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A comment on Bitcoin Tumbles as PBOC Declares Initial Coin Offerings Illegal.

Re:Bitcoin Tumbles as PBOC Declares Initial Coin Offerings I... by sna1l on Monday September 04, 2017 @08:18PM (#15171663)
Long term, having some governmental oversight is key to the mainstream success of cryptocurrency.

While this may make the ride bumpier, I'm happy that China has decided to setup some regulation around ICOs, mostly impacting scammers and fraudsters. My only concern is this regulation takes a while to figure out and this kills some momentum.

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Re:Bitcoin Tumbles as PBOC Declares Initial Coin Offerings I... by sbenitoj on Tuesday September 05, 2017 @01:23AM (#15172715)
Governmental control of the monetary system (AKA "oversight") is one of the biggest reasons Bitcoin was invented in the first place. The last thing this world needs is more oversight and control by disconnected bureaucrats with no skin in the game.

Long-term, however, such attempts at regulating cryptocurrency simply make it even MORE decentralized / antifragile as people stop using traditional exchanges (which can be easily regulated) and start using decentralized options such as LocalBitcoins.com (which is all but impossible to regulate).

EDIT: website link

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