What happend.....

[pakhitheboss]

Hi all!

Am I the only one who feels the current Bitcoin/Crypto climate is going to shit? When I got into Bitcoin in 2013, this was the true new wild west so to speak. So what happend in the last 5-6 years?

Governments are trying to take back control with regulations and taxes.
Exchanges requiring ID (KYC) etc. (hahahahaha fail)
Developers are requested to make themselves public
Previously rather unknown people. but with success in crypto, are for some reason seen as some sort of "Messiah" (binance dev for example)
etc.
etc.
etc.



So why the hell.... Do we (community) go along with all that crap?

And IMHO, if you are happy with the current climate, you should not be in crypto at all!

Or have I smoked one too many? This is not what Satoshi wanted/meant when he created Bitcoin right?


Have a good one,
Towelie

In my country every local exchange wants you to first to through KYC if you want to trade or liquidate into local fiat. That is basically the reverse of what cryptocurrency is meant for.

Developers are requested to make themselves public because of so many scams happened in the past. Now, if they need investment into their projects they need to reveal their identity or create a project better than those which already exists.I support that too as it helps investors to gain trust.

Other than that everything else is a bunch of crap.

[Paycoinzzz]

To me, this is what Nakatomo Satoshi wants to create. he wanted to create a decentralized market and a limited supply of assets would lead the market and he succeeded. He knows that when this market is well known, it will be a completely beneficial playground for those who have a lot of money. Anyway, this is a kind of interesting decentralized market and It is only for those who like to face high risks. We can either make a lot of money and become a shark or we have nothing.

[yazher]

To be honest, the progression we see today is far away from the past. there are many developments and most of the time it involves Bitcoin. the good thing about it is, they are now recognizing bitcoin as one of the top currency in the world not just some fancy coin from the casino or used by the bad people in the deep weeb. this is so far the great year for the bitcoin unless you still want the old way of bitcoin where you are having hard to explain it to the people. which much more complicated than what we have today.

[rodskee]

To me, this is what Nakatomo Satoshi wants to create. he wanted to create a decentralized market and a limited supply of assets would lead the market and he succeeded. He knows that when this market is well known, it will be a completely beneficial playground for those who have a lot of money. Anyway, this is a kind of interesting decentralized market and It is only for those who like to face high risks. We can either make a lot of money and become a shark or we have nothing.

Your points are valid mate because the problem with OP is that He is expecting
too much to happen as if the market
 needs to continue growing in front of Him in which i think not appropriate in Crypto currency,Not like in Stocks that there
 are physical products in circulation but here?all are virtual so movement are far different from everything that we use
 to learn.but at least we are seeing completely success for more than 10 years look of how much crypto already achieved .

[amishmanish]

I think this starry-eyed, nostalgic romanticism with the bitcoin landscape being the wild-wild west is a very "western" concept. I was not there in 2013 but came in touch around mid-2017 with the ICO craze. I don't think KYC or regulations have hurt bitcoin as much as the insider themselves. You cannot expect a technology like bitcoin to reach a critical level with interest just from the privacy-conscious individuals. Bitcoin NEEDED more people to come in. That meant development and use-cases. Actual usage as the currency of the internet but that did not happen. One of the reason is the non-diversification of development.  The community also got split and bitcoin relegated the role of demonstrating blockchain capabilities to the crazy, scammy ICO "devs".

Another thing is that the discussion on newer capabilities has completely got shut off amidst the unnecessary tantrums over KYC/ regulation etc. Fo rexample, @JetCash decided to start threads for discussion of bitcoin's new capabilities but these things don't get much attention. This leads to a situation where developments based on bitcoin don't get as much attention. All the spotlight remains on the maximalists and "sound money" enthusiasts from twitter. (Unfortunately, the set of maximalists and the set of COVIDiots has a considerable overlap, so more division).

