Regulations Not Working as Planned??

[worldtraveller321]

Regulations Not Working?

Do you think it is true, that right now with the governments, banks “powers that be” in attempt to Gain control of BTC and other cryptos.
They are trying to put into regulations etc. Yet there are troubles to making the cryptos as “securities”
With all the lawsuits “they “ try to put onto the crypto companies. Has not worked in the “favour” of the powers that be?
Is this true?

Does this prove that the blockchain tech is a success?

That BTC could work as a money system for the people and help people to devalue FIAT currency?

Or am I wrong and the “powers that be” are winning  and people will lose in the crypto world?

Your thoughts?

[AVE5]

Regulations Not Working?

Do you think it is true, that right now with the governments, banks “powers that be” in attempt to Gain control of BTC and other cryptos.
They are trying to put into regulations etc. Yet there are troubles to making the cryptos as “securities”
With all the lawsuits “they “ try to put onto the crypto companies. Has not worked in the “favour” of the powers that be?
Is this true?.

There's already an ongoing frightening issues going on in my country that the federal government are trying to manipulate the process of Crypto blockchain to their control by disassociating our local from the crypto exchanges and penalizing fintech banks associating with transactions on the crypto P2P.

Regulations Not Working?
Does this prove that the blockchain tech is a success?

That BTC could work as a money system for the people and help people to devalue FIAT currency?

Or am I wrong and the “powers that be” are winning  and people will lose in the crypto world?

Your thoughts?

Yes of course, crypto blockchains technology is a success and that's why the government are going mad over it since they can't break into it.
The government has no impact that contributed to the development of bitcoin currency and doesn't have documentation about the origin of bitcoin and so they can't get into it.
Bitcoinehas never tended to devalue the fiats but alternative means to make payments. Bitcoin isn't responsible for any outcome of devaluing the fiats rather the government in control of the centralized currencies does by which it depends on the countries economy growth which determines the value to the the fiats.
Bitcoin as a digital currency also do have its economy challenges at its volatile potentiality of inflation and deflations.
The government are only selfish and tasty to takeover a system which is designed to be non custodial because they could understand that potentials it's.

The blockchain of bitcoin isn't projected to be one of those techs that would be folded and unfolds to the governance of the centralized authorities.
But whichever way, bitcoin potentials of breaking the chain of poverty thats projected by the government against the poor masses can be contradicted.

[franky1]

alot of people think/assume/hoped that regulations were about consumer protections to avoid centralised services facilitating illegal activities that can cause other innocent customers to be abused and lose value due to bad acts of the services

however regulations actually allow services to police the customers to then allow the service to evade themselves being liable for the illicit acts of their customers

bitcoin has no ears, eyes, mouth or brain to interpret fiat regulations, bitcoin only knows its own code.. so as long as bitcoin code does not emulate fiat regulations bitcoin is not affected bt fiat regulations.. however people and businesses that are guided by regulations are tied and controlled by those regulations whether they(businesses and people) use bitcoin or not

[oktana]

Regulations Not Working?

Do you think it is true, that right now with the governments, banks “powers that be” in attempt to Gain control of BTC and other cryptos.
They are trying to put into regulations etc. Yet there are troubles to making the cryptos as “securities”
With all the lawsuits “they “ try to put onto the crypto companies. Has not worked in the “favour” of the powers that be?
Is this true?

Does this prove that the blockchain tech is a success?

That BTC could work as a money system for the people and help people to devalue FIAT currency?

Or am I wrong and the “powers that be” are winning  and people will lose in the crypto world?

Your thoughts?

When you say “help people devalue fiat”, understand that this isn’t the intention of Bitcoin. I understand it can happen but you say it like that’s the purpose. I think it will be just fine if both type of currencies can coexist and people can choose which one they want to use other than it being a battle (which Bitcoin isn’t battling against no one).

[peter0425]

Do you think it is true, that right now with the governments, banks “powers that be” in attempt to Gain control of BTC and other cryptos.

Yes many government of different countries have attempted to put in regulations that may hinder people from continuing to use or participate in any crypto-related activities.

Has not worked in the “favour” of the powers that be?
Is this true?

Does this prove that the blockchain tech is a success?

Personally I think governments are having a hard time trying to control crypto because even they do not understand it completely. Its decentralized nature makes it hard for the government to just grab it by its neck and kill it. Crypto is a very gray area if you will so regulations must be wisely implemented.

[Upgrade00]

That BTC could work as a money system for the people and help people to devalue FIAT currency?

Bitcoin was never intended to devalue fiat currencies, that's not the objective of the network.

And regulations are working to a very large extent. Majority of Bitcoin users gain exposure to it through centralized channels which the government control and regulate. The pockets of users who are keen on privacy and decentralization grows smaller constantly and the government is already targeting privacy channels, making it difficult for users to stay under the radar.

