Very Few People are Optimistic About the G20 Meetings.
Being the contrarian that I am I believe that the meetings will end up being very positive for crypto. The G20 does not want to lose control over money so they will try to implement controls. We knew this was coming so I am surprised that everyone is freaking out.
Things I Expect from the G20 Meetings and Other Government Meetings Regarding Crypto Regulations.
1. Centralized Exchanges Will Require Strict Forms of KYC (Know Your Customer).
2. Exchanges Will Have to Report to Government Agencies.
3. There Will Be Some Safeguards Put in Place for Users of These Exchanges. (Insurance)
4. Users Will Be Expected to Keep Their Crypto in Wallets That They Do Not Hold the Keys.
5. Strict Regulation of ICO's.
These Types of Rules are Meant to Protect the Everyday User.
Myself and other Crypto-Anarchists frown upon these types of rules. In the end it will be great for the Crypto market but will cause a ton of FUD in the meantime. So be prepared as Bitcoin and the rest of the Crypto markets goes through a down period.
I also thinks that G20 bring some positive news and hope that crypto correction will over after that.
"First they ignore you, then they laugh at you, then they fight you, and then you win"
Looks like we are entering the "fight" phase...
The most damaging has to be the private keys, correct? None of us trust anyone without private keys.
Yes, I believe they are coming for our private keys. It would be the easiest way to control the users. It is truly scary and goes against everything Crypto was meant to protect.
I think this is an important reason that people need to band together to educate the people getting into crypto now. There are too many people just trying to push their coin agenda but we need to work together on user safety for the benefit of everyone
That's what I'm thinking too @hilarski
Exactly, it's terrifying. We all see how no company or agency can keep data safe, nor should they be trusted. We should start making bumper stickers: "You can have my private key when you pry it from my cold dead hands."
This is just terrifying! I really hope it doesn't come to that!
I agree. Many people are relying on institutional money. That is what the stock and bond markets are for. This is financial freedom for individuals and a way to not have to rely on institutional money or centralized planner. People don't realize the freedom that BTC offers and the capabilities of being our "own bank"
Fortunately, the are a day late and a dollar short.
All these "rulings" will do is push more people into cryptos.
Any regulation will make cryptos seem more legit.
While the crypto-community moves to atomic swaps and distributed exchanges.
After ignoring cryptos for so long, it is in their worst interest to do anything about them. "Strike me down... i will only become stronger than you can imagine"
Click the Image Below
It might be a sell the rumor, buy the news. Bitcoin a great buy at $6000 where buy orders are waiting...wait for price to break the trend line, than buy on a pull back for a long term investment.
$6000 would be an amazing buy. If BTC gets that low, I don't think it will stay there very low. Plenty of buyers would gobble that price right up.
My plan is to accumulate as much as I can, bear markets are always a great opportunity to search deeply into the projects I believe in. As concerns regulations...with a bit of knowledge on how to safely manage private keys by yourself, you simply don't need a third party, so I wonder what they are planning to do to control the space.
Yes, this G20 meeting could just nail the bottom/turn with final flush down in next few days or maybe weeks.
Anyone happens to know, what is current price/cost of producing BTC? This could also offer some floor.
They can have my private keys at the same time they take my guns, after they kill me.
Governments don't like it when people can thrive without them. It hurts their poor feelings.
If exchanges will have to know their customers, then decentralized exchanges will thrive! Also localbitcoin in person transactions maybe! Maybe even steemit, since if people can't buy they will just earn! Or maybe buy votes with credit card(it might be a loophole imo)! No one smart would let them have their private keys!
So I fucking dare them! They can't do shit to stop us lol
hope for the best
Hope they will do the right thing and will agree that crypto is the future and will give their power to move it to the next level
yeah like removing cash from circulation ((
It might be a long time before cash is actually obsolete. The technology has not even been fully adopted yet and it's rare to see spending in bitcoin. It was a thing for a while, but unpredictably high fees and high volatility kind of ruined it. People buy bitcoin to store money and as a high risk investment option. Removing cash now would be chaotic.
Bitcoin is literally shaking the pants of all governments and the banks all around the world... no matter how they try... they can't stop what's coming.. even if they succeed in screwing up the exchanges.. they can't stop people from using the crypto currencies... everyone will start trading of Bitcoin for goods....G20..G80... whatever,..no one can stop decentralisation......
What is this G20 and how could they impose such a rules? Aren't we living in a democratic world? Why do we have to obey some rules that these people impose to us?
Nice try, but the world has not been that way since we lived in caves.
Hahaha,tell him the brutal truth!
This democracy thing is just put to please masses,but there is a group of folks that rule the world!
Well they will fail because they can't take the keys. It would be completely unenforceable.
Man I don't know under which rock you been living but "Democracy" is as dead as it ever was. Wake up brother!
Your comment makes me sad...
Randy, I am glad you brought this up today. This meeting has obviously got the market in panic mode. The was same market behavior we saw early Feb. (recent lows) when the SEC had meeting. I expect to market to bounce as meeting takes place. There's whales using FUD to manipulate prices down cheap. I expect strict regulations for Crypto exchanges to be announced. The Government will do all they can to strictly regulate fiat gateways. This is in their jurisdiction. ICOs will con't to expand at a rapidly pace but strict KYC/AML enforced. US Investors already banned from most ICOs so that want change ICO demand. As clear regulation comes into Crypto so will the Institutional money that we have all been waiting on. I see the regulation as positive sign, not negative. Next year we could easy be looking at $2-$3 Trillion Crypto market cap. As you know these Institutions have billions of dollars and almost none of them have any Bitcoin nor Crypto. With these platform tokens like ETH, NEO, EOS, ADA all it will take is a killer dapp to emerge for prices to skyrocket. I see these platforms like the next Google but much bigger. 1000's of dapps are currently being built out on these platforms. I could not be more bullish for next 8 months.
