RE: Alt-coins, Regulations, and Steem: My Thoughts After Being Away
I personally view the regulations as going the wrong way. Cryptocurrencies were created to give people a path away from the heavy regulation in all other modern markets. That's essentially the point. People shy away from banks, credit cards, and debt, simply due to the level of information they collect, the lack of a free market, and the centralization.
So regulation of cryptocurrency will end up bringing in the same level of information collection and centralization that we sought to avoid. Think back to 2011 and 2012. That was when Bitcoin first popped up, and I think the attitude then was simple: "Finally a way to buy, sell, and trade in peace."
Regulation is good for the official government currency of a nation, but that leads people to want alternatives. I'd prefer them to be unspoiled.
Hello
I can agree with what you said to an extent. Unfortunately, this is how it is with anything that has massive success in this world. It gets regulated by governments. It may be going the wrong way currently, but I believe this can self-correct. There was a time when governments and people saying Cryptocurrencies is a scam and didn't believe in it and did not think it needed regulation. But here we are now. Most of the time, when regulations are implemented, there's usually revisions made because they don't get everything right the first time.
Yes, centralization will always happen. It's a cycle we go through in society. If we look back to the "wild west", things were getting out of hand and centralized organizations formed to regulate everything. Now we're wanting more decentralization and we will go through it until things get out of hand and form new centralized organizations for regulation. Then Repeat.
I can't say you're wrong, although I wish you were. Oh well.
Sometimes the most disciplined person only learns that discipline from having a wild youth.
I wish I was wrong too...