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anotherjohnishere t1_ixmve29 wrote

This is very necessary, and a good thing overall for the maturity of the space. Anybody arguing for a lack of regulation isn't arguing in good faith. Like traditional finance, people need to be protected, this is no different.

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IsilZha t1_ixn4smj wrote

Getting away from regulations is one of the core tenets of crypto, that its supporters constantly espouse as a positive.

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kciuq1 t1_ixn5wpx wrote

And we can see how well that has been working out.

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IsilZha t1_ixn70bu wrote

Yep... There's a reason regulations came about. They're finding out the hard way. And many of them still refuse to learn the lesson. There's still a lot of childish, day dreaming crytpo evangelists that only want regulations to save them, but not stop them when they want to do things like not pay taxes.

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cachemonet0x0cf6619 t1_ixq5575 wrote

folks using the word regulation don’t understand the technology.

this is a global peer to peer network. mfers haven’t regulated downloading movies off the internet what makes you think they’ll regulate a public financial infrastructure.

mfers really can’t answer the where and how or regulation.

what are you gonna do?

stop me from creating public and private keys?

you gonna stop me from using public rpcs? you gonna stop me from using command line on my computer? make cryptography illegal.

like, this isn’t hypothetical. fucking regulate if you can.

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persolb t1_ixqintl wrote

Practically, they will regulate exchanges… which is how most people keep their money.

In a worst case, this includes some mandatory reporting when you deposit or withdrawal to a non-exchange wallet. This would functionally bifurcate the market and require old school style money laundering.

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cachemonet0x0cf6619 t1_ixqjyhj wrote

Im not asking how to avoid taxes. no one is trying to avoid taxes. FTX didn’t skip out on paying taxes. it stole money. the call for regulation isn’t because taxes went unpaid.

im asking how you regulate a global peer to peer network with multiple points of entry?

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persolb t1_ixrdfuu wrote

I’m not sure why you are on about taxes. Money launderers usually pay taxes on the money.

What I mean is that when you go to deposit money/coins in an exchange, they are going to likely end up filling out the same forms and doing the same reporting as if you walked up to a bank with $30k in cash.

Cash and gold are also a ‘global peer to peer network with multiple points of entry’, and the government forces companies to gate keep their entries.

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cachemonet0x0cf6619 t1_ixrh24u wrote

Entries are kept by default on a public ledger. I also want to add that cash and gold are very centralized. Gold much less but it's not a viable means for exchanging value and it's hard to come by

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IsilZha t1_ixqcurt wrote

There it is.

Lmao

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cachemonet0x0cf6619 t1_ixqdozb wrote

your memes don’t make up for you not being able to explain how crypto gets regulated, bro.

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IsilZha t1_ixqt3tf wrote

You are the meme, regurgitating the same thought-terminating script your cult repeats all the time.

Followed by the most absolutely moronic take on what would get regulated. "You can't regulate my private keys" is easily the stupidest thing I've seen this week. 🤣 Thanks for that. It wouldn't be regulating what it is, but how it's used. I'm not sure if you dishonesty made up the stupidest possible thing, or if you are just that dumb. This post is an article about what kinds of regulations.

Regulation as a security/commodity. Consumer protection. Auditing requirements for exchanges. Regulation against all the various ponzi scams, rug pulls, market manipulation (like wash trading,) laundering through coin swaps, etc, etc, etc...

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cachemonet0x0cf6619 t1_ixqtva9 wrote

this is the best you got? please tell me how the use of keys can be regulated? pleas tell me. that’s the basket you’re going to put your chips into?

keep trying with that article though. you can regulate centralized entities all day. regulating banks is fine but don’t confuse exchanges with crypto.

eta: still waiting for you to explain how the what will get regulated?

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IsilZha t1_ixqve8d wrote

Oh my god. You're illiterate, too.

The only moron here who ever made any suggestion to regulate the public and private keys is you. Which I made fun of you for making such an abjectly stupid statement.

Is that all you got? A lack of reading comprehension and outright dishonestly arguing with your own imaginary straw constructs? 🤡

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cachemonet0x0cf6619 t1_ixqw76b wrote

The answer is you can’t and that’s why i brought it up.

i need you to be clear with your deceit. say it with me, you can’t regulate crypto.

you can regulate centralized exchanges but you said you want to regulate crypto so explain how.

and stop sharing an article we’ve already agree is irrelevant to regulating custodial wallets (keys)

eta: the article talks about crypto platforms (ui/ux like ftx and not crypto protocols like uniswap) being regulated and research, so… strong evidence for not being able to regulate….

hahaha unless by regulate you mean write stern letters. 🤡

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IsilZha t1_ixqy8vq wrote

You brought it up because it's a stupid argument that you invented to "attack" because you have nothing of actual substance. You literally just admitting to making a strawman argument and pretended like you proved anything. The only thing you proved is you can't even come up with an arguement against what we're actually saying.