I agree with a lot of what you're saying in terms of institutional adaption. But BTC was originally created as a way to break the chains from centralization and bring sound, honest money for the internet with no boundaries and no central authority controlling it. If we go down this path of regulation, we are giving up our potential freedom from the chains of centralization and oligarchs.
I think @hedge-x is saying that the stage is set and i agree that good regulation, if implemented properly, could be a good thing by cutting down the U in FUD. As @pbgreenpoint points out, the path of regulation may sound contrary to the spirit of crypto but good regulation can be considered a "cost of doing business" which is not enough to depress coin prices.
good post nice..........
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Hopefully, something positive will come out and the Steem prices will go up.
I don't think we will have a rebound for a few months. It is time to accumulate as the negativity gets flushed from the market.
vary vary nice ........ post
I appreciate you stopping by Tony!
Good morning @hilarski, I think that if the G20 takes advantage of cryptocurrencies is because, the cryptocurrencies will continue running, I'm sure of this.
Happy day.
The Market already pricing this event in.
@hilarski
Dip buyers are getting ready to buy chunks of crypto.
HODL all the way.
Cryptoapocalypse isn't going to be tomorrow. Chill
Let us just hope for the best,i hope they justcimplement strict KYC and also be strict on ICOs...The Facebook and Google Ad bans are also good as they willl weed out fake cryptos from great ones like Steemit.
Whatever the outcome it should be better than now. I think uncertainty is killing it.
There's no way a govt can control provate keys if you dont want them to. Hardware wallets are the most obvious, but there are also plenty of web wallets out there that do not store private keys.
As for exchanges, I feel people will gradually start moving to DEXs. The writing is on the wall, with Bitfinex already having created Ethfinex, a hybrid-DEX, and Binance soon to be following suit.
More and more DEXs are popping up (https://github.com/distribuyed/index), and what is most exciting are the protocols behind them: 0x, Swap, Aurora/Snowglobe, etc.
India has to learn a lot from the world about cryptos. Indian gov is making it difficult to use it for any business purposes.
Daily Learn some new from your post. Love to read it.
Great stoy and good writing.i like your post and upvoted.
enjoy read thus post. that is a good staff.
I also love good content, so I'm waiting for posts from you with impatience!
En nombre de dios saldran cosas mu buenas de esta reunion amigo, gracias por tu apoyo. y debemos asistir y ser positivos.
well its really nice and good stuff @hilarski
hey @hilarski
thanks for update wonderful activity and excellent steeming
Regulation is good.
Only for the sheeple.
good post
nice one
thanks your your information of crypto
I don't think that this will be something that will be to our benefit. It's not as if we can have something that the cabal does not control.
These silk-suited maggots would tax and regulate the proverbial "streets of gold" if they could... 😂 😂 😂
What do you mean? Who will own the keys?
Well thanks for the heads up will be prepared for the downtrend ar any other bloodbath as we speak of !
The market really began to grow in mid-August last year. I do not expect big movements for several months. I'm thinking of buying now.
Wow! Number 4 sounds terrible!! Do you think they'll go that far? how will this be enforced! I really hope this is not the case!
What could be more down than this. Every altcoin is already back to their original prices. I mean the pre November Prices. All the gains made in December and Jan are Null now.
Hopefully everything will be good and the market will show a positive side after a very long
I agree. The regulations and the aggressive actions of agencies like the SEC are part of the mainstreaming process. The upset it's causing has made for a bear market inside a long-term bull market whose driver is mainstreamization.
I'm on record as saying that 2018 will be the new 2014. If so, we'll be laughing about how panicky and pessimistic we were. :)
To misquote Nietzsche:
The drive for regulation is the mainstream gazing into us.
Been looking forward to this meeting for weeks now, I'm not gonna jump to conclusions but I am excited to see what they decide.
Agree with your analysis.
this will decide the future of crypto fingers crossed
Can you clarify what you mean by this:
"4. Users Will Be Expected to Keep Their Crypto in Wallets That They Do Not Hold the Keys."
Think i know but could be wrong ...
I'm interested to see what the impact will be on me, as a fairly small time user of crypto... Regardless of g20, changes are coming... There's no doubt about that. Will we simply find ways around the regulations as they're implemented? It sound like a difficult task if they want to regulate the whole internet/world.... That's been in the works for a while
The no.4 is pretty damn scary. Rest is pretty sure to happen. Thanks Randy!
Every wall they manage to put up we will climb over or go under. It's kind of fun to watch them squirm. Life is Good
Many people I've talked to recently said the same thing to me..."Crypto is doomed to fail" all unrelated people but said the exact same thing? who coined this phrase?
I have a FUD Video to share with you: Please watch this Video and get back to me I would like your opinion.
Dude makes 100K but claims he lost 100K, What a Joke except it was watched over 400K times and he has over 500K Subscribers!
Cheers
F the private keys regulation. That's certainly one of the big advantages of having cryptocurrencies to begin with.
Great way to exchange. Very useful post . Thanks @htooms
Okay. That makes no sense @william58
This was not my post, fix your bot
Better idea. Turn it off.