Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency discussions => Topic started by: bayu7adi on October 21, 2024, 05:10:10 AM
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We know that the government's principle of managing this spatial plan is a bit contrary to the decentralization principle of cryptocurrency... some of us have little hope for mass adoption of cryptocurrency, while we also realize that the concept of cryptocurrency is very much contrary to what the government expects...
Is there no solution? Is decentralized cryptocurrency really not globally adopted?
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I am sure this is one of the hardest questions or concerns to consider when we are talking on decentralization and regulation as the two can collide on their very fundamental aspects. Decentralization means no control from anybody be they coming from the usual financial institutions much more the government then the concept of regulation is all about control in one degree or another and they can all be creating an "explosion" like an unmovable thing against an unstoppable one. So can be a common ground which can be acceptable to all parties? We are all hoping one can be devised. Like one can be free to acquire cryptocurrencies the sky is the limit but when one is going to sell them they have to do it in a registered exchange where KYC can be required and where data can be accessible by all including the government. Would that be a good compromise? Sadly, we can never eliminate the role and power of the government in the whole process unless we are promoting anarchy where there is no law and all can be for themselves. Now, I think what is happening with Bitcoin and ETF in the USA market can be a good model and example of fusing decentralization and regulation...though of course some may argue that this is not the case.
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I've read there are efforts or initiatives looking for a happy medium. An example is the EU's Markets in Crypto-Assets Regulation (MiCA). MiCA is planning to make guidelines to protect investors and prevent illicit activities while fostering innovation and decentralization. I think it's important that regulators collaborate with crypto industry folks in creating policies that respect decentralization and protect crypto owners as well.
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I've read there are efforts or initiatives looking for a happy medium. An example is the EU's Markets in Crypto-Assets Regulation (MiCA). MiCA is planning to make guidelines to protect investors and prevent illicit activities while fostering innovation and decentralization. I think it's important that regulators collaborate with crypto industry folks in creating policies that respect decentralization and protect crypto owners as well.
And hopefully, it will be beneficial to both. Otherwise, it won't make sense ;D
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We know that the government's principle of managing this spatial plan is a bit contrary to the decentralization principle of cryptocurrency... some of us have little hope for mass adoption of cryptocurrency, while we also realize that the concept of cryptocurrency is very much contrary to what the government expects...
Is there no solution? Is decentralized cryptocurrency really not globally adopted?
There is no such thing in the world which is accepted everywhere in the world. And in the world there are conflicts between countries and some countries have less possibility to adopt many things due to political reasons. For example, cryptocurrency is currently illegal in my region and it was mainly because of political reasons that the previous government did not approve it. Currently, the government has changed and we are somewhat optimistic.
Now it is very easy to say whether cryptocurrency or decentralization will be a global happy adoption as many years ago people used to buy and sell things only through gold or silver and now that place has been taken by fiat currencies and these are now digital as people have adopted them globally. It is hoped that these decentralizations of cryptocurrency will be accepted globally, whether after ten years or after 50 years.
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FWIW, government could try to regulate how people and company use their cryptocurrency rather than attempt to regulate cryptocurrency directly.
I've read there are efforts or initiatives looking for a happy medium. An example is the EU's Markets in Crypto-Assets Regulation (MiCA). MiCA is planning to make guidelines to protect investors and prevent illicit activities while fostering innovation and decentralization. I think it's important that regulators collaborate with crypto industry folks in creating policies that respect decentralization and protect crypto owners as well.
Let's not forget that MiCa initial draft plan to ban PoW coins (including Bitcoin) which barely avoided[1] and MiCa itself makes exchange unable to accept Monero[2].
[1] https://www.coindesk.com/policy/2022/03/14/proposal-limiting-proof-of-work-is-rejected-in-eu-parliament-committee-vote-sources/ (https://www.coindesk.com/policy/2022/03/14/proposal-limiting-proof-of-work-is-rejected-in-eu-parliament-committee-vote-sources/)
[2] https://monero.observer/kraken-to-delist-monero-european-economic-area-31-october-2024/ (https://monero.observer/kraken-to-delist-monero-european-economic-area-31-october-2024/)
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We know that the government's principle of managing this spatial plan is a bit contrary to the decentralization principle of cryptocurrency... some of us have little hope for mass adoption of cryptocurrency, while we also realize that the concept of cryptocurrency is very much contrary to what the government expects...
Is there no solution? Is decentralized cryptocurrency really not globally adopted?
Government just wants to protect themselves. It's very simple to understand and that's why they fight so much against decentralization. To me, the main reason why some people are actually adopting cryptocurrency it's because of the idea about decentralization. People wants something that gives them control over their money. Who wants a system where the government has a say over them? But then, we all know that it's not going to go down easy. The government won't want to accept anything that they can't control. This is why decentralization is still drawing behind.
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FWIW, government could try to regulate how people and company use their cryptocurrency rather than attempt to regulate cryptocurrency directly.
I've read there are efforts or initiatives looking for a happy medium. An example is the EU's Markets in Crypto-Assets Regulation (MiCA). MiCA is planning to make guidelines to protect investors and prevent illicit activities while fostering innovation and decentralization. I think it's important that regulators collaborate with crypto industry folks in creating policies that respect decentralization and protect crypto owners as well.
Let's not forget that MiCa initial draft plan to ban PoW coins (including Bitcoin) which barely avoided[1] and MiCa itself makes exchange unable to accept Monero[2].
[1] https://www.coindesk.com/policy/2022/03/14/proposal-limiting-proof-of-work-is-rejected-in-eu-parliament-committee-vote-sources/ (https://www.coindesk.com/policy/2022/03/14/proposal-limiting-proof-of-work-is-rejected-in-eu-parliament-committee-vote-sources/)
[2] https://monero.observer/kraken-to-delist-monero-european-economic-area-31-october-2024/ (https://monero.observer/kraken-to-delist-monero-european-economic-area-31-october-2024/)
Interestingly, what exactly made them delist it (Monero), and what "rules" did it break?
Maybe I should dig a bit deeper than that, is it because it is untraceable and such?
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Honestly speaking government regulation on cryptocurrency is the biggest setback to decentralization, However I am very optimistic that cryptocurrency will survive regulations no matter the effort by government to control crypto at their own will.
One solution, in my opinion, is Anonymity.
Government efforts on regulation has proven very difficult to outrightly regulate because there are still anonymous coins transactions that are still moving in line with decentralized plans of cryptocurrency, though government are trying to tag them as security. What ever effort government makes, I think decentralization will not be completely eroded off because many projects will venture into Anonymity options.
In addition, as government is pushing to kill decentralization, so also the crypto experts will always come up with alternative ideas to keep the ecosystem on the decentralized core plans.
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We know that the government's principle of managing this spatial plan is a bit contrary to the decentralization principle of cryptocurrency... some of us have little hope for mass adoption of cryptocurrency, while we also realize that the concept of cryptocurrency is very much contrary to what the government expects...
Is there no solution? Is decentralized cryptocurrency really not globally adopted?
Still going to be 50/50 as far as I know, as we have seen, there are countries that really adopted it, some are in the middle and gray era, and countries that totally ban crypto. So with that, we might not see mass adoption because of this. On the contrary, should we really be wanting crypto or at least Bitcoin be adopted? I mean it has a capped of 21 millions so for sure there are people that are not going to see Bitcoin in their lifetime. So for me, doesn't matter if we will have crypto adoption globally, as long as we are still in the few then it might be good for us in the long run so that there might be enough for crypto enthusiast.
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Regulation means controlling while decentralisation is the opposite of it so I don't think it's possible to make it completely decentralised while making it regulated, already this become evident when the government pushing the crypto service providing platforms to collect KYC data of all the users that reduced the decentralisation of coins like Bitcoin itself so it can be either this or that with this kind of regulatory policies.
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Well let's not be naive in our definitions. Decentralisation is a type of regulation too. Now if you're suggesting a central body in control, like say the government for example then you are obviously against decentralisation and looking more into a Centralised ecosystem. Anyways thankfully, bitcoin is decentralised meaning it isn't regulated by a central body like the government or a specific group.
Decentralisation is still an effective form of regulation as everyone is co- jointly in control. You and I who are bitcoiners, developers and miners all control the network together although the power of control isn't equally distributed , it is rationed based on each entities effect on the network just like a miners hash rate speaks for him as well as a whales coins does too.
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Regulation means controlling while decentralisation is the opposite of it so I don't think it's possible to make it completely decentralised while making it regulated, already this become evident when the government pushing the crypto service providing platforms to collect KYC data of all the users that reduced the decentralisation of coins like Bitcoin itself so it can be either this or that with this kind of regulatory policies.
If they are centralized, yeah, that's how the rules go..
However, DEXes are just not as convenient for now.
