Bitcoin Forum

People are in a bit of a panic at the moment, talking about regulations and bans on crypto, perhaps they don't understand all of the information coming out about the G20 or they simply don't read and just assume.

So far, the talks coming from European countries, Japan, the IMF and the likes are all on the same page, it's a positive technology that needs soft regulation so it can grow and develop, they've even stated a ban would be the worst outcome to this and no one is pushing such an agenda, from my take they want it to succeed yet they're just concerned about money laundering, the whole talks seem to be focused on how to prevent money laundering without restricting the growth of this technology, the head of the IMF Christine Lagarde is saying the same technology blockchain uses to authenticate transactions can also be used by regulators to track movements and prevent laundering or illegal activity, I've said before in other threads that a more open DLT or a way to track it would actually make bitcoin harder to launder than fiat, you would have a complete track record of the movements from each transaction, something which is impossible with a bit of paper and something you would expect to see in any future currency, more reading here:

https://www.coindesk.com/imfs-lagarde-track-cryptos-with-blockchain-to-fight-fire-with-fire/

Other countries have said regulation is required at an exchange level, requiring ID checks to purchase/sell crypto, where I live this is already in place and it works fine, I can buy and sell crypto freely just like the non regulated countries and all I had to do was provide ID, if you use this for illegal activity then you'll suffer, but are we really concerned about these people? I'm not one bit.

Between ID requirements and monitoring of transactions, does this really change anything? Sure, it'll shut up all the FUD about it being banned and what not, for people who are trading it or using it for legal activities not one thing will change for you, this just ensures the longevity of crypto, it's something WE NEED, it will also bring a ton more security to your assets, if some one hacks your wallet and moves bitcoin around 20 times it won't matter, the history of each transaction will bring it back to the thief and they'll pay the price.

To think we'll have this free for all currency with no regulation is crazy, it's inevitable, the outcome could of gone 2 ways, countries trying to ban it or countries trying to track it, you've got the head of the IMF saying it's positive technology and we just need to control laundering, why are people reading this as negative news and creating panic?

Anonymous coins will be the grey area here, I couldn't care if regulation comes in where exchanges are no longer allowed to list these coins, I would much rather see stability and longevity than the desire for anonymous transactions.

Once these measures come in nothing can stop it, you're now sitting at a chance to get in cheap, I know people who won't go near it due to it's lack of regulation, once it's regulated it'll blow up and we will see a ton more people jumping on with confidence.

So what do you all think? Other news like google and facebook banning ICO ads is meh at best, who cares, this impacts nothing other than another reason to FUD.

Well it depends on the level of regulation. If they severely restrict who can transact or even outlaw bitcoin then we could be in trouble. Banning or restricting ICOs would also have a negative impact because a lot of the money transacted inc cryptos is being fueled by ICO investment etc. If suddenly they become a heavily restricted market with KYC regulations etc then a lot of them will die off or find it hard to get investors.

That is pure speculation though rather than following what's coming from the talks, no one wants to outlaw it, they are clearly saying they want to encourage it's growth while protection against money laundering, you can google "g20 bitcoin talks" and filter over the last week to see what other countries are saying, they've also pretty well agreed regulation will be left up to countries and no international approach will work.

ICOs will also require regulation just like IPOs do, also required to stop all these run away scams, if you can't afford the money required to get a license or take the steps required under ICO regulation then why should investors take you seriously? too many scams, measures to prevent this are needed and a good thing.

Yeah, peoples seems to be panic. i don't know the fud that was spread.
but i suggest all of us to keep calm and holding. because if we holding, the price on the market won't go worse.

Those restrictions will help us, after this banning , we can say that it is much safe to invest now, and secured to join or buy coins. It will help us soon to filtered those who are legit and really have value. We should think positive now.

