Viewing a response to: @the-bitcoin-dood/regulators-need-to-regulate-but-they-re-doing-it-wrong
All these developed world economies are clearly not interested in doing any framework to ease the job for cryptos to replace them. Think about it, will you help your competition ? Smart contracts, DAO and all these emerging decentralized technologies surfacing right now will soon make regulators obsolete because there is no territorial jurisdiction for these technologies. They can operate like when you do a torrent file transfer, all peer to peer obeying the rule of the software that runs them. Fortunately, we are seeing the very last stages of regulation by just a handful of so called powerful countries. The fact that they haven't been able to craft any meaningful framework to regulate crypto activity is evidence that the genie is out of the bottle the same way Covid19 was able to escape from a chinese lab that was financed by these same western institutions. Had they wanted to stop crypto in general, they should have done it with the first centralized exchanges that made people convert crypto to fiat, but even if they had done it at that time, they couldn't have avoided it, just delayed it. But as incompetent as they are with the taxes we pay, they are also incompetent at controlling any good or adverse technology from developing in the future.
| author | algoquant |
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| author | beerlover |
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| permlink | re-algoquant-re-the-bitcoin-dood-r6p5ti-20220202t234105754z |
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> Smart contracts, DAO and all these emerging decentralized technologies surfacing right now will soon make regulators obsolete because there is no territorial jurisdiction for these technologies. They can operate like when you do a torrent file transfer, all peer to peer obeying the rule of the software that runs them. That is a great point. They probably don't even know where to start. Not to mention, this technology changes and develops quickly. DEX, DAO, NFT, and it seems we're just getting started. > The fact that they haven't been able to craft any meaningful framework to regulate crypto activity is evidence that the genie is out of the bottle I think so too. They had plenty of time to try and stop this and they looked the other way. Again, they probably don't even know where to begin. LOL > they are also incompetent at controlling any good or adverse technology from developing in the future. Lets hope so. I think things develop much more smoothly without their involvement. The sad fact is, we want mass adoption and with that come regulations and government meddling. Thanks for the awesome comment! !BEER Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@the-bitcoin-dood/re-algoquant-3uaffd)
| author | the-bitcoin-dood |
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