Why is there no regulation for shitcoins ?

[onlinemarketer12]

Why doesn't the government do something about it when it is evident that most are scams only ?

 

[iFull]

They'll come up with it soon, don't worry
They will even come up with their own coin and make the regulations in such a way that only their coin will thrive

 

[alurosu]

Blockchains can't be regulated. Anyone can participate and it's mostly anonymous. You can't take it down either. The script / code can be used without a website. People just run it on any computer with internet access.

It's a blessing and a curse. The only solution is education. People should learn where to put the hard earned money.

 

[TheGreyMatter]

Wait, what? Isn't that the whole point of crypto that there's no regulation?

 

[Deleted member 1333509]

Permissionlessness. That's why.

OP you can put code on the Ethereum blockchain today with instructions for creating a nuclear bomb or a list of the 50 top child porn websites. No one, not Vitalik Buterin or Joe Biden, can take it down.

No one wants that shit there, but that's the double edged sword of decentralization that is worth begrudgingly accepting.

 

[HustleTong]

That's why the term 'de-centralized'
So far, the only thing capable of regulating crypto is Elon's tweets

 

[Deleted member 1362253]

Hell it's called crypto for a reason. It's unregulated, decentralized, no ceo, no office. So apparently, it's a scam of the millennium which is still ongoing and will continue for God knows how many more decades to come.

 

[boaboss1]

The no regulations is the base of cryptocurrencies

 

[OlafRustle]

Why doesn't the government do something about it when it is evident that most are scams only ?

Because only babys need mommy to take care of them

 

[bdman]

Greedy people need to punish and this is the reason God sends some shitty people for creating shitcoin and punish them.

It is up to you which one you take milk or alcohol.

 

[WhereLambo]

Cryptos are the wild wild west and we wanna keep it that way. #WhereLambo

 

[Dopious]

If you need regulations, buy shit-stocks instead, like penny-stocks. You can not have both regulation and de-centralized coins in the same time.

 

[Deleted member 1333509]

Greedy people need to punish and this is the reason God sends some shitty people for creating shitcoin and punish them.

It is up to you which one you take milk or alcohol.

God created shitcoins?

 

[bdman]

God created shitcoins?

Did I say it?

 

[kabopon]

The whole point of crypto is no regulation..

 

[Deleted member 1333509]

Did I say it?

Answering a question with another question - I see you've played knifey-spoony before. Pro move.

 

[Dopious]

God created shitcoins?

Yes, God is the almighty of shitcoins and everything else*

*sarcasm

Ps. I´m a Atheist (fact - not a discussion subject)

 

[Gogol]

Why doesn't the government do something about it when it is evident that most are scams only ?

Regulate what? Once a SC has been written in the blockchain, it is written. It's nothing but a so called "class" that defines what methods are available for that contract, and what data is stored. That's not where the "scam" is.

Please hear me out, although I might be wrong with the "terms".

The problem is when people get too greedy and invest in shit that can never survive. Suppose you buy 100 coins of 100quadrillion available coins, where 80% of the coins belong to one single wallet. If you lose your money after that, it's only you who should be blamed.

I have seen even weirder shit when it comes to safemoon clones. Some of the clone owners do not even know how to enable the liquify function. So, your money goes in and never comes out.

Yet, I see lots of people promoting such coins here. I tried calling them bullshit, and got tagged as the "newbie" LOL. At that moment I thought, fck it.. I do not care.

If you want to not get scammed, stop buying from those swap sites atleast. Plus, DYOR always.

 

[Makanake]

They'll come up with it soon, don't worry
They will even come up with their own coin and make the regulations in such a way that only their coin will thrive

indeed, and not because regular people are getting scammed ( we are living in a corporatist era, the mortals are just consumers ) they are going to to do something sooner or later because of the tax evasion for example,.As soon as it goes much more mainstream , cryptocurrency will reach faster Sauron's eye.And if Sauron takes a decision , it doesnt matter if Blockchains can't be regulated,or you can't take it down, if the script / code can be used without a website and bla bla bla, the reason because crypto still exists is because Sauron still wants it and not because its crypted.Maybe ppl like Elon are his servants
P.S 5 , just my opinion

 

[Chris Newman]

Decentralization is at the heart of blockchain’s value proposition. In a decentralized blockchain network, no one has to know or trust anyone else. And that is the best part of decentralized blockchain.
Whether the decentralized blockchain OR our brick & mortar world, there will always be good players & bad players, no matter whether there is any regulation or not. The decentralized blockchain defi has opened up wonderful, amazing opportunities for entrepreneurs to raise finance without the cumbersome traditional banking systems.
You need to do your due diligence before you invest your money anywhere. Gone are the days when you have to expect governments to "regulate" something.
The world is changing and even big banks, big insurance companies are gradually embracing blockchain technology. We need to change our mindset accordingly and understand the decentralization is the future, till then our mindset will be stuck on thinking that governments need to "regulate" things. Wait ... Who will regulate the government ? Well, that is why forward thinking people are embracing the decentralized world of blockchain technology.