We cant control everyones emotion. Yes there are people that immediately believe on what they have read or saw and we cant argue with them because it was their opinion and we have to respect that

All we can do is wait util this dilemma is off and leave us for the good. Anyhow It's better regulating than a total ban in crypto in certain countries. I know we can still make a full comeback or even just little steps by steps until we are back on track. Even they ban crytpo in a specified area or region there will always be rebellious people who are taking the risk and continues to trade and engage.
People have different kinds of approach and we might say they are tired of waiting and dumping their coins leaving nothing, I hope there will be time when they realized that this was just the beginning and we are entering an era where Blockchain will be widely used and that time they can celebrate for holding and supporting the cause.

It will settle all down after regulations being implemented. It is the next logical step towards a new usable system, practical for people and for governments and maybe banks.

If people are panicking and dumping their coins because of the G20 and all the FUD around this event, then it's very unlikely that they're gonna take at least 5min of their time to read about the benefits that regulations can bring to the crypto market, meaning that panic sellers (and whales, can't forget the whales shorting) will keep tanking the price. At least you're trying to raise awareness about the G20 summit so kudos to you.

It is very unlikely that a decision to outlaw bitcoin will go through, mainly because Japan and USA will take a pro-bitcoin stance while still trying to reach a resolution about KYC/AML and other regulations...it's all speculation, though.

I think majority of people that are now into cryptocurrency just want to take profits. They still prefer the use of fiat currency. So when these FUDs spread around the internet, they exit with their profits and that's what we see as panic selling. But in fact they're just playing along with the news and the market to make profit.

That is unadulterated hypothesis however instead of following what's originating from the discussions, nobody needs to prohibit it, they are plainly saying they need to empower it's development while security against illegal tax avoidance, you can search about the g20 bitcoin talks and channel in the course of the most recent week to perceive what different nations are stating, they've likewise truly all around concurred direction will be surrendered over to nations and no global approach will work.

     So there's nothing to worry about,they are all talking for the better regulation of the cryptocurrency and this is a very good sign of the btc to be use globally.
      This is near to the success of bitcoin as international currency.

That's absolutely something i do not understand. Some of these powerful countries have began to give some great news about bitcoin. The news coming signifies that the future of cryptocurrencies is bright and i still don't know where people are getting all these fake news and causing them panic.

Most likely the world will accept crypto currency. There is no point in barring it. Individual states understand this and make appropriate decisions.
If someone from the G20 starts using it, then other countries will move on to them.

I read something in some other thread and I liked it very much, so let me use it here for the sake of this discussion (the disclaimer: the idea is not mine). The thing is that what is needed and welcome is customer protection (like protecting against scam ICOs, crypto theft etc). But regulation is usually meant in much broader sense and includes taxes and ways to actually limit the use of crypto, and that I oppose.

I am very optimistic that the  upcoming G20 meeting will come out positive as regards the regulation of bitcoin, I hope all the deliberations taking place will stimulate the price of bitcoin so that fears surrounding the  sudden drop in the price of bitcoin will cease and reduce the tensions of panic sellers.

So this will be the conclusion despite all the fights.
ICO's have done a great deal of popularity that made the bitcoin seen too much and now they want it too.
I thought it will just be the ICO's that will be affected and now it looks like everyone should be known in any crypto currency. Even the bitcoin mixer will not be helpful here, so they will run out of jobs.
What is the use of a private transaction now? It will just be the same as staying with the banks. Then we dont need bitcoin anymore.

But I do not think so what happen in G20 meeting about discussing bitcoin and ICO project. There are many people waiting to get the positive news like you have said here. Since all the crypto currency dumped in the market. If there are any negative move we will find the bitcoin and other cryptos value falls along with together.

Hope there is no any big regulations on the bitcoin from any country and lets some countries comes with the bill accepting the bitcoin as a legal money to use.

No country is crazy enough to ban a technology that is going to revolutionize the world and is the future. The amount of money invested in the crypto markets is astounding and banning bitcoin is going to create chaos in the real world and the amount of money people will lose is tremendous.

