Block Chain eliminates regulators

[Ramya494]

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 .

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[Kemarit]

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 .

That could be one part of the equation but their main concern should be decentralization eliminates third party i.e banks, so imagine the profits they're going to lose in case they allowed Bitcoin to flourish in the next 10 years or so. That's why they wanted to at least minimize or cut crypto as early as today so that they're profit making scheme will continue and not giving the people any options. So that's how monetary system has been doing to us for centuries, totally enslaving us.

[magneto]

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.

[mazdafunsun]

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.

[timerland]

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 .

Who told you that blockchain would make regulators redundant?

I don't think that is true honestly. Yes, it does take away the intermediaries out of transactions and settlements, which is obviously an advantage since there is no risk in terms of banks freezing funds or not processing payments, on a global scale especially.

But regulation is still going to be there. Blockchain can't be regulated itself, but certainly exchanges and other companies that offer a product revolving around blockchains are still going to be regulated. We're actually seeing a lot of governments right now actively trying to monitor and regulate the crypto trading scene at the moment, which is quite controversial in terms of its results.

[Domicbora]

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 .

Bitcoin is already taxed and almost everyone in USA pays taxes for the profits they made from the bitcoin trades (I mean some people don't but there has always been tax evaders). Hence decentralized means nothing when it comes to regulators. Regulations for usage is not based on decentralized ideas, regulations are about how they can regulate the way you use it and how you should pay taxes and how you can't do illegal stuff with it and so forth. Decentralized means they can't touch bitcoin, they can't touch bitcoin itself not the bitcoin you own, they can take your bitcoin just fine but can't make bitcoin 210 million instead of 21 million, can't make the blockchain 1 gb per block, can't make transactions come to a halt. Basically decentralized is not a way to run from regulations but a thing to keep it untouched by any one person with power.

[jimbo2000]

Decentralization doesn't eliminate regulators but it makes their jobs much harder to do. They don't have control other than through the law. Unlike with traditional markets where they can for example, confiscate or freeze assets, they are powerless. They are only able to impose the law and hope that people follow it.

[FunGate]

The motivations are many and impossible to be certain of, but one thing you said is definitely true: "crypto enthusiasts need to put out maximum efforts to empower decentralization."

In a decentralized world, the public has complete control over what happens and is dependent on itself alone for its prosperity or demise. No one is going to give us freedom we have to take it!

[PlusOne88]

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 am not against your ideas but honestly you missed some important things to look at why authorities are really trying to stop or regulate the use of cryptocurrency. The main reason of all and the biggest is the effect it can cause to a certain economy. You know how cryptocurrency can be used to transact between people being limited by boundaries so easily. Money can be at hand anytime anywhere but these may not be good to a country who losing too much money true expenditures that might not be so necessary at the moment and thus creates wastage on the part of resources held by the said country. This is why there must be regulations for the good of all and not just for a few. Though I don't like this either but this is also the reality to face.

[Jiamaf]

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 that centralised regulators such as SEC is necessary so that we will not get scammed by ICO. Currently, most ICO are scams.

[olubams]

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 .

Decentralisation is a a great one and the main reason is control which is why the argument against crypto currency has been on the high side and its really simple. Majority of people of relevance in the finance world are already used to the principle that only regulated environment can thrive and every other thing outside that is not sustainable and unfortunately for us, people who hold this view are the ones are the helms of affairs of most countries which is responsible for the continuous downplaying of the various efforts of enthusiasts.

[ibrayzorhaf]

in my opinion the events that occurred at this time were mostly manipulated by influential people in the world because of open decentralization, they could set prices as they pleased. and supported by superpower countries that have a big influence in it.

[shield132]

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 .

Well, blockchain technologies are well accepted for governments, it's integrating in a lot of services, both from governments (for example land registry) and from commercial/non commercial organizations. Walmart is integrating BC technologies and etc, read articles on cointelegraph.
And government don't like crypto because they can't control it, this is not so hard to understand.

[Dimon8]

The motivations are many and impossible to be certain of, but one thing you said is definitely true: "crypto enthusiasts need to put out maximum efforts to empower decentralization."

In a decentralized world, the public has complete control over what happens and is dependent on itself alone for its prosperity or demise. No one is going to give us freedom we have to take it!

You correctly noticed, no one will give us decentralized freedom. The process of globalization of the whole world is going on in all spheres of life, including the blockchain technology. In the blockchain technology attracted billions of dollars, and where there is always a lot of money regulators.

[Ranly123]

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 .

Then how are we going to put our efforts to empower decentralization? I know it's good to having decentralized but we have tules to be followed as a citizen of out nation. Whether we like it or not, it's the government who has the power to change what is the most convenient to their people.

[1Referee]

I know it's good to having decentralized but we have tules to be followed as a citizen of out nation. Whether we like it or not, it's the government who has the power to change what is the most convenient to their people.

Governments have the power because you gave it to them.

I'm not at all against governments and every law, but in some cases you have to follow your own path instead of blindly following that what a bunch of people you never met think is good for you to follow. Bitcoin is a tool allowing you to choose for yourself, because nothing can be done against your wealth in Bitcoin. That's what I consider to be power. Wish more people appreciated this revolution more than their silly gains.

[jimbo2000]

I know it's good to having decentralized but we have tules to be followed as a citizen of out nation. Whether we like it or not, it's the government who has the power to change what is the most convenient to their people.

Governments have the power because you gave it to them.

I'm not at all against governments and every law, but in some cases you have to follow your own path instead of blindly following that what a bunch of people you never met think is good for you to follow. Bitcoin is a tool allowing you to choose for yourself, because nothing can be done against your wealth in Bitcoin. That's what I consider to be power. Wish more people appreciated this revolution more than their silly gains.

There is a caveat on that however. And that's that bitcoin must be demanded and spendable. There is no use having a fortune of wealth locked up in something that you cannot spend. For that we either need to convert to FIAT or bitcoin needs to be accepted as a means of payment.

[dothebeats]

No matter how hard we empower decentralization, it will always be shut down knowing how powerful the capitalists and the governments are. It hurts their interests for people to deviate from the societal norms, and that is using and spending the money that they introduced, that's why they try so hard to get in to the cryptospace and regulate what they think are hurting what they protect. And also, at the end of the day most people will have to exchange their bitcoins to fiat since using crypto alone won't get you anywhere further in the real world, and in that scenario we are yet again giving in to the power of capitalists and governments.

[cizatext]

The centralized authority will never allow for the acceptance of a decentralized financial process because the lack the ability and the power to either regulate or control the decentralized technology, the blockchain is a decentralized authority and a financial process that eliminate the third party involvement in any financial transactions that is carried out on the blockchain network.

[davis196]

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.