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RE: My thoughts on government regulations and cryptocurrency

in #crypto7 years ago

When the lending platforms go down and you got people saying it’s because the govt doesn’t want poor people to come up and they are jealous. Wtf? They are ponzi, and it’s just a matter of time till the people at the end lose out, so the faster they stop them the better. Davor Coin went down in like 2 months which is bad for the people that lost money, but it saved a whole lot more people that would have lost out. Also, these lending platforms are horrible for the whole cryptocurrency market. You have people new to crypto watching a bunch of videos to learn and half of them are pushing some affiliate link, they invest, company exit scams, the people lose their money and leave the space. We need some level of govt regulation to protect the newcomers. The sec meeting was a huge positive step forward and good to see we have some senators that are on board and actually know about the different currencies like Mark Warner did.

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Every great opportunity to make money is always accompanied by scammers - the parasites on the whales backside. The gold rush has massive scams thrown in there and it's the same with crypto. Scams are EVERYWHERE you can think to make money. That is why you should research for yourself until you are sure what you are going to do - if you're not sure, research some more. Don't make hasty decisions. But if someone can't figure this out for themselves, then nothing I say will make any difference.