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We know that the government's principle of managing this spatial plan is a bit contrary to the decentralization principle of cryptocurrency... some of us have little hope for mass adoption of cryptocurrency, while we also realize that the concept of cryptocurrency is very much contrary to what the government expects...
Is there no solution? Is decentralized cryptocurrency really not globally adopted?
As for the government aspects, we cant allow for them to take over decentralization and make everything centralized back to where we were coming from, its either they responded to the demand of the people in need for a decentralized network for their financial economy through cryptocurrency or they leave it as it has always been, because they peoples need will always surpass the government rule because we are more powerful than the government and our could go a long way in unity.
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We know that the government's principle of managing this spatial plan is a bit contrary to the decentralization principle of cryptocurrency... some of us have little hope for mass adoption of cryptocurrency, while we also realize that the concept of cryptocurrency is very much contrary to what the government expects...
Is there no solution? Is decentralized cryptocurrency really not globally adopted?
The regularisation of cryptocurrencies is what is still making it not fully adopted as we want it to be, we just have to continue pushing while hoping that one day that global adoption will come with government not winning over decentralization. It is not easy for some innovations to come and overpower the existing system of the government when governments is the super house where the super power resides. We can only keep hoping and pushing from our end gradually but frankly it’ll be a good one if that’s achieved in the long time but for now they’re just bent in fighting this decentralised system and will want to win over it or else they regulate it which is not what the aim of decentralisation should be.
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if its regulated then its already centralized. the stock market or the forex market is somewhat this way where everyone has to submit our KYC as well. so more than likely authorities are still going to handle everything despite how cryptocurrencies claimed to be decentralized.
but because there are decentralized exchanges, it somehow keep the idea of decentralization. and the continuous creation of coins seem to give another meaning for decentralization.
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Honestly speaking government regulation on cryptocurrency is the biggest setback to decentralization, However I am very optimistic that cryptocurrency will survive regulations no matter the effort by government to control crypto at their own will.
One solution, in my opinion, is Anonymity.
Government efforts on regulation has proven very difficult to outrightly regulate because there are still anonymous coins transactions that are still moving in line with decentralized plans of cryptocurrency, though government are trying to tag them as security. What ever effort government makes, I think decentralization will not be completely eroded off because many projects will venture into Anonymity options.
In addition, as government is pushing to kill decentralization, so also the crypto experts will always come up with alternative ideas to keep the ecosystem on the decentralized core plans.
Yeah, even if governments want to control crypto and reduce decentralization, it won't be easy when validators are distributed across many countries, each with their own crypto policies.
All governments can do is propose solutions, listen to investor and user feedback to understand and support crypto's development while cleaning up low-quality projects in the market. Some governments are operating CEXs to generate revenue and transaction fees, which I think is a smart move for them to understand the market better before officially supporting it.
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if its regulated then its already centralized. the stock market or the forex market is somewhat this way where everyone has to submit our KYC as well. so more than likely authorities are still going to handle everything despite how cryptocurrencies claimed to be decentralized.
Yes, this will apply to leib settings in general, especially CEXs which are located in areas where the law regarding crypto is really under the governance. So inevitably there will be government intervention in Indonesia, regarding regulations both for exchanges or projects and the problems of investors or users as a whole.
It's just that when it comes to regulating crypto as a whole, it will be difficult to do, especially if transactions are carried out on DEX or on any type of decentralized platform. then it will be difficult for them to touch it, control it, and also regulate it.
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if its regulated then its already centralized. the stock market or the forex market is somewhat this way where everyone has to submit our KYC as well. so more than likely authorities are still going to handle everything despite how cryptocurrencies claimed to be decentralized.
but because there are decentralized exchanges, it somehow keep the idea of decentralization. and the continuous creation of coins seem to give another meaning for decentralization.
it is indeed difficult to associate the government with decentralization, not touching decentralization, will only make a lot of fraud happen... so I think it is really something that is impossible to happen...
even I think when the government does not touch anything about decentralization, and they impose taxes as compensation... it will still eliminate the existence of decentralization
the problem is the government cannot take any advantage without KYC.
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if its regulated then its already centralized. the stock market or the forex market is somewhat this way where everyone has to submit our KYC as well. so more than likely authorities are still going to handle everything despite how cryptocurrencies claimed to be decentralized.
but because there are decentralized exchanges, it somehow keep the idea of decentralization. and the continuous creation of coins seem to give another meaning for decentralization.
it is indeed difficult to associate the government with decentralization, not touching decentralization, will only make a lot of fraud happen... so I think it is really something that is impossible to happen...
even I think when the government does not touch anything about decentralization, and they impose taxes as compensation... it will still eliminate the existence of decentralization
the problem is the government cannot take any advantage without KYC.
They can tax the hell out of it, though, only time will tell how that would go ;D
In the end, we should find some balance in that question, because neither side would give up on its ideals.
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--snip--
Interestingly, what exactly made them delist it (Monero), and what "rules" did it break?
Maybe I should dig a bit deeper than that, is it because it is untraceable and such?
From my past research, some people suspect Article 68 on MiCa as the reason.
The operating rules of the trading platform for crypto-assets shall prevent the admission to trading of crypto-assets which have inbuilt anonymisation function
unless the holders of the crypto-assets and their transaction history can be identified by the crypto-asset service providers that are authorised for the operation of a trading platform for crypto-assets or by competent authorities.
You can find text i quoted above on page 93.
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if its regulated then its already centralized. the stock market or the forex market is somewhat this way where everyone has to submit our KYC as well. so more than likely authorities are still going to handle everything despite how cryptocurrencies claimed to be decentralized.
Yes, this will apply to leib settings in general, especially CEXs which are located in areas where the law regarding crypto is really under the governance. So inevitably there will be government intervention in Indonesia, regarding regulations both for exchanges or projects and the problems of investors or users as a whole.
It's just that when it comes to regulating crypto as a whole, it will be difficult to do, especially if transactions are carried out on DEX or on any type of decentralized platform. then it will be difficult for them to touch it, control it, and also regulate it.
Yeah, govs can touch what they can reach, but some parts of the space would be an issue for them, generally speaking, which is good security and decentralization-wise.
However, the overall trend is pretty worrying.
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--snip--
Interestingly, what exactly made them delist it (Monero), and what "rules" did it break?
Maybe I should dig a bit deeper than that, is it because it is untraceable and such?
From my past research, some people suspect Article 68 on MiCa as the reason.
The operating rules of the trading platform for crypto-assets shall prevent the admission to trading of crypto-assets which have inbuilt anonymisation function
unless the holders of the crypto-assets and their transaction history can be identified by the crypto-asset service providers that are authorised for the operation of a trading platform for crypto-assets or by competent authorities.
You can find text i quoted above on page 93.
I see. Thanks, I will dig into it a bit later.
Much appreciated!
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I really doubt that because if crypto is being regulated globally it would be centralized and crypto being centralized makes it a whole less fun because there are going to be a whole lot of rules and regulations guarding it and I'm sure a lot of users here wouldn't want to participate no more in crypto when it's centralized and the number of participants will reduce drastically because as crypto is decentralized it's widely accepted by people, and people are enjoying the fact that they have an investment and they are unknown of the worth of the assets they are holding, the issue of centralization is just the government messing around it wont work.
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Is there no solution? Is decentralized cryptocurrency really not globally adopted?
Government regulation of crypto can be strict sometimes, take the U.S. for example, with Gary Gensler and the sec attacking crypto firms and projects nonstop. We must understand that the government would never fancy a decentralized project that they cannot control, but we can do with a lenient kind of regulation and not constant attacks.
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Who will regulate globally?
If each country may be yes, but if globally, is there a global body that is responsible for regulating something, especially crypto?
Usually it will be large countries that are indeed very influential in global world developments that provide certain rules related to cryptocurrency, and in the end the news affects the crypto market in general. but if it is regulated globally, hmm I'm not sure, because each country has its own interests and authorities. like right now there are countries that free and legalize it but there are also those that strictly make crypto illegal and regulate crypto in their country according to the provisions of each country.
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We know that the government's principle of managing this spatial plan is a bit contrary to the decentralization principle of cryptocurrency... some of us have little hope for mass adoption of cryptocurrency, while we also realize that the concept of cryptocurrency is very much contrary to what the government expects...
Is there no solution? Is decentralized cryptocurrency really not globally adopted?
I think this is a difficult discussion because I see that the regulations for one region are different. There are countries that do not agree with the existence of cryptocurrency and there are also those that are widely open to crypto adoption. If there are many statements like this, the results will definitely depend on all countries, whether the country opens its eyes or closes its eyes to all the technology produced by cryptocurrency.
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We know that the government's principle of managing this spatial plan is a bit contrary to the decentralization principle of cryptocurrency... some of us have little hope for mass adoption of cryptocurrency, while we also realize that the concept of cryptocurrency is very much contrary to what the government expects...
