Well, we have recently seen all kind of news coming from South Korea and with Russia sitting on fence denying that cryptocurrency is a currency.
Latest news from South Korea is that cryptocurrency investors can no longer trade anonymously, so they will need to link up their real names with banking accounts. Apparently to stop illegal money laundry. I see that market is reacting somewhat negatively on this, but in my opinion, this doesn't need to be negative. We have already seen Bitcoin futures listed on some big exchanges, and that's a sign of global adoption. With these kinds of regulation, we could perhaps see some stability in the market and perhaps people who have been sitting on a fence, afraid to enter cryptocurrency market will finally dare to do so when there is some kind of government regulation. But then again where does that regulation stop?
Russian Finance Ministry has apparently drafted a new bill on cryptocurrency saying that cryptocurrency is not authorized means of payment in Russia, therefor cryptocurrency is not money or currency... Can they do that?? I mean if I want to accept payment for my work in feather, then I will accept feather as payment, no one can deny me that, right ??
Personal view at all this:
Cryptocurrency marked needs some kind of "soft" regulation, as at its current state, it's wild wild west. But if these regulation become too tight and people are denied something they want then we could see a child effect, when you deny it something, it wants it more. We all are forgetting fundamental reasons why Bitcoin was created and how rotten economic world system is, how banks and money people are moving and regulating governments to do exactly as they want. That's exactly what's happening now, banks and money people are losing it and they are forcing governments to add more regulation.
I've been saying it over and over again, 2018 will be a year of anonymous cryptocurrency. I mean, yeah you can deny ICO's, you can deny centralized exchanges. But HOW can you block or deny something like privacy coins, I'm a HUGE fan of Deep Onion coin. I know, I know... you are thinking "omg this is just another Deep Onion shill"... It could be but there is a reason for it.
First of all, it's TOR integrated and recently upgraded to latest TOR version 0.3.3. In my book TOR network is still anonymous network regards of anything else, if you are really paranoid, you could always use a VPN as an extra security layer, but for my use, it's anonymous enough.
Then let me ask you 1 question, have you heard of BISQ? In case you haven't, it's P2P exchange network also on TOR network. Not surprised if you haven't heard of it, neither have I until recently. But with all regulations and stuff, this could eventually be a popular exchange.
And guess what ?? Guess who got listed there?
Yup, that's right. It's Deep Onion. Now how can you regulate that?? How can you stop this? You can't. Simple as that. YOU CAN'T!!
And now for the end, I'm not saying skies are falling and everything is bad, but it could be an idea to look at some alternatives just in case. I've seen mine and so far Deep Onion is my nr.1 choice when it gets to protecting your privacy and avoiding regulations. I will talk more about Deep Onion in another post why I chose Deep Onion but I will stop here for now otherwise this would be a very long post.
Please comment and upvote :) and I will continue to share with you my thoughts ( for what they are worth )