Cyptocurrency to lose it's meaning!

[teminalibug 309]

Recently there has been crazy regulations of cryptocurrency, these regulation comes with rules that denies cryptocurrency it's true meaning, and as we new the true meaning of crypto coins is privacy and full control.

The following are the major things in regulation movements of crypto recently, that denies crypto it's true meaning.

• The impose of taxes on crypto by Argentina
• KYC imposed by localbitcoin and many others (made faucethub.io to close it's services)
• Creation of none privacy coin, Like Libra

What do you think will happen now?

 

[teminalibug 309]

Just now, SUGI5091 said:

With various regulations due to the increasing number of enthusiasts in crypto currency and all kinds of advances that are developing regarding blockchain technology. The impact of policies finally being issued is the main thing in every country today. There are those who make it easy and some are still not permitted. Yes, all the effects of the fear of the cryptocurrency rampant.

Then we can say that; Satoshi nakamoto creation is a failure, as he always preached Privacy and decentralization. but these regulations stands against those things.

[teminalibug 309]

54 minutes ago, SociallyDifferentAnimal said:

No man is an island. Cryptocurrency has to adapt to realities in the marketplace and not impose itself to the people. There will never be an ideal world where all of our ideas can come true and where there is no need to consider other entities also influencing the whole dynamics of the market.

Doesn't have to, crytpo itself remains privacy, it's this crypto companies that has given up on the privacy thing out of fear of the governments.

[kurt777 839]

Cryptocurrency created to deprive people of anonymity! Although initially attracted by the anonymity. There's nothing you can do about it!

[teminalibug 309]

1 hour ago, kurt777 said:

Cryptocurrency created to deprive people of anonymity! Although initially attracted by the anonymity. There's nothing you can do about it!

It is what Nakamoto stood for, the power to do anything freely without been controlled or monitored, freedom. But all that is fading now.

[teminalibug 309]

2 minutes ago, SociallyDifferentAnimal said:

It is fading now because we live in a world of realities. Unless we kill the government and the people manning the government which can also lead to chaos and anarchy, then we have no choice to make some compromises. In fact, the industry has been dreaming of recognition from the government but recognition comes with a price.  The hard fact is that cryptocurrency could not stand on its own, without a legal framework to stand on I doubt if it can be able to spread to more countries. Just look at Japan as an exampple. 

Honestly i think we have been just fine without the governmental recognition, as a developer and a fan of privacy, i think these companies are just for money not to protect the crypto legacy.

1 minute ago, igglybuff said:

I think that crypto will continue to retain their meaning, a long time ago in Venezuela they took out a cryptocurrency that basically breaks all the crypto meaning schemes, but I say that those currencies will not change anything nor the currency that Facebook is going to take, and that of the KYC of localbitcoin and exchanges is somewhat annoying as well but it is inevitable because the pages are pressed by governments to implement those standards.

I believe all crypto services that wont abide by the rules will be marked illegal and thus incrimination of the owners. This will bring about the establishments of more dark-nets.

[teminalibug 309]

33 minutes ago, Yawar said:

Well there ia another poit too, If bitcoin lose ita security but it's nit possible. Technically, people could try to brute force, but it would take many lifetimes before any real progress was made given today's computing power. People ignoring security isn't the same as keys being brute forced left and right.

I believe for the past 9 years some people have been trying to brute-force the private key of Nakamoto's Bitcoin wallet, but failed. that's proves how secure bitcoin is.

Edited November 11, 2019 by teminalibug

[bentayebsalah 2280]

I don't think this is a big problem and this will not change anything
Cryptocurrencies will continue and such things have already happened in the past years

[teminalibug 309]

1 hour ago, bentayebsalah said:

I don't think this is a big problem and this will not change anything
Cryptocurrencies will continue and such things have already happened in the past years

Of course, it is no problem for the people who does not care about privacy, but for us who does, it is a very big problem and will affect us dearly.

[Neneng B 74]

It so sad that the main characteristics of crypto currencies is easily manipulated and changed. That is the essence of crypto I hope they respect that.

[cuterthing 261]

On 11/11/2019 at 4:07 PM, bentayebsalah said:

I don't think this is a big problem and this will not change anything
Cryptocurrencies will continue and such things have already happened in the past years

Yes these kind of things happen all the time.We should trust in crypto currencies and wait for the best moments.