Is there no solution? Is decentralized cryptocurrency really not globally adopted?
In my opinion,I don't think that would be entirely possible,really.
Cypto being decentralised is what makes it unique as a digital currency unlike other fiat currencies.When investors can particularly affect the way the way the market moves is really what makes crypto interesting and welcomes more investors to the crypto market.
If crypto should be regulated globally with th effect of sacrificing decentralisation,i guess it could crumbl the market because alot of investors might withdraw from the market.
Except we use decentralised government models like DAO's and global copperation along with info sharing among others,i guess this would be a tough nut to crack.
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We know that the government's principle of managing this spatial plan is a bit contrary to the decentralization principle of cryptocurrency... some of us have little hope for mass adoption of cryptocurrency, while we also realize that the concept of cryptocurrency is very much contrary to what the government expects...
Is there no solution? Is decentralized cryptocurrency really not globally adopted?
In my opinion,I don't think that would be entirely possible,really.
Cypto being decentralised is what makes it unique as a digital currency unlike other fiat currencies.When investors can particularly affect the way the way the market moves is really what makes crypto interesting and welcomes more investors to the crypto market.
If crypto should be regulated globally with th effect of sacrificing decentralisation,i guess it could crumbl the market because alot of investors might withdraw from the market.
Except we use decentralised government models like DAO's and global copperation along with info sharing among others,i guess this would be a tough nut to crack.
I don't see all the govs unite in "regulating" crypto - so, we may see the things going for such a case, but it won't be during our lifetime, probably ;D
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We know that the government's principle of managing this spatial plan is a bit contrary to the decentralization principle of cryptocurrency... some of us have little hope for mass adoption of cryptocurrency, while we also realize that the concept of cryptocurrency is very much contrary to what the government expects...
Is there no solution? Is decentralized cryptocurrency really not globally adopted?
I think this is a difficult discussion because I see that the regulations for one region are different. There are countries that do not agree with the existence of cryptocurrency and there are also those that are widely open to crypto adoption. If there are many statements like this, the results will definitely depend on all countries, whether the country opens its eyes or closes its eyes to all the technology produced by cryptocurrency.
Yeah, the govs are not united in their beliefs, currently.
And that's good for the space, in reality ;D
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Is there no solution? Is decentralized cryptocurrency really not globally adopted?
Government regulation of crypto can be strict sometimes, take the U.S. for example, with Gary Gensler and the sec attacking crypto firms and projects nonstop. We must understand that the government would never fancy a decentralized project that they cannot control, but we can do with a lenient kind of regulation and not constant attacks.
Do you think that in the future we would see somebody else with better views on crypto? ;D
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We know that the government's principle of managing this spatial plan is a bit contrary to the decentralization principle of cryptocurrency... some of us have little hope for mass adoption of cryptocurrency, while we also realize that the concept of cryptocurrency is very much contrary to what the government expects...
Is there no solution? Is decentralized cryptocurrency really not globally adopted?
I think this is a difficult discussion because I see that the regulations for one region are different. There are countries that do not agree with the existence of cryptocurrency and there are also those that are widely open to crypto adoption. If there are many statements like this, the results will definitely depend on all countries, whether the country opens its eyes or closes its eyes to all the technology produced by cryptocurrency.
Yes, each country has its own policy in accepting crypto, some give crypto permission for investment and some open crypto to be used as a payment method. And we also know that there are countries that do not allow both at all.
whereas the government should allow crypto to enter their country because they can take taxes from every transaction on the local exchange.
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Who will regulate globally?
If each country may be yes, but if globally, is there a global body that is responsible for regulating something, especially crypto?
Usually it will be large countries that are indeed very influential in global world developments that provide certain rules related to cryptocurrency, and in the end the news affects the crypto market in general. but if it is regulated globally, hmm I'm not sure, because each country has its own interests and authorities. like right now there are countries that free and legalize it but there are also those that strictly make crypto illegal and regulate crypto in their country according to the provisions of each country.
not globally but the ruling party in the region. say Europe they already have Markets in Crypto-Assets Regulation (MiCA). given that every corner of the globe already are member of an economic bloc. so their own regulatory body shall regulate the member countries but all exchanges as well will need to comply to the regulations of these countries
those exchanges not complying or the DEXes can operate in the deeper web using the onions. ;D
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Mainstream adoption compels that all transactions goes through regulations and all holders be accountable on what they are holding for taxation and compliance purposes, so its going to be very hard, the regulators will not give way; their reason is that they are trying to protect their citizen from bad actors and errors, so it has become the choice of the holders if he wants to be under the government watch or try to hide his activity related to Cryptocurrency.
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I believe this is the biggest dilemma in the crypto world, for me it is not technically possible, then why regulate on a global level? just to pay more taxes? it goes against the very principle of altcoins, that is, the elimination of intermediaries and decentralization
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We know that the government's principle of managing this spatial plan is a bit contrary to the decentralization principle of cryptocurrency... some of us have little hope for mass adoption of cryptocurrency, while we also realize that the concept of cryptocurrency is very much contrary to what the government expects...
Is there no solution? Is decentralized cryptocurrency really not globally adopted?
I think this is a difficult discussion because I see that the regulations for one region are different. There are countries that do not agree with the existence of cryptocurrency and there are also those that are widely open to crypto adoption. If there are many statements like this, the results will definitely depend on all countries, whether the country opens its eyes or closes its eyes to all the technology produced by cryptocurrency.
Yeah, the govs are not united in their beliefs, currently.
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Why don't all governments in a country or state unite to accept Bitcoin?? The reason is because there are so many factors that consider the effects of Bitcoin's badness, such as theft, hacking, unstable prices. As far as I know, the government doesn't like something that is uncertain, such as the price of Bitcoin which is uncertain when it will go up and down.
We know that the government's principle of managing this spatial plan is a bit contrary to the decentralization principle of cryptocurrency... some of us have little hope for mass adoption of cryptocurrency, while we also realize that the concept of cryptocurrency is very much contrary to what the government expects...
Is there no solution? Is decentralized cryptocurrency really not globally adopted?
I think this is a difficult discussion because I see that the regulations for one region are different. There are countries that do not agree with the existence of cryptocurrency and there are also those that are widely open to crypto adoption. If there are many statements like this, the results will definitely depend on all countries, whether the country opens its eyes or closes its eyes to all the technology produced by cryptocurrency.
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whereas the government should allow crypto to enter their country because they can take taxes from every transaction on the local exchange.
This position is if only the country opens its eyes to the presence of cryptocurrency but still if a country is not open minded to cryptocurrency then the result is that they will not collect taxes from the results of crypto trading.
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Is there no solution? Is decentralized cryptocurrency really not globally adopted?
There is absolutely no negotiation on decentralization especially on at the concerns of no third parties required to facilitate on transactions like the cryptocurrency facilities.
Perhaps, cryptocurrencies is already a global source acceptable currency which means it is potential for global adoption but the governments would always disagree to it to an extend because the government only facilitates on sectors that they have rights on its regulations.
To me the government's are mere entities while individuals making a massive bodies are also entities so, let ignore the persistence of the government agitation on regulating crypto currencies before it is massively adopted.
We are the bodies and the entities which we can always adopt the use of crytop currencies even While the government are not in support of it.
The only problem we would have is when a specific government pronounces it an illegal technology.
So giving it upon the government regulations is a compromise as Cryptocurrency is designed to be decentralized.
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FWIW, government could try to regulate how people and company use their cryptocurrency rather than attempt to regulate cryptocurrency directly.
i doubt many of them would be inclined to protect the cryptocurrency industry without having any access/control over it many governments still like to paint crypto as dangerous and useless thus shall not be used they know that crypto can have some impact on fiat and obviously they don’t want that so if their citizens will be asking for protection they’ll find a way to involve themselves and get something out of it in the process
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We know that the government's principle of managing this spatial plan is a bit contrary to the decentralization principle of cryptocurrency... some of us have little hope for mass adoption of cryptocurrency, while we also realize that the concept of cryptocurrency is very much contrary to what the government expects...
Is there no solution? Is decentralized cryptocurrency really not globally adopted?
Well I doubt if that will be possible stating the fact that decentralization in crypto currency is one of the major factors that influences the crypto market because it is a safe space when investors can or have a chance to influence the way the market moves.
Withdrawing decentralization from crypto is also withdrawing investors since decentralization as a factor is the joy of investing in crypto currency.
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We know that the government's principle of managing this spatial plan is a bit contrary to the decentralization principle of cryptocurrency... some of us have little hope for mass adoption of cryptocurrency, while we also realize that the concept of cryptocurrency is very much contrary to what the government expects...
Is there no solution? Is decentralized cryptocurrency really not globally adopted?
I don't really think so.
Mainly because decentralization is seen as one of the key features that shapes the crypto market.
