just figure i share thoughts on crypto world, it sure has changed in last 6 years, where it used to be the free market and we could do as we please, with trades, buying and selling crypto
Cryptoindustry has undergone changes and it was inevitable. This is the course of natural things. There used to be a free world of the
wild west with its pros and cons. Do you remember how many scam projects there were and how many unsuccessful investors lost because of this? Sometimes freedom is tantamount to permissiveness, the consequences of which are unpleasant.
now its so different now
as the governments in the world have gotten involved and trying to make it harder in crypto
as in if you need to trade out to fiat ,
It was only a matter of time before regulators appeared in the industry and they want to control everything, just like in any other areas of activity. In part, they are powerless in the world of cryptocurrencies until you start moving your assets into the real (traditional) financial sector.
u have to pay taxes and lots of it
Governments are cracking down on exchanges and regulations etc.
in one way it does prove crypto has value and here to stay
There is more adoption going on. Slowly but it is happening,.
Taxes and KYC will become new components in the cryptosphere.
Regulation means recognition and acceptance by governments, which means that currencies will not disappear.
Do you think all this will make people to drop out of crypto and leave it to the people who have high wealth only?
I would say that, for example, bitcoin (whole) will become a privilege not only of the rich, but perhaps only of corporations.
Or will the average person still stay in the markets?
but its too bad that the powers that be are making it difficult
ur thoughts?
The share of the average person will be insignificant (ownership of satoshi, not whole bitcoin).