3 ms·
I would much rather live in a world where I can choose for myself whether or not using crypto like Tether or Binance Coin is too risky. It has been said that cr
by ipnon 5y ago
I would much rather live in a world where I can choose for myself whether or not using crypto like Tether or Binance Coin is too risky. It has been said that crypto is essentially regulatory arbitrage. It's like a UFO landing on Wall Street, yes it's obviously finance but it is different enough that the government doesn't know how to deal with it. This has clearly led to new financial and cryptoeconomic innovations, as well as clear scams and crashes.
Nonetheless I would rather make the decision for myself. Financial regulations are already looser for the rich in the United States than the poor. There are many more shackles on what you can do with your money as a retail trader than a institutional trader. At least one benefit that crypto has over traditional finance is that all participants have the same opportunities. For the most part it is open source code for nodes that anyone can run themselves.
Finally I'd like to add that the nature of crypto means that when the United States removes its regulatory ambiguity, or if USG decides to crackdown on the whole endeavor, there will most likely still be some country like El Salvador where it is still legal and accepted. So to me it seems that the future of crypto is still bright despite what may be seen as increasing regulatory pressure from the elephant in the room.
- deleted 5y ago[deleted]
- kenneth1amar 5y agoClearly the freedom to choose is the actual problem here. No one here is taking time to point out issues in bitcoin that would fail to laugh at someone loosing their money as a result, let's be honest about that at least. Thus it's pretty clear that all of this a double standard to crypto, and are only feigning concern for it's users. The real issue here is the collective concern about crypto's impact on an already failing USD. These people are just trying to selfishly protect their own investments by utilizing the legal system like a bully. Hey, this sounds like a problem crypto might solve...