Well, current state of regulations, in my opinion, hurts majority of normal people, benefiting only a few
Did you miss last 3 years somehow?
I think Dash needs some changes
- Thread starter kot
- Start date
Did you miss last 3 years somehow?
qwizzie
Well-known member
Depends on where you live. In Europe there has been much more clarity lately with regards to regulation and KYC, then for example the US.
It did result in exchanges operating in Europe now starting to ask their users a few questions, to get to know them better as customer.
I have no problem with that.
I just find it interesting that some of the answers they are now receiving from their users can very well be affected by their users operating in either a bear market or in a bull market, as that changes their behaviour / investment strategy. For example people tend to do a lot more fiat to crypto trading in a bear market and a lot more crypto to fiat trading in a bull market.
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Can I recommend one book for you to read? (no affiliate links). This is not some kind of anarchist book, more like a journey of how we got to where we are now.
The Master Switch by Tim Wu
Regulation is probably not what you think it is. Being "clever" or "smart" can be used against you by both scammers and regulators alike.
You basically make an assumption that the majority of people - or at least enough people - are dumb enough to get scammed. For that, perhaps you are a) insulting their intelligence, that they need to be mothered and kept dumb, and b) that perhaps you are viewing this from the wrong angle, that perhaps the best help you can give is to actually help others think more critically and be free to make their own mistakes. Once bitten, twice shy.
Do you believe the newly activated Travel Rule in europe is for better or worse?
Do you believe regulators should deny access to "privacy coins" when the KYC establishes who is actually on the end of the transaction?
qwizzie
Well-known member
See https://www.prosegur.com/en/innovat...a-regulation-travel-rule-change-use-of-crypto
Both are part of a legal framework that will be applied throughout the EU end of 2024 / Jan 2025.
What exactly is MiCa and the Travel Rule :
The travel rule extends regulation from just financial transactions to financial transactions & crypto transactions.
Since crypto transactions are often intermixed with financial transactions (fiat to crypto and vica versa) that was bound to happen.
MiCa does not mention anything about privacy coins or privacy-enhanced assets, so MiCa can not be used to force exchanges operating in the EU to deny the listing of privacy coins. We also know exchanges can fully comply with the travel rule regarding Dash (see https://www.dash.org/news/dash-complies-with-the-financial-action-task-force/), so i do not see a problem there either.
Only those crypto assets that exchanges can not use the travel rule on, will have a problem. This will most likely also apply to exchanges where there is little to no KYC policy in place.
It will be interesting to see how MiCa regulation and the travel rule deals with decentralized exchanges when it comes into effect.
But once MiCa and the travel rule become active, i think it will be very difficult for central exchanges operating in the EU to not have any KYC policy in place.
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It is interesting how quickly minds of normal people have been infected with a thought that any government should have anything to do with their money and what transactions do they make or don't.
Everything for "safety". Laughable.
Let me just remind you that we are in the middle of (probably) the biggest money laundering operation of our times.
PS. Since this matter has anything to do with changes necessary in Dash, I propose to move this discussion elsewhere.
Everything for "safety". Laughable.
Let me just remind you that we are in the middle of (probably) the biggest money laundering operation of our times.
PS. Since this matter has anything to do with changes necessary in Dash, I propose to move this discussion elsewhere.
I made a slight mistake, it is the UK that now enforces the Travel Rule. By November, UK customers will be unable to trade XMR. Not quite the same as the EU but I see no reason at all why they couldn't follow suit.
cointelegraph.com
Whether it's KYC or regulation, it can not be trusted to bankers and governments. Imo it's no different than some people here trying to say dash is not a security. The idea is the same; to say dash is not a security is to ask for permission, that we are good boys and worthy of entry to a whitelist. No, we should not ask permission, we should cling on to dear life that dash remain permission-less, we do not seek blessings from bankers and politicians.
Kraken to delist Monero for UK customers by the end of November
Despite intense scrutiny from exchanges and government bodies alike, the popularity of privacy coins remains high.
cointelegraph.com
Whether it's KYC or regulation, it can not be trusted to bankers and governments. Imo it's no different than some people here trying to say dash is not a security. The idea is the same; to say dash is not a security is to ask for permission, that we are good boys and worthy of entry to a whitelist. No, we should not ask permission, we should cling on to dear life that dash remain permission-less, we do not seek blessings from bankers and politicians.
I know what you mean but maybe this "off-topic" thing really is about the kind of changes dash needs to make i.e. should try reversing policy and go to the "dark side". For years, many here were guided by the likes of Ryan Taylor to seek compliance and approval, only to see how fruitless it was. Meanwhile, litecoin remains a top 20 coin even though it has MimbleWimble active in the desktop wallet. We also see Polygon has it's Chain Development Kit for things like ZKPs. But how and why could this happen and yet remain seemingly unaffected? - I suspect because the hardcore OG humpback voters were basically wrong all the while and their stubbornness has lead us to this sad state of affairs.
Let's be realistic - Dash has troubles because of the broken promises.
Nothing about the "dark side" or the "light side" is going to change that. This is just your sympathy for the "dark side".