Decentralization in cryptocurrency basically involves how investors like us are able to shape the crypto market.
Sacrificing decentralization from cryptocurrency takes away the joy of cryptocurrency which makes it unique unlike other fiat currrencies
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Is there no solution? Is decentralized cryptocurrency really not globally adopted?
I think what makes crypto currency unique and different from another another market is decentralization and that is what actually defines it so any thing that will affect the decentralization of crypto will affect the future of crypto currency and that is what government of many nations which are too blind to see the good side of crypto currency is fighting against but I don't see that happening because all over the world today crypto currency has gotten allot of awareness and allot of persons have already keyed in to this . The fact is that the so called regulation of crypto currency is not going to work the highest that a government can do is to band it in that particular country but people will still go and do investment in crypto currencies because crypto currency is decentralized and can't be controlled
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Is there no solution? Is decentralized cryptocurrency really not globally adopted?
I think what makes crypto currency unique and different from another another market is decentralization and that is what actually defines it so any thing that will affect the decentralization of crypto will affect the future of crypto currency and that is what government of many nations which are too blind to see the good side of crypto currency is fighting against but I don't see that happening because all over the world today crypto currency has gotten allot of awareness and allot of persons have already keyed in to this . The fact is that the so called regulation of crypto currency is not going to work the highest that a government can do is to band it in that particular country but people will still go and do investment in crypto currencies because crypto currency is decentralized and can't be controlled
Decentralization is the advantage of crypto currency, where no one can control it. This is what makes governments in some countries hesitate to not allow crypto. But in my opinion no one can reject technological progress, because even though it is prohibited I think its citizens still use and own it. The government should support it and give an appeal to its citizens not to misuse this technology.
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Like in every place and with every person that surrounds the control of a specific place, like governments, there would be antagonists who wouldn’t support anything in the future that they think is not beneficial for them. However, for those countries that see it as a potential way to improve their economy, I think it would be a good approach with regulation.
I think it can be done as long as there are set rules and agreements.
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We know that the government's principle of managing this spatial plan is a bit contrary to the decentralization principle of cryptocurrency... some of us have little hope for mass adoption of cryptocurrency, while we also realize that the concept of cryptocurrency is very much contrary to what the government expects...
Is there no solution? Is decentralized cryptocurrency really not globally adopted?
At this stage, I'm not sure if people really do still care about decentralization. Centralized exchanges came into the crypto party and everyone don't trust the system but it seems they have won the hearts and now it's global for daily use, if they should combine the total number of decentralized exchanges in crypto, I'm not sure they can sum up to Binance and Coinbase volume of traded coins.
The fact the government want to adopt crypto, it will come with a regulatory frame work, the government wouldn't associate itself with something they know it can affect them. If government want crypto for certain, then we should be ready for regulations but decentralization can still exist in the network.
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We know that the government's principle of managing this spatial plan is a bit contrary to the decentralization principle of cryptocurrency... some of us have little hope for mass adoption of cryptocurrency, while we also realize that the concept of cryptocurrency is very much contrary to what the government expects...
Is there no solution? Is decentralized cryptocurrency really not globally adopted?
At this stage, I'm not sure if people really do still care about decentralization. Centralized exchanges came into the crypto party and everyone don't trust the system but it seems they have won the hearts and now it's global for daily use, if they should combine the total number of decentralized exchanges in crypto, I'm not sure they can sum up to Binance and Coinbase volume of traded coins.
The fact the government want to adopt crypto, it will come with a regulatory frame work, the government wouldn't associate itself with something they know it can affect them. If government want crypto for certain, then we should be ready for regulations but decentralization can still exist in the network.
For some reason, decentralisation is a concept that should be in the centre of the crypto world, but sometimes, it simply isn’t. Indeed, centralized exchanges provide convenience, velocity, and inclusiveness for users which creates a lot of attraction. But it does not mean that potential of decentralized systems should be overlooked. We can stimulate the invention processes to enhance the applicability and competitiveness of decentralised solutions in the financial market, for instance by improving the security, effectiveness and comfort of transactions carried out through decentralised protocols.
When regulation is made as an integral part it is also a prospect for expansion together with the essence of crypto. It is important that we as a community are prepared to continue to work with other parties while not losing sight of decentralisation. Building a separate network, but the ability of which will allow to react to regulations is the step that will contribute to the creation of balance between technology development and compliance. It is important that decentralisation has not lost its place in a rapidly expanding ecosystem.
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Many people worldwide now know about and use cryptocurrency so it is here to stay. Trying to regulate cryptocurrency might just push it underground making it harder to track. But decentralization means people can still access and invest in cryptocurrency from anywhere. Instead of fighting it governments should find balance between protecting users and allowing innovation. This way they can create rules that help cryptocurrency grow safely. Future of cryptocurrency depends on finding this balance between freedom and responsible oversight.
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This is because we are used to have rules and we agree to some rules that makes things centralised to a point. But if there is no regulations and nothing can stop a transaction or freeze an account.
CEX does have the power to block and hold the funds if they see these coins are acquired suspiciously. This makes the crypto curr ncy centralised even when th Blockchain is decentralize.
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I think not the crypto itself but exchanges are being regulated since it was the only thing that freezes our funds when they see something suspicious with our transactions. I've seen this thing a downside if we are gonna store our funds on centralized exchanges because anytime they can do things we don't like. That is why I still prefer non-custodial wallets so I can still utilize decentralization without any problem.
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I think not the crypto itself but exchanges are being regulated since it was the only thing that freezes our funds when they see something suspicious with our transactions. I've seen this thing a downside if we are gonna store our funds on centralized exchanges because anytime they can do things we don't like. That is why I still prefer non-custodial wallets so I can still utilize decentralization without any problem.
If we do fair transactions, I don't think we need to think too much about it. We don't need to be afraid that our assets will be frozen on the exchange. I also store assets on the exchange to trade and until today it is still safe. While my main assets, I store in a custodian wallet because I think that is the safest thing to do.
the government can only control their local exchanges, but on global exchanges they must have permission and have cooperation with the authorities.
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This is because we are used to have rules and we agree to some rules that makes things centralised to a point. But if there is no regulations and nothing can stop a transaction or freeze an account.
CEX does have the power to block and hold the funds if they see these coins are acquired suspiciously. This makes the crypto curr ncy centralised even when th Blockchain is decentralize.
Cryptocurrency started with Bitcoin and the man who created and introduced Bitcoin Satoshi Nakamoto was trying to solve the problem of decentralization but instead of following his footsteps and teachings about decentralization, most users of cryptocurrency today now prefer using CEX in their transactions thereby minimizing the idea behind the innovation of cryptocurrency. Cryptocurrency wasn't made to be regulated by a third party and for you to do that globally, decentralization will surely be sacrificed
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We know that the government's principle of managing this spatial plan is a bit contrary to the decentralization principle of cryptocurrency... some of us have little hope for mass adoption of cryptocurrency, while we also realize that the concept of cryptocurrency is very much contrary to what the government expects...
Is there no solution? Is decentralized cryptocurrency really not globally adopted?
Let the water flow as it is because the water from the mountain goes down to the estuary, that's what I hope for.
Let crypto become decentralized so that there is no third party interference that can cause losses.
I agree more with decentralized crypto because I can secure my own assets with my own security. I don't want my assets to be known by other people or third parties. My assets are mine and your assets are yours.
I have this principle because sometimes the government is not fair to the policies created by the government for its people, especially when it comes to crypto, which is certain that one day a worthless coin can also become very valuable, like Bitcoin.
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We know that the government's principle of managing this spatial plan is a bit contrary to the decentralization principle of cryptocurrency... some of us have little hope for mass adoption of cryptocurrency, while we also realize that the concept of cryptocurrency is very much contrary to what the government expects...
Is there no solution? Is decentralized cryptocurrency really not globally adopted?
Government just wants to protect themselves. It's very simple to understand and that's why they fight so much against decentralization. To me, the main reason why some people are actually adopting cryptocurrency it's because of the idea about decentralization. People wants something that gives them control over their money. Who wants a system where the government has a say over them? But then, we all know that it's not going to go down easy. The government won't want to accept anything that they can't control. This is why decentralization is still drawing behind.
Exactly mate, most likely, citizens of a country wants the power of having authority especially over their funds. When it comes to Bank institutions regulated by the government in my country, you have the limit of withdrawing your own money in a particular day.....
Why will people not urge for a decentralized finance, when you have power over your portfolio and you make your decisions on how you want to make use of them without any fee of storage in a wallet.
But in the other hand when converting the Cryptocurrency to Fiat, the government is still there to regulate the funds when it creeps into your Bank Account.
It is clear that the government generate revenue from bank institutions thats among the reason of them kicking against the decentralized system because they can't impose any task/charges since it isn't owned by a singular person or group of people.