There is a certain section of people that wants bitcoin to be a cure for everything from Govt monopoly to bad vaccine practices to fake news to consumerism. It provides a starting point for that but it cannot by itself be the answer. That explorer spirit has been taken over by traders and whales. We just unleashed another set of software guys waiting to get rich (Gates and Jobs) when we should have had a set of software guys wanting to make the world a better place (Stallman and Linus).

[Slow death]

Am I the only one who feels the current Bitcoin/Crypto climate is going to shit?

I believe you are part of a small group that is not satisfied with how things are going

When I got into Bitcoin in 2013, this was the true new wild west so to speak. So what happend in the last 5-6 years?

call evolution.

when in my country we used this phone



we had privacy because the government didn’t require people to register with mobile operators.

today we use these:



the number of people using the phone in my country has increased a lot and as a result the government has started to demand that mobile operators register their customers and privacy no longer exists

So why the hell.... Do we (community) go along with all that crap?

because this is an inevitable path, you can still use mixers if you want privacy

Towelie

 

[ChiBitCTy]

Hi all!

Am I the only one who feels the current Bitcoin/Crypto climate is going to shit? When I got into Bitcoin in 2013, this was the true new wild west so to speak. So what happend in the last 5-6 years?

Governments are trying to take back control with regulations and taxes.
Exchanges requiring ID (KYC) etc. (hahahahaha fail)
Developers are requested to make themselves public
Previously rather unknown people. but with success in crypto, are for some reason seen as some sort of "Messiah" (binance dev for example)
etc.
etc.
etc.



So why the hell.... Do we (community) go along with all that crap?

And IMHO, if you are happy with the current climate, you should not be in crypto at all!

Or have I smoked one too many? This is not what Satoshi wanted/meant when he created Bitcoin right?


Have a good one,
Towelie

You need to look at it from afar.  This kind of technology is going to take time to develop and turn in to a mass adopted payment system.  I think first off too many people view bitcoin as an investment rather than a currency system as it was intended.  This is misleading and confusing to new people coming in and trying to figure out what bitcoin is all about.  We also haven't gotten that "killer app" as Andreas Antonopolous always talks about.  The one that makes things super easy your grandmother could use it.  This is all going to take time.  Rome wasn't built over night.

[Leonardo7]

Exchanges requiring ID (KYC) etc. (hahahahaha fail)

This has been an age-long campaign for the fact that most of these exchanges are custodian exchanges and could be shut down if found violating rules, well there are some individuals under government radar, so the government want to be able to track them and their fund coupled with nations under sanctions. The government is still very powerful that this KYC has started been extended to DEX. It's too bad you can almost not able to buy bitcoin with your card without KYC.

Developers are requested to make themselves public

For the most part of this, it's the developers that want to conduct ICO/IEO and collect funds from the public that usually do this to build investors' trust.

[peter0425]

Developers are requested to make themselves public

For the most part of this, it's the developers that want to conduct ICO/IEO and collect funds from the public that usually do this to build investors' trust.

If you want to collect money from individuals then you must be transparent and for this to happen then you must be publicly known so this is not a bad practice at all specially from the government that serves as protector of each people.

for OP,if you are not contented in this market then you can just simply Leave because no one is forcing you to remain here and having this issues .

[BitcoinsGreat]

Hi all!

Am I the only one who feels the current Bitcoin/Crypto climate is going to shit? When I got into Bitcoin in 2013, this was the true new wild west so to speak. So what happend in the last 5-6 years?

Governments are trying to take back control with regulations and taxes.
Exchanges requiring ID (KYC) etc. (hahahahaha fail)
Developers are requested to make themselves public
Previously rather unknown people. but with success in crypto, are for some reason seen as some sort of "Messiah" (binance dev for example)
etc.
etc.
etc.



So why the hell.... Do we (community) go along with all that crap?

And IMHO, if you are happy with the current climate, you should not be in crypto at all!

Or have I smoked one too many? This is not what Satoshi wanted/meant when he created Bitcoin right?


