Bitcoin Forum

A recent tweet from renowned macro investor Raul Pal that Bitcoin will sooner or later become regulated has sparked much outrage. He believes that the only way for the government to accept Bitcoin is through the regulation of Bitcoin.

https://twitter.com/RaoulGMI/status/1331759587876335617?s=20
https://i.ibb.co/kcJwn6R/Screenshot-4.png (https://imgbb.com/)

But we all understand that this is not at all the idea that Satoshi embodied.
Today, we are all seeing PayPal increasingly create the conditions for the centralization of bitcoin.
At the same time, many famous personalities disagree with the concept of passing KYC for owners.

https://twitter.com/AlenaSatoshi/status/1331963506984431618?s=20
https://i.ibb.co/zXLbZvB/Screenshot-3.png (https://imgbb.com/)

The opinions were divided into two halves. According to Stefan Leaver, host of the famous Bitcoin podcast, perhaps
 there will be two versions of Bitcoin.
The first will be tightly regulated by the authorities, while the second will remain for adherents of libertarianism and privacy.

https://twitter.com/stephanlivera/status/1331761016649105410?s=20
https://i.ibb.co/80fJdXJ/Screenshot-4.png (https://imgbb.com/)

How do you see bitcoin evolving in a highly regulated environment? Will the government be able to take all control measures and ultimately make bitcoin centralized?

The idea for creating a post: ( source) https://forklog.com/mnenie-nalogooblozhenie-i-regulirovanie-bitkoina-eto-normalno/

Probably that's the only way in order for this technology to achieve acceptance across the globe. Not all people are aware of the nature of this technology and one way to push this towards more people is to boost its reliability through government regulation. But I doubt it would be a total regulation. My idea to this is an optional regulation not a mandatory regulation. And this will be made possible through third party networks which will be an alternative to crypto exchanges, for those who are just knowing only the "surface" idea of this technology.

Anything that tends to pose as a threat to the unending dominance of government will forever be at a risk of regulation.
But one should understand that " the reason why the governmental bodies are so set on regulating them and not banning them is because' they cannot ban Bitcoins" it's too involved with the people and at the same time one should understand that these regulations are going to bring protection and therefore some people might feel more comfortable in using Bitcoins.
1. Laws will be there to protect Bitcoins as an asset
2. We can gain more conservative people who are ready to invest
This regulation is something that we cannot control , but what we can do is to make a good use out of it.

If in the end bitcoin has been regulated and limited by government regulations, I feel very disagree, which we will feel we do not have complete freedom over our own bitcoin ownership. this is very worrying. When bitcoin was widely known, of course the government already knew bitcoin loopholes in providing huge profits. It's very unfair for us to manage bitcoin the way we expected.
This is so sad bro.

Regulation and KYC doesn't harm bitcoin nor the community, no problem.
Most of us who have registered on exchanges that require KYC have done it.
If the government wants to supervise cash flow in exchanges in order to be cautious and alert to the dangers of money laundering or any other illegal activities, they can do it just like we have been using bank service for years. However, everyone can choose to register on exchanges that not require KYC if they want, or never do it at all, using bitcoin without a third party to buy or convert bitcoin into fiat currency.

Like glass can be said half full AML/KYC can be viewd as - "Is bitcoin being rewarded by having more regulation"?

Who can say no to 25% nominal fees?   I remembered days when I have to sell 10% below for buyers to take on.  Thanks to regulation, that is no longer the case.  And this is making non centralized exchange trades so profitable and attractive.

They will request citizens to pay taxes for earnings from crypto and obviously the tax includes earnings from bitcoin investment or trading. They can not control all bitcoin in circulating supply, they can not mine all the left bitcoin. They can only prepare law regulations and make approvals and pressures on exchanges to get all taxes from crypto enthusiasts.

I don't say it is a bad thing but in life there are people don't pay tax and the same for crypto investment. I don't mean people should hide their earnings from crypto and reject to pay tax then have jail-time. It is not a happy ending and if you earn huge profits from crypto, pay tax is not a bad thing.

Bitcoin does not need to be accepted by the government, the network does not depend on legal approval to operate and it doesn't need this to be globally adopted.

This is a likely scenario, and we are already seeing such a distinction among Bitcoin holders. There are those who are not overly protective of their privacy and would sign up to any platform and declare their identity as long as it allows them easily transfer bitcoins to Fiat and altcoins. There are also those who guard their privacy and use Bitcoin the way it was designed, a decentralized peer to peer system which doesn't need a third party.
With time these two groups would further drift apart till we have two extremities;
• The legal whitelisted holders who are fully compliant with government regulations
• The unrecognized holders who operate under the radar.

