Regulation seem like the only option left

[bitgov]

Bitconnect saw its stud days too and then crashed as well. It was promoted like anything specially among low income countries and became a very popular topic of discussion among the common users in the casino trollboxes too. Then there are these social media friend circles where such coins become circle jerk topics and then all buy it like anything.

Eventually they will all lose and the same cycle will repeat after a few years in another name and in another form. The winner is the person running these scams and not the investors. Chit funds and HYIPs/Ponzis exist in real life while LUNA exists in the internet. No difference between them at all.

Regulation will not stop such projects from being popular. If someone willingly wants to get scammed without doing research on the project they are investing in, why will the government force them to stop?

That's certainly true, mate. Regulations won't stop scams from happening, but they will minimize their effect in the crypto/Blockchain industry. The more legislation we have towards crypto assets, the better it'll be for crypto/Blockchain tech's mainstream adoption. Remember that regulations bring investors' confidence into the crypto market. Without them, how do you think they'll pour money into unprotected crypto investments?

Unfortunately, Bitconnect, Terra/LUNA, and several other scams have scared away investors from the crypto/Blockchain space. But that doesn't mean it's the end of the world. Things will only get better over time as regulations are enforced. As long as individuals and governments work together, crypto won't be going anywhere soon. Just my thoughts

Like antidot are made before the viruses are made. Like the antiviruses are made before the cyber viruses are made.
Talking about LUNA- how horrible mistake it was. . Once can definitely lose trust on coins if one is destroyed by Luna.

[LUCKMCFLY]

If we hear regulations, we will think of rules that will create many limits, there is no more freedom so many developers and even exchange owners don't want to make regulations, and I think this is good, let the laws of nature work and we will see if cryptocurrencies will continue to grow .

I know that the regulations somehow represent being tied to a traditional and control system, it is something that cannot be denied, but in part it helps to enter countries that are very strict, that only like their economy through their local currency, but in the same way when entering, people will be that promoter that will have BTC and crypto, where it is difficult to enter the BTC will achieve it through regulations, it is like making a kind of temporary peace between the enemies of BTC for qeu can be developed in the most difficult systems at an economic level, it is not bad in the same way the BTC and crypto represent money, which for them is high risk, but it is still money.

[Abiky]

Never thought I would prefer govt regulation to crypto but this is it. Yes, we're in need of regulation of crypto so we can attract more hedge funds and investors to our crypto market. So we can see a new craze of net inflow of money into crypto instead stuck in the bear market like this.

Crypto was never about becoming part of Wall Street. It was more like a libertarian/cypherpunk movement to bring an alternative financial system free from governments and third-party interference. You'd just send/receive/trade crypto without any middleman whatsoever. Unfortunately, people took crypto as a means of investment instead of a currency. Loss of funds, hacks, and other undesired situations forced governments to intervene. Now they want a piece of the pie by regulating the crypto industry. Governments won't be able to enforce regulations on decentralized networks, but they will be able to do so at centralized exchanges and service providers. You can see KYC almost everywhere, greatly defeating crypto's original purpose. At least, Bitcoin is decentralized. As long as it stays that way, there should be nothing to worry about. Just my thoughts

[mindrust]

Agreed with abiky. I don’t think satoshi invented bitcoin to be a toy for WS. It is sad that it already become one anyway. It is nit bitcoin’s or satoshi’s fault though. If it is tradable, WS will trade it. We can’t stop it.

Bitcoin came this far without any regulations. Why do we really need it? Yes it will legitimize bitcoin but then the government will have  control over it somehow. I am not sure if that’s a good idea.

[Minecache]

Will there ever come a time that the government reaction to crypto will be encouraging for the people? Lately the head if international monetary fund Christine lagarde stated that regulatory action from the international community on crypto is inevitable ..what do you think

Honestly speaking, there are a lot of countries nowadays, where they've adopted the concept of the cryptocurrency business.
Where Bitcoin is the top brand of crypto's and you can see all over the world now via online system payment and even in the stock market as well. Moreover, there are some of thecryptocurrency in which are now regulated by some of the country I think few of them are in that situation so far. And for me regulation in some of the cryptocurrency is can be a good thing for us to make our assets will become more secure and to be lessen or remove the scammers who used cryptocurrency to get a victim to collect funds from the other people here in this industry.

If we are to have mass adoption of cryptocurrency, we need to accept the fact that there will be regulations that go along with it. The government will discourage anyone from using cryptocurrencies without regulation. Regulation will help keep the market clean scam projects and scammers will go to jail and can no longer compromise our safety but the regulations will limit our anonymity somewhat, cryptocurrency gives us certain privacy, once the regulation is passed it will affect us.

[Abiky]

If we are to have mass adoption of cryptocurrency, we need to accept the fact that there will be regulations that go along with it. The government will discourage anyone from using cryptocurrencies without regulation. Regulation will help keep the market clean scam projects and scammers will go to jail and can no longer compromise our safety but the regulations will limit our anonymity somewhat, cryptocurrency gives us certain privacy, once the regulation is passed it will affect us.

That's certainly true, mate. Regulations will affect our privacy in every way. They're meant to minimize the number of scams, hacks and/or theft, but they can also affect the average person by exposing his/her identity in a centralized platform. KYC/AML are security holes that make Blockchain tech no different than traditional banking. Unfortunately, there's nothing we can do if we want crypto to be legalized worldwide. Either exchanges comply or face serious consequences in the long run.

It's a good thing crypto/Blockchain tech is decentralized or things would've been worse by now. The future is widely unpredictable so no one knows what governments will come up with to either stifle or amplify crypto/Blockchain tech's growth worldwide. Just my thoughts

[Cryptodebjoe]

Although the anonymous and decentralized nature of crypto makes it hard to be regulated, crypto is a global force that every nation is directly or indirectly identifying with and the popularity, acceptability is on the rise irrespective of the season(bullish or dump). The IMF, UK and USA are fully aware of how their actions and inactions can easily influence the crypto market, so although they may not be able to regulate it from the inside they will create a policy that will appeal to human consciousness and thus change the course of things, if comments from individuals can cause massive impact on the crypto market how much more this world economic power houses?. Secondly, crypto is also a safety net for the every governments because there are certain underlying financial activities that they may carry out and would want to keep a low profile so they may never subscribe to a regulated crypto market. So i dont see any form of regulation in the forseable future