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Many people worldwide now know about and use cryptocurrency so it is here to stay. Trying to regulate cryptocurrency might just push it underground making it harder to track. But decentralization means people can still access and invest in cryptocurrency from anywhere. Instead of fighting it governments should find balance between protecting users and allowing innovation. This way they can create rules that help cryptocurrency grow safely. Future of cryptocurrency depends on finding this balance between freedom and responsible oversight.
Nah, I do not think it will be like that, we have been in the market for more than 10 years now and we have seen that the government can't regulate it. They just want to protect those so called investors because crypto world is just like wild wild west.
But still up to the investors on how they will regulate or mitigate the risk. There are informed investors who knows that game already and so even if there are rules and regulations, they know how to move within boundaries and not get scam or something losing their investments.
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Nah, I do not think it will be like that, we have been in the market for more than 10 years now and we have seen that the government can't regulate it. They just want to protect those so called investors because crypto world is just like wild wild west.
But still up to the investors on how they will regulate or mitigate the risk. There are informed investors who knows that game already and so even if there are rules and regulations, they know how to move within boundaries and not get scam or something losing their investments.
There indeed are peculiarities in the crypto world, which is based on the principles of high levels of self-organisation and freedom for the market participants. While governments continue to impose reforms to regulate blockchain technology fully, the underlying architecture of this technology poses a great challenge to those who seek to regulate it. Those that do exist are, as a rule, designed to protect investors, however, the largest burden still always remains on the majority and ourselves, market participants, to act wisely.
For those who have been in this ecosystem for a long time, it is the knowledge of how the market functions and potential risks become the key way to thrive. Law can introduce certain safeguards, but genuine understanding, and practical knowledge, is invaluable here. If one remains conscious to these perspicacities and active to the process of continuous learning, every move made is grounded firmly on a sure defensive, as well as an offence for asset and opportunity.
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We know that the government's principle of managing this spatial plan is a bit contrary to the decentralization principle of cryptocurrency... some of us have little hope for mass adoption of cryptocurrency, while we also realize that the concept of cryptocurrency is very much contrary to what the government expects...
Is there no solution? Is decentralized cryptocurrency really not globally adopted?
BTC is decentralized and it is adopted globally only in like 27 to 40 countries it's not allowed and the numbers are decreasing day by day. Like recently I heard the news that Morocco has lifted the ban which they imposed on 2017 from crypto. Which is a good thing, Russia is now full into BTC, USA is full into BTC and many other big countries are adopting BTC.
Point is they can only introduce more centralized platforms for these decentralized platform's problems like in the name of solving them, for examples all the L2 of BTC are not decentralized, but most of them are centralizde.
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We know that the government's principle of managing this spatial plan is a bit contrary to the decentralization principle of cryptocurrency... some of us have little hope for mass adoption of cryptocurrency, while we also realize that the concept of cryptocurrency is very much contrary to what the government expects...
Is there no solution? Is decentralized cryptocurrency really not globally adopted?
BTC is decentralized and it is adopted globally only in like 27 to 40 countries it's not allowed and the numbers are decreasing day by day. Like recently I heard the news that Morocco has lifted the ban which they imposed on 2017 from crypto. Which is a good thing, Russia is now full into BTC, USA is full into BTC and many other big countries are adopting BTC.
Point is they can only introduce more centralized platforms for these decentralized platform's problems like in the name of solving them, for examples all the L2 of BTC are not decentralized, but most of them are centralizde.
they also introduce detaining CEOs of a project just like what happen to telegram CEO. they are also introducing BTC miners turning into a public company which can now be controlled by the board members. these sort of control can make crypto centralized regardless of how we see the project to be decentralized but if physically the CEOs can just be held at gun point, its not so different to what Diddy is doing to his victims.
regulators scrambles when projects become popular and they have no control over it. they'd have to get the man or there will be no bull run. ;D how many of those CEOs been held in the airport already?
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I think not the crypto itself but exchanges are being regulated since it was the only thing that freezes our funds when they see something suspicious with our transactions. I've seen this thing a downside if we are gonna store our funds on centralized exchanges because anytime they can do things we don't like. That is why I still prefer non-custodial wallets so I can still utilize decentralization without any problem.
Indeed, if crypto as a whole, it will be impossible to do because they are mostly decentralized. While the government globally cannot regulate 1 by 1, what they can do is tighten crypto regulations in their respective countries, so that crypto activists remain subject to and under their regulations. although of course it will not be possible to do it 100%.
Indeed, if for local exchanges in the country, there will be special regulations in each country that require exchanges to be under government regulations, although not all countries. because of that, every transaction and also several other things are also related to the regulations in that country, including tax collection policies, as well as several things related to data transactions that may be much more vulnerable to being known by the government. Because of that, in fact, more and more crypto activists prefer global exchanges as an option when carrying out trading activities or other activities rather than local exchanges.
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they also introduce detaining CEOs of a project just like what happen to telegram CEO. they are also introducing BTC miners turning into a public company which can now be controlled by the board members. these sort of control can make crypto centralized regardless of how we see the project to be decentralized but if physically the CEOs can just be held at gun point, its not so different to what Diddy is doing to his victims.
regulators scrambles when projects become popular and they have no control over it. they'd have to get the man or there will be no bull run. ;D how many of those CEOs been held in the airport already?
Freedom of speech has been taken from the people, like in my country there was a big protest from the public and government took some serious actions many killed, but they showed no one killed in this and they also put a chinese software firewall on internet that no one is able to send videos and pictures on WhatsApp alone.
They are monitoring Whatsapp and in future they will be forcing many other apps to be firewalled so they could control what type of media is being shared. I don't know from where they are getting this idea I mean putting a firewall and risking the data of millions of Citizens. Point is it's not a problem in only one country the whole world is high haha.
And if we come to these projects they will be made more centralized and as a matter of fact, maybe in future the centralized ones will be given funds alone by investors.
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they also introduce detaining CEOs of a project just like what happen to telegram CEO. they are also introducing BTC miners turning into a public company which can now be controlled by the board members. these sort of control can make crypto centralized regardless of how we see the project to be decentralized but if physically the CEOs can just be held at gun point, its not so different to what Diddy is doing to his victims.
regulators scrambles when projects become popular and they have no control over it. they'd have to get the man or there will be no bull run. ;D how many of those CEOs been held in the airport already?
What happned to telegram ceo was bad as he did not deserve that on the other hand it was his mistake as well to go in a country where he knew he could get detained I mean who do that, it was a big mistake from his side well at last he has to go thorugh this phase and as of know he made deals with the authorites and he also changed the policies of Telegarm.
So maybe in near future he will be free from all charges from only France because they will use him for their own purpose and torture him as well. Now speaking of centralized world and the products being developed for users can totally flop if all the decentralized lover boycott them I mean why using them if you have other ways.
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We know that the government's principle of managing this spatial plan is a bit contrary to the decentralization principle of cryptocurrency... some of us have little hope for mass adoption of cryptocurrency, while we also realize that the concept of cryptocurrency is very much contrary to what the government expects...
Is there no solution? Is decentralized cryptocurrency really not globally adopted?
It is very much possible to regulate crypto, and cryptos still maintain this level of decentralization in terms of blockchains aspect of it, like sending and receiving crypto, and also buying and selling crypto through decentralized exchanges can still be upheld even while adoption and regulations happens.
But the issue is that, we have crooked government officials almost in every country of the world who wants nothing but to have control over every damn thing.
This I believe is one area Trump promised to look into as a president of the united states, he said he will make sure that the non-custody and monetary freedom that Bitcoin represents and promotes will be upheld.
If the man will keep this promise, then I guess we as crypto enthusiasts have nothing to worry about over the mass adoption of crypto that is already happening.
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We know that the government's principle of managing this spatial plan is a bit contrary to the decentralization principle of cryptocurrency... some of us have little hope for mass adoption of cryptocurrency, while we also realize that the concept of cryptocurrency is very much contrary to what the government expects...
Is there no solution? Is decentralized cryptocurrency really not globally adopted?
Regulated means something like under the governance and it about also something like the controlling. But what I think is that it is not possible to control the decentralized ecosystem in Cryptocurrency. But we all know that cryptocurrency is a block chain technology and everything in the block chain is open to everyone. So even if you can't control anyone here, it is definitely possible to trace using appropriate resources.
And I think this is the only way, which is why most countries are currently legalizing cryptocurrency and various countries are removing their illegal status.
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Maybe what I think may not be what others think from my own perspective since crypto is not just for some numbers of people but for all there is no way it can be regulated globally without decentralization. The low budget people really need this decentralization so as not to be left out. If in anyway it is regulated without decentralization means it is now the affairs of only those who have upper hands but since everyone is allowed to take part there must be decentralization. That's what I think.
