Bracing for Regulation

@pjcomposer made an insightful observation . He pointed out that Goldman Sachs purchased a cryptocurrency exchange platform called Poloniex. Goldman Sachs has a long history of working with regulators to create regulations that appear to favor large central banks over the people at large.

As a member of the people at large I've starting thinking about how the crypto community should prepare for the onslaught of regulation.

The first observation is that people who want to keep crypto unregulated need to concentrate on creating things that benefit people at large. Such products will make regulations unpopular.

Conversely, products that just benefit a core group of insiders will feed the call for regulation.

My second observation is that developers should take this period before the onslaught of regulation to develop a diversity of products.

The more diverse the space, the harder the space is to regulate.

The big banks are working with regulators to create "regulated" electronic currencies which favor the big banks over the people. As we play with steemit, we need to be seeking ways to defend the market from the regulators.