World Of Crypto Has Changed in Last 6 Years.

[worldtraveller321]

just figure i share thoughts on crypto world, it sure has changed in last 6 years, where it used to be the free market and we could do as we please, with trades, buying and selling crypto
   
now its so different now

as the governments in the world have gotten involved and trying to make it harder in crypto
as in if you need to trade out to fiat ,

u have to pay taxes and lots of it
Governments are cracking down on exchanges and regulations etc.




in one way it does prove crypto has value and here to stay
There is more adoption going on. Slowly but it is happening,.


Do you think all this will make people to drop out of crypto and leave it to the people who have high wealth only?

Or will the average person still stay in the markets?

but its too bad that the powers that be are making it difficult





ur thoughts?



[batang_bitcoin]

Do you think all this will make people to drop out of crypto and leave it to the people who have high wealth only?

No. It is the sign that more money is going in to crypto and those that are existing here won't think about getting out anytime soon. We're not yet on the peak of the bull run and that's why people won't be thinking of dropping out anytime soon. Many are going to leave when we're already on the bear market but as of this time, I don't think that's what on the mind of the most when we're not yet seeing the best of Bitcoin. But it's true that a lot has changed for the last 6 years.

[Slow death]

In the past it was much easier for scammers to create scam exchanges, in the past it was easier for exchanges to have fake volume. In the past it was easier for scammers to create ICOs, in the past it was easier for people to create tokens with fake teams, in the past it was easier for people to create meaningless altcoins like Jesus Coin and scam other people with religious coins. But thanks to governments starting to pay more attention to this market, scammers have a greater chance of being punished today. Even though I don't like kyc, I still think it's a good measure, I think it's also a good measure that governments are taking when they require exchanges to comply with laws. This is a market that moves a lot of money, so it would be difficult for governments to ignore

[mk4]

Since when has taxes stopped most people from doing anything? Yes, it will stop some people, especially in countries like the United States, but most people will just end up not declaring their transactions — especially those that do things on-chain, not on centralized exchanges.

[Faisal2202]

Do you think all this will make people to drop out of crypto and leave it to the people who have high wealth only?

Nah I don't think people will leave crypto just because the government keeps getting involved as a matter of fact I consider the involvement of government a good factor for the same reason that you have aforementioned. People will not leave because if government is cracking down exchanges then new exchanges will take place, if they are implementing high taxation, then new method to minimize the taxation will take place, if they are eliminating anoynity, security, decentralization factors from the exchanges, platforms then new ones will take there places.

This works is full of diversity, means if there are people demanding cringe content then there will be people creating it, same if the people will demand decentralized platforms, developers of the same kind will make those and this is how things will work. And why would you say, only high wealth people will be involved, as it's not about money I guess, its about technology.

[Yamane_Keto]

It may be necessary to start thinking about using Bitcoin only as a means of conducting transactions and preserving wealth instead of  trade out to fiat.
It is true that the procedures have become more stringent, but you can still do P2P trading, buying and selling products with Bitcoin.

[un_rank]

u have to pay taxes and lots of it
Governments are cracking down on exchanges and regulations etc.


...
Do you think all this will make people to drop out of crypto and leave it to the people who have high wealth only?

Taxes on crypto is not different to what people pay on other income, it is less in some countries and many are yet to tax capital gain on Bitcoin
There are still many options of exchanges to use and most users are not particular in protecting their privacy or decentralization.

None of these reasons will be enough to get people to drop out of Bitcoin, if you generalize it to the entire crypto ecosystem, there are so many other reasons for one to stop holding altcoins and buying into new projects.

- Jay -

[Baghdad]

In the past it was much easier for scammers to create scam exchanges, in the past it was easier for exchanges to have fake volume. In the past it was easier for scammers to create ICOs, in the past it was easier for people to create tokens with fake teams, in the past it was easier for people to create meaningless altcoins like Jesus Coin and scam other people with religious coins. But thanks to governments starting to pay more attention to this market, scammers have a greater chance of being punished today. Even though I don't like kyc, I still think it's a good measure, I think it's also a good measure that governments are taking when they require exchanges to comply with laws. This is a market that moves a lot of money, so it would be difficult for governments to ignore

Bitcoin is a long years of work achieved and being put to work. In previous years as you stated there were no KYC, enabling more scammers and rug pulls occuring in the market. In the few moments I've looked into this broad space of monetary investment I noticed the purpose of  government's involvement in the market is to safeguard citizen's money and help investors stay clear from infamy scammers. But, the government's hands on cryptocurrency doesn't make many changes in reducing scam projects.

On telegram lots of projects are not feasible, but made up to eat up investor's money. Please, how do you think they'll get punished on platforms like telegram? If the government's hand in crypto is stable and strong. I think more people will get interested in the cryptocurrency market. Thereby, skyrocketing the rate at which illicit players will operate, unless the government also finds a means of regulating platforms like telegram and discord. Where I have seen multiple complaints from users regarding cryptocurrency scam.

