RE: The Incoming Wave of ICO Regulation (Yes, It's Coming)
It's short-sighted and pathetic for any nation to attempt to regulated a global, decentralised entity. There are more than enough tricks available on the internet to make one appear to be someone else (VPNs been the most simple and logical). Or you could use legitimate methods like becoming an e-resident of crypto-friendly Estonia and operating an Estonian bank account to invest in crypto however you like.
It's just plain stupid for any nation to exclude themselves from the future of commerce, finance, "stock" markets, tech startups and technological development by over-regulating crypto. And in the crypto space, any regulating is over-regulating. If a country makes it hard for people to buy crypto then:
- they will just buy it elsewhere through online means.
- that country will get left behind economically.
Mark my words, the countries becoming crypto "safe havens" are going to reap enormous benefits from doing so!
Thank you so much @bitbrain for your insights. These are very interesting thoughts.
I mostly agree with you ! But we must have some regulation at some point to make it acceptable for the « common people ».
They do not understand and will not believe in crypto without governments imo
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It will be survival of the fittest, a crypto based Darwinian selection. I laugh every time I hear of Americans suing each other over crypto. That's not how it works: you safeguard your assets and you choose whether to invest or not. The mindeset of "if it makes me a 100 times return I'll say nothing, but if it crashes then I will sue" is utter BS. You can't have your cake and eat it. You want reward, you need to deal with risk.
But I hear you and I think there is hope for the "crypto illiterate". Not through government, they must stay the hell out of crypto, but rather through crypto based products and investment solutions from various finincial services providers. This isn't optimal, these services will no doubt skim hefty fees off the top, but it will allow everyone to invest (corporations and individuals) and the crypto market to grow.
Thank you for sharing your thoughts once again @bitbrain.
I could not agree more with you, this is still the far west, you can earn a LOT or lose everything. People investing in this field should know that and be adults.
I would agree with you on the tech apps built on top but I have trouble seeing big institutional invest without some kind of regulatory body.
Take care and have a great weekend.
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