Regulations Not Working?
Do you think it is true, that right now with the governments, banks “powers that be” in attempt to Gain control of BTC and other cryptos.
They are trying to put into regulations etc. Yet there are troubles to making the cryptos as “securities”
With all the lawsuits “they “ try to put onto the crypto companies. Has not worked in the “favour” of the powers that be?
Is this true?
Does this prove that the blockchain tech is a success?
That BTC could work as a money system for the people and help people to devalue FIAT currency?
Or am I wrong and the “powers that be” are winning and people will lose in the crypto world?
Your thoughts?
[/quote]
I don't know that anyone would have ever tried to define bitcoin as a security, as it clearly passes the howey test. And since we are in bitcoin section, i won't be talking about government's successful swings against various altcoins. But they have succeeded well with banning mixers. And while people might still use those in the future, it will become more and more problematic as they need to prove the origin of the money in the future, otherwise CEXes will freeze their assets, or at least banks their fiat, if it's related to cryptos with unknown sources.
Blockchain tech in many ways is a success, but as long as we need FIAT money i don't think it's as resilient for political pressure as we thought. But just the fact that people want to use them, forces their leaders to adapt, and at least not totally ban them, because those are their future voters they are dealing with.
And what an earth you are talking about with devaluing FIAT currencies? That doesn't make any sense.