Just speculations. What if they intend to impose strict restrictions and demands that all users of crypto should register their personal dats so that they can be monitored? I think the focus of the crypto talks is to lessen scams and prevent money laundering like you said. But surely, they will try to put tax on it.

There are people who don't believe in the news, and check everything 10 times. Others succumb to panic, hearing the news from third parties. All people are different, I personally Hold.)

With fiat countries look for a paper trail to be able to see where funds have come from and where they go. I believe countries will look for same with crypto to prevent laundering and payment of taxes.

Yes, Regulation talks are positive, but all the crypto currencies have fallen, and I can't understand why people panic. The outcome of the negotiations is not bad news. I am now beginning to suspect that a whale can control the price of cryptocurrency.

I agree with you. If the government's agenda is for security then why not. But some people especially those who have doubt in crypto are backing out and pack their money back, you really can't blame them. For they invest in higher price and seeing their money shrink is quite depressing. It's okay, the cheaper it gets, the more investors are capable to invest. Lower price, higher chances.

I do like if there is a regulation through cryptocurrencies, it would help us more by not be scammed by greedy and bad people all over the world.

Most governments and central banks do not want to recognize bitcoin as an asset or as electronic money, but they want to regulate ICO and the entire industry, that's impossible. I think panic is spread by central banks, because bitcoin is a direct threat to them.

Regulation should be healthy for cryptocurrency in the long run, since it should fortify cryptocurrency against day to day fud and bad news. The problem is how long it will take to get there, because we will get there, and just how many more news are going to affect the crypto market negatively along the way.

Each announcement is, as of late, stopping market resurge, not giving it enough time to recover the loss from the previous bit of bad news. The sooner regulation comes, the better for the market (another discussion would be how regulation should be enforced, how it applies on a per country base and so on).

Once that bridge is crossed, grass should be greener on the other side. There will probably be a large rebound after that and eventually a more stable market with less massive ups and down. Then we’ll be able to focus on cryptocurrency evolution and utility being the driver to price.

The problem is that it always starts like that. at first they will introduce a small amount of regulation in order to not bring a lot of attention to it and then as time passes they are going to turn up the regulation to the point in which you will no longer be anonymous anymore when transacting cryptocurrencies, that is the real risk.

In addition to G20, the governments of other countries did not speak out negatively about cryptocurrencies and did not state their strict regulation. The news background regarding bitcoin and all cryptocurrencies is quite positive, at least not negative. I also adhere to the view that the fall in prices for cryptocurrency is due to the actions of speculators, traders and those who decided to drop the price of bitcoin to buy it cheaper. And those who panic and immediately sell their cryptocurrency and buy fiat has always been a lot. Just everyone needs to understand that these temporary price jumps do not matter in the long term, because the price of the same bitcoin rises several times each year and no one remembers that its price has already been dropped so many times that many started to talk about the death of cryptocurrencies.

I am not panic i am just keep watching and stay hodl all my coin

There are two ways of looking at this,there are people who started using this platform simply because they are away from the government regulation and they cannot control anything and the expected future investors does not care about the reason the market started in the first place as they wanted profit.

no need to panic! this fall and these negative news is a temporary phenomenon! I am sure that soon everything will return to normal and good growth will begin! Crypto market is the market for the patient! now serious players try to knock out weak hands from the game! Let's see what G20 will say, I think there will be positive regulatory laws!

regulation had to occur at some point of time.
People fear the unknown and I believe that this is not the only reason of crash , there is also TA behind it .

at this time we do not need to panic with the price of crypto currency is very low. we do not have to believe the bad news about kripo, now all that has to be done is to push the crypto currency to recover. we can do this by adding investors to buy bitcoin, besides we also have to promote bitcoin to our brothers and friends to join in crypto currency.