>you can regulate centralized exchanges but you said you want to regulate crypto so explain how.

I did, you didn't actually respond to it. Yes, it's funny how you all ended up just creating centralized exchanges. The regulations wouldn't cover just them, but how individuals operate as well.

Pretty much all of crypto and their "value" is tied to exchanges both for how much they move around, and the mass manipulation.

I'm sure you'll try to tell me crypto prices aren't tied to exchanges.

>and stop sharing an article we’ve already agree is irrelevant to regulating custodial wallets (keys)

Who's "we?" As usual, cryptovangelists think they can just hand wave away things they don't like.

So did you have anything besides deeply stupid strawmen and meaningless word games, or is that the extent of what's rattling around in your hollow skull?

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cachemonet0x0cf6619 t1_ixr2fgn wrote

it’s literally your identity when making transactions and you can’t describe how to regulate it because you’re talking about ui/ux and not the protocol.

who is y’all, i use uniswap, 🤡.

the real problem is that you keep talking about prices and exchanges because your short sighted.

the same reason you can’t grasp censorship resistance is the same reason you don’t understand distributed systems.

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IsilZha t1_ixr4r5a wrote

>it’s literally your identity when making transactions and you can’t describe how to regulate it because you’re talking about ui/ux and not the protocol.

No one ever suggested it's possible to directly regulate the protocol itself. That's just you being a dishonest coward by continually insisting on using your own made up strawman. Thanks for the tacit concession that you can't actually argue the actual point. But I guess you can keep arguing with yourself in a mirror.

>who is y’all, i use uniswap, 🤡.

What?

>the real problem is that you keep talking about prices and exchanges because your short sighted.

Tell that to the millions of people that lost billions in FTX because it was unregulated and it ran on smoke and mirrors

>the same reason you can’t grasp censorship resistance is the same reason you don’t understand distributed systems.

Get a new line, dude.

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cachemonet0x0cf6619 t1_ixr5xae wrote

> Tell that to the millions of people that lost billions in FTX because it was unregulated and it ran on smoke and mirrors

This is how i know you don't understand. Those millions of people would still have their assets if folks like you would educate others on proper uses within crypto instead of bemoaning the regulation of tradfi establishments.

​

I won't get a new line because it's so true. GIJOE said it best, "knowing is half the battle"

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IsilZha t1_ixr6n79 wrote

Lmao, this is literally empty nonsense.

Thanks for confirming you're just a mindless zealot who always devolves to the same empty lines your cult told you to say. Deaf and blind and dumb and born to follow.

Let me know when you grow a few braincells and have some substance to offer, or demonstrate a capacity for independent thought. 🍿

Or keep making an absolute fool of yourself. Always entertaining to watch the clown show. I won't turn down free entertainment.

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cachemonet0x0cf6619 t1_ixr8ods wrote

This is all you have left. When folks like you don't understand you demonize. It's textbook.

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IsilZha t1_ixr9wrp wrote

Repeating your thought terminating cliches does nothing but tell me you need to terminate all thought and coddle yourself. 🤣

Just keep repeating what the cult told you, honey. Every time you come back with the same vapid lines is a tacit concession that you're too stupid to have this conversation. 🍿

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cachemonet0x0cf6619 t1_ixrcatf wrote

You mean what you're doing now? The difference is that I proposed the reasons your argument is flawed. (as a reminder, you're conflating exchanges and "crypto", whatever that is).

you, on the other hand, only call me names. Don't raise your voice, raise evidence to support your argument.

Please, i've been waiting.

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IsilZha t1_ixre8tk wrote

No, you insisted my argument has been something it never was. You straight up admitted you were making a meaningless strawman. That and pointless semantics games of regulating how crypto is used "isn't RegulaTing Crypto." Really grasping at straws, clown. 😂

The true mark of an intellectually bankrupt coward.

You have offered nothing else. Empty, thought-terminating cliches aren't arguments. It's just you getting off to yourself.

>raise evidence to support your argument.

You mean like FTX collapsing because there were no regulations to ensure they weren't just blowing smoke up everyone's ass, and you attempted to hand wave away with yet another "yOu JusT Don"t UnderStanD!" Not that I expect you to engage honestly. From your opening, vapid cult scripted line, it's clear you're just desperately flailing. Like all cryptovangelist zealots do. And as always, it amuses me.

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cachemonet0x0cf6619 t1_ixrfmia wrote

nope, you don't get out by changing your mind at the end.

> Getting away from regulations is one of the core tenets of crypto, that its supporters constantly espouse as a positive.

Those are your words so stop gaslighting me.

Now do you want to asnwer my questions about how "crypto" is supposed to be regulated or are you going to keep playing these games like i'm new here.