Governments can not take your Bitcoin and cannot influence the network either. Any action they take is dependent on the holders of Bitcoin.

Imo, Bitcoin does not need protection, neither can the government offer that, and if anyone needs Bitcoin to lose its decentralized nature in order to get involved, they should not be holding bitcoins at all

As long as the governments exist, they'll regulate anything they can that could be used against them.

People use bitcoins against the governments and they don't like it.

If you don't want to be ruled by governments just get your gun, go out and start killing the government officials. (sooner or later it'll come to this)

What were you expecting?

People would have freedom? Without a fight?

heeehaw

This is a sensible topic, but I'd say regulation would offer Bitcoin a massive boost towards mass adoption at the exchange of privacy. Of course that people could just not declare it and continue using it privately, but I don't see why not. I think the purpose of Bitcoin is not to confer people full anonimity, but to eliminate the middleman (aka the banks and the government) from controlling the monetary supply and overall the payment networks.

The decentralization will still be there, low fees and almost instant transactions around the world will still be there. If you look at it from this perspective, KYC is a good thing.

If they KYC every exchange user there is, it won't be much different than the traditional banking. (we are already close btw)

Exchanges already act like banks. (middle-man) I had a couple hundred dollars on my binance account where I make some minor shitcoin trades and suddenly they wanted to KYC me when I wanted to withdraw my money.

This happened over for a few hundred bucks. Not sending your passport scan? Fine. Then you don't get your money. How is that different than banking?

I know it is not your keys not your coins but sooner or later you'll need FIAT and the govs hold the FIAT gates. Not you.

Even If you don't go through the exchanges, any other service you use may do the same because every corporate answers to the boss: The Gov.

Well, the government will really use their power to regulate anything that may harm them, they know the potential of the cryptocurrency but they still cannot approve it because of so many factors so the things they want to do is to only regulate it but not totally regulated. We already encounter some KYC in exchange so it would be not a problem if the government will regulate it and implement the KYC. As expected they are doing all of these things just because of the taxes that they may gain for those investors and traders of cryptocurrency.

It always is. If Bitcoin adoption increases far more from here, that would most probably effectively decrease the power of central banks. And with that, it makes a bit of sense for them to heavily regulate it due to the threat to their power.

Will it happen though? I'm not sure, but I personally wouldn't be surprised if they actually did.

Will they be successful? Yes, just as successful as them banning drug use and piracy/torrenting. /s

There are already more and more KYC in the crypto space, soon regulation will be even severe. Gov will not allow money that they coudnt track

Bitcoin's protocol is impossible to regulate, because you can't regulate how people use computers across the world. What can be regulated is the exchange ecosystem, and it has already been regulated - every major exchange has KYC and shares information with government. Maybe in the future there will be even more rules, like for example a need to declare how much coins do you hodl when you cross the border. But the last person from OP got it right - there will be two options for using Bitcoin - abiding to these regulations, or ignoring them.

Definitely at risk. We don't know yet how much they'd grip but if it's enough to only regulate what is going in and out of the exchanges, they will lose tax money. Will they allow that to happen? It depends on the kind of government where you are. But surely crypto users will try to get away using DEX like blocknet up to the extent of using the privacy coins.

Actually more of the exchange is now required KYC for using it. there are just exchange that you can still use for a  small limit but in order for you to widraw higher amount you need to comply and pass the requirements they ask for verification process.

They cannot track all the transaction but you also need to convert it in Fiat in order to use the money you own in crypto currency which you need to use crypto exchange or P2P that also asking for verification.

The problem is the abuse which cannot be stopped.
Anything in this world is going through that phase.
You cannot just please everyone.

If you are working in a government office and you are making a lot of money thru corruption then you are against it.
No doubt. I just spoke with one just hours ago.
Decentralization is a fucking sickness to them.
Anywhere it goes I will support bitcoin. Just not to the depths that it will be used for evil deeds.

Like it or not but Bitcoin is already being regulated by multiples legislations, taxes, and so on... It should not be expected that this would happen overnight. Institutions and governments make decisions over time, and as an ecosystem, there are many niches to think about.

In any case, we can see over the years, especially since 2016-2017, this is becoming increasingly common and it will certainly continue to do so in the future. The AML/KYC is just an appetizer of what is waiting for us.