Still, no one has the specific reason why the prices are falling down of all cryptocurrencies but I think it is a market phenomenon. Good days will come very soon. 8)

Well, we people are different and we can't avoid that some of us will be driven by their emotions to be panic. There are so many issues right now and maybe this is one of the many reasons why crypto is down. For those who already knows how the crypto behaves I think they are the one who are not panicking in times like this.

As far as I know people are panicking because of the strong regulations back home and some are being taxed high for using cryptos and for others I think they are not reading the right news with is positive for everyone else and I see demand raising once these regulations people fear are laid out and understandable to everyone.

Most regulation talk is just about idea but not about how they will achieve it and mostly it will be years until regulation been finalized around the world and depends on the countries. Most countries agreed to apply tax regulation towards bitcoin but still banning ICOs and don't recognize cryptocurrencies. So what does it sounds to you? In one hand they will reap what you sow but they won't admit what you sow until now as an item.  ;D ;D

Holding a digital currency doesn't mean that that investment will be having a good pump, it still depends on how the currency moves in the market. As far as I know holding doesn't really help the price to pump.

I couldn't agree with you more.  I'm thinking the same way with regulations being put in place, these are good news. It means they accept and recgonize the existence of cryptos esp bitcoin. Let us see it as a startup for it to grow and develop, cause as been stated, the worst outcome is banning of bitcoin.
So I would support regulations and even taxation.

panics have never been solely because of some news like regulation news, etc. but instead they have always been a combination of causes which lead to a big effect called panic sell.
for example when the price is falling and the dumping is going on thanks to the initiators of the dump or the whales, and panic sellers see it then read some news about some regulations, bans, hacks, etc which may as well be completely irrelevant to bitcoin, they start panicking then. and that panic is what causes the big dumps to happen and price to go much lower.

yes, i agree with you. the G20 conference announed that they wont ban or control cryptocurrency. this is really a good news for the market and you can see now, most coins have increased about 10% value. I believe all things will be ok soon

For BTC and other cryptocurrencies to become the new financial system of the future, it needs to be embraced by the people and gain their trusts. The regulators need to give the people their freedom for their wealth, but without control, it could somehow be abused by the criminals and money launderers which couldn't entirely be eliminated but can be minimized. Regulation is necessary for something that is out of control and the blockchain technology is a very powerful tool to decrease criminal activities.

Becuase of the major currency price drop so that public panic . on the other hand fb google also banned crypto add it also the another negative hype for market. son in this situation panic sell increase thats why i think market fall . i hope  Regulation talks are positive  it also need to improve market situation.

They also said that Bitcoin and crypto currencies posses no real threat and I believe that’s why most panic sellers have currently stopped selling but I would have appreciated it if they had sold all their bitcoins because they are so stupid.

I am sure that tomorrow, no specific decisions will be made at the G20 summit, they will agree to work out certain concepts and meet after a certain time, for example, in the summer. And the market will again be in a state of uncertainty. And it will not be good either for bitcoin or bad.

Well, I don't agree. Majority of countries don't have any intention to outlaw Bitcoin. But they want to regulate it to give more security both to users and to businesses and to control illegal activities. Regarding ICOs I also that the goal isn't ban but to be honest among ICOs there are many scams so their regulation would actualy help with protection.
Bitcoin is changing, it's get more regulated, at some moment KYC rules will also be introduced but I still don't think this will harm Bitcoin, just the opposite.

Yes, I don't know why bitcoin continues to fall today. There is no bad news about bitcoin today. I think the regulatory negotiations are good news. I now suspect that whales are betting against bitcoin.

News Plus other factors combine make the uptrend or down trend of bitcoins. I think G20 can be a big life to the down falling of the crypto market and can be a good source on injection to boom the price.

That is right, why we are panic when we should not. Don't take life too seriously, make if a habit to stay positive all the time especially here in cryto, we need bitcoin in our life so therefore we need to unite as one, if not then we will end up broke in the end so be positive and stay calm always.