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IsilZha t1_ixrw1wy wrote

I like how you constantly evade actually directly responding to anything and come back with total nonsense.

> nope, you don't get out by changing your mind at the end. > Those are your words so stop gaslighting me.

Was this supposed to mean something, or were you just showing me your lack of literacy? How is this supposed to at all contest what I just said? It's like you have a mission to prove you're even dumber than I thought with every mouth-breather response. 🤣 This is a total non-sequitur. Which is recurring theme: you open your mouth, and nothing but total nonsense flows out.

>Now do you want to asnwer my questions about how "crypto" is supposed to be regulated or are you going to keep playing these games like i'm new here.

I already did. (I tried to link to it, but links are apparently shadowbanned in this sub.) You continually ignoring it doesn't mean it didn't happen. And why is crypto in quotes? Are you so mentally deficient to not understand that crypto is a catch-all term encompassing all of cryptocurrencies, blockchain, and anything related? Please tell me you're not that brain dead that you didn't know this.

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cachemonet0x0cf6619 t1_ixrwg0a wrote

all you’re doing is name calling and dodging the conversation. I’ve already said that tough you forced my hand this time so you call call it circular so you could name call.

got it.

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IsilZha t1_ixry69p wrote

See? You're incapable of actually responding. You can't even explain your own nonsensical statements. Whinge some more, baby.

Standard MO for every mindless crypo-drone: repeating empty scripted phrases, look for any excuse to be a victim when caught in your lies and nonsense.

Have some dignity, boy.

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cachemonet0x0cf6619 t1_ixrzu0o wrote

haha. like i said, name calling is the absolute best you have offer.

i quoted you and asked you how to regulate “crypto” and you gave me an article about banks

when i suggested that banks don’t apply to “crypto” (how could they, crypto is the commodity not the entity). or is it?

what did you mean by crypto?

anyhow, when i mentioned it you got defensive and called me names.

I’ve since been called more names drawn from what i would suggest is a limited vocabulary to start with.

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IsilZha t1_ixs1vq1 wrote

> haha. like i said, name calling is the absolute best you have offer.

You only say that because like a dog you're easily distracted and pretend nothing else was said. You desperately latch on to any excuse you can. You're just so weak willed it's super easy to goad you into revealing what's important to you: running away.

> i quoted you and asked you how to regulate “crypto” and you gave me an article about banks > > > > when i suggested that banks don’t apply to “crypto” (how could they, crypto is the commodity not the entity). or is it?

What in the hell are you talking about? I never gave you any article. Must've been one of those imaginary arguments you made up in your head, again.

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cachemonet0x0cf6619 t1_ixs4yp1 wrote

you don’t even remember what you’re saying. I’m done.

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IsilZha t1_ixs5lp1 wrote

You were done when your opening comment was a abjectly stupid argument you made up yourself to attack.

And who do you think you're fooling with your lies but yourself? lmao

What is the face of a coward? The back of his head as he runs from the battle. Thanks for your spine, I'll add it to my collection of smooth brained cryptovangelists. 😆

E: lmao, that's the 5th cryptobro to block me this month. So long, loser

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anotherjohnishere t1_ixn73gp wrote

People in the space are not a monolith. Any person who is being honest with themselves that works in the blockchain space knows both that regulation is necessary and coming.

Source: I work in the space and I'm very pro (reasonable) regulation.

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IsilZha t1_ixnfoiv wrote

Just because some of you have some sense regarding regulation, doesn't stop making it a core tenant that most espouse. Generally as an offshoot of "being censor proof." Tenet already implies "in general" and not "100% of everyone involved."

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anotherjohnishere t1_ixnh2dm wrote

I don't agree that that's what is most espoused, as lack of regulation is not a benefit nor would I argue that its a tenant of crypto in this day and age. Maybe 10 years ago.

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IsilZha t1_ixnotb5 wrote

Agreement is not required.

Just search r/cryptocurrency or r/Bitcoin for "regulation," as an example, and any post that talks about imposing regulations on crypto, the vast majority of all the upvoted (the most widely and generally agreed with) comments are against regulating crypto.

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anotherjohnishere t1_ixnphmm wrote

My man I'm very active in the crypto community I know what it's like. What I'm telling you is that Reddit isn't indicative of public opinion for one, and for two regardless of their want regulation is coming. You're generalizing and that's what I'm warning you of. The space is not a monolith.

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IsilZha t1_ixnqlrh wrote

Ah yes, good one. The large, public Reddit communities of crypto enthusiasts don't count as a public opinion of crypto enthusiasts because... uhhh... ::waves hands:: Brilliant.

Like minded people always tend to interact with like minded people, so your anecdote about who you interact with doesn't really say much about what the prevailing attitudes are.

