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RE: Can currently excalating TRADE WAR be good thing for crypto? I would like to know your opinion.
The current US administration is really taking things too far. If I gets to the point many countries stop using the dollar as their international currency of trade then the dollar will lose value quickly. And people will run to gold or crypto. On the other hand, crypto is also developing and becoming more legitimate and standard. I think in the next 5-10 years perhaps prices won't be so volatile anymore.
We do have to cut down on the scourge of too many cryptos coming out. Seems everyone has an idea for a coin these days.
I agreed with you. I think the launching of new tokens should be cut down. If everyone has a token, who will buy from each other?
You've said exactly my mind @ulqu3 great!
exactly, just yesterday i witnessed 5 new crypto projects being launched and i had that exact thoughts...
but how to cut it down @focygray? by introducing more regulations? that would kill this market.
it's a little bit like saying: we should cut down possibility of opening new business, because 80% companies go down within less than 2 years.
restrictions are not solution. education is :)
Yours
Piotr
This would be cut down if there is are high standards set to attain before anyone can launch an ICO. Not only by having a good roadmap, whitepaper, team social media. But there should be some other standards than this. There should also be a decentralized regulating body of which I think is taking us back to centralized system of things.
@focygray
during dotcom bubble noone was trying to introduce regulations who would "protect investors". If those regulations would be introduced then entire industry would be slowed down by many years. And right now instead of talking about crypto we would maybe reach the point of introducing mobile devices (just 5-10 years later).
I still believe that education and awareness should be priority. Not regulations introduced by unqualified politicians and regulators and bankers.
Yep, that would end up with enourmous corruption.
Thx for your comment buddy :)
Yours, Piotr
You are quite right to point out the fact that there a just tons of cryptos appearing out of thin air. Many tokens promising incredible inovation that never become reality or that only intended to get peoples money will disapear. In the end all those scams are bad for the cryptoworld because people loose trust.
Great comment @achim03
At the end of the day it all comes down to trust, right?
Cheers, Piotr
You are right about that @crypto.piotr, even the best idea or innovation will not get support if there is a doubt about its legitimacy. Especially now that so many scams saw the light of the day...
They are simply doing what other countries have been doing for years. It doesn't mean it is the right thing to do, but blaming only the US is absurd because other countries are doing the same.
The problem is that US has the largest influence on world economy. And it doesnt really matter what is being done by some tiny-tiny countries with very little politic power and small economy.
So I think we have all right to blame US administration for what's coming.
Cheers
Piotr
I didn't mean tiny countries, I meant China. The trade war is with China mostly.
sorry, my misunderstanding
Thank you for your great comment @ulqu3
I agree. We may need few years to reach that point.
Cheers, Piotr