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Title: 2013-05-08 New Statesman - To Regulate Or Not To Regulate? Post by: kiko on May 08, 2013, 05:17:29 PM http://www.newstatesman.com/business/2013/05/bitcoin-%E2%80%93-regulate-or-not-regulate (http://www.newstatesman.com/business/2013/05/bitcoin-%E2%80%93-regulate-or-not-regulate)
No new info, just an opinion piece on the absurdity of attempting to regulate a decentralised database. Quote With new regulatory scrutiny, proponents of the virtual currency might find themselves hard-pressed to maintain Bitcoins’ independence from the financial authorities. But I can’t help but ask, are these latest moves by the American authorities, too little too late? hat tip r/bitcoin. Title: Re: 2013-05-08 New Statesman - To Regulate Or Not To Regulate? Post by: cypherdoc on May 08, 2013, 07:35:45 PM the cat is out of the bag, Bart.
Title: Re: 2013-05-08 New Statesman - To Regulate Or Not To Regulate? Post by: kjlimo on May 09, 2013, 12:24:13 AM the regulation will help traditional businesses get on board as well as remove confusion on how it works.
regulation will be a good thing. and the people worried about it are probably the people who won't follow it anyway, so why would they care??? Title: Re: 2013-05-08 New Statesman - To Regulate Or Not To Regulate? Post by: kiba on May 09, 2013, 12:27:42 AM the regulation will help traditional businesses get on board as well as remove confusion on how it works. regulation will be a good thing. There's regulation that's good, and there's regulation that's absolutely a killer. Title: Re: 2013-05-08 New Statesman - To Regulate Or Not To Regulate? Post by: Tirapon on May 09, 2013, 12:28:04 AM Quote In March, the world’s first Bitcoin ATM was opened on Cyprus after banks had been closed for a week. The ATM allows customers to deposit “real money” into a Bitcoin ATM in exchange for bitcoins and vice versa – making the virtual currency, a very real option for those who didn’t have access to money during the Cypriot crisis. Huh ??? Title: Re: 2013-05-08 New Statesman - To Regulate Or Not To Regulate? Post by: MoonShadow on May 09, 2013, 12:33:40 AM It's too late to regulate. The Bitcoin network is too big to suppress, the protocol is regulation resistant by design, and a large portion of the userbase would actively resist attempts by any government to annex bitcoin.
The only bitcoin users who are going to submit to regulations are the corporations that labor under such regimes already. The common user will actively evade regulations whenever possible. The common man already does so whenever he can using cash and barter transactions. Have you ever heard of anyone paying taxes on a yard sale? And the taxman hates the farmers' markets. Bitcoin makes such evasions commonplace, almost trivial in nature. Evasion of regulations and taxes within the bitcoin userbase will be more common than not. Title: Re: 2013-05-08 New Statesman - To Regulate Or Not To Regulate? Post by: MoonShadow on May 09, 2013, 12:37:01 AM Quote In March, the world’s first Bitcoin ATM was opened on Cyprus after banks had been closed for a week. The ATM allows customers to deposit “real money” into a Bitcoin ATM in exchange for bitcoins and vice versa – making the virtual currency, a very real option for those who didn’t have access to money during the Cypriot crisis. Huh ??? That's the most accurate part of the article. |