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For those who don't know there have been a prelimanary vote on enforcing KYC on self hosted wallets. Basically they want to cut off any bridge between FIAT and non-KYC Crypto.
Freedoom is going down the drain fast and while i may rejoice in seeing a bright future for utopia, the future is grim for the people.
What i want to propose that the team may consider is a P2P marketplace with the escrow system. I know its a big undertaking, but givin people a way to bridge cryptos to the real world, and MAYBE also INSIDE the Utopia app could be a really nice thing.
I'm not saying now, its just an idea/reminder for the team to consider.
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good idea. It would be nice to see something like this.
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I'm afraid there is a strong need for a lack of centralization. The world needs nothing. They only care about lawsuits and speculative profits.
I fear that the market Utopia created will be extremely small because of the tendency to create tokens on a centralized basis.
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And the main Western market has no demand for it. They have not yet received the problems of blocking their accounts on exchanges and even cold wallets, which the Russians have experienced recently, and probably will continue to receive the stumps of their crypto-financial opportunities for a long time.
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And the main Western market has no demand for it. They have not yet received the problems of blocking their accounts on exchanges and even cold wallets, which the Russians have experienced recently, and probably will continue to receive the stumps of their crypto-financial opportunities for a long time.
True, the demand is far from there. Still talking about utopia to people both young and old usually sparks some interest especially due to the decentralized nature and anonimity.
Adoption and digestion is slow as always and even more so in this case, myself included it went by almost 8 month between hearing about utopia and creating an account and starting to mine. And i am somewhat tech savvy, but many non tech people hearing about utopia asked me about it.
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Governments can only think about what becomes too big. Utopia is still too small to be visible to them. They are also busy enough with political warfare to decide on cryptocurrencies. On the other hand, there is internal pressure from investors in many countries not to regulate them aggressively. In the end I think the current status quo will be maintained.
I am a software developer in C/C++ and Python
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True, the demand is far from there. Still talking about utopia to people both young and old usually sparks some interest especially due to the decentralized nature and anonimity.
Adoption and digestion is slow as always and even more so in this case, myself included it went by almost 8 month between hearing about utopia and creating an account and starting to mine. And i am somewhat tech savvy, but many non tech people hearing about utopia asked me about it.
Well, what if we use this scenario:
What if Utopia gets lit up somewhere in totalitarian countries, like Turkmenistan, and people there are actually actively using it and there are rudiments of resistance, and if the special services in Turkmenistan want to find where they are profiled and then find it and outlaw the thing. The question is, wouldn't that serve as a warning signal to the more serious authoritarian countries?
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I don't think they are doing this in the favour of the people, I think it's a personal opinion that everyone should have if they want to give out their KYC details to any one
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I don't think they are doing this in the favour of the people, I think it's a personal opinion that everyone should have if they want to give out their KYC details to any one
It seems to me that many organizations have no right to require KYC including crypto exchanges that do not interact in any way jurisdictions with all countries.
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that is a good idea, we can buy crp directly
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great. i like it
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For those who don't know there have been a prelimanary vote on enforcing KYC on self hosted wallets. Basically they want to cut off any bridge between FIAT and non-KYC Crypto.
Freedoom is going down the drain fast and while i may rejoice in seeing a bright future for utopia, the future is grim for the people.
What i want to propose that the team may consider is a P2P marketplace with the escrow system. I know its a big undertaking, but givin people a way to bridge cryptos to the real world, and MAYBE also INSIDE the Utopia app could be a really nice thing.
I'm not saying now, its just an idea/reminder for the team to consider.
The creation of a P2P marketplace by the Utopia p2p team will be a reasonable decision because after the issue of FTX happened the Feds, SEC and other government agencies are talking about the regulation of the crypto market and if this happened a lot of anonymous crypto enthusiast will need the use of the total anonymous decentralized marketplace.
Having said that, I once read that the Utopia p2p team is working on the NFT marketplace and no KYC launchpad but I wonder why we don't hear anything about it anymore.
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The EU regulations is always a serious concern in my own opinion but think we on the Utopia p2p ecosystem are safe, Utopia p2p is a decentralized project and I don’t think it’s affected seriously by external regulations and so far I have not been hindered in anyway on Utopia p2p marketplace
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I don't know of I have been getting it wrong Utopia p2p market place doesn't require any form of KYC, but as we know there are regions against that, so in essence does regulations actually affect Utopia p2p marketplace?
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The EU regulations is always a serious concern in my own opinion but think we on the Utopia p2p ecosystem are safe, Utopia p2p is a decentralized project and I don’t think it’s affected seriously by external regulations and so far I have not been hindered in anyway on Utopia p2p marketplace
Yes but it is not a matter of thinking because the purpose of the creation of the Utopia p2p ecosystem is to provide a safe haven for people who are privacy anonymous and example is when Monero was experiencing delisting from exchange Utopia p2p added it to their Crypton exchange so that anonymous enthusiast can trade their Monero.
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CrytoCynthia;2099 wrote:The EU regulations is always a serious concern in my own opinion but think we on the Utopia p2p ecosystem are safe, Utopia p2p is a decentralized project and I don’t think it’s affected seriously by external regulations and so far I have not been hindered in anyway on Utopia p2p marketplace
Yes but it is not a matter of thinking because the purpose of the creation of the Utopia p2p ecosystem is to provide a safe haven for people who are privacy anonymous and example is when Monero was experiencing delisting from exchange Utopia p2p added it to their Crypton exchange so that anonymous enthusiast can trade their Monero.
Yea Monero is a great example, I my self experienced it, I hardly could find any exchange that listed Monero without any form of KYC, well Utopia p2p is very much unmatched in terms of privacy protection.