Have a good one,
Towelie

In my country every local exchange wants you to first to through KYC if you want to trade or liquidate into local fiat. That is basically the reverse of what cryptocurrency is meant for.

Developers are requested to make themselves public because of so many scams happened in the past. Now, if they need investment into their projects they need to reveal their identity or create a project better than those which already exists.I support that too as it helps investors to gain trust.

Other than that everything else is a bunch of crap.

The main reason is that people try to cheat the system. For example many people started using exchanges for money laundering business and therefore there was no option but to make KYC mandatory. Decentralization is important and beneficial but at the same time some people exploit it for their own benefit.

[thesmallgod]

You will agree with me that then bitcoin is not really understood and when people get involved in bitcoin, a lot of people started concentrating on the flaws which lead to using bitcoin as a settlement for illegal things, fraud and money laundering and this has caused many parties involved in finding a concrete method to reduce this flaw and the results are those KYC, AML compliance and regulations we are seen today.

[MCobian]

I am among those who are quite surprised by the current state of bitcoin, so many bad things happen in the crypto world. Therefore more and more
decreased enthusiasm of people towards bitcoin. I want bitcoin to be respected and desirable as before, frankly I am a person which is difficult to
move on to what happened in 2017-2018. At that time the whole world seemed to glance at bitcoin, and it was very easy to earn money when it is.
It has been two years but the situation is now very alarming, even though the big event bitcoin halving is about to take place will happen but the
price movement of bitcoin looks stable. Bitcoin prices should have gone up dramatically.

[carlisle1]

You will agree with me that then bitcoin is not really understood and when people get involved in bitcoin, a lot of people started concentrating on the flaws which lead to using bitcoin as a settlement for illegal things,

Before we even learn this crypto,illegal people already using this as their trading material and i believe that why this become more popular and successful is because these underground people are already using this.

fraud and money laundering and this has caused many parties involved in finding a concrete method to reduce this flaw and the results are those KYC, AML compliance and regulations we are seen today.

KYC and AML maybe effective for Law Abiding people but for criminals and syndicate ?lol they will only laugh at this regulations.

[Yamifoud]

Nobody think that Bitcoin will show like this as it started nothing and just being ignored by many, not even the government had noticed. But to the time that crypto explode, it catches attention to the people. Not being a part of it only but also the aims of the government to take control and have some share of it. The greedy thing to be and most likely they do to the others.
Should we expect strong support for them? Not really and we can't expect that from them unless they'll taking some part of it just like imposing taxes.

[Kemarit]

Hi all!

Am I the only one who feels the current Bitcoin/Crypto climate is going to shit? When I got into Bitcoin in 2013, this was the true new wild west so to speak. So what happend in the last 5-6 years?

I guess crypto also evolved in the last 5-6 years.

Governments are trying to take back control with regulations and taxes.

I think this is evident last 2016 and really highlighted in 2017 specially when bitcoin reaches it's peak. I don't think its taking back control, but more of wanting to have a piece of the pie.

Exchanges requiring ID (KYC) etc. (hahahahaha fail)

You can still used DEX.

Developers are requested to make themselves public
Previously rather unknown people. but with success in crypto, are for some reason seen as some sort of "Messiah" (binance dev for example)

Why not though, people are pulling a lot of scam attempts. Top 10 coins developers are well-known.

So why the hell.... Do we (community) go along with all that crap?

And IMHO, if you are happy with the current climate, you should not be in crypto at all!

Or have I smoked one too many? This is not what Satoshi wanted/meant when he created Bitcoin right?


Have a good one,
Towelie

To be honest, when the price of bitcoin starts from .01 then goes to 10 dollars, it became an asset per se, so it has very much evolved.

[The Sceptical Chymist]

Governments are trying to take back control with regulations and taxes.
Exchanges requiring ID (KYC) etc. (hahahahaha fail)
Developers are requested to make themselves public
Previously rather unknown people. but with success in crypto, are for some reason seen as some sort of "Messiah" (binance dev for example)

1) Governments were never going to allow crypto to remain in its Wild West state.  Never.  I'm actually surprised that there aren't more rules and restrictions than there currently are.  In a lot of ways, we're still in the early days of crypto.