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deesta t1_ixn832g wrote

Compliance officer in the space here, and very pro-regulation as well, for obvious reasons. You’re 100% correct. There’s a happy medium for sure, we just need to find it.

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anotherjohnishere t1_ixnhbl8 wrote

Absolutely agree 100%, Regulations that support but don't strangle innovation would be ideal. I feel like it's more clear than it's ever been that we need to invite regulations and have a seat at the table for that conversation.

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killadrix t1_ixp8w0q wrote

Crypto supporter here, happy to see the space regulated. The crypto space will never achieve any type of mainstream adoption until it’s regulated.

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cachemonet0x0cf6619 t1_ixq4dr0 wrote

you might support but you don’t understand.

regulation is needed when you turnover custody of your assets.

crypto’s tenants are based self custody.

what you really meant to say is that you support regulating banks.

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killadrix t1_ixq6ogs wrote

No, I meant what I said. Clinging to some weird, antiquated anti-bank dogma around self custody is exactly the type of sentiment holding the crypto and digital currency spaces back from mainstream adoption.

It’s wild to me that people sit on a pile of “self custody” magical internet money they have almost zero reasonable way to ACTUALLY SPEND/USE but hey, at least you’re sticking to the crypto “tenants”, it’s self custody, and you’re REALLY sticking it to the banks, right?

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Njaa t1_ixqt16n wrote

How do you suggest regulating things like DEXes, where no single person or entity has any control or insight beyond what is publiclaly available?

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killadrix t1_ixqxbeh wrote

I never said I had the answer, I said I support finding a way to making it happen.

I don’t have the answer for curing cancer, but I support people smarter than me finding a way to make it happen.

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cachemonet0x0cf6619 t1_ixqaay4 wrote

it’s anti censorship

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killadrix t1_ixqn6bz wrote

Okay, so (presumably) you have money invested into an asset class you can BARELY use for its intended purpose (a digital currency), because it’s “anti censorship”?

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cachemonet0x0cf6619 t1_ixqpovu wrote

are you asking me to google censorship resistance for you?

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killadrix t1_ixqx4k8 wrote

No, I’m asking you to explain your position. But if what you got out of my reply is that I’m asking you to google something, we’re done here because I’m not wasting time discussing this with someone who made this kind of weird nonsensical leap.

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cachemonet0x0cf6619 t1_ixr1qn9 wrote

don’t kid yourself. you wouldn’t be taking swipes at “digital currency” if you understood that censorship resistance is the “intended purpose”

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cachemonet0x0cf6619 t1_ixq5cx4 wrote

get it right, it’s censorship resistance that we’re avoiding. guess what “regulation” is?

the retail investor is too stupid? speak for yourself

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AlphaSteboh t1_ixnpma9 wrote

But...! The invisible hand of the free market! Adam Smith!

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anotherjohnishere t1_ixnpz0q wrote

Hahahahaha more like free market unless the market disagrees with them. I've never vibed with the libertarian ideology on which cryptocurrency originated, full of hot air.

Blockchain technology will be very much a part of all our lives, and in many ways already is, innovation takes time, and we have a lot of work still to do, but it'll be the norm soon enough.

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cachemonet0x0cf6619 t1_ixq5r17 wrote

you can’t vibe with something that you don’t understand.

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anotherjohnishere t1_ixrs5o9 wrote

Right lmao I'm really struggling to understand libertarianism because it's just so complicated... /s. It's not hard to understand republican lite, I work in the space I don't need to be told about it's origins. I don't vibe with the taxation is theft crowd because it's a stupid argument, that's why I don't vibe with yall.

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cachemonet0x0cf6619 t1_ixruwya wrote

you failed the vibe check already. no one trying to dodge taxes. all systems need maintenance. the vibe is inclusion into the global economy via public financial infrastructure

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[deleted] t1_ixmxve7 wrote

[deleted]

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anotherjohnishere t1_ixmz017 wrote

I would argue that this is not the case. Cryptocurrency was made to allow trading peer to peer, in effect avoiding the middle man (i.e. banks and other ironically centralized institutions). "The blockchain " protecting people has never been and never can be a talking point, as the blockchain is merely a ledger, that's designed to track transactions. That's it.

As far as not "adding value" I don't believe that to be accurate, about crypto itself or the underlying technology that makes it run. Blockchain technology very much has a place in our society moving forward when it comes to data storage, transference, peer to peer transacting, etc; so to say anyone involved is a fool waiting to be separated from their money is silly and wrong.

Scams are unfortunately a part of the world we live in, and in an unregulated space like cryptocurrency, this can be a huge issue. Regulations that allow for growth and maturity in the space are necessary to prevent these things and protect people from scam artists a la SBF.

TL;DR not everything in the blockchain space is a scam.

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