More countries to proclaim their positive approach towards cryptocurrencies + Another use case for blockchain
Good morning traders!
Yesterday we had more positive than anticipated news out of the SEC Senate hearing, which stopped the marketwide cryptocurencies freefall.
More and more countries admit, that they are not looking to lock down cryptos completely, rather take a cautious approach and then regulate what is needed, without curbing the wings of progress on the way.
Tharman Shanmugaratnam, Deputy Prime Minister and minister in charge of MAS (Monetary Authority of Singapore / central bank), stated on February 5th, that they will not pursue intervention and harder regulatory measures on cryptocurrencies.
While their attitude towards cryptocurrencies differentiate from their neighbours' views like night and day, the reason for this might also be that the volumes and involvement with cryptocurrencies in Singapore is at a relatively low level. Nevertheless, the statement was clear - authorities will support all innovative uses of blockchain experiments while being vigilant to any risks arising. “We will continue to encourage experiments in the blockchain space that may involve the use of cryptocurrencies, because some of these innnovations could turn out to be economically or socially useful. But equally, we will stay alert to new risks.” Catch the details of his testimony on ccn.com Need proof that blokchain technology is spreading everywhere? Let's look at a use case - Decentralized blockchain auctions. Auctionity is an online blockchain based auction system, that aims to make the auction signup, participaton and finalizing process more easier for the end-user and more transparent for everyone. With data timestamped on the blockchain and every step logged, this will make managing payments, ownerships and security a breeze With various widgets and APIs, websites can integrate Auctionity based auctions into their websites easily. Decentralization will eventually reach every part of our lives and then services like this will not look like anyhting new to us, but now every pioneer in the blockchain technology is welcome. Check out Auctionity's roadmap and many other things on their website at https://www.auctionity.com/ Check out Chainbb, an alternative frontend for STEEM network. If you like forum style, that's the platform for you. Title image from pixabay
Via businessdigit.com
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The way I see it is if you buy a solid coin that is at a 50% discount you have good chances at turning a profit. Diversification is the name of the game.
yes and no, coz of politic view and tax view
in France the president is positive with crypto, but tax on mining is 50% of the coin value considering that it cost you 0 € of electricity....
I don't think that they will ever ban crypto's because of mining, taxes and stuff. They will just try to regulate it so they can get more money out of it
I guess it's all actually is good for the crypto/blockchain world - yes, the people searching for huge profits in a short time might be disappointed as this will most probably make prices more stable with greater adoption and the need for stability in the markets - and it might take some of the revenues with taxes.
but - if it's legal and there isn't a dark shadow looming in the future and threatening to turn the tables - more and more traditional investors will want a portion of this world and money will flow to the markets.
also - revenue will be available to smart ICO's investors as the value of good initiatives can rise overwhelmingly even if regulated, and let's pit it straight forward - the value of steem will surely increase with stability in the markets and increasing interest in the platform, and that's one of the most important things for people here.
Great piece. Governments CANNOT ban cryptocurrencies because many like Zimbabwe see Bitcoin as God sent to save their failing fiat currency, others like Tunisia have moved their national currency to a digital platform and others like Senegal are working on a digital version.
Governments like banks are scared of people power. They are scared of one of their great leverage points - exerting control over people. Since cryptocurrencies represent people freedom and a reclaiming of people control over their most valuable assets, money, it puts governments on the back foot. And since they need people to function, they have no choice but to follow the financial revolution albeit reluctantly, and with calls for some regulation.
Finally, cryptos will meet governments and other bodies somewhere where regulations of some form take shape.
When a country decide to ban bitcoin trading, it will eventually cause more harm than good. it's like trying stopping a flood. Banning cryptocurrency would hurt a country more than it would “help” because this is a brand-new technology and a whole new industry to go along with it.
After all the FUD spread by the media in the lasr weeks we are finally getting some good news.
interesting ... what really matters is what the big players eventually say ... US ... China ... Japan ... Korea
US has already said their mind, check my yesterday's post. SouthKorea is also clear... wrote about tht also a few days ago.
I know what the Senator said, but I think that it remains to be seen what they actually do ... words are cheap, and promises are made easily. But I agree that the hearing a couple days ago was quite bullish ... I just think we have to see how things develop :)
It is the same with the SEC statement from the US yesterday. people are learning that the blockchain is a great path forward. If you cant fight them, join them!
It's interesting to see central banks torn on the topic of crypto. Some want it banned while others see the value of it. I'm cautiously optimistic. Wondering if they understand the implications, because free markets and decentralization are not something that's ultimately healthy to central banking.