Block Chain eliminates regulators

[Theb]

I always wonder what might be the reason of centralised authorities not accepting the power of Decentralization and then found the reason

You might probably looking at it in the other way. The government is not against or concerned in decentralization per se but the ones involve with it. If you have seen in the news already the problem the government is having on regulatiion is not about the cryptocurrencies itself but the criminal activity involve with it. Having a decentralized cryptocurrency circulating around the world made it enticing to a lot of criminals to take advantage of the situation and until now they are profiting from it. The government is facing a dilemma on how they will handle such problem at the same time their citizens can freely benefit from these cryptocurrencies.

[Osayo]

I always wonder what might be the reason of centralised authorities not accepting the power of Decentralization and then found the reason,if so decentralization becomes the only means for the transactions then most of the regulators and authorities might be jobless and so they are putting maximum to let down this technology by creating a hype that all the crypto currencies are scam and you can making nothing out of them investing,so we Crypto enthusiasts need to put our maximum efforts to empower decentralization .

You need not wonder about this. An average human being wants to have that power and control over others and everything that surrounds him/her. The battle of accepting decentralization by the government authorities may still be on for a long period. But I know, the best option, which is decentralization will be accepted in the end.

[UNOE]

I always wonder what might be the reason of centralised authorities not accepting the power of Decentralization and then found the reason,if so decentralization becomes the only means for the transactions then most of the regulators and authorities might be jobless and so they are putting maximum to let down this technology by creating a hype that all the crypto currencies are scam and you can making nothing out of them investing,so we Crypto enthusiasts need to put our maximum efforts to empower decentralization .

I wouldn't say that centralised entities are necessarily going to be eliminated by blockchain technology or cryptocurrencies.

The fact of the matter is that blockchain technology can and is being integrated into business systems, including central banks of certain countries currently trialling the technology, and cryptocurrencies will still have centralised third party services such as banks in the future, if they do go mainstream.

As a result, there will also be regulators which look after the third party services that uses cryptocurrencies or blockchain no matter what, despite the fact that they will never be able to "regulate" the bitcoin network itself.

The main reason why I think a lot of centralised institutions oppose bitcoin is obviously that they are concerned that control will be moved away from them, and that a lot of older generation financiers still don't fully understand the concept of decentralisation.

I agree with you, also I would like to add the fact that most of people today does not want or does not know how to control their finance stuffs without banks, so we need firstly to educate peoples about benefits which decentralization gives to us, and responsibility which comes with that.
I also believe in technology improvement which must bring these benefits easly and simple to understand for end user.

[santiPOGI]

Even blockchain can't eliminate regulators.
Regulation is about the country who wants to have the rules and regulate the system.
why they want to do that? we should understand it as every country needs regulation to protect everyone's economy and development from taxes.

[LeGaulois]

Really? What road the cryptocurrencies are going to recently? Regulations. As you can see blockchain isn't helping at all with our current financial system. As long we 're not able to pay bills, food etc we will always need to switch our coins to fiat. And we don't need more to be "eligible" to the government control.

[Indrawan77]

It could be, but mainly the reason is because the government don't want the people to be unsupervised, the government want to taxed everything, at one point the overused of crypto could make the economic become bad because there won't be enough transaction volume for the fiat, but actually blockchain doesn't need to eliminate regulators, it can help the regulators to checking things, blockchain is a very useful technology that was design to help people in transparency transaction

[ajaymukund]

I always wonder what might be the reason of centralised authorities not accepting the power of Decentralization and then found the reason,if so decentralization becomes the only means for the transactions then most of the regulators and authorities might be jobless and so they are putting maximum to let down this technology by creating a hype that all the crypto currencies are scam and you can making nothing out of them investing,so we Crypto enthusiasts need to put our maximum efforts to empower decentralization .

I understand this. It is very difficult for the decentralized industry to thrive. A decentralized market needs to be managed more closely because it is involved in many countries around the world. Currently we do not have the tools to manage this market. Do not worry, the crypto is just such a trivial level. because very few people like a decentralized market like this

[jimbo2000]

I always wonder what might be the reason of centralised authorities not accepting the power of Decentralization and then found the reason,if so decentralization becomes the only means for the transactions then most of the regulators and authorities might be jobless and so they are putting maximum to let down this technology by creating a hype that all the crypto currencies are scam and you can making nothing out of them investing,so we Crypto enthusiasts need to put our maximum efforts to empower decentralization .

You are right.All the regulation clerks/centralised institution clerks will lose their jobs,if the blockchain gets adopted worldwide.This is something normal.The technology progress leads to short term unemployment of all those people with inefficient productivity.They could try to find new jobs, off course.

I don't think the government will really put up much of a fight for them. But for their own interests I think that they would. They do not trust the people to do what is best for themselves, after all isn't that why we have a government in the first place? This government is the one that empowers the regulators and authorities to act within their best interests. If suddenly we have control of all our own finances and spending then it could begin to spiral from there as we (the public) consider what else we've never had control over that we might be able to control better ourselves.

[rickadone]

Regulations are really killing it lately. I mean the regulations giving to exchanges and how it should be run is really limiting the anon part of the deal. We are forced to give our information if we want to do any decent amount of trading and I understand that there could be some money laundering going around in bitcoin but exchanges are really giving everything governments wants from them.

Look at all the casino world, online casinos are doing the Malta route or similar no-nonsense places in order to avoid those type of regulations, maybe exchanges should start looking at that kind of stuff as well. With these heavy regulations the market can't really take off because really rich people are afraid of joining bitcoin while staying hidden. Regulations should only apply to new ICO's which really needs regulations to begin with.

[mummybtc]

NO, it does not. I don't think some peope know how powerful Government is, the sole reason BTC survive is because there is no centre point of failure which is the creator, assuming we know the identity of Satoshi BTC will be dead by now, this is what most of this new developers in the space can't let go because they want to be the focal point of their project. How many project in the space will you say is truly centralised?

[Assface16678]

Very narrow view, not all goverments are trashing Bitcoin and cryptocurrencies. A lot of goverments are going to make regualtions for this industry becaue they are needed.
And no block chian in general does not elimante regulations.

A clear point indeed. It would be veru benificial for both parties, the government and the crypto currency, if this will e legitimate. And this will going to happen if their will be some sort pf rules and regulations regarding to this. But then some cryto uzers think that it is not a gold idea because the characteristics will be gone and this is not a good thing.