3 ms·

Without regulation, it's just a huge casino. Then again, it's not really possible to regulate.

by rhacker 4y ago

JumpCrisscross 4y ago
> it's not really possible to regulate Hell of a lot easier than cash.
- etothepii 4y ago
  This is both true and not true. Cash is notionally untraceable but try moving $10m in cash illegally for less than 10% fee, and good luck buying anything if that cash represents a sizeable portion of your legitimate net worth.
  - LarryMullins 4y ago
    > Cash is notionally untraceable but try moving $10m in cash illegally for less than 10% fee, That's easy if you can tolerate risk; just put it in the back of a u-haul and obey the speed limit. Of course if the "cash" is actually a number in a bank account, not actual cash, then it's not so easy.
    - deleted 4y ago
      [deleted]
    - deleted 4y ago
      [deleted]
    - etothepii 4y ago
      In this context "moving" was intended to mean from one person to another not within one country.
  - A4ET8a8uTh0 4y ago
    Yep. Most people do not believe me, when I tell them that having even 10k USD on their person is asking for trouble. Sometimes I wonder if people understand the world they operate in. Then I remember more and more people pay with plastic or phone and it kinda starts to click.
user3939382 4y ago
It can easily be regulated. Enforcement is a different issue. The reason I’m not set for life is because when I discovered bitcoin at $0.25 my immediate reaction that the banking cartel that runs the world would get it regulated out of existence the second it got on their radar. In the long run I’m probably right but I could have made out in the meantime.
- AlexandrB 4y ago
  > The reason I’m not set for life is because when I discovered bitcoin at $0.25 my immediate reaction that the banking cartel that runs the world would get it regulated out of existence the second it got on their radar. I think about this too, but I'm conservative enough that I would not held onto (all) BTC as it went past $1000, so I suspect my gains would have been large relative to my investment, but not life-changing.
  - dec0dedab0de 4y ago
    I think about this too, but I'm conservative enough that I would not held onto (all) BTC as it went past $1000, so I suspect my gains would have been large relative to my investment, but not life-changing. I tell myself the same thing, except I would have sold at $100
spookthesunset 4y ago
If crypto becomes regulated (and actively enforced!), the whole thing will crater. There is absolutely no point to crypto besides being used as a way to bypass regulation. With regulation, crypto is a completely boring pseudo-investment. But hey, maybe I’m wrong and regulation will be a positive for crypto. I doubt it very much though.

Without regulation, it's just a huge casino. Then again, it's not really possible to regulate.

JumpCrisscross 4y ago

> it's not really possible to regulate Hell of a lot easier than cash.

etothepii 4y ago
This is both true and not true. Cash is notionally untraceable but try moving $10m in cash illegally for less than 10% fee, and good luck buying anything if that cash represents a sizeable portion of your legitimate net worth.
- LarryMullins 4y ago
  > Cash is notionally untraceable but try moving $10m in cash illegally for less than 10% fee, That's easy if you can tolerate risk; just put it in the back of a u-haul and obey the speed limit. Of course if the "cash" is actually a number in a bank account, not actual cash, then it's not so easy.
  - deleted 4y ago
    [deleted]
  - deleted 4y ago
    [deleted]
  - etothepii 4y ago
    In this context "moving" was intended to mean from one person to another not within one country.
- A4ET8a8uTh0 4y ago
  Yep. Most people do not believe me, when I tell them that having even 10k USD on their person is asking for trouble. Sometimes I wonder if people understand the world they operate in. Then I remember more and more people pay with plastic or phone and it kinda starts to click.

user3939382 4y ago

It can easily be regulated. Enforcement is a different issue. The reason I’m not set for life is because when I discovered bitcoin at $0.25 my immediate reaction that the banking cartel that runs the world would get it regulated out of existence the second it got on their radar. In the long run I’m probably right but I could have made out in the meantime.

AlexandrB 4y ago
> The reason I’m not set for life is because when I discovered bitcoin at $0.25 my immediate reaction that the banking cartel that runs the world would get it regulated out of existence the second it got on their radar. I think about this too, but I'm conservative enough that I would not held onto (all) BTC as it went past $1000, so I suspect my gains would have been large relative to my investment, but not life-changing.
- dec0dedab0de 4y ago
  I think about this too, but I'm conservative enough that I would not held onto (all) BTC as it went past $1000, so I suspect my gains would have been large relative to my investment, but not life-changing. I tell myself the same thing, except I would have sold at $100

spookthesunset 4y ago

If crypto becomes regulated (and actively enforced!), the whole thing will crater. There is absolutely no point to crypto besides being used as a way to bypass regulation. With regulation, crypto is a completely boring pseudo-investment. But hey, maybe I’m wrong and regulation will be a positive for crypto. I doubt it very much though.