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I'm worried about articles like this are because people want to try to regulate crypto currencies. I really like the idea of crypto being the wild west. If you
by rb808 8y ago
I'm worried about articles like this are because people want to try to regulate crypto currencies. I really like the idea of crypto being the wild west. If you use a cheap/crappy broker or exchange you're going to get a worse price than if you use a good (expensive?) one. Deal with it. If you want to deal with a heavily regulated currency use EUR/USD/JPY etc.
- verdverm 8y agoCryptocurrency will never achieve any meaningful status without regulation. We have anti money laundering and other financial laws for a reason.
- trophycase 8y agoUnfortunately this is the sacrifice that needs to be made if you want permissionless money. Regulation is not necessary.
- malcolmgreaves 8y agoPermissionless money isn't useful to the large majority of the world. It's a nice to have for rich people -- or "temporarily poor millionaires." More useful is to ensure that governments have the rules that their populace wants. And even most useful is to ensure that the human beings who don't have money (for the multitude of unfair reasons that may cause such a situation) receive enough to survive.
- verdverm 8y agoFortunately the populace wants regulated money.
- pavel_lishin 8y ago> I really like the idea of crypto being the wild west. Some people liked the idea of the wild west being the wild west. But it turned out that a lawless frontier favored a few people over a lot of others, and just because something is beneficial to you doesn't mean it's equally beneficial to others, or to society at large.
- trophycase 8y agoTell that to these US "helpful regulations" that prevent me from buying what I choose with my money.
- ambicapter 8y agoLike what, a hitman?
- swiley 8y agoIt's inconvenient to move more than $10,000 at once. There are good reasons to own a three necked flask other than making cocaine (although if you are an amateur chemist and actually buy one with bitcoin I'd be surprised if you didn't get in trouble.) There's gray stuff like porn, although I don't necessarily support that one.
- pavel_lishin 8y ago> It's inconvenient to move more than $10,000 at once. I realize that this is subjective, and everyone's got their own acceptable risk levels, but I would feel very, very paranoid about trying to move $10k via cryptocurrency. This whole thread's about the Wild Wild West, and trying to move $10,000 in cryptocurrency is like tossing some gold bricks in your bag and taking a hike, instead of paying Western Union to ship it - insured - via one of their secured wagons. (I'm also honestly not sure how convenient it is to convert $10k to bitcoin, and then convert it back. How long does it take for it to make it through the exchanges?) > although if you are an amateur chemist and actually buy one with bitcoin I'd be surprised if you didn't get in trouble And that's the whole point I was making elsewhere in this thread. Paying for something with Bitcoin doesn't magically make it legal.
- pavel_lishin 8y agoAnything that's illegal to buy with fiat cash, it's illegal to buy with cryptocurrency, too.
- deleted 8y ago
- village-idiot 8y agoCrypto advocates are speed running the history of financial systems. They’re getting pretty close to the “regulations might be nice” section of history.