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July 28, 2014, 10:19:39 PM |
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Interesting subject.
But full of common places and not actually pointing to anything that will present any kind of workable solutions, I think:
So regulation is bad, inevitable, but bad. Why? Well, because regulation has been a failure that only helps the rich get richer while the poor gets poorer. True indeed -in one context- but not necessarily i ALL contexts: Regulation has also saved millions of jobs, hundreds of thousands of companies and, as of today, in the US, protects then poor's balances up to $100,000. Lets not forget the positives either. And, if we extend that to the IMF or the EUF, we know also that several countries have been financially saved in the recent and not so recent past, from Mexico and Argentina to several EU associates. So there's a lot tpo be said in favor of regulation, once we take a closer look and, above all, escape the common places that seem to work only with ignorants. truth is that without quantitative easing and the Corporate bail out, the US would be a bankrupt country financially, living if a decade-or-more great depression and a society in which violence and crime would be rampant. Put the avoidance of that also on the has column on REGULATION.
But, since we, in crypto, are so smart and have everything so easily figured out, why not taking a look at the non-regulation crypto alternative? Ok, we have this wonderful -and almost free-technology that allows, among many other things, worldwide transactions almost instantly and practically free. And, to go with it, a "starting anew" monetary system where inflation will be almost controlled -not really- and a new worldwide denomination currency to go with it... only problem is, without regulation, it is like banks with doors open and no guards inside or police that will stop thieves to come and get it as many times as they want and with guarantee of non-prosecution even if they are caught. It's been called the "Wild West" by some romantics but it is not even remotely close to the lawless West: in order to assault the mining payrolls and the mail and bank physical transfers, the bandits had to show balls of steel, risk their lives and definitely facing the ruthless bounty hunters even when successful, while our crypto bandits get to brag about their thievery hidden, if they so choose, under anonymous handles.
So, fact is that, if you are against regulation, you are supporting these bandits all the way. There's no middle ground. It's either or. And no, the "they deserve it" 'argument' doesn't fly AND YOU KNOW IT.
It's time for the technology -and currency- to serve the people, not the bandits. Welcome regulation, even if it is already quite late. Regulation, for lack of a better word, is indeed GOOD.
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