RE: cryptoil: a familiar path to oppression?

All it will take is massive economy collapse and blame placed on cryptocurrency and you will see it rolled in overnight heavy regulations without many putting up the fight that can afford it. That would also be a good time for most of the coins to die out and we just having around 100 or so. There are only around 180 legally recognized currencies in the world depending on which countries you ask.

You can already see we are not better. Look at what some of the exchanges are doing. Places like Coinbase who have been around forever in terms of cryptocurrency world who should have the resources fight appear it just “give in” to regulations and reporting amounts to tax agencies. I would not be surprised if they collect “fees” for being helpful when it comes to dealing with money laundering and other issues. Many exchanges are fully rolling out tax reporting and they will accept more regulations as time comes.

Cryptocurrency market cap is currently less than 400 billion. That is peanuts to the world’s money supply or heck even something like NASDAQ that over 7 trillion. Anyone who wants things to go mainstream needs to understand you’re not getting access to the big money without give and take. The give here is regulations and the take is them buying into the system.

The biggest issue I see is almost everyone it seems keeps saying to themselves “this can’t be regulated.” Some of them will be screaming that to themselves when they are hauled off saying “you can’t do that” as they are caught owning millions in back taxes. Similar regards can be seen for the internet “that can’t be regulated” well we see every day little by little it becomes even more regulated. People are going to jail for what they say online these days in many parts of the world. Something most years ago would say was not possible.

The first step in keeping freedom is realizing it can be taken away. If people can't even accept that there little hope as they won't see a need to "fight." As they will just remain in the mind set of "they can't."