[stompix]

Personally I think governments are having a hard time trying to control crypto because even they do not understand it completely. Its decentralized nature makes it hard for the government to just grab it by its neck and kill it.

Yeah, that stupid government, oh for god's sake let's stop with this non-sense.
The same government that has no idea how crypto works has created both SHA2 and TOR, while 90% of the crypto users claim to understand crypto better than the government and have no idea how to select the fees they pay for a tx nor do they know what's the difference between a node and a miner.

They don't have a clue about it but they were able to take down services and trace individuals based on one tx for a Walmart card while crypto users are failing to address poisoning copy-paste attacks yet yeah, they are the stupid ones.

Do you think it is true, that right now with the governments, banks “powers that be” in attempt to Gain control of BTC and other cryptos.
They are trying to put into regulations etc. Yet there are troubles to making the cryptos as “securities”

So the government that controls everything wants to make crypto securities but they can't because...they don't control everything.
Why do all these theories lack even one tiny bit of logic?

[pakhitheboss]

Personally I think governments are having a hard time trying to control crypto because even they do not understand it completely. Its decentralized nature makes it hard for the government to just grab it by its neck and kill it. Crypto is a very gray area if you will so regulations must be wisely implemented.

I have read the list of government ruling in their respective countries that are holding Bitcoin. List of countries holding the biggest stach of Bitcoin. That means the government of thse countries are trying to gain from Bitcon rather confiscating it or selling it in the global market.

Next, we can see how a few countries like the US have come up with ETFs so that they can control a decentralized product through their financial institution. This is just the beginning we will be seeing more of such ways to try and take control of Bitcoin and it's price.

Do you still think the government are having a hard time to understand and accumulate Bitcoin for their own agenda. I doubt they are clueless and I think they are on thier path to make a decentralized economy to centralized economy.

[btc78]

Do you still think the government are having a hard time to understand and accumulate Bitcoin for their own agenda. I doubt they are clueless and I think they are on thier path to make a decentralized economy to centralized economy.

I think we do not give enough credit to governments. Government has the ability to hire the right people in different fields and sectors. For sure they have a group of people studying about crypto and ways how they can a) deal with and b) benefit from crypto.

Of course they are not going to lay their cards out in the open. They want us to think that they are clueless but they are almost never clueless and in fact most of the time knows more than they should.

[Cryptomultiplier]

Personally I think governments are having a hard time trying to control crypto because even they do not understand it completely. Its decentralized nature makes it hard for the government to just grab it by its neck and kill it. Crypto is a very gray area if you will so regulations must be wisely implemented.

I have read the list of government ruling in their respective countries that are holding Bitcoin. List of countries holding the biggest stach of Bitcoin. That means the government of thse countries are trying to gain from Bitcon rather confiscating it or selling it in the global market.

Next, we can see how a few countries like the US have come up with ETFs so that they can control a decentralized product through their financial institution. This is just the beginning we will be seeing more of such ways to try and take control of Bitcoin and it's price.

Do you still think the government are having a hard time to understand and accumulate Bitcoin for their own agenda. I doubt they are clueless and I think they are on thier path to make a decentralized economy to centralized economy.

Regulation has always been the plan of the government of many countries these days inorder to control what they don't benefit from or have a direct effect on. Since many central banks has failed to meet customer needs, the decentralized network has been seen as a salvation and as it is now being regulated, I still think it is just only some aspects of it that's controlled and it's working.

[Yamane_Keto]

So far, the regulations have not addressed Bitcoin as a protocol.  regulation happens at the level of mixers, and central services. The Bitcoin protocol, mining, and decentralized services are still working without government interventions in how to implement them.
If governments decide to centralize Bitcoin, they may not succeed in doing that, but its value will be much lower than the current value, and the blockchain may be weaker due to the limited hashrate.

[alastantiger]

Regulations are working. Especially for centralized exchanges. They comply with a lot of government policies and the have no choice than to do it or face sanctions or be expelled from that country where they are doing business. The consequence of this is that they lose a large customer to a competitor and the lose revenue in the long run especially when it is in a country that has a growing number of crypto users. Because they put profit first over their users, centralized exchange have no other option than to bow to the regulation of the powers that be.

[Medusah]

Those in power still have control over 99% of the people who invest in cryptocurrencies.  This is primarily due to the fact that most users undergo Know Your Customer procedures and are consistently monitored either through centralized exchanges or by chain analysis.  Privacy-conscious people who engage in coinjoining represent only a tiny fraction.  And now that Samourai Wallet is seized by the authorities...  even less. 

Bitcoin is currently a surveillance paradise.  Regulations will unfold as intended. 

[electronicash]

since we all have to comply with the KYC regardless of the success the price of BTC is going up and the adoption rate increased, they could say is working in their favor because they are also gradually taking control of the market through ETFs.

whether compromised or not, doesn't matter anymore because everyone is busy trying to live already in the current economy. we are all submissive.

