SEC hearing today and regulation: good news for the long run?

[tales_of_the_crypto]

As I understand regulation is on the way for crypto. For hardcore "new age" cryptoheads wearing guy hawks masks and browsing dark web with their morning coffee, it's probably not a good news that the guys who faked moon landing and lied us about earth being round get their filthy hands on their precious crypto. For general public interested in crypto I think it's a good news tho.

Mostly because regulating it gives a definite signal that crypto is not a scam or a ponzi scheme with inherent value of 0 USD (as some retard "experts" are trying to convince us when spreading their verbal diarrhea). If it was, they would just ban it instead of regulating it, right? Regulation means gov accepts the fact that crypto is a thing and it's here to stay. Definitely good for long run and mass adoption.

[1715251909]

1715251909

[1715251909]

1715251909

[MV7]

Regulation will definitely give crypto more legitimacy. Becoming a taxable asset like it has in other parts of the world have led to more widespread use and adoption. The only thing i'm worried about is that governments will try to control it too much.

[visiblehand]

Seems very likely that this will end up not being a good thing.  The more established cryptocurrencies become BEFORE government regulation becomes excessive, the more chance that the future of crypto won't be controlled and limited by government's attempt to control it. 

[enhu]

If the price keeps draining, it will almost appear like they are winning the game. With the current price they sure can dominate it all by buying the entire circulating btc in the market. A lot of those whales who can afford will take this as good news but not for those who can't. Its like these people are playing like whales in the market.

[milewilda]

If the price keeps draining, it will almost appear like they are winning the game. With the current price they sure can dominate it all by buying the entire circulating btc in the market. A lot of those whales who can afford will take this as good news but not for those who can't. Its like these people are playing like whales in the market.

As expected government does really want to control everything since they do have the capability on manipulating or even purchasing large sums of bitcoins and that time they would decide to regulate it since they do have the bigger holding into others. Sound sucks for us small players or investors in the market when big players sets in. I dont know on whats the feeling on seeing bitcoin is regulated in all ways and even its still on decentralized state it cant really be considered as a ponzi scheme just like on what being mentioned on OP.

[tales_of_the_crypto]

Some good news at last:

http://bitcoinist.com/chairman-cftc-might-just-brought-bitcoin-crash-end/

[alyssa85]

Someone has done a reddit thread summarising the hearing:

https://www.reddit.com/r/BitcoinMarkets/comments/7vp809/watched_the_us_senate_hearing_on_regulating/

The gist of it is that they think existing rules are enough to deal with scammers (and that they have already shut down some scammers).

They also think that the tech is promising and stomping on it might inhibit progress. They also think the crypto space is too small to pose a threat at the moment and want to take a wait and see approach and only act if it goes horribly wrong.

[Pleione527]

If regulations will help crypto to become more stable in the future then I would be happy with this news. It is true legality issue of crypto is something that needs to be settle since government does not support many exchanges people thinks bitcoin is illegal. But beacause of this new there is a higher chance that government finally show support over crypto currencies and can make the econony move to digitalization.