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TL;DR
The founding father of Blockstream, Adam Again just lately acknowledged: “As soon as an trade shuts down or stops servicing one market, folks will simply transfer to a different trade,”
Translation: eliminating crypto exchanges is like enjoying a recreation of Wack-A-Mole – when one closes, one other will discover a work-around and fill the hole out there.
So whereas decentralized cryptocurrencies could be slowed by regulatory pressures – they cannot really be stopped.
Wherein case, governments could as effectively put regulatory measures in place that nurture blockchain (serving to the economic system), and weed out the unhealthy actors (defending customers).
Full Story
Should you’re within the US and nervous that quickly there will not be any crypto exchanges left so that you can convert money into crypto and vice versa, effectively…
The founding father of Blockstream, Adam Again (who some imagine to be Satoshi Nakamoto), has some calming phrases for you:
“As soon as an trade shuts down or stops servicing one market, folks will simply transfer to a different trade, or transfer to a global trade.”
Translation: eliminating crypto exchanges is like enjoying a recreation of Wack-A-Mole – when one closes, one other will discover a work-around and fill the hole out there, as a result of there are huge financial incentives to take action.
And that is our guess as to why the US crypto group are mad, but additionally type of calm about this entire ‘crypto crackdown’ factor…
They’re calm as a result of, whereas decentralized cryptocurrencies could be slowed by regulatory pressures – they cannot really be stopped.
(There is not any singular ‘kill change’ in decentralized programs).
…however they’re additionally mad – as a result of if blockchain cannot be stopped, why not put regulatory measures in place that nurture the trade (serving to the economic system), whereas hunting down the unhealthy actors (defending customers)?
The takeaway:
Getting authorities companies to align with/embrace the immutable financial drive of blockchain might be going to take a minute.
So we would have to make use of some persistence.
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