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Privacy and decentralization are the backbone of the UTOPIA project, the moment they integrate an escrow system in P2P trade, it no longer is decentralized but centralized. I know the suggestion is as a result of regulation, but the governement have been threatening regulation for a long time, but there are still thriving decentralized markets. UTOPIA do not have to bend in how they do things, there are other ways to take in regulation without bending on the core protocol or algorithm of a project or ecosystem.
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Privacy and decentralization are the backbone of the UTOPIA project, the moment they integrate an escrow system in P2P trade, it no longer is decentralized but centralized. I know the suggestion is as a result of regulation, but the governement have been threatening regulation for a long time, but there are still thriving decentralized markets. UTOPIA do not have to bend in how they do things, there are other ways to take in regulation without bending on the core protocol or algorithm of a project or ecosystem.
I doubt if Utopia would ever even think about an escrow, Utopia p2p prides itself as a decentralized ecosystem and they have to place for a third party and an escrow is a third party so I don't see how this works.
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I doubt if Utopia would ever even think about an escrow, Utopia p2p prides itself as a decentralized ecosystem and they have to place for a third party and an escrow is a third party so I don't see how this works.
I don’t see how it would work too, unless they want to change their modus operandi, which looks like an impossibility if you ask me, the thing is that centralized exchanges may be more in the network, but there are decentralized exchanges and services too, the government cannot shut them, they may add a bit of regulation, but decentralized services must remain along with the practices that actually makes them decentralized. Do no panic about EU proposed regulations or anything of that sort, this isn’t the first time we’ve heard things like that.
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Lanistergame2;2342 wrote:I doubt if Utopia would ever even think about an escrow, Utopia p2p prides itself as a decentralized ecosystem and they have to place for a third party and an escrow is a third party so I don't see how this works.
I don’t see how it would work too, unless they want to change their modus operandi, which looks like an impossibility if you ask me, the thing is that centralized exchanges may be more in the network, but there are decentralized exchanges and services too, the government cannot shut them, they may add a bit of regulation, but decentralized services must remain along with the practices that actually makes them decentralized. Do no panic about EU proposed regulations or anything of that sort, this isn’t the first time we’ve heard things like that.
Well this might not be the first time the EU is talking about regulations, but there are possibilities it may come to effect, so it’s better to be safe than sorry. So if you are on Utopia p2p ecosystem you would not be too worried about any thing concerning regulations.
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Privacy and decentralization are the backbone of the UTOPIA project, the moment they integrate an escrow system in P2P trade, it no longer is decentralized but centralized. I know the suggestion is as a result of regulation, but the governement have been threatening regulation for a long time, but there are still thriving decentralized markets. UTOPIA do not have to bend in how they do things, there are other ways to take in regulation without bending on the core protocol or algorithm of a project or ecosystem.
Yes, if an escrow is used in a decentralized ecosystem maybe consider it centralized that's only if a privacy transaction is not involved.
After about 7 issues that happened in the cryptocurrency market this year, the government may take a huge step next year toward the regulation you said its never thrive.
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Yes, if an escrow is used in a decentralized ecosystem maybe consider it centralized that's only if a privacy transaction is not involved.
After about 7 issues that happened in the cryptocurrency market this year, the government may take a huge step next year toward the regulation you said its never thrive.
Centralized exchanges work with the escrow system, one in which the exchange holds the custody of the funds in order to complete the deal, as far as i know decentralized exchanges do not work like that. And i also do not understand what you mean by if “privacy transaction is not involved”, please explain. The issues you said happened this year all happened to centralized services, like ftx, luna, celicius, voyager and the others, don’t you think the government should focus on regulating centralized services and not those that are decentralized.
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Comrade;2417 wrote:Yes, if an escrow is used in a decentralized ecosystem maybe consider it centralized that's only if a privacy transaction is not involved.
After about 7 issues that happened in the cryptocurrency market this year, the government may take a huge step next year toward the regulation you said its never thrive.Centralized exchanges work with the escrow system, one in which the exchange holds the custody of the funds in order to complete the deal, as far as i know decentralized exchanges do not work like that. And i also do not understand what you mean by if “privacy transaction is not involved”, please explain. The issues you said happened this year all happened to centralized services, like ftx, luna, celicius, voyager and the others, don’t you think the government should focus on regulating centralized services and not those that are decentralized.
I hate any discussion about centralized exchange, let's go down in history most of the exchange that got scammed, crashed and left many users heart broken, I think the biggest bad eggs in cryptocurrency lately is the centralized system
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Detroit;2430 wrote:Comrade;2417 wrote:Yes, if an escrow is used in a decentralized ecosystem maybe consider it centralized that's only if a privacy transaction is not involved.
After about 7 issues that happened in the cryptocurrency market this year, the government may take a huge step next year toward the regulation you said its never thrive.Centralized exchanges work with the escrow system, one in which the exchange holds the custody of the funds in order to complete the deal, as far as i know decentralized exchanges do not work like that. And i also do not understand what you mean by if “privacy transaction is not involved”, please explain. The issues you said happened this year all happened to centralized services, like ftx, luna, celicius, voyager and the others, don’t you think the government should focus on regulating centralized services and not those that are decentralized.
I hate any discussion about centralized exchange, let's go down in history most of the exchange that got scammed, crashed and left many users heart broken, I think the biggest bad eggs in cryptocurrency lately is the centralized system
Yes, in the history of cryptocurrency exchange hacked centralized exchanges are the cause of it because their main focus is adding more money to their purse while the Decentralized exchange is created for the love of the technology.
I think it is time people have to wake up to the reality of this and choose DEX over CEX.
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The p2p market seem to be the most sort after market because of the regulation faced from using Centralized exchange. I think the best and most secured option in the p2p market is Utopia p2p.
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