[Alone055]

Personally I think governments are having a hard time trying to control crypto because even they do not understand it completely. Its decentralized nature makes it hard for the government to just grab it by its neck and kill it. Crypto is a very gray area if you will so regulations must be wisely implemented.

What makes you think the governments don't understand cryptocurrencies or the blockchain system? Apart from a few third-world countries where government officials are chosen based on power and most of them are a bunch of illiterates, all other governments consist of people who are very well-educated and understand everything very clearly, they live in the same world as we do. So if we can understand everything, they can understand it too.

There is no rocket science in it, everything is very clear and easily understandable, and anyone conducting a bit of research can understand everything. When we talk about regulations, they know very well what they need to do, and they have regulated platforms and things where they know most people would go at some point, such as centralized exchanges that we use to convert our cryptocurrencies into fiat through the P2P marketplaces.

These platforms ask us to verify our identities before we use their services, why so? Because they are regulated. So, in a country where the government has regulations in place, a person within that country using a centralized P2P exchange is easily exposed to them.

[serjent05]

Does this prove that the blockchain tech is a success?

With the attention of the government getting focus on regulating this technology, I think the blockchain tech is somehow successful.  If it is a failure then the government won't even pay attention to it.

That BTC could work as a money system for the people and help people to devalue FIAT currency?

I agree with the earlier replies that Bitcoin was not created to devalue Fiat currency but rather modeled to remove  third party authorities from the equation in sending transactions.  To make the fee cheaper (but with the BRC tokens and ordinals made it impossible) and give more freedom to users in terms of transactions.

Or am I wrong and the “powers that be” are winning  and people will lose in the crypto world?

Your thoughts?

Whoever had the authority will prevail unless the masses turns the table and gain the authority.  Regulations are there to restrict people and put them under control.  It does not work for the benefit of the people but rather works for the benefit of the estate.  Since setting regulations, the authority can do whatever they wanted in disguise of implementing the law, they can even pillage the money/fund/BTC of any individual in disguise of ceasing them due to money laundering.

[Faisal2202]

Or am I wrong and the “powers that be” are winning  and people will lose in the crypto world?

Your thoughts?

Governments and authorities are working to make BTC as centralized as they can. And they are doing every possible thing to eliminate all the tools and platforms that provide us anonymity. But still where is demand there is supply. One will be closed other will rise. The point is why they are against anonymity. Why they want to keep the track of our money?

Well, answers to these questions are not so hard. Speaking of the fiat system it can't be devalued or eliminated. Because banks (fiat) is directly related to BTC. And most of the platforms which excluded the banks from the centre as middlemen and directly allowed people to deal with Crypto or BTC with fiat and vice versa are being used in bad usecases.

Which is not good for the future of BTC therefore IMHO such rules and regulations are good to some extent as traditional people will only accept or adopt it until governments won't do something about it. Either they will go against or in support of it.

[Die_empty]

When you say “help people devalue fiat”, understand that this isn’t the intention of Bitcoin. I understand it can happen but you say it like that’s the purpose. I think it will be just fine if both type of currencies can coexist and people can choose which one they want to use other than it being a battle (which Bitcoin isn’t battling against no one).

The government understands the crypto space more than most people. They hire some of the best hands who have wide exposure and experience in the crypto space. Assuming that the government has not gotten control over the system because it is ignorant is self-deception.

Do you think it is true, that right now with the governments, banks “powers that be” in attempt to Gain control of BTC and other cryptos.
They are trying to put into regulations etc. Yet there are troubles to making the cryptos as “securities”

So the government that controls everything wants to make crypto securities but they can't because...they don't control everything.
Why do all these theories lack even one tiny bit of logic?

One of the reasons why I think the government has not achieved its aim of controlling the cryptosystem, especially in the US is that the country ha has a working democratic system. The three arms of government are independent and the checks and balance system works to some extent. There are still crypto supporters in Congress who oppose the anti-crypto law. Crypto firms can also take their grievances to court and get judgment which favours the industry.

[letteredhub]

That BTC could work as a money system for the people and help people to devalue FIAT currency?

This misinterpretation you've just laid here is same misinterpreted notion the government has about bitcoin that is making them go after bitcoin and it users throwing all kinds of harsh policies on them. With that fear that bitcoin has come to replace fiat and therefore devalue it as though they were in competition. Bitcoin is only an alternative digital currency here to provide self custody of individual finance (privacy) to those who pick interest in it and in addendum proffering financial freedom. More interestingly, a lot of persons adopts bitcoin today as an hedge against inflation which fiat is peone to.  Nothing like helping people to devalue fiat.

[hatshepsut93]

They can't control every aspect of Bitcoin and they don't need to. The want to control how average joe uses Bitcoin, and that's very easy to achieve - just set the rules for exchanges and other big services and that's it, because most people interact with Bitcoin through them. There's no need for sophisticated plots to take over Bitcoin mining or development if for 99% of people Bitcoin is useless when it can't be converted into $$ in their bank account.