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The End of Crypto’s Wild West?


Hodor
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"The question percolating in my caffeine-fueled brain back then, while the monitor’s blue light cascaded over my retinas in the darkness was “how will the governments stop this?”  Now, five years later, I think I have my answer:

They can’t."

As usual a perfect ending to a very well written blog. Hodor you should consider if you haven't already, writing a book. You are a talented writer. You are definitely in the right place at the right time here because we all love and appreciate the DD that you put into all of your blogs. Keep them coming. 

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Couple of points that come to mind:

1.  It's the banks that write the regulations and laws.  The idea that banks will stop trying to control everything is naive at best.  That's the delima something like Ripple puts everyone in and their blinders based mission to have only banks running validators.  You're basically handing the keys to the future of money over to the most corrupt, greedy and selfish people in the world.  Then expect them not to collude and/or to do right by the people.  They're banks...they don't care about people.  They care about money.

2.  If one is paying their bills with crypto profits, yes fiat is necessary today.  However, for those that see a different long term picture...the bet is that when things truly are mainstream, you won't need fiat.

3.  There are plenty of centralized exchanges that don't require any sort of verification.  If no one knows who is actually trading, it's impossible for the IRS to link to you.  Going further...just wait till true decentralized/distributed exchanges takes off.  We're certain to hear more of what we heard in that hearing --> "We don't have jurisdiction." B)

4.  I haven't had a chance to read any of your posts lately, but every time I do, I'm reminded of how good you are at it.  I always learn something from them.  Well done and keep fighting the good fight.

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44 minutes ago, Hodor said:

Lately, regulation of crypto has taken center stage.

In this blog entry, I talk about government attempts to reign in the more chaotic parts of crypto without killing the golden goose.  

I cover the latest information out of India, South Korea, and from the US Senate hearing on Tuesday.  

Hope you enjoy & please leave any feedback below.  Please feel free to share my blog with a friend or on other media - & thanks for doing so!  :thank_you2:

Regarding CC purchase restrictions - I won't say if it's a good or bad way to protect the customer.

But one thing I do want to point out - in your blog you complain that they are telling you what to do with your own money. But that is not the case. You can fund your exchange accounts via international wire transfer. But then, it has to actually be your money that you spend. 

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