Ninjastic
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Board Altcoin Discussion
Re: Will governments prohibit developers from creating a new coin?
by
Ozero
on 28/08/2021, 12:34:09 UTC
Quote from: Abiky on August 26, 2021, 04:12:37 PM
Quote from: wxa7115 on August 17, 2021, 09:00:04 PM
And even the regulation they can enforce to this market is very low, after all they can regulate centralized exchanges to try to see how much money you are moving and to see how much profits you are actually getting but what are they going to do once decentralized exchanges become incredibly popular and you can trade with other people without being forced to go through KYC policies?

The only thing we need is for another visionary to create a great DEX and then disappear and the financial control they were hoping to achieve will be a thing of the past and the regulations they wanted to pass to regulate this market will be left with nothing to regulate.

Governments' efforts against crypto/Blockchain tech will be in vain, especially when decentralized solutions are in play. The only thing they can do is regulate centralized exchanges. Prosecuting developers will only be possible if their identities are exposed to the public. But the same cannot be said about anonymous developers like Satoshi Nakamoto himself. Imagine if developers decide to anonymously launch a new project. It'll be a nightmare for governments and central banks alike.

Crypto is now a force to reckon with, making a full ban largely impossible. Decentralization is what makes crypto resist government interference. If it wasn't by that, it would've been easy to take down the whole industry. New coins will continue to emerge over time because of the decentralized and open source nature of crypto/Blockchain tech. It's something unavoidable so we should learn to live with them for a long time. Just my thoughts Grin
The capabilities of states and their bodies should not be underestimated. They have a lot of opportunities to influence the development, state and future of decentralized cryptocurrency. In recent years, cryptocurrency has been developing rapidly and the number of its supporters is growing. The positions of high-ranking officials in our civilized society are, as a rule, elective. They have to take into account their rating and take actions that would not allow it to fall if they want to continue to remain in power. If the cryptocurrency finds strong support in the community, such officials will not act against the wishes of the public. Apparently, this is already deterring government agencies from taking radical measures against the cryptocurrency. In addition, it cannot be said that cryptocurrency is unprofitable for officials of different ranks. After all, they are also people with the same weaknesses and also do not mind hiding part of their unreported profit in cryptocurrency.
Therefore, the cryptocurrency has a chance to gain a foothold in this society, despite their conflicting influence on society and the elite that governs it. The regulation of cryptocurrency will increase, but I don't think it will come to drastic measures.