RE: 👨‍⚖️ As Regulations Hit Could This Mean Less Options ?

You are viewing a single comment's thread from:

👨‍⚖️ As Regulations Hit Could This Mean Less Options ?

in bitcoin •  7 years ago 

Respectfully OP, The fact that the gov wants to regulate out these anonomous coins is not a big win for the crypto community.

More use cases, and more people using crypto for regular day to day transactions is what is good for crypto and further adoption.

The gov realizes it can’t get rid of crypto so the next best option is to regulate the heck out of it. But I don’t think this is ideal for us. I think the entire point of crypto is the fact that we can regulate the currencies ourselves without getting the government tied up in all of this. If we let gov start regulating crypto, we might as well just go back to using dollars for everything.

The government hates the idea of not being able to track transactions of users. It still wants to control the money supply. And if we let it regulate crypto, we lose the decentralization that made crypto enticing in the first place. I think we need to do what we can to push back against this, but if we lose Monero and others, hopefully someone will be able to do something fancy with smart contracts to enable there to be some form of private transactions.

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!