Mandatory Registry For Bitcoin And Crypto

[TonyTigre]

@Reply Guy,
You are confusing the blockchain technologies with cryptocurrencies and the platforms used for trading cryptocurrencies. Based on your previous analogy, the government is not proposing to regulate the internet, it is asking the porn sites to register with them. Others can continue to build other things using the internet, just like they can continue to build applications using blockchains without being affected by that regulation.

 

[TonyTigre]

@lunar,
Please don't put words in my mouth. I never said cryptocurrencies have no value or benefits, just like I never said porn has no value or benefits to society. They both are obviously valued and beneficial to some people.
In fact, while I had some grammatical errors in my post, it should be understood that I specifically said "some would argue that cryptocurrencies can bring benefits to society similar to how porn can bring benefit to society."

 

[Reply Guy]

@Reply Guy,
You are confusing the blockchain technologies with cryptocurrencies and the platforms used for trading cryptocurrencies. Based on your previous analogy, the government is not proposing to regulate the internet, it is asking the porn sites to register with them. Others can continue to build other things using the internet, just like they can continue to build applications using blockchains without being affected by that regulation.

These regulations don't just target the cryptocurrency exchanges.

If you're a validator on the network, your activities will become illegal since cryptocurrency will declared a security.

Many of the blockchains have foundations that help seed development of applications. They would have to register with the CNV.

If you build an application, most which require tokens in order to decentralize the application, that team would have to register with the CNV.

 

[TonyTigre]

@Reply Guy,
Even if all cryptocurrencies are banned by every country in the world, companies will continue to build applications using blockchains. If a company chooses to also be involved in cryptocurrencies, that's their choice, and they must follow the rules that regular them. Blockchain is the game changer and its fate is not link to cryptocurrencies.

 

[elhombresinnombre]

It's odd to see a self described "anarcho-capitalist" pushing to raise income taxes, after he voted to abolish them for people making less than a rather hefty amount (for Argentina), saying taxation is theft, and now saying they all owe for the last quarter of 2023, keeping export taxes, currency controls, and now stepping into the crypto world, wanting to clamp down on this commodity as well by declaring Bitcoin to be a security. This is a version of Libertarianism not yet seen in the world. If Argentina gets any more liberty it will give North Korea a run for its money.

You seem surprised that Milei doesn't appear to following the course that you expected. Remember,Milei is an avowed admirer of the late Carlos Menem. Menem campaigned for the presidency on a whole range of imaginative policies which inspired the masses to vote for him. More or less his first major speech after assuming office went along the lines of "Manifesto promises? I only said that stuff to get you to vote for me."

Sound familiar?

 

[Reply Guy]

@Reply Guy,
Even if all cryptocurrencies are banned by every country in the world, companies will continue to build applications using blockchains. If a company chooses to also be involved in cryptocurrencies, that's their choice, and they must follow the rules that regular them. Blockchain is the game changer and its fate is not link to cryptocurrencies.

The fate is linked to the tokens or else there will be no economic incentive to validate and secure the networks.

 

[Ruta Otto]

You seem surprised that Milei doesn't appear to following the course that you expected. Remember,Milei is an avowed admirer of the late Carlos Menem. Menem campaigned for the presidency on a whole range of imaginative policies which inspired the masses to vote for him. More or less his first major speech after assuming office went along the lines of "Manifesto promises? I only said that stuff to get you to vote for me."

Sound familiar?

Surprise and irony are two different animals. And yes, it all sounds much too familiar, and, I fear, with much the same ending as the other dude with the weird hair. A few will get very rich, some will do well for a short while, most will do worse, and in the end it will all come crashing down on everyone. Rinse and repeat.

 

[Ries]

technology has nothing to do with the billions and billions of dollars "investors" have lost to crypto. The blockchain itself is tech. It is not responsible for any of the good old fashioned incompetency, theft, fraud, swindling, tax evasion, and Glengarry Glen Ross antics of criminals like SBF, or Do Kwan, or the outright lying about how they were actually doing business of many many crypto companies. 10 billion here, 40 billion there, pretty soon you are talking about real money.
The problems are structural- "investing" in crypto is gambling, and its basically a ponzi scheme where the payoffs to the early investors comes from the later suckers.
NO assets back any of this stuff, as much as the stable coin guys tried to convince you that there were.
Its musical chairs.
I never lost a dime using the internet, cell phones, my cnc machines, my cvt transmission, my heat pump, all the various computers I have owned since 1984, or any other tech I have owned.
Never had a problem using my phone to deposit checks, or transfering money from bank accounts online, or paying my bills with auto pay. My electric meter in the states is read by a utility truck driving by remotely.
All of which were "new" technologies, just like blockchain.
The difference is that they are regulated by governments, are located in first world countries where they have courts and laws- whereas the crypto industry, much like the illegal streaming sites or porn sites, are mysteriously in tax havens with no extradition treaties.

And the web3 site, every single week, lists thefts and scams and bankruptcies that are only applicable to crypto, due to both the gullibility of its customers, and the intentional lack of real security of its non-country specific design.
read it and weep.
Really, if you are considering anything more than a direct transfer using bitcoin, You owe yourself a glance- https://www.web3isgoinggreat.com/
Prisma was hacked this week for 11 million. My banks, both here and in the states, are miraculously lucky I guess, cause that doesnt happen to either.

 

[lunar]

The difference is that they are regulated by governments, are located in first world countries where they have courts and laws- whereas the crypto industry, much like the illegal streaming sites or porn sites, are mysteriously in tax havens with no extradition treaties.

This is not true. Coinbase, for example, is registered and fully licensed to operate in the United States. It is up to you which company you choose to deal with.

And the web3 site, every single week, lists thefts and scams and bankruptcies that are only applicable to crypto, due to both the gullibility of its customers, and the intentional lack of real security of its non-country specific design.

The security of the main cryptocurrency networks, such as Bitcoin and Ethereum, is at least on par with that of traditional banking systems. However, unlike banks, these networks lack an arbitration and refund system for retrieving funds in cases of fraud or mistakes. This is by design. The philosophy behind these networks values independence from government control, which inherently means not relying on governmental judicial systems for dispute resolution.

 

[Ries]

This is not true. Coinbase, for example, is registered and fully licensed to operate in the United States. It is up to you which company you choose to deal with.


The security of the main cryptocurrency networks, such as Bitcoin and Ethereum, is at least on par with that of traditional banking systems. However, unlike banks, these networks lack an arbitration and refund system for retrieving funds in cases of fraud or mistakes. This is by design. The philosophy behind these networks values independence from government control, which inherently means not relying on governmental judicial systems for dispute resolution.

how can you say something is "on a par" when its customers get swindled and hacked regularly, and there is no recourse? I once had someone steal a check I wrote from my mailbox, change the amount, and cash it. My bank covered the entire amount, and free of charge changed my account to a new account for security reasons. Does Ethereum do that?

sorry, but the chance of losing your money with crypto is much much more than with a normal bank.
And within Argentina, bank transfers from my phone are instant and free. Whats the handling charge if I buy a new frio/calor at fravega by buying bitcoin, then selling it again? Assuming Fravega took bitcoin, which, of course, they dont.