[B1-66ER]

BTC>Bitcoin != Crypto.

[Zlantann]

Do you think all this will make people to drop out of crypto and leave it to the people who have high wealth only?

Or will the average person still stay in the markets?

but its too bad that the powers that be are making it difficult





ur thoughts?



One important advantage of Bitcoin is that it can be bought in bits. Which entails that regardless of how high the price is, the average or poor citizens in the society will still have the opportunity to buy it. The transaction fees and stringent regulatory laws are making things a little bit difficult but Bitcoin will still be the first choice in the crypto space.

It may be necessary to start thinking about using Bitcoin only as a means of conducting transactions and preserving wealth instead of  trade out to fiat.
It is true that the procedures have become more stringent, but you can still do P2P trading, buying and selling products with Bitcoin.

That's true. But many people don't have the financial capacity to keep Bitcoin as an investment, they easily sell it to meet their needs. You should also take into consideration that Bitcoin is not legal in all countries and most businesses are not accepting it as a means of payment.

[bittraffic]

Gone are the wild wild west days of crypto they say. It's almost regulated in all countries and all exchanges do have KYC already. But I don't think only the rich will be in crypto, there's still us here trying to earn a few BTC and still betting on casinos.

But for sure they rich like those from traditional finance are going to come into crypto especially because of the Reaal world Assets that they are tokenizing. It's not usual anymore that users may be promoting platforms everywhere in crypto maybe we will see BTC on TV commercials.

[Jegileman]

u have to pay taxes and lots of it
Governments are cracking down on exchanges and regulations etc.




in one way it does prove crypto has value and here to stay
There is more adoption going on. Slowly but it is happening,.


Governments can’t see and be watching on something that will want to compete with their system and not take action on it. Bitcoin was meant to serve as alternative to traditional fiat money, but its coming and mass adoption has made it seen as a competitive option in the financial market and that’s why government is taking strict action on it.

Do you think all this will make people to drop out of crypto and leave it to the people who have high wealth only?

When the people have found a means of earning and survival in this, I don’t think they will want to leave it to the wealthy people only, they rather stay and enjoy the benefits of it together.

Or will the average person still stay in the markets?

but its too bad that the powers that be are making it difficult





ur thoughts?



If the average of people have patience in this quest, they will always want to forget about the difficult aspect of it and look for ways to tap into the long term benefits of bitcoin. Everything is a gradual process and because their are hurdles on your way to success doesn’t mean you can’t achieve that success.

[avikz]

just figure i share thoughts on crypto world, it sure has changed in last 6 years, where it used to be the free market and we could do as we please, with trades, buying and selling crypto
   
now its so different now

as the governments in the world have gotten involved and trying to make it harder in crypto
as in if you need to trade out to fiat ,

u have to pay taxes and lots of it
Governments are cracking down on exchanges and regulations etc.




in one way it does prove crypto has value and here to stay
There is more adoption going on. Slowly but it is happening,.


Do you think all this will make people to drop out of crypto and leave it to the people who have high wealth only?

Or will the average person still stay in the markets?

but its too bad that the powers that be are making it difficult





ur thoughts?



It's a symbol of growth! Whenever the common people have done something extraordinary, governments always came sniffing in to get their cut. That's exactly happening in the crypto world as well. Initially no government had thought that crypto can indeed become so valuable. But when they did, governments around the world, are now trying to get their cut from our income. That's always happens!

But I am more concerned about deep-pocket corporates getting into this market. If commoners stop going into this market, that will be for these corporates and not for the governments asking to pay tax. Corporates know how to take control over anything and that dirty game will be attempted in the crypto market as well.

[electronicash]

just figure i share thoughts on crypto world, it sure has changed in last 6 years, where it used to be the free market and we could do as we please, with trades, buying and selling crypto
   
now its so different now

as the governments in the world have gotten involved and trying to make it harder in crypto
as in if you need to trade out to fiat ,

u have to pay taxes and lots of it
Governments are cracking down on exchanges and regulations etc.




in one way it does prove crypto has value and here to stay
There is more adoption going on. Slowly but it is happening,.


Do you think all this will make people to drop out of crypto and leave it to the people who have high wealth only?

Or will the average person still stay in the markets?

but its too bad that the powers that be are making it difficult





ur thoughts?



It's a symbol of growth! Whenever the common people have done something extraordinary, governments always came sniffing in to get their cut. That's exactly happening in the crypto world as well. Initially no government had thought that crypto can indeed become so valuable. But when they did, governments around the world, are now trying to get their cut from our income. That's always happens!