People are generally afraid of what they don't know, Regulations could give a negative sentiment in the market for a quick period because alot of people would be afraid in what will happen next but after a while they will realize that there are some benefits in regulating bitcoin. It has it pros and cons. We want freedom but we also want to make the image of bitcoin more legit so that we can push forward in making it the main currency in the world.on the other side This would be like a game of chess, I think right now some people are already ahead of the game and that would mean making some decisions based on their vested interests. Well in the end Ireally hope bitcoin regulations and changes would be for the better.

most people panick and throw their coins because of the G20 and all the FUD around this event, it is highly unlikely that they will take at least 5 minutes of their time to read about the benefits that regulators can bring to the crypto market, meaning panicked sellers (and whales, can not forget the shorted whales) will continue to hit the price. At least you're trying to raise awareness It's really something I do not understand. Some of these powerful countries are beginning to give you good news about bitcoin. The news that came indicates that the future of cryptocurrency is bright and I still do not know where people get all these fake news and cause them to panic.

Some people are just overreacting and been carried away by FUDs spreading all over the internet. They do not analyze carefully the facts. They do not read between the lines yet jump right away to the conclusion. I guess we should all be positive.

regulation is really needed, so bitcoin can be widely move around the globe and not just a specific country that is open to cryptocurrencies, the idea of these talks and information dissemination proves that bitcoin have a big potential in terms of growth and making its way to open consumers. regulating bitcoin is better than banning it. it means that IMF and other leaders are seeing long term advantages of using crypto. as what they say, it will not compromise the nature of being decentralized, it will limit only on exchange sites, and this is inevitable, whether we like it or not, for us to convert it to any fiat, exchange sites are needed. what they limit is the transactions by tracking the movements and they cannot know from whom the funds came from. so, chill out guys. 

Yes indeed theres no need to panic. Im seeing this very positively as well. I think most of the issue the government has against bitcoin is it can be used in crimes like money laundering because of pure anonimity of transactions. The government only want to make sure everything is legit when dealing with bitcoins. And with tge bans from facebook google and now twitter. Im seeing it in a positive way as we. These bans only promote minimizing fraud or scams which are very evident since the surging interest of the public towards cryptocurrency. People sometimes panic over nothing, sometimes we need to trust in the system.

I think this diversion has achieved the purpose of spreading panic. Not everyone reacts like this.

The problem government have is that they already have regulation. But how do they apply these existing regulations to these brad new assets. This is the global problem because the currency is so new.

There is no reason why they couldn't list anonymous or privacy based coins, exchange transactions are trackable and meets all the kyc requirements. It's only direct coin to coin transactions that can't be traced so anonymous payments would be made outside of exchanges instead.

I think the price of bitcoin is unstable and it will crash at any time. Its price changes are not determined by the quality of a message. The news has little impact on bitcoin. So don't judge the price of bitcoin by the good or bad news.

i don't think anyone is really panicking i think the media is trying to let us think that people are panicking when the general populace really isn't. Bitcoins is such a good currency that even if regulations were to be brought to the table once they cant be circumvented we the people would accept and work with them to ensure we can still use our coins. If you notice you learn about these panic situations in the media you b hardly hear it from the mouth of the general populace . no one is panicking cause by now we have a good enough idea of what to expect from bitcoins including its potential to rise and fall however this "panic agenda" is being pursued by the media and not the bitcoin community.

With adequate knowledge and an understanding of how the crypto space work, we will tends to build a strong community, with that world leaders will have no choice than to accept and embrace the crypto space, regulation will tends to bring decorum into the crypto space.

I think that is just a natural evolution of the market, most people that invested early in bitcoin where mostly idealist, but now the people that are putting their money in cryptocurrencies are not doing it in an effort to support a project they want to get profits, and they want to get it fast so they do not really care about the regulations except for the effects the regulations may have on their profits.

If only not for those scammers and people making projects but leaving it after taking large sums of money, this regulation issue shouldn't be here in the first place. I am just fine with regulations for as long as it is not destroying crypto and its decentralization system.

