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Exactly. Regulation can only be long-term good for the space, which is sorely lacking in legitimacy.
by sanderjd 5y ago
Exactly. Regulation can only be long-term good for the space, which is sorely lacking in legitimacy.
- __MatrixMan__ 5y agoI'm not so sure. There's a type of person who would deem the US Government having a privileged role in coin governance as a legitimacy-reducing factor for that coin, and that type of person is over-represented in crypto circles. Also there's a possibility that whatever coins decide to comply end up spending their reserves on humans-in-the-loop to ensure compliance, thereby giving an advantage to the noncompliant coins. Something analogous to this happened where I'm from: We voted to legalize recreational cannabis, but most people still use the black market because regulatory burdens put the legal shops at too great of a disadvantage to be competitive.
- anonporridge 5y agoThe space has so far peaked at a $2.6 trillion valuation without a sense of legitimacy. Where the hell could it go if it gets an official stamp of approval by the US government?