Bitcoin vs Regulators?

How about Bitcoin joins regulators and we change the narrative to Bitcoin vs Banks?

Regulations are coming. Actually, they are here. But they will be clarified and enforced. Its time to influence the regulation, not hope it will not come. This can be a good thing for the industry and protect the people its designed to protect. At the moment, the banks rule the day. This is not good for Crypto. Banks have nothing to gain and everything to lose. The Cyrpto community needs a way to stand for protecting people and present a counter argument to the banks.

@arsalan moved.

Very true @arsalan banks have nothing to gain and everything to lose. One of the major concerns when it comes to banking is security, the SWIFT banking network is extremely vulnerable to attacks. Think about the recent attacks that were attributed to the Lazarus group. Funds were stolen by impersonating the bank's SWIFT credentials. On the other hand, it is impossible to impersonate on the blockchain because each user and transaction use unbreakable cryptography. But at least there is some hope because as it is Microsoft and a few other banks are said to have tested blockchain solutions for interbank transfers

Well I don‘t disagree that banks/the government have done shady shit, but there‘s alot more that backs the USD value than just confidence...

I also think that you guys often forget that most people don‘t care at all what they pay with, as long as it‘s easy, practical and cheap.

Banks do have a lot to lose if a significant percentage of their business shifts over to cryptocurrency. So it is in their interest to have something to complain about regarding cryptocurrency. Regulation would take some of that away from them, and I believe that ultimately they won't want it.

Governments have a lot more to lose. Politics and popularity are directly linked to economic performance. National economics is controlled by a variety of levers including interest rates, currency creation, and fractional reserve lending. Of these, both currency creation and fractional reserve lending are not available in cryptocurrency. Which is one of the reasons the public like it so much.

But we really don't need either. The business that the cryptocurrency world should be courting is the organisation SWIFT. We need them to integrate into the banking system. They need to upgrade their messaging system to be based on the blockchain and to interface with other blockchains. The easiest way to achieve that is to make it profitable for them. Do the hard work for them, and hand them a solution that they can charge the banks for, and cryptocurrency will be integrated into the banking system.

Don't waste time with politics or making great arguments. Write bullet-proof code and let money drive the outcome you're after.

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