remains secure. However i do see why it's necessary. It's probably the only way to combat money laundering.
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This is good because it's also an indication that cyptos arent necessarily a threat to the governments but the banks alone. Which means that it is possible to get fair regulations that actually prioritizes the safety of the people rather than the government profit. This is indeed heart warming. The feeling that was given out until now was that the establishment - governments, regulators, banks, courts, were all ganging up against innovation. If a Chilean Bank indeed asks banks to re-open accounts, then it is good news. The banks might still find ways to sabotage this (For Eg - Charge unreasonable fees), but they will know that the exchanges might decide to go to court again.
You're right though. Having lots of resources means they could endlessly attempt to sabotage them. But it's good that they won this one fight. Hopefully the government maintains its position. |
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I guess crypto is just too hard to resist. This is a good thing though. It's an indication that the winds are shifting in favor of the the cryptos. Them adapting, means that survival means accepting acknowledging cryptos. Additionally, more exchanges means more competitive prices! hopefully.
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Being from china, does this mean that we're going to see a new formidable force in the cryptospace? Being china, they could control its market and have an unfair advantage over all other coins
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Bitcoin is in its early stages and so far it's not yet capable of "disrupting" the economy. What it is now is a new opportunity. Governments shouldn't close this door immediately because obviously it does bring some economic stimulation. That's basically the stance of india and some other countries. It's too early to ban and there's still too many factors to figure out to bring an effective regulation. So in short i dont think it's currently gound breathtakingly disruptive because of its low adoption.
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Im not sure how both could be combined. I mean individually they already make a huge impact. Blockchain stores the information securely and AI reads through the information. With the explosion of data both just became so important. And both will be used in different ways. I do agree though. The trend show that both will play a huge part in the future and will pretty much define the economy.
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A society cannot be called completely cashless society even if it is mostly using digital money. We cannot still deny the fact that we need the paper money to regulate the economy of our country and to identify us that the currency we are using is belongs to that society.
well the economy stands on debt that's basically not even backed by anything. Meaning we dont need "cash" to regulate the economy. We just need to make more debt. Although i do somewhat agree with your point though that cash plays a certain role in ones culture. |
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