Bitcoin Forum

Many countries are trying to regulate Bitcoin by Government laws.its because of bitcoins revolution spreading worldwide too fast.some countries already starting to build a regulation system for Bitcoin transaction.Everyday lots of new investors are joining with digital currency world and starting to grow their business on crypto world.whats your thinking about bitcoin Regulation system. Is it will be a wise decision and positive for bitcoin future or it will destroy bitcoin bright future.

Regulation is postive for bitcoin and cryptocurrency in general for the long run. Why? Because you still have people that are uncertain if they want to use bitcoin or to even buy it, theres many FUD and talks it is used for dirty things. Regulation will give faith to some people that goverments are giving it the green light and that they are positive on this thing. If we want this to be used at larger scale regulation is a must. Yes of course this is totally oppostie from what bitcoin was made for not to be regulated and even with regulation you can exscape it sometimes if you really wanted to, but it is a necessery step and goverments might do this to simply try to control the situation and not let it get out of control.

Whether we want it or not, it will happen.
States such as the US simply will not allow such an economic phenomenon as bitcoin to exist without their control. :(

If theirs a regulation their will be a tax but when it happen bitcoin will be more acceptable by all transactions will be made and their is no question about the legality by then.

Do you have a choice? When they do it then you will just have to obey or you will lose it all when they find you.

It is not a good thing about those who wants to be free. Regulating it just means they want every bitcoin owner to be listed so that they will have the information to whom they will tax it with.
It is supposed to decentralized. Not something like this. Because of the growth in price, this vampires who will suck all the blood from us keeps on coming.

I don't think it will. The government is discussing the legality of bitcoin. I don't think that will affect bitcoin. I think this is good news for government regulation. It's not bad for bitcoin.

I agree with you, because if the government wants to regulate bitcoin, that was same as the government just wants to get some profit from bitcoin and the user itself,
If the government regulates and implements a tax system in bitcoin, then from every income, from every transaction, the government will benefit a lot from it, Imagine if there are 1 million users who make transactions in one day, how much advantage will be gained by the government. well so far that was what i know

I think regulation will have both benefits and disadvantages. First of all we will have to find a honest and responsible body to look after this task. I think the only people suitable for this are the developers on this platform and they never wanted any regulation at first place. If you start putting regulation on bitcoin prices, the prices will not be this much volatile. But it will also result in prices getting stagnant and we will not be able to see returns like 1000% or more in an year that has happened in the past. My verdict is that there should not be any regulation.

I feel that regulations on crypto currencies are better than banning crypto. There might be some disadvantages when there are regulations such as KYC, taxes and etc. But I will rather do these than having crypto illegal in my country.

Regulating Bitcoin will basically just revolve around making sure that governments get their tax money from it, and most of the time that'll just be whenever there is a transaction that involves a good or a service using Bitcoin, or the direct exchange of fiat for Bitcoin. As long as they're getting their tax money they'll be happy and there's nothing more they will really be intent on doing.

It all comes down to the taxes these days. Just maintain the output and keep having payments come in from the tax base and you'll be golden, speaking from a country's perspective.

I won't agree with you on this because if this would be happening then  the price of Bitcoin would have increased a lot by now or at least would have crossed $15k but that doesn't seem to be the case. In fact BTC is dropping in price day by day. People are selling BTC and other cryptocurrencies which can be noticed if we look at the market cap.

Coming to the regulation part, I believe it should happen, at least for now because this way it will be legal in some countries which will in turn make people believe in BTC and then the price might rise again. BTC's regulation has its own advantages and disadvantages which would require a new topic to be created since it is vast.

I see it as a bad thing . If you think that governments will regulate something that they can not control then you are dreaming . The moment they will regulate crypto be sure that there will be a system to control it .

I am with regulate ICOs but against regulate cryptos .  :D

Which country is regulating Bitcoin transactions, and how are they doing it?

I thought it was just the exchanges ( the Bitcoin banks ) that were being considered for regulation.

The states were to some day begin to regulate the crypto currency. Not to notice its circulation on their territory they can not for a long time. Moreover, bitcoin has such a high cost. The process of regulation is, first of all, the process of recognizing the crypto currency by the state. However, regulation may differ in different countries by its rules. In general, the regulatory process is a positive step for the crypto currency.