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We know that the government's principle of managing this spatial plan is a bit contrary to the decentralization principle of cryptocurrency... some of us have little hope for mass adoption of cryptocurrency, while we also realize that the concept of cryptocurrency is very much contrary to what the government expects...
Is there no solution? Is decentralized cryptocurrency really not globally adopted?
Regulated means something like under the governance and it about also something like the controlling. But what I think is that it is not possible to control the decentralized ecosystem in Cryptocurrency. But we all know that cryptocurrency is a block chain technology and everything in the block chain is open to everyone. So even if you can't control anyone here, it is definitely possible to trace using appropriate resources.
And I think this is the only way, which is why most countries are currently legalizing cryptocurrency and various countries are removing their illegal status.
no one can control the decentralise system of crypto, but the state can regulate it in local exchanges because the government can ask for personal ID from investors who exchange their crypto to FIAT.
so this is also a good regulation to reduce the misuse of crypto.
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no one can control the decentralise system of crypto, but the state can regulate it in local exchanges because the government can ask for personal ID from investors who exchange their crypto to FIAT.
so this is also a good regulation to reduce the misuse of crypto.
I am also saying the same thing.But if we just look at the blockchain technology it is open for all and that is the reason if a doing illegal things and by tracing the blockchain transactions the government can find his digital fingerprint and that is how crypto can be regulated globally without sacrificing the decentralization.
After all if government create local exchanges I mean the centralized exchanger then how will we get the decentralized ecosystem?
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no one can control the decentralise system of crypto, but the state can regulate it in local exchanges because the government can ask for personal ID from investors who exchange their crypto to FIAT.
so this is also a good regulation to reduce the misuse of crypto.
Indirectly, it removes the privacy that is the nature of Bitcoin which is also related to being decentralized... the government managed to get the identity information of the BTC owner and the data will start to be tracked from that... maybe for transactions in the form of BTC before the balance is deposited to the local exchange, privacy can still be maintained... but it could be forced to be tracked by the government if there are certain indications....
Local exchanges and KYC are one form that the government can no longer accept Bitcoin as a decentralized asset.. it is like a filtering tool for government interests.
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We know that the government's principle of managing this spatial plan is a bit contrary to the decentralization principle of cryptocurrency... some of us have little hope for mass adoption of cryptocurrency, while we also realize that the concept of cryptocurrency is very much contrary to what the government expects...
Is there no solution? Is decentralized cryptocurrency really not globally adopted?
Regulated means something like under the governance and it about also something like the controlling. But what I think is that it is not possible to control the decentralized ecosystem in Cryptocurrency. But we all know that cryptocurrency is a block chain technology and everything in the block chain is open to everyone. So even if you can't control anyone here, it is definitely possible to trace using appropriate resources.
And I think this is the only way, which is why most countries are currently legalizing cryptocurrency and various countries are removing their illegal status.
no one can control the decentralise system of crypto, but the state can regulate it in local exchanges because the government can ask for personal ID from investors who exchange their crypto to FIAT.
so this is also a good regulation to reduce the misuse of crypto.
Decentralised crypto systems give a lot of liberty to its users, but liberty with responsibilities also works in the same manner. Such rules as identification when exchanging Crypto for FIAT will go a long way in eradicating abuse without restricting the openness that this technology provides. That being said, relying on decentralised cryptocurrency nodes would allow people to benefit from the cryptocurrency asset while multiple parties were working on making the Web and transactions more transparent and secure. This situation implies that clearly defined regulations on local exchanges will also improve the general perception of crypto and ultimately lead to its use. If we promote the balanced approach to the protection measures we can protect this ecosystem for all users.
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Decentralised crypto systems give a lot of liberty to its users, but liberty with responsibilities also works in the same manner. Such rules as identification when exchanging Crypto for FIAT will go a long way in eradicating abuse without restricting the openness that this technology provides. That being said, relying on decentralised cryptocurrency nodes would allow people to benefit from the cryptocurrency asset while multiple parties were working on making the Web and transactions more transparent and secure. This situation implies that clearly defined regulations on local exchanges will also improve the general perception of crypto and ultimately lead to its use. If we promote the balanced approach to the protection measures we can protect this ecosystem for all users.
You are right, I tried to explain these things in my previous post. If we see that currently, if we talk about money laundering, then most of the money laundering is done in fiat currency and in this case it is never completely decentralized, even if there is money laundering here, then there is crypto space and money laundering. So I don't think that money laundering can be stopped by centralizing it. But I think that if the government or the authorities take some important steps, then crypto currency can be regulated globally without centralizing it.
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Decentralised crypto systems give a lot of liberty to its users, but liberty with responsibilities also works in the same manner. Such rules as identification when exchanging Crypto for FIAT will go a long way in eradicating abuse without restricting the openness that this technology provides. That being said, relying on decentralised cryptocurrency nodes would allow people to benefit from the cryptocurrency asset while multiple parties were working on making the Web and transactions more transparent and secure. This situation implies that clearly defined regulations on local exchanges will also improve the general perception of crypto and ultimately lead to its use. If we promote the balanced approach to the protection measures we can protect this ecosystem for all users.
You are right, I tried to explain these things in my previous post. If we see that currently, if we talk about money laundering, then most of the money laundering is done in fiat currency and in this case it is never completely decentralized, even if there is money laundering here, then there is crypto space and money laundering. So I don't think that money laundering can be stopped by centralizing it. But I think that if the government or the authorities take some important steps, then crypto currency can be regulated globally without centralizing it.
since fiat will not disappear but exist side by side with crypto then laundering is still going to keep running.
when NFTs were just new, same stories we hear when rich men launderers their blood money. more NFTs i think will still be used for laundering even the most obvious taped banana was taken lightly by authorities.
centralization will not prevent laundering because the fiat will still be around. and i think the stablecoins will still be the same as fiat, they can print these stablecoins for as much as they want.
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You are right, I tried to explain these things in my previous post. If we see that currently, if we talk about money laundering, then most of the money laundering is done in fiat currency and in this case it is never completely decentralized, even if there is money laundering here, then there is crypto space and money laundering. So I don't think that money laundering can be stopped by centralizing it. But I think that if the government or the authorities take some important steps, then crypto currency can be regulated globally without centralizing it.
To overcome the problem of money laundering in the field of cryptocurrency, countries need to work together in a world where people need to have equal regulation freedom in technologies. From this we can conclude that the right step is not the centralization of the system and the introduction of the principles of decentralization, but the creation of a mechanism for monitoring various activities of users and organizations, with the possibility of monitoring suspicious activity, without affecting the principle of decentralization of the system. In traditional systems, fiat currencies are actually usually more difficult to trace than technologies like blockchain in which transactions are actually even easier to track. Cryptocurrencies can actually be regulated if governments and authorities craft just, engagement stakeholders and keys promoting fairness and reciprocity, and avoid obfuscation while promoting transparency. And that is not only about the minimisation of risks, but about the creation of more generalised trust in this technology as a part of future financial environment.
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Decentralised crypto systems give a lot of liberty to its users, but liberty with responsibilities also works in the same manner. Such rules as identification when exchanging Crypto for FIAT will go a long way in eradicating abuse without restricting the openness that this technology provides. That being said, relying on decentralised cryptocurrency nodes would allow people to benefit from the cryptocurrency asset while multiple parties were working on making the Web and transactions more transparent and secure. This situation implies that clearly defined regulations on local exchanges will also improve the general perception of crypto and ultimately lead to its use. If we promote the balanced approach to the protection measures we can protect this ecosystem for all users.
You are right, I tried to explain these things in my previous post. If we see that currently, if we talk about money laundering, then most of the money laundering is done in fiat currency and in this case it is never completely decentralized, even if there is money laundering here, then there is crypto space and money laundering. So I don't think that money laundering can be stopped by centralizing it. But I think that if the government or the authorities take some important steps, then crypto currency can be regulated globally without centralizing it.
In my opinion, money laundering has been done long before bitcoin existed, why is there a fear of the decentralization of the system being misused for money laundering because we know that this is future technology and the government should be able to accept it. It does not mean that if it is made centralized, money laundering will not exist.
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In my opinion, money laundering has been done long before bitcoin existed, why is there a fear of the decentralization of the system being misused for money laundering because we know that this is future technology and the government should be able to accept it. It does not mean that if it is made centralized, money laundering will not exist.
Till now, there are many numbers of money laundering cases of cash reported by banks to law enforcement and they are been treated everyday as ne case. Bitcoin just happens to be the easiest way for people to launder money, this is why many countries has force centralized exchanges to kyc all their customers account so they can monitor incoming and outgoing transactions.
I'm not sure if we are going to have Bitcoin decentralization affected the way it's right now, right now it doesn't look we are really that decentralized, government regulating it will just makes bad guys move away from Bitcoin.
