Cyptocurrency to lose it's meaning!

[Mishu1234 101]

Well this is totally unacceptable because then there will be no difference between cryptocurrency and regular ccurrency so this should be changed as soon as possible       

[Brand1 1336]

We must trust the cryptocurrencies despite all the manipulation that occurs to them, but it will surpass this and will become the most important thing in the future.

[Michael0606 861]

Dude, obvious ed, but I will tell you that it is not negative if you realize, cryptocurrencies especially Bitcoin are being included in countries, companies and governments, so there are already KYC methods and others, this is a good thing, the inclusion of Cryptocurrency imagines going  sl market and buy food with btc.

[teminalibug 309]

On 4/12/2020 at 3:06 AM, vaoijgf said:

Crypto doesnt lose their meaning if we use good and working projects instead of hype ones that only use the name of crypto but arent really crypo currencies.

I'm not saying that they lose meaning because of all the scams around, but because of the change of direction of use, it was supposed to be money, but tell me is it real used as money?

[teminalibug 309]

On 11/15/2019 at 3:38 PM, Sumayya said:

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

Tax are paid only on exchanges but there are many other places you can use crypto tax free, it is still a challenge.

[Saj555 2250]

Cryptocurrencies are mainly created to easy the process of tradings and purchases. But some of the peoples greediness and selfishness has made the task much tougher than before.Scammers always try to hack valuable information from all the user. And thats why all the secure way was  incresed and it shall continue like this in future. 

[Crypto123 0]

Yes I strongly support you in these ideas, yes unfortunately these annoying things that were found in the world of Crypto eliminated the dream we were dreaming about and the goal that Satoshi made Bitcoin for, Satoshi's goal was to create a decentralized currency from which you can send and receive money To and from anywhere in the world without restrictions and no one can control you, but these things, especially KYC, have destroyed this beautiful dream. So yes cryptocurrencies have lost their meaning.

[George10 9932]

You are right cryptocurrency's meaning is slowly being wiped by the regulations being put in place by many entities that request for KYC verifications like the move taken by Localbitcoins to tighten the process of identity verification and to ban or incoming transactions until when this procedure is done and this  goes against the definition of cryptocurrency based on privacy.

Edited April 16, 2020 by George10
Correction

[Whited35 15285]

Criminals misused the cryptocurrency for wrongly earned money. They invested their black money in cryptocurrency to evade the tax and to make money laundering. After this sort of activities, I think government made some restrictions by enabling KYC. If KYC is applied to crypto world, exactly like you say, crypto is losing its meaning I think. 

[Ridam 7455]

That's why Satoshi Nakamota is not known untill nowm following the same principle of Crypto currency. And talking about kyc we should avoid them in my view. And Libra is a failure. We should be working on Crypto by taking it as technology not as only way of Earnings and profit.

[MrGox 880]

From time to time it happened in crypto world, l don't think that there is nothing to worry about it. These facts will not change anything in crypto world. 

[X_ujjji19 7]

I cannot say more. If this is possible then the aim of Naka Mote fail because he wants developed more secure and user anonymity.

[Virgil dijk 1431]

I'm think cryptocurrencies has never been controlled by any body and , has not lived by regulations but by privacy so I think , if KYC and taxes are being applied to cryptocurrencies then it has loosed its privacy , so I think for me I can't do with a coin that has been regulated.

[teminalibug 309]

Just now, halloweed said:

I too can't say that crypto is mature enough to be called money and i hope this will change in the future, and i will be there to witness this.

If people gets to comfortable with crypto been as an asset to trade with only but not as money then i'm afraid that is all it will ever be.

[Treat1234 0]

1 hour ago, Saiful890 said:

No country will be under control and it's all for a free currency and they put pressure and impose huge taxes, and yet cryptocurrencies are strong and many countries want to centralize and manage cryptocurrencies

There is no country that will have a good rise on cryptocurrency, it is not possible for them, unless they can impose tax and definitely it won't last have any effects on cryptocurrency

[Zues 1069]

On 11/11/2019 at 3:23 PM, 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 quite unfortunate that bitcoin will lose its meaning and will lose its value if the declining and inflation will continue. I will feel sad for those who invested in bitcoin and is waiting to earn. it is sad that bitcoin will lose its meaning. 

[teminalibug 309]

8 hours ago, postonhai said:

We all know that Crypto Currency is a tax free currency but in many exchanges we have to complete our KYC to make a deposit or withdrawal request. This is a tough work but I think they want to save their websites from spamming and make their system more secured.

We can't blame them they have just had enough with spammer and scammers but they also can not blame us for not joining because we are done giving up our identities to scammers.

[deepown 0]

12 hours ago, kusvuw10 said:

I have made a lot of money from cryptocurrencies and I see it is improving every day. And for me, cryptocurrencies have a future and people are very active with it right now.

I do not see anybody been that much active lately, everyone is scared and they have hidden their money into the stable coins.

[teminalibug 309]

13 hours ago, Jump said:

It is crazy bad news and unfortunate to hear because if Bitcoin will lose their money and savings then those who invested will lose their investments and it's sad that they will not earn money for the year.

I did not say that bitcoin will lose their money savings or whatever, i only said that bitcoin will is loosing it's meaning, and by meaning i mean the values that it is supposed to stand for.

[teminalibug 309]

10 minutes ago, Majeshi said:

KYC verification is not bad at all because it increase the security of users though we need to share our documents to those site which are trusted like localbitcoins and other sites.

It does not increase the security of a user, it increases the security of the site you give your data to. You must understand that.

[Upright 2688]

What really disgrunt me is that of the libra could j being having to just join the Crypto economy as basically the Facebook wanted attention as being the first Crypto coin to basically be backed by a social media, as they are like anti Crypto revolution as they are just a dead wood to destroy the notion of history

[Amir Vao 341]

On 11/11/2019 at 1:23 PM, 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?

 

Cryptocurrency has great usecase. Also it has the power to replace our payment system. Because it's digital currency. But it's anonymous and kyc can fix this.

[teminalibug 309]

1 hour ago, Amir Vao said:

Cryptocurrency has great usecase. Also it has the power to replace our payment system. Because it's digital currency. But it's anonymous and kyc can fix this.

You think crypto being anonymous is bad thing and that KYC can fix this, you are know, anonymous is what is good about crypto.

[SuperCrypto 7193]

On 11/11/2019 at 9:23 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?

 

But isn't it possible for governments to recognize cryptocurrencies and their privacy and to regulate them more flexibly so that they do not lose their advantages? I think that instead of creating new blockchain laws, the government should adapt existing laws to fit the new technology.

[Lover840 0]

On 11/11/2019 at 12:53 PM, 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?

 

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.