But I am more concerned about deep-pocket corporates getting into this market. If commoners stop going into this market, that will be for these corporates and not for the governments asking to pay tax. Corporates know how to take control over anything and that dirty game will be attempted in the crypto market as well.

they will take over the market and all the prices of the coins listed in the cmc will go way higher so commoners will have no chance of buying one because what commoners can afford is just memecoins. this is why as of this time, they are putting it in the minds of the GenZ that what matters in the world of crypto is memecoins. forget BTC, it's nonsense and it's regulated and the fee is ridiculous.

yes its true crypto has changed over time. we are now, KYCed completely.

[Cookdata]

u have to pay taxes and lots of it
Governments are cracking down on exchanges and regulations etc.




in one way it does prove crypto has value and here to stay
There is more adoption going on. Slowly but it is happening,.


Do you think all this will make people to drop out of crypto and leave it to the people who have high wealth only?

Or will the average person still stay in the markets?

but its too bad that the powers that be are making it difficult





ur thoughts?



There is one thing in life that is constant and that is change, it will happen whether you like it or not, it's normal because without changes there wouldn't be growth.

You see about those taxes, it varies. There are some countries that are crypto friendly and yet they don't tax their citizens because they don't know what the future holds for now if they will accept as it may benefit the economy or not. However, there are some countries that are tax-friendly unlike the US and some other regions that are strict with crypto regulations. I hope you know that some of these people introduced high taxes to just discourage people.

As for the exchanges, not like I'm in the support of government, some of these centralized exchanges are known for dubious activity, many of them have stolen customers funds, loaned many of them out and also used the remaining for their own careers and when the customer want their money, they file for Bankruptcy, isn't that pathetic and fraud, sometimes government need to put things in order.

[Rabbitqt]

just figure i share thoughts on crypto world, it sure has changed in last 6 years, where it used to be the free market and we could do as we please, with trades, buying and selling crypto
   
now its so different now

as the governments in the world have gotten involved and trying to make it harder in crypto
as in if you need to trade out to fiat ,

u have to pay taxes and lots of it
Governments are cracking down on exchanges and regulations etc.




in one way it does prove crypto has value and here to stay
There is more adoption going on. Slowly but it is happening,.


Do you think all this will make people to drop out of crypto and leave it to the people who have high wealth only?

Or will the average person still stay in the markets?

but its too bad that the powers that be are making it difficult





ur thoughts?



As time goes on, Bitcoin and the crypto market will be viewed similarly to other markets, like gold or stocks. Currently, we're closely tied to stocks. I believe the hype and interest will wane, and so will these extreme bull runs. As more money enters the market, it becomes harder to influence prices. Those who remain interested will be enthusiasts, early adopters, and institutions, but the new wave of hype will fade.

Keep in mind, our market cap is only $1.5T, which is still relatively small. We have a long way to go before public interest fades.

[jcojci]

We have to accept whatever situation is happening now. The government has indeed started to be active in crypto by implementing necessary policies. They want to get additional taxes from crypto so they continue to issue regulations for crypto users. And we, as crypto users, also have to comply because if we don't, we will experience problems and won't be able to use crypto like before.

But that won't turn people off from crypto alone. They will still be in crypto, especially since they have experienced the results they get from crypto. They will also comply with the rules or regulations set by the government.

[kryptqnick]

There are more regulations now than there used to be, that's true. Some countries have figured out their taxation policies and some are expecting people to pay taxes for their crypto profits. Moreover, KYC requirements on mainstream crypto exchanges became a pretty common thing, and it seems that 6 years ago, they were rare.
But things also differ from one country to another. Lots of governments are still not involved, and Bitcoin status is unclear in many countries. There are also places where you don't have to pay crypto taxes at all or up to a certain earning threshold.
I think average people will not only stay but will continue joining the market, despite the changes (and sometimes actually thanks to the changes, as some people care about ensuring that what they do is legal, so they appreciate the regulations).

[pooya87]

You are heavily limiting the definition of "world of crypto" by limiting it to only include "traders".

This is was expected too. When the government watches trillions of dollars in a certain market changing hands and loads of profits being made, it was always obvious for them to want their "cut"! So in a way, this is not even a big change that we didn't know was coming.
The rest is completely the same though. For example Bitcoin is just as decentralized as it should be and you can use it like always.

[MusaMohamed]

You are heavily limiting the definition of "world of crypto" by limiting it to only include "traders".

Bitcoin is most important pillar in Cryptocurrency ecosystem and more important than altcoins. I would prefer to talk about Bitcoin and its adoption changes so far.

Adoption is what we want to see as it will help to increase Bitcoin value, demand, then price on the market will reflected higher value, bigger demand and rise more.

Bitcoin community is made up of many components, developers, miners, investors, traders, gamblers and businesses that accept and integrate Bitcoin to their systems. Traders are only one part of Bitcoin community and it's hard to say they are most important in the community.