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In my opinion, money laundering has been done long before bitcoin existed, why is there a fear of the decentralization of the system being misused for money laundering because we know that this is future technology and the government should be able to accept it. It does not mean that if it is made centralized, money laundering will not exist.
That is what I also said in my previous post that we can't blame on the bitcoin or the cryptocurrency for the money laundering. The problem is on the human nature they will do everywhere these kind of crime because like the good people are exist in world there the bad people were also exist in the world.
We have to catch those people and make them prevent from doing crime for the next time. Not like that Banning the whole system.
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Have you guys watch Tucker Carlson interview with Roger Ver?
Roger Ver claimed that Bitcoin was high jacked and it was turned into a finance system to trap people who are trying to pay or make transactions anonymously. But of course people know this already . BTC is not anonymous because its been centralised already where your wallet or transaction can be flagged.
With what Roger said, the decentralisation I think was already sacrificed all for adoption.
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We know that the government's principle of managing this spatial plan is a bit contrary to the decentralization principle of cryptocurrency... some of us have little hope for mass adoption of cryptocurrency, while we also realize that the concept of cryptocurrency is very much contrary to what the government expects...
Is there no solution? Is decentralized cryptocurrency really not globally adopted?
It is being said that two parallel lines can never meet, except there is a shift in any of the two and that is one thing that will be asked of. Will the crypto currency industry which deals on a decentralized system make adjustments for the government which is looking for regulations to be used on the crypto community?
The shift can only be if there is another body that will come to be in-between these two as a middle man. I came across MiCA, and PrivateKayla already spoke about it. If this body gains it's stand to gap the space between these two systems, there will be a smooth running of the two in the EU region and that will create room for other continents / countries to adapt to the new developments.
MiCA which was approved by the EU Parliament as at April 20, 2023, and it is been said that it will be fully implemented maybe before the end of December 2024, with an 18-month transitional phase to facilitate a smooth transition to the new regulations. If this smoothly runs, other countries will work on it and adopt it.
This might take time which is the only factor of delay to aid smooth running for the betterment of the two bodies to go round the world.
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In my opinion, money laundering has been done long before bitcoin existed, why is there a fear of the decentralization of the system being misused for money laundering because we know that this is future technology and the government should be able to accept it. It does not mean that if it is made centralized, money laundering will not exist.
That is what I also said in my previous post that we can't blame on the bitcoin or the cryptocurrency for the money laundering. The problem is on the human nature they will do everywhere these kind of crime because like the good people are exist in world there the bad people were also exist in the world.
We have to catch those people and make them prevent from doing crime for the next time. Not like that Banning the whole system.
Yes, that is only used as an excuse by people who really don't like Bitcoin, saying that Bitcoin is something that really supports crime. because it is used as money laundering, terrorist funding and so on. even though long before Bitcoin existed, money laundering, corruption, terrorism, colonialism and so on already existed and it didn't depend on what was used, but on the people. Yes, because of human nature and also various other political interests. but yes, as long as you don't like Bitcoin, you will spread bad news about Bitcoin, whatever it is. And this is what makes people's view of Bitcoin bad. but fortunately the more we come here, the more media are also reporting good things about Bitcoin. And this also affects the mindset of people globally. Yes, although not all of it, at least with various good news from Bitcoin and also various up to date information, especially support from top people in the world, more and more people are recognizing that Bitcoin is indeed valuable. and whether it is dangerous or not depends on the person himself.
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That is what I also said in my previous post that we can't blame on the bitcoin or the cryptocurrency for the money laundering. The problem is on the human nature they will do everywhere these kind of crime because like the good people are exist in world there the bad people were also exist in the world.
We have to catch those people and make them prevent from doing crime for the next time. Not like that Banning the whole system.
Relating crime to the use of the technology is not a good or efficient idea. To this effect, only those cryptocurrencies are problematic that are abused as tools as cash or other systems of finance are. That is wrong for the simple reason that it is not the system that has failed, but the people who have taken advantage of the system. Instead of completely eliminating the whole environment, the government ought to enhance supervision and fairness in the regulation of the environment and step up enlightening the people regarding the use of the environment. In that manner, it is possible to avoid scandals and excesses, but at the same time, encourage the development of intelligent and positively influencing on the global scale blockchain and cryptoassets technology.
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Maybe what I think may not be what others think from my own perspective since crypto is not just for some numbers of people but for all there is no way it can be regulated globally without decentralization. The low budget people really need this decentralization so as not to be left out. If in anyway it is regulated without decentralization means it is now the affairs of only those who have upper hands but since everyone is allowed to take part there must be decentralization. That's what I think.
Isn't it precisely the decentralized nature of cryptocurrency that makes it difficult to regulate globally??? governments still control the world today, and it is impossible for something that has no owner to be powerful, right?? we all see the existence of something based on what is behind it... and if bitcoin remains decentralized, it is likely that its existence is underestimated because there is no symbol of power there... (correct me if I am wrong)
ETF makes it more widely adopted, but it makes it more centralized... one of the proofs of the power of institutions in sponsoring a technology, including Bitcoin itself.
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governments still control the world today, and it is impossible for something that has no owner to be powerful, right?? we all see the existence of something based on what is behind it... and if bitcoin remains decentralized, it is likely that its existence is underestimated because there is no symbol of power there... (correct me if I am wrong)
no it is not impossible and bitcoin is the very proof of that unless the government ban or restrict bitcoin it can and have been powerful among the people its decentralized nature just allows the people to have total control of their money and use it independently there is no need for anyone to control or manage the entire bitcoin network when its users are all over the world making it valuable and in demand
ETF makes it more widely adopted, but it makes it more centralized... one of the proofs of the power of institutions in sponsoring a technology, including Bitcoin itself.
it only allows for even wider adoption but even before eth bitcoin was already well known and used all over the world
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Relating crime to the use of the technology is not a good or efficient idea. To this effect, only those cryptocurrencies are problematic that are abused as tools as cash or other systems of finance are. That is wrong for the simple reason that it is not the system that has failed, but the people who have taken advantage of the system. Instead of completely eliminating the whole environment, the government ought to enhance supervision and fairness in the regulation of the environment and step up enlightening the people regarding the use of the environment. In that manner, it is possible to avoid scandals and excesses, but at the same time, encourage the development of intelligent and positively influencing on the global scale blockchain and cryptoassets technology.
If we just look around of us then we will find the bad people were everywhere in every sector. So this is not only the crypto where and what is used for completing crime like money laundering, terrorist organization funding etc.
As we also know that is still all the money laundering were happening by the Fiat currency and that's why I say that we cannot blame on crypto for that. And as well if the government has the will then they can use crypto currency without sacrificing decentralization and increasing government resources.
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If we just look around of us then we will find the bad people were everywhere in every sector. So this is not only the crypto where and what is used for completing crime like money laundering, terrorist organization funding etc.
As we also know that is still all the money laundering were happening by the Fiat currency and that's why I say that we cannot blame on crypto for that. And as well if the government has the will then they can use crypto currency without sacrificing decentralization and increasing government resources.
Rather than crimes in crypto, crimes in the traditional fiat currency sector could wipe out their tracks because all their records would be lost.
But if money laundering is done in crypto, it can still be traced because everything is also recorded on the blockchain even though it uses several methods such as using the Mixer platform.
And the government that continues to uphold crypto decentralization is certainly aware that crypto should be so, but if they want centralization then it is an option and of course the government also wants to have control over crypto.
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If we just look around of us then we will find the bad people were everywhere in every sector. So this is not only the crypto where and what is used for completing crime like money laundering, terrorist organization funding etc.
As we also know that is still all the money laundering were happening by the Fiat currency and that's why I say that we cannot blame on crypto for that. And as well if the government has the will then they can use crypto currency without sacrificing decentralization and increasing government resources.
Rather than crimes in crypto, crimes in the traditional fiat currency sector could wipe out their tracks because all their records would be lost.
But if money laundering is done in crypto, it can still be traced because everything is also recorded on the blockchain even though it uses several methods such as using the Mixer platform.
And the government that continues to uphold crypto decentralization is certainly aware that crypto should be so, but if they want centralization then it is an option and of course the government also wants to have control over crypto.
I agree with you, the crimes committed at the transaction crypto can be traced because of all territorian transactions. Hamya Personal ID from the Users who have been tracked if they use the global exchange.
Deccentralization of the system is a technology of the future, so the government must accept because no one can reject the technology progress.
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I agree with you, the crimes committed at the transaction crypto can be traced because of all territorian transactions. Hamya Personal ID from the Users who have been tracked if they use the global exchange.
Deccentralization of the system is a technology of the future, so the government must accept because no one can reject the technology progress.
