cryptomarketyourself (OP)
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June 11, 2019, 10:47:59 AM |
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I'm falling in love with these guys lately - they have some really cool ideas. Anyways, here's where I come from: https://cryptotradernews.com/cryptocurrency/how-crypto-should-be-regulated/Key highlights: Utilizing the underlying tech of virtually every cryptocurrency, we can police our own. With blockchain, smart contracts, and the very same miners currently working to provide the heart of Bitcoin, Ether, XRP, etc., etc., we can eliminate virtually every scam ICO as well as ensure that exchanges and wallets are adhering to industry requirements.
It really boils down to one of the most basic set of commands known to man — If, Then, Goto, and Else. Except now we have the power of smart contracts where we can ensure that the parameters are completely met along the way, and we can verify these requirements via the blockchain at any given time.This truly is how we can regulate Bitcoin and virtually any currency isn't it? I mean we already have the power it's just a matter of putting all the pieces in place. Thoughts? |
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marketingnerd
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June 11, 2019, 11:02:33 AM |
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There is no regulation. That's what makes BTC unique mate.
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timcook
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June 11, 2019, 11:02:37 AM |
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Regulation is necessary if we want to see Bitcoin grow into something more than just a speculative asset. Author is on point.
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bobsav2121
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June 11, 2019, 12:08:15 PM |
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Regulation? HELL NO. If BTC were to be regulated it would just be calleed USD.
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franky1
Legendary
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Activity: 4200
Merit: 4414
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June 11, 2019, 01:17:29 PM |
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owning a coin is self control.
as soon as you request/desire someone to control/police your funds. the funds are not yours.
you may presume ownership due to the police(regulation policy) giving you licence to request usage, but if they have the final say about if a transaction should happen or not. its not your money.
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I DO NOT TRADE OR ACT AS ESCROW ON THIS FORUM EVER.
Please do your own research & respect what is written here as both opinion & information gleaned from experience. many people replying with insults but no on-topic content substance, automatically are 'facepalmed' and yawned at
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iamike
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June 11, 2019, 01:27:19 PM |
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If regulation comes to bitcoin and cryptocurrency as a whole it will loose its value. The regulators are likely to do it in favour of their selfish interest especially when it comes under government regulations and management. I believe how it is makes it a unique currency. The answer to regulation of bitcoin is big NO
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avikz
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June 11, 2019, 01:34:45 PM |
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I'm falling in love with these guys lately - they have some really cool ideas. Anyways, here's where I come from: https://cryptotradernews.com/cryptocurrency/how-crypto-should-be-regulated/Key highlights: Utilizing the underlying tech of virtually every cryptocurrency, we can police our own. With blockchain, smart contracts, and the very same miners currently working to provide the heart of Bitcoin, Ether, XRP, etc., etc., we can eliminate virtually every scam ICO as well as ensure that exchanges and wallets are adhering to industry requirements.
It really boils down to one of the most basic set of commands known to man — If, Then, Goto, and Else. Except now we have the power of smart contracts where we can ensure that the parameters are completely met along the way, and we can verify these requirements via the blockchain at any given time.This truly is how we can regulate Bitcoin and virtually any currency isn't it? I mean we already have the power it's just a matter of putting all the pieces in place. Thoughts? It's easier said than done! The structure of cryptos are built such a way which makes it very hard to put a surveillance framework in place! But not impossible though! You will mostly find supporters of freedom here but I do have a different kind of thinking for cryptos. That's the reason why I absolutely support the below statement, The world of crypto should embrace regulation! Only regulation can bring the best out of crypto! Crypto needs adoption to grow and adoption can only happen with regulation and nothing else! The day we will be able to buy groceries with crypto or pay for the public transport, can only help to grow the market! |
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princesspoppy
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June 11, 2019, 01:40:31 PM |
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Very well said. I do agree with the author. It needs regulation to stop or lessen scams, especially in ICOs. There are lots of scam ICOs flooding the market that stops some people from doing campaigns and instead of investing in it, they prefer to stop and give up in cryptos. With a little regulation, this may lessen the number of scam ICOs or if effective, totally eliminate it.
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xvids
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June 11, 2019, 03:18:04 PM |
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Regulation on crypto?
Then you are willing to give out your freedom once again after getting it through crypto?
You are willing to let them take over and know everything about you?
This is agains the anonymity it is agains the freedom of the user if crypto would just ends up being regulated then we just throw away what Satoshi had given us Finacial Freedom.
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Ailmand
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June 11, 2019, 03:39:39 PM |
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People have chosen Bitcoin and cryptocurrency over banks because of the freedom that we could have through it. We are making our own banks here since we're far from regulation and we're in control of our assets. Scams and frauds are the consequences of the freedom that we're experiencing in crypto. If Bitcoin will be regulated, I don't see any sense and difference of it from banks except for being a digital currency.