There are a lot of people here on Bitcointalk who argued that the regulations would help Bitcoin to be massively adopted, and it seems to be still the case in 2020. In a few months or years (at least in a near future, <5years) you will figure out that nonsense and that you either don't understand Bitcoin completely or you're not so interested in it, except to see the price increasing by xx% in a few months, just being interested in a pseudo-quick-rich scheme.


Regulations are cancer for Bitcoin's ideology. Fuck that!

It was created precisely to do without all that and have better financial independence. All you want is nothing more than to copy and paste the same nonsense from the current financial system. If you want to repeat the same mistakes, you might as well go back to the current monetary system.

Bitcoin has developed very well, both technically and economically, and has created its own ecosystem that has progressed very well so far. We don't need governments to keep moving forward, we don't need a financial dictatorship that tells us what to do, and prevents us from doing something as we want.

The adoption increased without them, so why preaching them.

There is really a high probability that the situation will fall into that scenario of Bitcoin being regulated by the government of certain countries to allow its people upon using and transacting Bitcoin into the vicinity of their country's property. As long as the government see that people are more likely engaging into a new thing, they will surely and always be get in between and regulate everything for they are claiming that it is just for the sake and welfare of its people. Accept it or not, that would probably the upcoming phase where government wanted to put into their hand and control the usage of Bitcoin in their country which most likely other users are always considering if their country is allowing crypto usage to let them transact and be able to make use of it freely.

First of all regulations against bitcoin are already in place so I do not see how the future will be any different than what we have now, however this theory about two different versions of bitcoin is ridiculous, bitcoin is bitcoin, I have no doubts that centralized cryptocurrencies created by governments will be created and be widely accepted but those coins will not be bitcoin, bitcoin will remain free and even if a great deal of people decide to accept KYC practices there will be many that will not, also this makes the assumption that bitcoin will never be accepted directly as a form of payment which in small purchases will defeat the whole purpose of KYC measures against bitcoin users.

It would really be always on the different side of things.Yeah it might really be regulated but into those services and platforms who do have crypto services but talking
about regulation directly then we know that it isnt possible for bitcoin.Its been a while where platforms need to be licensed and of course KYC would really be tied with it
but good thing that theres some certain limits before you do able to do so.If you are completely getting rid of kyc or verification then theres still lots of options for you to take.
One things for sure that they are really totally different with fiat in so many cases.

At the moment the future is unclear, we don't really know if this can be the only way for mass adoption of bitcoin to take place, this looks like a threat to crypto, the government hates decentralization and they will stop at nothing until they can be able to regulate bitcoin, and we the users of bitcoin don't want to be regulated by the government, so it's kind of a fight between the government and the people, but personally I don't want bitcoin to be regulated by the government, but let's see how it's going to be in the future. Fingers crossed.

This is the reason why there are still many countries that have not accepted Bitcoin, because of the difficulty of implementing
regulations on Bitcoin. We know the government will regulate everything including Bitcoin, but because Bitcoin is decentralized
the government does find it difficult to regulate Bitcoin. So the temporary way the government is doing is by requiring all exchanges
or third parties to implement KYC procedures.

His tweet has a point. If a particular regulated exchange was hacked and users has a KYC submjtted, infos, credentials, address were already exposed to them. In fact, that was the disadvantage that other users might not aware of.

Bitcoin regulations were already implemented in some countries, if this will gonna happen worldwide. How can we say we are free to control our own bitcoin? For some reason, it is better to implement some laws about cryptocurrency usage if we are thinking to minimize fraudsters and criminal activities.

I agree that if exchanges are exposed then possibly the users is at risk. However, bitcoin on the other hand cannot be at risk of the implementing regulations because it is decentralized.

Moreover, even being said that bitcoin is invulnerable - the fact that it is being used by the people in traditional payment system - it might be disrupted and its sole purpose could potentially be affected. As we know, decentralization is the goal of bitcoin aside from peer to peer payment system in which there will be no parties involved in the transaction. Thus, people is under the regulations of the government or state so although the latter is decentralized it could still be used inversely.

My point being is, it could still be regulated in the future by means of its users and not the bitcoin system itself.

it is not surprising. good sign by the way. it is drawing government attention meaning crypto market becomes significant "player". no one thought it could surpass 1 trillion (and much more) and authorities will pay no attention to it.....no problem for most people who own some coins legally. the only problem would be for some people who have many BTC's from early times when coins were mined and no documents for their purchase but who knows. positive steps. some years from now institutions and governments may use BTC. time is not too late for people to enter and buy. as many experts say one man must have at least some percentage of their funds in btc.

