This is an extremely tough question. Without regulation designed to maintain stability, Bitcoin and others will be limited to a consumer base of speculators and traders. Regular people won't enter the market unless it is safeguarded and stable. But the attraction to Bitcoin and others is the freedom offered as a result of a relatively unregulated environment- the market dictates the direction.
With regulation comes less anonymity and opens the door for other ramifications that currently impact traditional currency markets.
Omg, those currencies...
joelfriedman68, we need more people like you on this channel.
Btw. you can find out about yourself at this terminal, I found you based on what the machine thinks I like about you, haha.
"Without regulation designed to maintain stability, Bitcoin and others will be limited to a consumer base of speculators and traders"
This is absolutely false.
Ok maybe I am the exception, but I am going to refrain from moving a significant amount of the income that I use to purchase goods and services into a currency whose value can be turned upside down overnight. Until I see consistent performance, I will just dip my toe in the market.
But I am new at this and my attitude may change as I gain more experience.
Yes. That is exactly the dilemma.
I think there's a compromise to be had. Bitcoin, as the major currency, gets some regulation which I agree it needs. But there's always room for really edgy, fully anonymous / "un-taxable" cryptos... The government will try and catch the people who use them, so it'll be a game of cat and mouse. I don't intend to get involved in such things - but I understand why hardcore crypto-anarchists would want to do so.