Quote from: Abiky on November 23, 2022, 09:43:25 PM

The collapse of a major crypto exchange, has once again taken the world by storm. There is a lot of FUD being spread by mainstream media, making people believe this is the final chapter for crypto/Blockchain tech. Now, US lawmakers are pushing towards stricter regulations with the excuse of helping protect investors' interests. Other countries could follow the US, greatly stifling the growth of the industry. I'm beginning to wonder whenever the collapse of FTX would be good or bad for crypto in the long run? This looks like another Mt. Gox situation, so it's likely things will be better in the long run after the dust settles. But I'm not so sure, especially when governments are now seeing crypto as a threat to the existence of Fiat (something they didn't think about when crypto was in its early years).

What are your thoughts? Your input will be greatly appreciated. Thank you very much.

Any unfavorable event that the cryptocurrency market survive is always good in the long run. That said, having errors and survive it makes the market stronger. People will learn from the mistakes and will have knowledgeable in the next event. If ever you heard the song "doesn't kill you makes you stronger", I believe that also applies to the cryptocurrency market. Past mistakes can be patch up by new method that solve the problem that lead to that mistakes.

So having the government thinking of regulating the cryptocurrency market may bring a bad taste to crypto enthusiasts because they are used to having freedom and not regulated but for a long run, having an ecosystem that is free from scams and fraud will boost confidence to the market, enabling people who are hesitant to join the crypto wagon will gladly jump and propalgate in the crypto industry.

Quote from: Abiky on Today at 09:29:53 PM

It's very bad in the sense that regulations will become tougher than ever. This will introduce a number of obstacles between exchanges and customers themselves. While this should make crypto more "legitimate", it greatly defeats its original purpose of being middleman-free (which in turn gives you financial freedom). I can't imagine how centralized the crypto industry will become in the future as governments continue to exert pressure against it. We've seen how most altcoins turned themselves to PoS, due to "environmental concerns". With this and ever-tightening regulations, crypto would become no different than traditional banking.

On the other note, tough regulation means a safer venture for investors. Admit it or not, when the rule is loose, many fraud and scams sprout to exploit unsuspecting investors.

Quote from: Abiky on Today at 09:29:53 PM

At least, crypto market prices won't stay down for long. Long-term speaking, people will forget all about the FTX collapse and the Terra implosion, just like it happened with Mt. Gox back then. No one knows what the future holds for crypto/Blockchain tech so we can only hope for the best. Just my thoughts Grin

I agree, the market is capable of correcting itself. The market will recover once the FUD brought by the fiasco of LUNA and FTX is pacified.