[OPINION] A lot of discussion about regulations and what could happen next
Over the last weeks and even months, central governments discussed the future of Bitcoin and other cryptocurrencies and how regulations will take place. According to mainstream media, the future of cryptocurrency is doomed. Pretty funny, because we all know this is not realistic and not even possible because of the decentralised nature of cryptocurrency (remember the core value of the blockchain you naysayers;-).
So, governments are looking for ways to make investments safer and more traceable, instead of completely banning them.
But, first, let's take a look at the topics that caused this discussion.
The Main Reason - Bitcoin December price moved a lot of new money into the market
As we all know, Bitcoin exploded back in December. This moved a lot of new money into the market. New people discussed their investments during the holidays and this created an even bigger hype. Governments already knew about all the money in cryptoś, but this was quite extreme. Media overhyped Bitcoin and more people invested. Until the huge January crash came in. New money freaked out, sold and lost their hands to strong hands. The worst scenario that happend was BitConnect, that burned over 97% of it's value. For governments the perfect time to tell their citizens how dangerous cryptocurrencies are.
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Money laundry via the Blockchain
Around the world, annualy, people don´t pay taxes over 4.5 trillion USD. This, so called, black money, is a pain in the ass for governments. Besides that, black money is mostly earned because of criminal activities. And, ironically, Governments are now suggesting that the blockchain (or how governments say it: ´Bitcoin') are the perfect way to launder money.
We think that is pretty crazy, because the blockchain is an open ledger and better traceable than cash-money. Of course, criminals use the blockchain and make transactions, but they also do that with cash.
Well known coins for criminal activities are privacy coins such as Monero and DASH. These tokens are more anonymous than all other coins. However, this also can be nuanced because the money is not ´clean' when it comes from a blockchain. Of course, criminals can say they invested some money back in the days but that is easy to counter if someone is being investigated.
So, when a criminal likes to buy expensive things such as houses with black money, the IRS still will find out.
The risk to the banking system
Banks are threatened by the blockchain because it makes them unnecessary. And as we all know, banks are very important to governments and countries because they basically manage money-flows. When all people around the world decide to stop using fiat, banks, and governments lose control over money.
Our opinion on all debates
It is a pity that everybody freaks out when they read an article about regulations. All people that are freaking out and sell their holdings are giving media a reason to write negative about Bitcoin.
So, we hope that all weak hands are washed out of the cryptomarket, because they are really not helpfull in developing a sustainable market. Because of that, we are pro-regulations and love clear information. Good rules and information will protect people from doing stupid investments. If the huge risks are washed out the market, big investors will find their way to cryptocurrency. And as we already said a thousand times before, this brings a lot of (important) liquidity to the market.
We do not think that governments will ban Bitcoin or cryptocurrencies, because that is not possible in the free world. We believe that governments are going to streamline regulations for ICO'ś, obligate exchanges to have legal information about customers and come with ratings like they already do with stocks.
2018 will be the best year for cryptocurrency!
The privacy hot-topic gets a lot of attention, we see a possitive trend towards privacy coins. Do you know to like which coin is the best investment right now? Become a Premium Member and read our Fundamental Reports on privacy coins!
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