RE: The WAR on Cryptocurrency Is Heating Up: TODAY Chinese Government Bans ALL ICO's In China. Like The "Land Of The Free" Whats Next? Is This For Our Own Good?
In the long term, it's probably a beneficial thing.
As you state - there are so many shitcoins and scams out there. And as more and more people gain interest in crypto, without ANY regulation, it'd be free reign for a whole bunch more scammers to flock in to take advantage of newbies who don't know shit, and it'd probably end up doing the industry a lot more harm than good.
Yeah, there may be downsides to regulations, undoubtedly. Nonetheless, those who want to play the game are still free to learn the rules - and the hoops to jump through are a sort of character test, requiring players to level up and conduct themselves more professionally - weeding out the masses who just want to become an overnight millionaire with some fad trend and the amateurs who don't have what it takes to lay he solid foundations for long-term success.
More challenges & obstacles = incentive for adaption = constructive evolution.
This may not be the most popular perspective here, but it's at least another worth consideration amidst the many judging regulation...
Thanks for the comment.
Yes I would guess that this viewpoint would not be very common or agreed upon here.
Though I don't argue with any of your points. As you say challenges creative incentive for fine tuning, adapting etc. This is always a good thing.
Ultimately I perceive everything as playing its part of the bigger picture. If there is ever something we don't like we adapt and figure out how to work with in the best way for us.
I am quite sure that governments are not regulating to help or protect people. They are certainly doing it to desperately try and keep control and also pull in extra tax revenues. This I don't like at all however it is what it is and the possible benefit to this is as you say the weeding out of various shit coins.
The biggest problem though right now for chines people and Americans is that now we can't invest in ICO's even if they are good ones because all the ICO's will not be open to Americans or Chinese. So now the countries that are embracing it will have the opportunity to leap forward in progress and profit while we are bogged down with regulations.
Discussion, contemplation and challenge are healthy. Thanks for your input.
Maybe, maybe not. I'm certain neither of us can concrete state the truth is either/or. Matters like these are multi-layered, and it's more likely that there are elements of truth to both perspectives in play.
Re: Chinese & Americans can't invest in ICOs... VPN. Hoops to jump through. But not impossible. You can still buy tokens on an exchange after the ICO, so could keep things down-low and go the VPN during until post-ICO. (At least in the US - not sure about China).
Yes a very intelligent answer as usual. I really like how you always see the spectrum, yin yang, light dark, good bad, ups downs, etc etc =)>
I agree. I would really like to know more about the VPN stuff and how to get into ICO's that don't allow Americans etc. I am really not to techie and only use computers to Steem for the most part hahaha
I would like to learn a lot more of how to utilize the system and tricks to further freedom and success. Hoping I will get a mentor soon. So many people on Steemit that really know about this stuff.
Thanks for your wise contributions to Steemit!
Get a VPN software - tons of them out there, paid and free. Setup and set the country to one other than the US or China. Access site as usual, without being blocked due to IP address.
Pretty much that simple. ;-)
hahaha seriously? What about all these exchanges that require id, addresses or stuff like that plus then the new ico's have to be moved around in order to be traded or used unless one is just buying them to sit on. Which I guess for some is the point.
Depends on the ICO, I guess. Most are direct, prior to tokens hitting exchanges - like EOS' is direct off the website, just blocking US IP addresses. VPN is an easy workaround, and from there, once your tokens are in your Ethereum wallet, you're good to move around between wallets and exchanges as desired.
Or if it's from an exchange, that is typically post-ICO. As per the EOS example again, I don't believe there are any restrictions saying US citizens can't buy tokens on exchanges like Kraken or even through wallets like Exodus - the limitation is only directly through the EOS site to limit their own liability.
Of course, I wouldn't recommend taking this as advice and the standard situation for ALL ICOs, though this is probably the simplest workaround...
Ok so your saying the limitation is on the ICO and once the coin is able to be exchanged then you can exchange it freely on exchanges?
And yes don't worry I am not taking any financial advise. I always think for my self and only hold my self responsible for my actions. Even from someone as wise as you ;-)>
I do appreciate your answers though. So far you have proven to be a very genuine, helpful and intelligent being. I appreciate that.
As far as I know, yes - at least in the US...