The constant battle over regulations in bitcoin and other cryptos has been in headlines over the last few months. 2017 was a hot bed for ICOs, Airdrops and god knows what else! With over 1,500 digital crypt currinies and I am ser thousands of others that have not made it to coinmarketcap.com its been a serious mess when you look back at it.
Honestly I feel some regulation is needed because seriously about 90% of people are REALLLLL dumb with their money. Investing in shady companies and people to try and make a quick buck. Then when they get scammed they go and complain to government agencies such as the SEC. If you really want to be decentralized then these people need to realize their are no productions you are FULLY responsible for your actions.
But lets face it, this wont ever happen as people feel entitled anymore and when they make a bad choice for some reason they feel everyone else should pay for it.
So are regulations needed ?
Most likely YES! simple because of the reasons listed above. People need protections from themselves but also bad people and companies need to be held accountable if they are just out right scamming.
In 2017 we saw 902 ICOs launch of which 142 failed in the funding stage and 276 have failed due to scamming and cutting and running with peoples money. That is MASSIVE 46% failed ICOs in just the first year in which ICOs where only popular for about 5 months.
We can clearly see by these numbers that scammers and people cutting and running with peoples money is running ramping and seriously hurting if not crushing the growth of cryptocurrency right now.
Heck we all know we need to pay taxes on our gains now and they are watching it so why not start building in some of the protection the government can offer so half the crypto market place it not just flat out steeling peoples money!
I think regulation is needed in the ICO space. Too many of them are outright scams.
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you are true brother, indeed the regulations are really needed and for sure people nees protection. thank you for this post.
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Two major problems. As in developed countries it's good to have regulations and your governments are also sincere with you. But what's about us? Underdeveloping countries? Governments are not pure elected. They are just thinking for their own interests. Doing corruption and lotting us. I think we need more time to understand blockchain and denctlilze systems. Because governments have loted us more than ico companies.
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Does anyone else feel like the government doesn't have much of a right to be taxing crypto investments and mining? They haven't done much to make it any easier..
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Good 😂
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This post has received gratitude of 4.65% from @appreciator courtesy of @bitcoinflood!
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It's an interesting question, I see both sides of the argument. The problem is these government organizations always want to expand their power, it's never just about providing the necessary regulation. I think the market ultimately sorts the good from the bad as we are seeing with the increasing number of low value-prop ICOs.
It's kind of hypocritical for people to be wanting smaller government and 'de-centralization' but championing regulation. I agree people need to take ownership of their actions. This is a constant issue in society in general, we are always looking to blame someone else for failings and praise ourselves for victories.
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The regulations come to benefit the crypto, they will be less volatile and generate greater confidence for the market.
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This post has received a 3.26 % upvote from @boomerang.
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regulation is needed.
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Excellent friend very good and interesting valuable information thank you for sharing and contribute to this great community if you can support me with a vote greetings
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Excellent post!
Regulation is important to protect the weak.
As far as education advances, the need for regulation will decrease.
Please receive my humble vote.
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You got a 1.45% upvote from @postpromoter courtesy of @bitcoinflood!
Want to promote your posts too? Check out the Steem Bot Tracker website for more info. If you would like to support the development of @postpromoter and the bot tracker please vote for @yabapmatt for witness!
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