Quote from: pakhitheboss on April 26, 2020, 07:43:48 AM

Quote from: Crypto_Towelie on April 23, 2020, 11:26:40 AM

Hi all!

Am I the only one who feels the current Bitcoin/Crypto climate is going to shit? When I got into Bitcoin in 2013, this was the true new wild west so to speak. So what happend in the last 5-6 years?

Governments are trying to take back control with regulations and taxes.
Exchanges requiring ID (KYC) etc. (hahahahaha fail)
Developers are requested to make themselves public
Previously rather unknown people. but with success in crypto, are for some reason seen as some sort of "Messiah" (binance dev for example)
etc.
etc.
etc.

So why the hell.... Do we (community) go along with all that crap?

And IMHO, if you are happy with the current climate, you should not be in crypto at all!

Or have I smoked one too many? This is not what Satoshi wanted/meant when he created Bitcoin right?

Have a good one,
Towelie

In my country every local exchange wants you to first to through KYC if you want to trade or liquidate into local fiat. That is basically the reverse of what cryptocurrency is meant for.

Developers are requested to make themselves public because of so many scams happened in the past. Now, if they need investment into their projects they need to reveal their identity or create a project better than those which already exists.I support that too as it helps investors to gain trust.

Other than that everything else is a bunch of crap.

The main reason is that people try to cheat the system. For example many people started using exchanges for money laundering business and therefore there was no option but to make KYC mandatory. Decentralization is important and beneficial but at the same time some people exploit it for their own benefit.