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Author Topic: WHY PANIC? Regulation talks are positive  (Read 451 times)
preshpr1nce
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March 18, 2018, 12:26:29 PM
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 #1

People are in a bit of a panic at the moment, talking about regulations and bans on crypto, perhaps they don't understand all of the information coming out about the G20 or they simply don't read and just assume.

So far, the talks coming from European countries, Japan, the IMF and the likes are all on the same page, it's a positive technology that needs soft regulation so it can grow and develop, they've even stated a ban would be the worst outcome to this and no one is pushing such an agenda, from my take they want it to succeed yet they're just concerned about money laundering, the whole talks seem to be focused on how to prevent money laundering without restricting the growth of this technology, the head of the IMF Christine Lagarde is saying the same technology blockchain uses to authenticate transactions can also be used by regulators to track movements and prevent laundering or illegal activity, I've said before in other threads that a more open DLT or a way to track it would actually make bitcoin harder to launder than fiat, you would have a complete track record of the movements from each transaction, something which is impossible with a bit of paper and something you would expect to see in any future currency, more reading here:

https://www.coindesk.com/imfs-lagarde-track-cryptos-with-blockchain-to-fight-fire-with-fire/

Other countries have said regulation is required at an exchange level, requiring ID checks to purchase/sell crypto, where I live this is already in place and it works fine, I can buy and sell crypto freely just like the non regulated countries and all I had to do was provide ID, if you use this for illegal activity then you'll suffer, but are we really concerned about these people? I'm not one bit.

Between ID requirements and monitoring of transactions, does this really change anything? Sure, it'll shut up all the FUD about it being banned and what not, for people who are trading it or using it for legal activities not one thing will change for you, this just ensures the longevity of crypto, it's something WE NEED, it will also bring a ton more security to your assets, if some one hacks your wallet and moves bitcoin around 20 times it won't matter, the history of each transaction will bring it back to the thief and they'll pay the price.

To think we'll have this free for all currency with no regulation is crazy, it's inevitable, the outcome could of gone 2 ways, countries trying to ban it or countries trying to track it, you've got the head of the IMF saying it's positive technology and we just need to control laundering, why are people reading this as negative news and creating panic?

Anonymous coins will be the grey area here, I couldn't care if regulation comes in where exchanges are no longer allowed to list these coins, I would much rather see stability and longevity than the desire for anonymous transactions.

Once these measures come in nothing can stop it, you're now sitting at a chance to get in cheap, I know people who won't go near it due to it's lack of regulation, once it's regulated it'll blow up and we will see a ton more people jumping on with confidence.

So what do you all think? Other news like google and facebook banning ICO ads is meh at best, who cares, this impacts nothing other than another reason to FUD.

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March 18, 2018, 12:30:06 PM
 #2

Well it depends on the level of regulation. If they severely restrict who can transact or even outlaw bitcoin then we could be in trouble. Banning or restricting ICOs would also have a negative impact because a lot of the money transacted inc cryptos is being fueled by ICO investment etc. If suddenly they become a heavily restricted market with KYC regulations etc then a lot of them will die off or find it hard to get investors.
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March 18, 2018, 12:46:36 PM
 #3

Well it depends on the level of regulation. If they severely restrict who can transact or even outlaw bitcoin then we could be in trouble. Banning or restricting ICOs would also have a negative impact because a lot of the money transacted inc cryptos is being fueled by ICO investment etc. If suddenly they become a heavily restricted market with KYC regulations etc then a lot of them will die off or find it hard to get investors.

That is pure speculation though rather than following what's coming from the talks, no one wants to outlaw it, they are clearly saying they want to encourage it's growth while protection against money laundering, you can google "g20 bitcoin talks" and filter over the last week to see what other countries are saying, they've also pretty well agreed regulation will be left up to countries and no international approach will work.

ICOs will also require regulation just like IPOs do, also required to stop all these run away scams, if you can't afford the money required to get a license or take the steps required under ICO regulation then why should investors take you seriously? too many scams, measures to prevent this are needed and a good thing.