[Sumayya 493]

Crypto will no more be decentralized since taxes are been paid and which doesn't suppose to be like that in Crypto currency

[teminalibug 309]

On 11/11/2019 at 11:59 AM, kurt777 said:

Cryptocurrency created to deprive people of anonymity! Although initially attracted by the anonymity. There's nothing you can do about it!

The sad part is that, the man (Satoshi Nakamoto) made his coin in the privacy roots. But the people who are supposed to be kin in promoting these roots such as exchange sites they are the one who had fallen into KYC and other privacy unfriendly regulation policies and demands.

Edited November 18, 2019 by teminalibug

[Keith700 1885]

On 11/11/2019 at 3:23 AM, teminalibug said:

Recently there has been crazy regulations of cryptocurrency, these regulation comes with rules that denies cryptocurrency it's true meaning, and as we new the true meaning of crypto coins is privacy and full control.

The following are the major things in regulation movements of crypto recently, that denies crypto it's true meaning.

• The impose of taxes on crypto by Argentina
• KYC imposed by localbitcoin and many others (made faucethub.io to close it's services)
• Creation of none privacy coin, Like Libra

What do you think will happen now?

 

It is part of the new era, mediatic pressure situations so that the control standards do not go out, remember that there is always an evolution on the part of the financial entities which submit to retailers like us, just play with more intelligence to avoid get caught.

[PiroSense 2681]

On 11/11/2019 at 3:23 PM, teminalibug said:

What do you think will happen now?

Privacy and power to the people is a double-edged sword. Give them freedom and watch your cryptocurrency being used mostly in illegal activities. You cannot blame them for imposing stricter rules such as KYC. If you want to hide something, it's understandable that you dislike these.

[teminalibug 309]

4 hours ago, PiroSense said:

Privacy and power to the people is a double-edged sword. Give them freedom and watch your cryptocurrency being used mostly in illegal activities. You cannot blame them for imposing stricter rules such as KYC. If you want to hide something, it's understandable that you dislike these.

Yes I totally hate some regulation policies especially KYC. I just hope some developer finds a way to reduce criminal activities in crypto without the need for regulations.

[teminalibug 309]

14 hours ago, Abdullah10 said:

 

2 Crypto Definition; 3 The Origin of Cryptocurrency; 4 The Story of Bitcoin; 5 What is Blockchain? ..... Traders can make millions and then lose it all.

The origin of bitcoin comes with a purpose a purpose made by Satoshi  Nakamoto, but that purpose can not be served if privacy is lost as privacy was the main purpose,

[Zzoro6110 19]

No one can stop the next flood of cryptocurrencies, which will impose itself on the world and receive attention from the majority

[suzuya 945]

People always find a way to change something. It is sad that the real meaning or goal of cryptocurrency is being changed because of people's greediness or selfishness. The invention of crypto is becoming more non-sense as long as the meaning of crypto is being changed.

[fuer44 1083]

this is still understandable, what I'm waiting for is how crypto can produce products that work in the real world or at least have functions for the real world. if so, crypto will really function.

[littledi059 1010]

I don't think it means loss of meaning. It is juicy becoming officially adopted and where' government there will always be restrictions and regulations. It can't be other way

[teminalibug 309]

24 minutes ago, LuisMex149x said:

The rules that are emerging with respect to cryptocurrencies vary by country, I am angry that Argentina wants this kind of thing in an attempt to centralize cryptocurrencies that are not.

Tye cant actually centralize crypto, no one can, they can only try to centralize the marketplaces of cryptocurrency and that;s where they get to impose taxes.

[Afrizal rahman 2636]

Its that true. if true it will complicate us. about the tax imposed in Argentina, that shouldn't have happened because crypto is tax-free. Hopefully this does not continue and crypto remains as usual.

[duncun007 3577]

On 11/11/2019 at 10:23 AM, teminalibug said:

 

• The impose of taxes on crypto by Argentina
• KYC imposed by localbitcoin and many others (made faucethub.io to close it's services)
• Creation of none privacy coin, Like Libra

What do you think will happen now?

 

the reasons you just mentioned as points for why crypto is losing its meaning isnt actually the fault of crypto but rather the fault of institutions that try to the essence of crypto and throw it away and implement new things to it and eliminate privacy along the way.

[teminalibug 309]

1 hour ago, LuisMex149x said:

And that would not be centralized?
maybe not in the way we know, but they could start changing them from that point and then I would find what cryptocurrencies are doing at the moment (most).

Centralization is exactly what is happening right now, it does not affect the all the coins directly, but indirectly yes though these blockchain companies.