Crypto market is growing every year and more and more money is invested into Cryptos. Crypto market cap grew from 1 Billion USD in 2013. to 385 Billion USD at moment of writing with peak in Jan 2018. of almost 800 Billion USD.
More money at market attract more people and while there is many people who understand and support Cryptos, there is also lot of people that are against it. More money also attracts interest of media and that is why we hear everyday different opinions from many people.
Some of them like Tim Draper are Hyping Cryptos while we hear some FUD from many old school investors like Warren Buffett who doesn't believe in Cryptos, that are saying that Bitcoin is worst scam in history or some other bullshit.
Of course that I think different but I can't say that I don't understand them. Almost all people who are trashing Bitcoin are older and they have problem to understand technology behind cryptos and importance of it. If we add on that that there is almost NO REGULATION at Crypto market, I really understand why they don't believe in Cryptos.
For me, CRYPTO REGULATION IS KEY FOR MAINSTREAM ADOPTION OF CRYPTOS.
This is slowly happening and more and more countries are setting some rules. I know that lot of people don't like that but that is great for Crypto world in my opinion. You have to pay tax on everything in your life and while you can like that or not, these are the rules.
I say that regulation is great for Crypto world because I am sure that there is lot of people that don't have anything to hide and they are waiting for regulation to invest. I have many friends around the world who are invested at stock market and they would invest in Cryptos but they are waiting for regulation because they don't want to mess with unregulated things.
Things are slowly going into that direction and now almost all exchanges have implemented KYC. Detailed KYC is usually obligation if you wanna trade larger amount of cryptos or if you wanna cash out and take fiat money. For smaller trades most of exchanges don't do KYC but that will change also in future. Coinbase has huge amount of users and when you wanna use it you will get this:
Because of that, people who want to stay anonymous will use DEX. Decentralized exchanges are very important because there is many reasons for some people to stay anonymous. From DEX will be very hard to cash out in fiat money but still you will have your wealth in your coins. Beside DEX, there are Privacy coins like Monero and Zcash for them. I am sure that Bitcoin will also have some full privacy option in the future.
Privacy is important because it gives you freedom and independency. Julian Assange couldn't fight for his cause without cryptocurrency support. Many regimes around world forbid use of Cryptos because they know that they can't control it. Even some countries like Venezuela made its own Crypto to fight sanctions against them.
That is beauty and future of Cryptos in my opinion. If you wanna be fully transparent you will have that and if you wanna have privacy, you will have that also!
I would like to know your opinion about regulation, do you support it or not?
Regards,
