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RE: BITCOIN (BTC) Evening Update: Will Governments Soon Attempt to Regulate Cryptocurrencies? If so, BitShares is the only TRUE HAVEN from Government Molestation!
What I don't understand is how Decentralized exchanges will be safe and how governments cant do anything. I mean I have absolutely no doubt there is a lot of dirty money being moved through cryptos. I mean I am just realistic, one would have to really ignorant to believe otherwise. I really don't see the issue with governments regulating it. Its good for crypto. Shady people should be out. I can bet there is a lot of money being moved through crypto. I am all for regulation so we can keep this shit out. Whether decentralized or centralized exchanges.
hsbc caught laundering drug money noone goes to jail. during the savings and loan crisis bankers went to jail. 2008 correction noone went to jail they got bonuses. look at the currency crisis bank run and bail-in at cyprus.
decentralized exchanges cannot be shut as they do not have a single point to shut down. no executives no offices. i have used centralized exchanges and they would always hold my funds. ever since using the bitshares dex i have never had my funds frozen and can sleep well at night. bofa lost a wire transfer of 20k of mine for over 6 months. i almost had to close my brand new business because of bofa and there incompetence. shady ppl are everywhere but im more worried of the shady ppl in power in government and their collusion aka fascism and fractional reserve banking.
Thanks for chiming in and sharing your experience TT-DOGG...some people are still leary of other exchanges but when they realize these centralized exchanges have control over your keys, and your funds, they begin to wake up fast
unfortunately most ppl wont realize till their funds are frozen or there exchange gets hacked. even after that some ppl still wont learn. unfortunately but i compare bts dex to zion. the smart ones will be going to zion once the us gov starts shutting down exchanges just like what happened in china.
Then with so much regulation already in place, why is the USD the primary currency of criminals? How do banks keep committing 10,000 instances of money laundering but get fined a pittance of the profit made from the criminal acts?
I agree. But my point is regulation is needed. It brings crypto to mainstream. Money laundering crap will happen. For example I don’t want crypto to be in bad light. Seen as money used by terrorist, ransomware And drug money and stuff. I would rather have it regulated and streamlined for adoption. Shady people will find their way but that doesn’t mean we should let crypto run wild and be crapped on. Let it regulate. ICOs are big pump and dumps. I see it happen all the time. We can’t ignore that. That part certainly needs regulation.
The regulation comes from the smart contract technology. The last thing we need is more idiot government. When the government gets involved, all credibility goes out the window. One would have to be ignorant to believe otherwise.