2)  Exchanges aren't requiring KYC docs because they want to (as far as I know).  They're doing that because they're being forced to by the governments in whose jurisdictions they operate.  Exchanges don't have a choice, and I can't fault them for implementing KYC.

3)  I don't know what you mean by developers requesting to make themselves public.

4)  Yeah, there's a lot of that "cult of personality" in the crypto space, which I don't particularly care for.  I'm not interested in personalities and generally don't believe anything people have to say--even less so when they have a "big" name attached to their words.

So why the hell.... Do we (community) go along with all that crap?

The community doesn't have a lot of choice as far as the regs governments put in place, and it's unfortunate that there isn't a big political crypto lobby like large corporations have.  And as far as the 4th point is concerned, I've found my own solution to that (see above).

[Reid]

You are stating events which happens all the time with or without bitcoin.

Government in control. It is not new. Anything created by one genius will suddenly be a criminal or will be missing, etc.
Creation of a new kind of optional payment method, they will buy it using the rich people who are also in their control or vice versa.

So what can you really do about it.
You speak like you can do something. Why not propose a good guide and then maybe we could follow it.
If it was really good though.

[KonstantinosM]

Governments are trying to take back control with regulations and taxes.
Exchanges requiring ID (KYC) etc. (hahahahaha fail)
Developers are requested to make themselves public
Previously rather unknown people. but with success in crypto, are for some reason seen as some sort of "Messiah" (binance dev for example)
etc.
etc.
etc.

Well, technically you always had to pay your taxes
The biggest exchange was Mt.Gox, and it required verification for larger amounts as well.
Developers of genuinely awesome stuff, that don't ask people to buy in using funds, can make whatever they want anonymously. In the early days, a new altcoin was very severely judged if it was pre-mined. If people want to ask for tons of cash, with no upfront work, unlike Satoshi they may need to show their credentials.
I think there are lots of crypto to crypto exchanges that don't need KYC.

There were a few positive things that have been shut-down and that will be missed.
There were a lot of betting websites that weren't blocked to people from the US. Satoshi Dice for example and betting on outcome style websites.
The one that shutdown that made me the saddest was one with bitcoin denominated stocks. We could have had our own stock markets.


I'm generally happy with where things are now. If you put some legwork in, you can do all the things that you could do in the early days, perhaps except for mining and getting some btc through faucets.

I wanna see a bitcoin stock market again though.

[Betwrong]

~ This is not what Satoshi wanted/meant when he created Bitcoin right?
~

Why do you say so?

Satoshi meant to create:

- "A purely peer-to-peer version of electronic cash"  - Done

- no third party involved in transactions - Done

- impossibility of tampering/double spending - Done


Bitcoin is doing great, and I think Satoshi would be proud of its performance.

What governments are trying to do and what exchanges are requiring is the consequence of the level of adoption Satoshi couldn't even dream of at the time of writing the whitepaper.

(Sorry, didn't mean to sound so snippy. It was just my opinion. I know, I can be wrong)

[gundala]

~
So why the hell.... Do we (community) go along with all that crap?
And IMHO, if you are happy with the current climate, you should not be in crypto at all!
Or have I smoked one too many? This is not what Satoshi wanted/meant when he created Bitcoin right?

Why not? everyone has different criteria and comfort zones, right? we cannot force others to have the same tastes as us.
If we are not happy with the current climate, then do not adapt, then we will not get anything. Don't blame change, it will always happen to get adjustments that can be enjoyed by everyone. After all, you can still get privacy, trade without KYC on a decentralized exchange, right? There are many choices to suit your taste.
The fact is that bitcoin is still on track. The government is only trying to adjust this to the system by imposing taxes, just think of it as competence that the government provides legality and rules governing crypto.