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bitcoin-shark
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June 11, 2019, 03:58:13 PM |
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i hope that the regulation never arrives neither for bitcoins nor for altcoins already these kyc procedures disturb me a lot, the main features of the altcoins are anonymity and the absence of rules...
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LeGaulois
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Top Crypto Casino
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June 11, 2019, 04:06:13 PM |
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Regulation is necessary if we want to see Bitcoin grow into something more than just a speculative asset. Author is on point.
Bitcoin was created to be sustainable without regulations, laws, authority, or whatever. It's just you guys who are praying for regulations and centralization in the hope the price skyrockets. No matter if it kills Bitcoin's ethics as long people are cashing out. The argument of the 'mass adoption' always used but Bitcoin will be adopted with or without regulations. It started a decade ago slowly but on point following its adoption |
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cryptomarketyourself (OP)
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June 11, 2019, 04:10:00 PM |
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i hope that the regulation never arrives neither for bitcoins nor for altcoins already these kyc procedures disturb me a lot, the main features of the altcoins are anonymity and the absence of rules...
You're not expecting a crypto-only society then right? If we go 100% full on crypto and no fiat and there's no regulation on crytpo... who controls taxes? |
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Genemind
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June 11, 2019, 04:16:20 PM |
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A lot of crypto lovers as well as traders and investors will get disappointed if the government will get involved and regulate Bitcoin. We all know how the government works in ruling banks and nobody wants the same thing to happen with blockchain technology. I think fraudulent and scams aren't the reason enough to regulate bitcoin because it's something that should be fixed inside crypto without the involvement of the government.
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Beerwizzard
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June 11, 2019, 04:16:58 PM |
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It really boils down to one of the most basic set of commands known to man — If, Then, Goto, and Else. Except now we have the power of smart contracts where we can ensure that the parameters are completely met along the way, and we can verify these requirements via the blockchain at any given time.[/i]
The only thing that Smart contracts can ensure is that people will get their token in exchange for their money. That's it. Most ICOs need funds for project development and they are not able to repay its investors if the project fails. Even if someone is not going to do any exit scam nothing can ensure that this team is not showing us a fake activity until the projects run out of money. This is a human factor that can not be predicted by any code. |
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Linkkoin
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Online Cryptocurrency Exchange
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June 11, 2019, 04:35:24 PM |
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Well, in Europe already there is 4th (and upcoming 5th) Anti Money-Laundering Directive which regulate some of the aspects of cryptocurrency trading and ICOs
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Online cryptocurrency exchange - https://linkkoin.com Buy BTC, ETH, XRP, BCH, EOS, LTC, XMR, REP, ETC, ZEC with credit/debit card |
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cabron
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June 11, 2019, 04:37:29 PM |
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"IF" means a condition. You wouldn't want that to happen to a coin you solely own yet controlled by a contract. I'd rather have a wild wild west than having that kind of regulation. Didn't they asked already for our KYC information which the regulation is about to go this way? We're on that direction, I wouldn't want the database created goes any waste.
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dothebeats
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Cashback 15%
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June 11, 2019, 04:45:39 PM |
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One of the main ideas of using cryptocurrencies is to step away from traditional regulations in which fiat currencies are bound to, and people adhere to, in order to prevent the assets being seized and people being detained. By allowing your coins to be regulated, most especially the network in which it runs to, you are basically giving up your freedom to use those coins and let someone in 'authority' mandate you on what and what not to do with your coins. They can regulate the platforms built around bitcoin, but bitcoin itself won't and shouldn't be regulated.
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Zemomtum
Full Member
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CitizenFinance.io
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June 11, 2019, 05:47:55 PM |
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When you are regulated and clamped down when any of those laws are broken knowingly or unknowingly, then we have lost the power of total freedom completely. We should derive a means to identify scam and bring up user education in all available platforms. At present, people don't fall to cheap ICO scam any longer as compared to that of year 2017. With time, we shall found direction outside regulation
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Mike Mayor
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June 11, 2019, 06:57:44 PM |
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You cannot regulate something that has been made decentralized. "we can police our own" this is a much better idea. I don't want the law anywhere near crypto. We can take care of this ourselves.
People know the risks of getting into crypto. It is very risky business not for the faint-hearted. If you don't like it you don't have to take part. Stop blaming the criminals only. Do you think criminals would exist if noone fed them? As long as idiots are willing to give over their heard earned crypto to scammers nothing will change. (I am excluding advanced scams since anyone can fall for these though only like 1% of scams are advanced)
When people still fall for cloud mining scams because of their own greed its their fault and if they keep doing that scammers will keep coming.
People must arm themselves with education instead of relying on "regulations" or the "law"
If you cannot protect yourself without the need for the law you are either a fool or a coward.
You don't go into the minefield of the crypto universe without being armed. It's just asking for it. Like most things education is key.
It is very simple. You either educate yourself or do not. The latter is more likely to cause financial loss and people should be doing everything they can to protect their assets/currency/valuables/stocks or whatever it is.
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