I feel that the global regulators may be worried about the possibility of cracking down on cryptocurrency transactions. It may cause the bitcoin's gains to slow down, but it should not jeopardize the existence of such currencies.

Now that bitcoin is gaining more and more popularity and more people are using it, it's a natural response for bitcoin to be noticed and to be implemented with regulations especially that more and more people are getting involved with it. But those regulations should be done in balance and with the  right knowledge.

Crypto if the overall look actually has many applications in reality and in the future. It's too good and many people think it's a threat because it robs their profits, robbing some of their work. Blockchain is the way we stop corruption and save much money for the world. G20 they have a proper view on crypto.

We are using traditional kind of money. Bitcoin is new kind is hard to accept. The India government is not positive for it. The people who involve in it only target is make profit because they don't trust on it. And believe that this kind of money can not successful. So when price fall panic comes and they start to sale.
This is condition in India.

I believe in bitcoin. It is traditional usd in cryptocurrency and it will be used for a very long time. So after regulations will pe only positive moments

I also think that regulations are a good thing. This is the only way institutional money comes in.

People are getting used to all the controversies with cryptocurrency. The only reason I think that
makes people panic is numbers and prices in the market. No matter how distinct regulations issues
may be, it's old news. Governments will reject and accept crypto from time to time, but the
market is growing, it's only a matter of time when things will settle and we will have new things
to worry and panic about. Innovative solutions don't just settle in overnight, it's the same case
with bitcoins and altcoins. Everything takes time and these things have a way of working out.

Nothing is certain for sure.
But i think the idea that you can have decentralized consensus that does not require third party approval will change the world.

100% agree and the worst thing possibly to do is sell off in a bear market.
Panic selling will leave you in the whole, if you feel the urge to panic sell at times like these, shut off your computer and find something else to occupy your time.
You will regret selling at times like now when we're preparing for the running of the bulls!

Regulations are never going to destroy cryptocurrencies and the decentralization behind them, regulations are just an attempt to curb adoption and to make it harder for a lot of people to avoid paying their taxes, that is all, as long as you're willing to pay your taxes regulation is not going to affect you that much and if you do not use exchanges regularly then any regulation is going to have minimal effects on you.

That's right. The word or act of regulating can mean so many ways. Each country has their own view of how the cryptocurrency market works, and what it can do for the market globally, and in their local markets as well. Unfortunately, many countries and business entities still that the cryptocurrency is not a good means to do business, and so, it stops them from actually embracing the market. I just hoping that whatever regulation will be made is for the better and not for the worse. Also, I hope that it has provisions that would safeguard its users.

If the situation is like that better to save your btc in some place with private keys because even they banned crypto in your country still you can sell it in other place,i think also if the government not use digital currency anymore of course they do that because they not experience good here so if there reason why they banned this already in your country of course that's to people so accept that and find other way to continue your bitcoin journey

Phenomenon of cryptocurrencies have been a symbol for me of personal freedom and of great opportunities in a world scale. That’s why talks about any kind of crypto regulations worry me in some extent.

The more panic, the faster Bitcoin will start to rise again in value. Panic is sown by those who want to buy digital gold at low prices. Whatever restrictions and rules for digital currencies are introduced, one thing is clear, somebody is afraid of something, you can hide behind any definitions. But the truth is the main, we never know.

That's the positive things that we can take out this market.Botcoin is considerably low but the flow in alts has hold the market firmly.

Maybe they are tired of waiting and throw their coins without leaving anything. I also hope there will be a time when they realize that this is the beginning and we enter in an era where blockchain technology will be widely used and then they can celebrate to hold and support as a cause. All those risks depend on us whether we can withstand our passions in order to gain more profit. 8)

I think people who panic are people who do not have a handle of their lives is following a trend what is booming they follow and what is being circulated about what they follow them also follow. if we are patient and calm I am sure our choices will not go wrong