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levvv
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March 18, 2018, 01:40:58 PM
 #4

Yeah, peoples seems to be panic. i don't know the fud that was spread.
but i suggest all of us to keep calm and holding. because if we holding, the price on the market won't go worse.
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March 18, 2018, 02:12:39 PM
 #5

Well it depends on the level of regulation. If they severely restrict who can transact or even outlaw bitcoin then we could be in trouble. Banning or restricting ICOs would also have a negative impact because a lot of the money transacted inc cryptos is being fueled by ICO investment etc. If suddenly they become a heavily restricted market with KYC regulations etc then a lot of them will die off or find it hard to get investors.
Those restrictions will help us, after this banning , we can say that it is much safe to invest now, and secured to join or buy coins. It will help us soon to filtered those who are legit and really have value. We should think positive now.

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March 18, 2018, 02:23:15 PM
 #6

We cant control everyones emotion. Yes there are people that immediately believe on what they have read or saw and we cant argue with them because it was their opinion and we have to respect that
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March 18, 2018, 02:30:15 PM
 #7

All we can do is wait util this dilemma is off and leave us for the good. Anyhow It's better regulating than a total ban in crypto in certain countries. I know we can still make a full comeback or even just little steps by steps until we are back on track. Even they ban crytpo in a specified area or region there will always be rebellious people who are taking the risk and continues to trade and engage.
People have different kinds of approach and we might say they are tired of waiting and dumping their coins leaving nothing, I hope there will be time when they realized that this was just the beginning and we are entering an era where Blockchain will be widely used and that time they can celebrate for holding and supporting the cause.
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March 18, 2018, 02:41:37 PM
 #8

It will settle all down after regulations being implemented. It is the next logical step towards a new usable system, practical for people and for governments and maybe banks.
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March 18, 2018, 02:50:31 PM
 #9

If people are panicking and dumping their coins because of the G20 and all the FUD around this event, then it's very unlikely that they're gonna take at least 5min of their time to read about the benefits that regulations can bring to the crypto market, meaning that panic sellers (and whales, can't forget the whales shorting) will keep tanking the price. At least you're trying to raise awareness about the G20 summit so kudos to you.

Well it depends on the level of regulation. If they severely restrict who can transact or even outlaw bitcoin then we could be in trouble.
It is very unlikely that a decision to outlaw bitcoin will go through, mainly because Japan and USA will take a pro-bitcoin stance while still trying to reach a resolution about KYC/AML and other regulations...it's all speculation, though.

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March 18, 2018, 03:03:44 PM
 #10

I think majority of people that are now into cryptocurrency just want to take profits. They still prefer the use of fiat currency. So when these FUDs spread around the internet, they exit with their profits and that's what we see as panic selling. But in fact they're just playing along with the news and the market to make profit.

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March 18, 2018, 03:05:37 PM
 #11

That is unadulterated hypothesis however instead of following what's originating from the discussions, nobody needs to prohibit it, they are plainly saying they need to empower it's development while security against illegal tax avoidance, you can search about the g20 bitcoin talks and channel in the course of the most recent week to perceive what different nations are stating, they've likewise truly all around concurred direction will be surrendered over to nations and no global approach will work.
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March 18, 2018, 03:08:02 PM
 #12

Yeah, peoples seems to be panic. i don't know the fud that was spread.
but i suggest all of us to keep calm and holding. because if we holding, the price on the market won't go worse.

     So there's nothing to worry about,they are all talking for the better regulation of the cryptocurrency and this is a very good sign of the btc to be use globally.
      This is near to the success of bitcoin as international currency.
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March 18, 2018, 03:13:00 PM
 #13

That's absolutely something i do not understand. Some of these powerful countries have began to give some great news about bitcoin. The news coming signifies that the future of cryptocurrencies is bright and i still don't know where people are getting all these fake news and causing them panic.
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March 18, 2018, 03:21:51 PM
 #14

Most likely the world will accept crypto currency. There is no point in barring it. Individual states understand this and make appropriate decisions.
If someone from the G20 starts using it, then other countries will move on to them.
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March 18, 2018, 04:06:19 PM
 #15

I read something in some other thread and I liked it very much, so let me use it here for the sake of this discussion (the disclaimer: the idea is not mine). The thing is that what is needed and welcome is customer protection (like protecting against scam ICOs, crypto theft etc). But regulation is usually meant in much broader sense and includes taxes and ways to actually limit the use of crypto, and that I oppose.

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March 18, 2018, 04:09:26 PM
 #16

I am very optimistic that the  upcoming G20 meeting will come out positive as regards the regulation of bitcoin, I hope all the deliberations taking place will stimulate the price of bitcoin so that fears surrounding the  sudden drop in the price of bitcoin will cease and reduce the tensions of panic sellers.

