4 ms·
There's no free lunch. Just because regulators haven't caught up with things, that doesn't mean it will stay that way. Here's how it's going to go down, like i
by TrackerFF 5y ago
There's no free lunch. Just because regulators haven't caught up with things, that doesn't mean it will stay that way.
Here's how it's going to go down, like it always does:
1. Gov. tries to regulate and restrict usage
2. If that fails, they will go after bank accounts tied to brokerage accounts etc. Hell, in some countries it's extremely hard to use money made from crypto as a down payment for mortgage, auto loans, and what not - because how hard it is to prove that the money has been earned legally.
Some banks won't even touch crypto customers with a 10 feet pole, because all the regulatory uncertainty.
3. If that fails, they will start to lay down the law with even more drastic measures.
I love technology, I really do - but there's this extremely naïve and arrogant attitude in the community, that if you just power through in the name of technology, and ask for forgiveness later, then it's OK - it rarely if ever works that way. Regulators do not suddenly give in, and abolish "arbitrary" laws / regulations because someone found ways to circumvent or skirt them.
FWIW, I'm not saying that the technology is a dud - only that trying to circumvent regulations by "doing it with crypto" / "decentralized" is a flawed way to go on about things.
- whitepaint 5y agohttps://en.wikipedia.org/wiki/Zero-knowledge_proof https://en.wikipedia.org/wiki/Zero-knowledge_proof