Indeed, transactions being carried out using digital currencies are qualitatively distinguished by certain high levels of transparency and constant recording so that whenever they are in violation of the law, the record shall show it systematically. If well monitored, this system has great potential to enhance security of global transactions. While technology is undergoing revolutionary changes, it presents the prospect to fully leverage this decentralised computing technology. It’s existence gives the government a chance to enact unique policies that will foster the development of a liberal economy that is associated with the formation of the digital economy without compromising on security issues. Recognition of such progress will be on a step that will take the community near to the improved financial system of acceptance for the majority.
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Rather than crimes in crypto, crimes in the traditional fiat currency sector could wipe out their tracks because all their records would be lost.
But if money laundering is done in crypto, it can still be traced because everything is also recorded on the blockchain even though it uses several methods such as using the Mixer platform.
Yeap this a good point may be I also mentioned in my previous posts.
Like in the banking Sectors we can see a person bank details because of privacy policy of the banks. But here we can trace a wallet address in block on live. Even then we might have sometime difficulty for the usages of gambling platform or the mixers but still there can be possible to trace up them but there will be need just more resource to trace.
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I agree with you, the crimes committed at the transaction crypto can be traced because of all territorian transactions. Hamya Personal ID from the Users who have been tracked if they use the global exchange.
Deccentralization of the system is a technology of the future, so the government must accept because no one can reject the technology progress.
In the end, all transactions can be known because they are still recorded on the blockchain and where the funds are sent.
Even though using the Mixer platform, it can still be tracked easily when the government has the authority to see directly the transactions made by the mixer.
The government certainly only wants to have control of this technology so that nothing will go unnoticed by them.
The government has finally made a regulation that will regulate crypto and how crypto is used.
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I agree with you, the crimes committed at the transaction crypto can be traced because of all territorian transactions. Hamya Personal ID from the Users who have been tracked if they use the global exchange.
Deccentralization of the system is a technology of the future, so the government must accept because no one can reject the technology progress.
In the end, all transactions can be known because they are still recorded on the blockchain and where the funds are sent.
Even though using the Mixer platform, it can still be tracked easily when the government has the authority to see directly the transactions made by the mixer.
The government certainly only wants to have control of this technology so that nothing will go unnoticed by them.
The government has finally made a regulation that will regulate crypto and how crypto is used.
That's the government only thinking about their own profits without thinking about the welfare of their people, they always want to control the wealth of their people, without providing feedback to their people, regulation is the final stage of all if the regulation is passed then there will be no limits and confidentiality for crypto
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That's the government only thinking about their own profits without thinking about the welfare of their people, they always want to control the wealth of their people, without providing feedback to their people, regulation is the final stage of all if the regulation is passed then there will be no limits and confidentiality for crypto
Well it's not much of a new thing that the government always wants to be in control. Besides they are the government so that's literally what you would expect of them. Anyways the concept of decentralisation is something that wouldn't play out well with the government. Besides the government is majorly in support of Centralised bodies that can be made to work under set down rules and regulations.
I think one reason why bitcoin is something the government can't fight much against it is because of its general status in the crypto market compared to Monero that is literally currently off all.CEX.
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That's the government only thinking about their own profits without thinking about the welfare of their people, they always want to control the wealth of their people, without providing feedback to their people, regulation is the final stage of all if the regulation is passed then there will be no limits and confidentiality for crypto
Well it's not much of a new thing that the government always wants to be in control. Besides they are the government so that's literally what you would expect of them. Anyways the concept of decentralisation is something that wouldn't play out well with the government. Besides the government is majorly in support of Centralised bodies that can be made to work under set down rules and regulations.
I think one reason why bitcoin is something the government can't fight much against it is because of its general status in the crypto market compared to Monero that is literally currently off all.CEX.
The government of a country that previously rejected bitcoin is now accepting it because as you said, the government cannot fight bitcoin and I think bitcoin is getting more popular and owned by many investors and citizens so the government must accept bitcoin because if they are not active in crypto they will be left behind by other countries that are starting to accept bitcoin as an investment and payment.
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The legal status of cryptocurrencies varies significantly from jurisdiction to jurisdiction and is still undefined or changing in many cases. Moreover, crypto is still not legalized in many countries and there are several reasons for this, the main reason being that the political influencers are not united. Last year the government in my country researched crypto how to legitimize it but the current government doesn't want to think about it. Although the use of cryptocurrency is not illegal in most countries, its status and usability as a means of payment or as a commodity is processed with various regulatory implications. While some states expressly allow its use and trade, others prohibit or restrict it.
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Maybe what I think may not be what others think from my own perspective since crypto is not just for some numbers of people but for all there is no way it can be regulated globally without decentralization. The low budget people really need this decentralization so as not to be left out. If in anyway it is regulated without decentralization means it is now the affairs of only those who have upper hands but since everyone is allowed to take part there must be decentralization. That's what I think.
Isn't it precisely the decentralized nature of cryptocurrency that makes it difficult to regulate globally??? governments still control the world today, and it is impossible for something that has no owner to be powerful, right?? we all see the existence of something based on what is behind it... and if bitcoin remains decentralized, it is likely that its existence is underestimated because there is no symbol of power there... (correct me if I am wrong)
ETF makes it more widely adopted, but it makes it more centralized... one of the proofs of the power of institutions in sponsoring a technology, including Bitcoin itself.
I think that you could be explain a best opinion in your comment. In this time it will be a very prefer opinion for us. Crypto regulated globally without sacrificing decentralization will be very difficult fo crypto currency market. Because we know that decentralization is also the best valuable for cryptocurrency market. We also know that government want to control in this situation, so I believe that it's not be easy. So I think that easy way for decentralization in crypto will be perfect for us.
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Maybe what I think may not be what others think from my own perspective since crypto is not just for some numbers of people but for all there is no way it can be regulated globally without decentralization. The low budget people really need this decentralization so as not to be left out. If in anyway it is regulated without decentralization means it is now the affairs of only those who have upper hands but since everyone is allowed to take part there must be decentralization. That's what I think.
Isn't it precisely the decentralized nature of cryptocurrency that makes it difficult to regulate globally??? governments still control the world today, and it is impossible for something that has no owner to be powerful, right?? we all see the existence of something based on what is behind it... and if bitcoin remains decentralized, it is likely that its existence is underestimated because there is no symbol of power there... (correct me if I am wrong)
ETF makes it more widely adopted, but it makes it more centralized... one of the proofs of the power of institutions in sponsoring a technology, including Bitcoin itself.
I think that you could be explain a best opinion in your comment. In this time it will be a very prefer opinion for us. Crypto regulated globally without sacrificing decentralization will be very difficult fo crypto currency market. Because we know that decentralization is also the best valuable for cryptocurrency market. We also know that government want to control in this situation, so I believe that it's not be easy. So I think that easy way for decentralization in crypto will be perfect for us.
This analysis indicates that it is possible to integrate the values of decentralisation into the current global regulation of cryptocurrencies but only through an approach that will combine technological improvement with economic stability. The advent of Crypto has brought a great platform through which society has presented an opportunity to build a better system that entail a need from grateful and accountable user communities with the solution coming up with challenges that need the willingness of policymakers to work as a single unit. All of us bear that responsibility to keep refining how we allow blockchain technology to work without eroding the decentralisation that is at the core of this ecosystem. By having an open and forward-thinking approach to the development of cryptocurrencies we can lay the groundwork for the solid cryptocurrencies other than the currently dominant ones which will be available to everyone.
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If you are a country you can eventually regulate cryptos like XRP, but I don't see any viable option to regulate Bitcoin. I mean to regulate it as much as the Dollar is regulated currently. As a country you can always regulate the spending of the coins, but not how much they are or the block reward...
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If you are a country you can eventually regulate cryptos like XRP, but I don't see any viable option to regulate Bitcoin. I mean to regulate it as much as the Dollar is regulated currently. As a country you can always regulate the spending of the coins, but not how much they are or the block reward...
a country regulating xrp but not bitcoin?
that seems backward to me or am i not understanding this properly? bitcoin seems like an option that is safer for countries because it is a lot less volatile and risky compared to other altcoins it is a lot more popular already than other altcoins making it easier to adopt already because many are quite knowledgeable of it already
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If you are a country you can eventually regulate cryptos like XRP, but I don't see any viable option to regulate Bitcoin. I mean to regulate it as much as the Dollar is regulated currently. As a country you can always regulate the spending of the coins, but not how much they are or the block reward...
The government regulate anything not because of what you think, it's for their own interest and the citizens interest. As long as something exist within the ecosystem of the government, you should consider it regulated if you want to use it to the maximum. Are you not seeing media fighting Bitcoin of been used for money laundering, they try to battle it that's why AML is introduced on centralized exchanges.
As long as Bitcoin is money and money is Bitcoin, the government will not allow it to be utilized to the fullest unless it's allow to be regulated otherwise, this is how we will be allow to use it for now until any further approach.