Tomorrow the G20 Meets to Discuss Crypto, Will This Meeting Wreck Crypto?
Very Few People are Optimistic About the G20 Meetings.
Being the contrarian that I am I believe that the meetings will end up being very positive for crypto. The G20 does not want to lose control over money so they will try to implement controls. We knew this was coming so I am surprised that everyone is freaking out.
Things I Expect from the G20 Meetings and Other Government Meetings Regarding Crypto Regulations.
1. Centralized Exchanges Will Require Strict Forms of KYC (Know Your Customer).
2. Exchanges Will Have to Report to Government Agencies.
3. There Will Be Some Safeguards Put in Place for Users of These Exchanges. (Insurance)
4. Users Will Be Expected to Keep Their Crypto in Wallets That They Do Not Hold the Keys.
5. Strict Regulation of ICO's.
These Types of Rules are Meant to Protect the Everyday User.
Myself and other Crypto-Anarchists frown upon these types of rules. In the end it will be great for the Crypto market but will cause a ton of FUD in the meantime. So be prepared as Bitcoin and the rest of the Crypto markets goes through a down period.
I also thinks that G20 bring some positive news and hope that crypto correction will over after that.
"First they ignore you, then they laugh at you, then they fight you, and then you win"
Looks like we are entering the "fight" phase...
The most damaging has to be the private keys, correct? None of us trust anyone without private keys.
Yes, I believe they are coming for our private keys. It would be the easiest way to control the users. It is truly scary and goes against everything Crypto was meant to protect.
I think this is an important reason that people need to band together to educate the people getting into crypto now. There are too many people just trying to push their coin agenda but we need to work together on user safety for the benefit of everyone
That's what I'm thinking too @hilarski
Exactly, it's terrifying. We all see how no company or agency can keep data safe, nor should they be trusted. We should start making bumper stickers: "You can have my private key when you pry it from my cold dead hands."
This is just terrifying! I really hope it doesn't come to that!
I agree. Many people are relying on institutional money. That is what the stock and bond markets are for. This is financial freedom for individuals and a way to not have to rely on institutional money or centralized planner. People don't realize the freedom that BTC offers and the capabilities of being our "own bank"
Fortunately, the are a day late and a dollar short.
All these "rulings" will do is push more people into cryptos.
Any regulation will make cryptos seem more legit.
While the crypto-community moves to atomic swaps and distributed exchanges.
After ignoring cryptos for so long, it is in their worst interest to do anything about them. "Strike me down... i will only become stronger than you can imagine"
Click the Image Below
It might be a sell the rumor, buy the news. Bitcoin a great buy at $6000 where buy orders are waiting...wait for price to break the trend line, than buy on a pull back for a long term investment.
$6000 would be an amazing buy. If BTC gets that low, I don't think it will stay there very low. Plenty of buyers would gobble that price right up.
My plan is to accumulate as much as I can, bear markets are always a great opportunity to search deeply into the projects I believe in. As concerns regulations...with a bit of knowledge on how to safely manage private keys by yourself, you simply don't need a third party, so I wonder what they are planning to do to control the space.
If exchanges will have to know their customers, then decentralized exchanges will thrive! Also localbitcoin in person transactions maybe! Maybe even steemit, since if people can't buy they will just earn! Or maybe buy votes with credit card(it might be a loophole imo)! No one smart would let them have their private keys!
So I fucking dare them! They can't do shit to stop us lol
Yes, this G20 meeting could just nail the bottom/turn with final flush down in next few days or maybe weeks.
Anyone happens to know, what is current price/cost of producing BTC? This could also offer some floor.
They can have my private keys at the same time they take my guns, after they kill me.
Governments don't like it when people can thrive without them. It hurts their poor feelings.