Cyptocurrency to lose it's meaning!

[deepown 0]

23 hours ago, halloweed said:

I can say half of the investors are hiding away and the other half is investing largely because they believe, that is why the market is still not showing either the uptrend or downtrend.

There is always something like that in the crypto market and that is how some lose while others gain, you can't all gain at the same time.

[teminalibug 309]

On 4/22/2020 at 1:46 PM, Lover840 said:

These are some things that are quite opposite of crypto currency. Crypto means decentralized but KYC system has ruined it badly. You can't do everything anonymously now just like before this KYC verification everywhere. 

Not everywhere in such, most people verify KYC because of airdrops and giveaways, they sell their own data and most of those airdrops does not pay them anyway.

On 4/22/2020 at 12:22 PM, jekichchan said:

Criminal actions cannot be reduced without KYC. KYC allows you to control scammers and money laundering through cryptocurrency. This is a bad thing for us, we fall under the control of cryptocurrencies and fall under control and surveillance. I will only be glad if they reduce crime without KYC.

But they can not collect KYC from everyone and from everywhere, even if one site takes my info i can do bad things on other sites, so why bother

[pablomarwan 3082]

With the increase of some suspicious and doubtful businesses, it was agreed to impose these restrictions on customers and users of digital currencies by the companies that deal with them by that security apparatus to track their operations and see if they have a link to one of those actions, but it has been exaggerated in this Particular

[Raqeebzy 6456]

No doubt the purpose of cryptocurrency will be abused but some of these are necessary if really we want cryptocurrency to be accepted worldwide, we can't escape them. 

[imr 43]

I don't think it's a big problem and this won't change. Cryptocurrency will continue and this has already happened in the years past. I think it is just becoming officially adopted and where' government there will always be restrictions and regulations. It can't be another way. 

[BrolySSJ 7899]

I think that you are definitely right and it is very sad to see that crypto is losing its meaning. I think the biggest feature of crypto that is under threat is its anonymity and decentralization. If there are taxes implemented the KYC verification becomes a must and this will in turn result in users not being anonymous anymore. Furthermore this may give companies the power to manipulate the market and its price, which takes way from crypto and defeats the purpose.

[Honny143 13612]

11 minutes ago, BrolySSJ said:

I think that you are definitely right and it is very sad to see that crypto is losing its meaning. I think the biggest feature of crypto that is under threat is its anonymity and decentralization. If there are taxes implemented the KYC verification becomes a must and this will in turn result in users not being anonymous anymore. Furthermore this may give companies the power to manipulate the market and its price, which takes way from crypto and defeats the purpose.

Yes mate your right crypto is anonymous and decentralized but present time so many exchange want to do kyc compulsory and some big platform also need to do kyc, so in this situation crypto not encrypted for long term, and this platform definitely manipulate the crypto prices.

[Rezort 846]

I hope that even though a lot of regulations are happening I cannot imagine that cryptocurrency can really be controllable by some governments or huge organizations.

[lharost 1526]

I must say that's true, there are increasingly more regulations that are entering crypto and most of those regulation are totally against cryptocurrencies purpose which is total decentralization and anonymity, but we as users should try to change that with refusing to complete kyc for any exchange or wallet or any crypto based website, if they see less users are coming to their platform because of their new rules they will have to change their rules eventually. 

[gourav789 2834]

this is true that tax on Crypto currency is start by some countries and this is good and legit Also ( I think ) .

KYC is good and by kyc provide that we are legit person , KYC help to maintain spamming .

[malik6314193 5449]

On 11/11/2019 at 12:23 PM, teminalibug said:

The impose of taxes on crypto by Argentina

In one way this is good for crypto because now this country accept crypto currencies officially. 

 

On 11/11/2019 at 12:23 PM, teminalibug said:

KYC imposed by localbitcoin and many others (made faucethub.io to close it's services)

I also agree with you. KYC is not necessary for using crypto currencies. But there is one reason that governments are not accepting crypto currencies is illegal use of it. By applying KYC verification there will be minimum illegal use. And this process will help the governments to accept crypto currencies. 

[magd 5231]

In my personal opinion, and by looking at what is happening in the cryptocurrency market, I see that imposing taxes is an unsuccessful idea for two reasons. The first is that the currencies that we obtain will not suffice to pay taxes and secondly the difficulty of collecting taxes. As for the idea of the Libra currency it will take several years and I expect this currency to be a central authority

[P A Ashif 2409]

Yes, I have also read menus like this, but I don't think it's going to be end. I will say that. It's a new marking in the cryptocurrency world only in future every country will accept cryptocurrency. They will understand the need of it.

[Calvinpriva 17296]

I just wonder how KYC close the faucehub wallet because it was among the popular and trusted wallets for crypto. KYC its not a bad thing because its just a security for site owners, there are some sites who modified KYC security and make many people to hate it.

[yuwira 0]

The idea of a decentralized foreign money may additionally prove a failure inside the face of nearby fluctuations, and the want for a critical point of manipulate appears at the extent of every u . s . a ., as opposed to investing our cash in decentralized networks.

[Zaino34 0]

Digital currencies have been created in order to maintain the privacy of people, but some sites require verification of the KYC, although some people do not have any problem in using these sites and sharing their important information that they use digital currencies

[Zalaks007 543]

If this are being imposed on cryptocurrency I think it will it's soul purpose and will really break the reason why Satoshi created a decentralized currency that is not tax or control by anyone or government. 

[Cammer 4609]

Coming back to this topic, crypto currencies have proven itself to be stronger than fiat currencies and the biggest evidence to this is that crypto currencies faced the CoronaVirus and didn't end.

[Omar Ommeish 4872]

On 11/15/2019 at 4:55 AM, Neneng B said:

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.

Yes, I agree with you that it is sad, but the main people in Crypto will not allow this to happen because hiding their identity is very necessary.

[Magnom 0]

I don't think we will lose the essential meaning of cryptocurrencies.. There are still many governments against this cryptocurrencies project.. That's because they want to create their own official currencies and not depending on any cryptocurrency like bitcoin! 

[AmjadBydn 0]

Why ? I don't think that will happen , I think that Cryptocuurency project will success and it will pass all the problems we know that many countries are against this project but at the end Crypto will stoill standing

[Wilmer Garcia 0]

You think it's something they're trying to eliminate the scams that hurt Bitcoin so much personally I think it's very good for everyone because if they can create a system where they let you know who's behind every transaction, Bitcoin will have more momentum in much more countries 

[BTC Future 3946]

On 5/29/2020 at 6:33 PM, Wilmer Garcia said:

You think it's something they're trying to eliminate the scams that hurt Bitcoin so much personally I think it's very good for everyone because if they can create a system where they let you know who's behind every transaction, Bitcoin will have more momentum in much more countries 

There is a system as such, but there are also some ways to counter it. Major government institutions in the US do know what is going on and many times they bust the worst of the criminals on the darkweb. There are crimes that are unforgiveable and there is action taken against them.

[Ayush Singh 1175]

I think its for a good and smooth run of the Cryptocurrencies we can't say that these regulations denies the real meaning of the Cryptocurrency because imposing taxation depends upon the countries and its fair for the countries point of view also as kyc is the good way to protect the coins and will definitely benefit to users.

[Mwangi 5611]

It seems tht way , its like crypto is being invaded by the secret traditional ways of transacting business but its important we all think this is a down side and it can change any time so it works perfectly to really define what is right for the crypto system ,is it working, if so yes we can be able to value the use of crypto and believe this is just a slow slope that can be flatenned