It's true, but not just broken promises, more like, so much energy and dependence on those promises that little else was seriously worked on. All those eggs in one basket and I've always said this is a dangerous position to take. To this day that position remains, Evo or nothing.
Not just coin privacy, you know I have long asked for drastic changes to governance. This DAO was always held up as this beautiful self-funding "we don't need anyone else's money" thing. CLEARLY this thinking was wrong and further layoffs will surely come soon enough.
I do have a passion for privacy coins because I believe money must be fast, easy, social and fungible. There is nothing fast about dash's coin mixing, it's dated AF. I get that transparency gives us guarantees of coin supply, but this gap in proof of supply is much smaller than it used to be i.e. there are other ways to keep the supply in check without revealing every detail of every transaction.
If you look at ZKPs and, in particular, Pedersen Commitments, there is a test that a balance going up on one side also goes down on the side i.e. they cancel each other out (plus a simple check to exclude negative numbers). There are other block abnormalities that can be monitored e.g. production frequency. And critically, many of these ZKPs allow for purchase receipts and view keys, so there is a path to compliance. This is not an issue of secrecy but rather an effective way to contain who sees what and when instead of just hanging up your laundry for all to see.
It is not an assumption, but my OTC trading experience with over 10000 customers. So many man-in-the-middle attack and other scammed people or stolen accounts. On internet no one knows someone is real unless proven by KYC means. It takes only one smart scammer and hundreds of scammed people to make one trading day extremely busy
On the other hand, all my friends around me, only one guy invested in crypto, and surprisingly, he prefer to buy some fictional bitcoin trust in a government regulated exchange, for tax and reporting issues
Vote is for politicians, I never vote, since the influence you get in a vote only works at very small scale, maximum 5 guys maybe. Beyond that, politics taking over, we have witnessed that in BTC blocksize debate
I ony vote with my foot, running for those coins with a better roadmap
I just read some Vitalik's speech in Singapore, something about "proof of innocence", that you could prove that the coin you spend is not from an illegal source. This will be a good point for privacy. Actually many of the regulation practices already exist in crypto community, like trace and mark hacked coin and blacklist certain address etc.. I guess in future some AI would act as such regulator, using smart contract to execute
So, this is the thing, in a democratic country, in law you are supposed to be "innocent until proven guilty". But this is not how the world operates, there is a different kind of law called "code is law" and in many cases you are effectively a suspect, a person of suspicion.
Code is law can not be managed by central government. The role of a politician is to have problems to solve and guilty before innocent is the excuse for their recurring paychecks. This game of cat and mouse has existed since the big bang itself.
qwizzie
Well-known member
Maybe this is the solution with regards to the not-filled CEO position for DCG : https://www.extremetech.com/computing/humanoid-robot-ceo-is-on-247-doesnt-get-weekends-off
One humanoid robot to rule them all.
One that does not need weekends off.
One humanoid robot to rule them all.
One that does not need weekends off.
vazaki3
Well-known member
I heard that Thorswap is used often by privacy preserving users to cut the trace of their transaction, but dash is not on their list, would someone talk to Thorchain devs?
Previously we thought cross-chain is a fake demand, but it seems with the rise of dex, it has become another method to stop the traceability. Since on the same chain you would receive the exchanged coin at the same address, that does not work
Previously we thought cross-chain is a fake demand, but it seems with the rise of dex, it has become another method to stop the traceability. Since on the same chain you would receive the exchanged coin at the same address, that does not work
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You can swap dash from Thor Wallet, though the rates are really bad.
Dans
Active member
I accept your point of view, but I don't share it.
Successes and failures are usually associated with a person or group. In the case of Dash, I cannot blame the mistakes on the previous director of DCG, but rather on those who supported him and accepted his proposals.
Dash was in decline during Ryan's reign, and knew how to jump off a sinking ship. Regardless of whether he was still on board, we would be the same, or worse.The changes that are proposed to improve something must start from an idea, and that idea can be from a single person or from an entire community.Sitting around waiting for the price of Dash to return to $1,600 is a utopia, and I'm telling you it's not going to happen.
When it happened in the past, Dash had a very interesting project on the table: Cheap and instant payments, an ROI through master nodes, the possibility of private sending... all this was revolutionary 8 or 9 years ago, but not today It is nothing compared to what other projects offer.I want fast payments?... well I use USDT with tron for example at a very low cost, I want an ROI, well I use aave, compound, uniswap... I want hidden payments, well monero...There is nothing right now that can lead Dash to make a difference.
Do we have a DEX to exchange our Dash for dollars, or BTC without third parties?
Can we store large amounts of data in a decentralized way?
Do we have influence groups on the networks talking about dash?
Do we have a decentralized social network running on a second layer?
Dozens of projects happen to us in the capitalization market for one reason, and that reason is: ILLUSIONThere is no illusion here, and without illusion, there is no motivation.Bring the platform once and for all and show if the illusion can return, if not, let's accept that this was a boom and a bust for which we are all partly to blame, regardless of the fact that Ryan, from my point of view, did not know how to manage the project in the moment when he had the most possibility of resources.
Greetings and health.