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March 18, 2018, 04:14:00 PM
 #17

So this will be the conclusion despite all the fights.
ICO's have done a great deal of popularity that made the bitcoin seen too much and now they want it too.
I thought it will just be the ICO's that will be affected and now it looks like everyone should be known in any crypto currency. Even the bitcoin mixer will not be helpful here, so they will run out of jobs.
What is the use of a private transaction now? It will just be the same as staying with the banks. Then we dont need bitcoin anymore.

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March 18, 2018, 04:17:06 PM
 #18

I am very optimistic that the  upcoming G20 meeting will come out positive as regards the regulation of bitcoin, I hope all the deliberations taking place will stimulate the price of bitcoin so that fears surrounding the  sudden drop in the price of bitcoin will cease and reduce the tensions of panic sellers.

But I do not think so what happen in G20 meeting about discussing bitcoin and ICO project. There are many people waiting to get the positive news like you have said here. Since all the crypto currency dumped in the market. If there are any negative move we will find the bitcoin and other cryptos value falls along with together.

Hope there is no any big regulations on the bitcoin from any country and lets some countries comes with the bill accepting the bitcoin as a legal money to use.
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March 18, 2018, 04:17:53 PM
 #19

No country is crazy enough to ban a technology that is going to revolutionize the world and is the future. The amount of money invested in the crypto markets is astounding and banning bitcoin is going to create chaos in the real world and the amount of money people will lose is tremendous.



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March 18, 2018, 04:28:05 PM
 #20

People are in a bit of a panic at the moment, talking about regulations and bans on crypto, perhaps they don't understand all of the information coming out about the G20 or they simply don't read and just assume.

So far, the talks coming from European countries, Japan, the IMF and the likes are all on the same page, it's a positive technology that needs soft regulation so it can grow and develop, they've even stated a ban would be the worst outcome to this and no one is pushing such an agenda, from my take they want it to succeed yet they're just concerned about money laundering, the whole talks seem to be focused on how to prevent money laundering without restricting the growth of this technology, the head of the IMF Christine Lagarde is saying the same technology blockchain uses to authenticate transactions can also be used by regulators to track movements and prevent laundering or illegal activity, I've said before in other threads that a more open DLT or a way to track it would actually make bitcoin harder to launder than fiat, you would have a complete track record of the movements from each transaction, something which is impossible with a bit of paper and something you would expect to see in any future currency, more reading here:

https://www.coindesk.com/imfs-lagarde-track-cryptos-with-blockchain-to-fight-fire-with-fire/

Other countries have said regulation is required at an exchange level, requiring ID checks to purchase/sell crypto, where I live this is already in place and it works fine, I can buy and sell crypto freely just like the non regulated countries and all I had to do was provide ID, if you use this for illegal activity then you'll suffer, but are we really concerned about these people? I'm not one bit.

Between ID requirements and monitoring of transactions, does this really change anything? Sure, it'll shut up all the FUD about it being banned and what not, for people who are trading it or using it for legal activities not one thing will change for you, this just ensures the longevity of crypto, it's something WE NEED, it will also bring a ton more security to your assets, if some one hacks your wallet and moves bitcoin around 20 times it won't matter, the history of each transaction will bring it back to the thief and they'll pay the price.

To think we'll have this free for all currency with no regulation is crazy, it's inevitable, the outcome could of gone 2 ways, countries trying to ban it or countries trying to track it, you've got the head of the IMF saying it's positive technology and we just need to control laundering, why are people reading this as negative news and creating panic?

Anonymous coins will be the grey area here, I couldn't care if regulation comes in where exchanges are no longer allowed to list these coins, I would much rather see stability and longevity than the desire for anonymous transactions.

Once these measures come in nothing can stop it, you're now sitting at a chance to get in cheap, I know people who won't go near it due to it's lack of regulation, once it's regulated it'll blow up and we will see a ton more people jumping on with confidence.

So what do you all think? Other news like google and facebook banning ICO ads is meh at best, who cares, this impacts nothing other than another reason to FUD.

Just speculations. What if they intend to impose strict restrictions and demands that all users of crypto should register their personal dats so that they can be monitored? I think the focus of the crypto talks is to lessen scams and prevent money laundering like you said. But surely, they will try to put tax on it.

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