No, bitcoin will not get into risky situation but its users will. The purpose of regulation is to avoid any possible abuses and in return bitcoin users will be subject for government mandates on rules and regulations. This is not the easy part and probable rulings is to conduct KYC, limit the possible exchange between fiat and bitcoin. In my opinion bitcoin should be better this way. No mandates from the government and people can freely do their bitcoins and has full control over it.

Well the regulation of using bitcoin will be dependent to each country, if the government believe that regulating the bitcoin network on their country, I believe it must be due to atleast counter those illegal activities that their citizens are doing through the help of Bitcoin.
It is the exchange that will be regulated, not the Bitcoin itself.

It would be nice if Bitcoin could exist without various regulations, but did anyone think that the rulers of the world would give up what they keep people under control with? Whoever has the money has the power, and Bitcoin doesn’t fit into that story as something that should be completely decentralized. The question is how it was possible (or still is) to use Bitcoin in the way it was conceived, to completely circumvent all regulations and achieve a major adaptation at the global level?

If we had moved in that direction right from the start and if we immediately eliminated the idea of centralized crypto exchanges, how would that affect Bitcoin itself in terms of its accessibility to people around the world? Can we in any way prevent the authorities from regulating something that is meant to be available to everyone?

I agree more with Stephan Livera that 2 types of bitcoin adoption may co-exist and yes I strongly believe the goverment will be stepping up control measures, so if bitcoin is accepted as payment it will be fully regulated and declared, but it also can be as a private asset to store value.


https://twitter.com/stephanlivera/status/1331761016649105410?s=20
https://i.ibb.co/80fJdXJ/Screenshot-4.png (https://imgbb.com/)

How do you see bitcoin evolving in a highly regulated environment? Will the government be able to take all control measures and ultimately make bitcoin centralized?

The idea for creating a post: ( source) https://forklog.com/mnenie-nalogooblozhenie-i-regulirovanie-bitkoina-eto-normalno/
[/quote]

I don't understand why so much surprise as regulations aren't something new here. At least in my country all exchanges have to follow regulations and there isn't anonymity when dealing with crypto currency.
All speechs and declarations of freedom, anarchism and libertarianism are just utopia right now. They do exist only in theory, because in practice the government or the elites win. We are playing their game by their rules. That is how things are happening in this world since the ancient times. The best example of that is what was done to Jesus Christ: they killed him and stole his teachings, subverted them and then created a religion in his name.

Now they are going to do the same with bitcoin.

In my opinion, we really shouldn't provide KYC to Paypal or any centralized platform. Because they manage our data and be able to sell it to other businesses for huge profits, then it would be very dangerous to our identity.
I think we should create a lot of content to talk about this, it will affect the crowd and possibly influence the decisions of governments in the future. If that doesn't work, we shouldn't use Paypal platform, Binance and other big exchanges all have P2P platform, so we don't need to worry about cash out either.

This is true later if the government makes a rule to ban bitcoin and others I think this will lead to resistance. because bitcoin can be misused by government officials and we as a society will suffer losses just because of unsupportive regulations

If bitcoin is supported by the government then bitcoin will be able to be used for all kinds of illegal activities, which will increase the number of crimes and investors in bitcoin will lose their freedom bitcoin has a long way to go before it can be controlled by a decentralized government. The government of any country cannot control properly even if crime is created through bitcoin goes digital the government's fiat currency will suffer a lot will be difficult for the government to prevent.

When a Bitcoin-Circular-Economy operates outside of government on the Lightning Network, it's going to be near impossible for them to regulate it. Transactions are onion routed. If everyone use it, this will be far too costly to enforce any laws.

It's getting easier & easier for individuals to operate outside the jurisdiction of politics on the internet.

Transacting privately should be a right, not a crime.

If you hold the keys, your Bitcoin cannot be regulated & it cannot be stopped.

They're going to have to come to your house & commit extortion or some form of blackmail in order to get your keys.

I'm betting technology wins in the end.

Open source developers will most likely trump governments.

That is not how it works, if government endorses bitcoin, there will be policies that is aligned to prevent illegal activities. The problem that I can see when the government is involved in bitcoin, an outrage to the pre-policy users will be outrage by the fact that they have to deal with bureaucracy. Also, crime prevention and elimination tools used by the government will be updated to catch up if they want to have digital currency friendly nation. I agree with you in a certain degree, maybe if the government is not ready to fight the dark side of things then I think that they should not put it into priority.

In many of the countries, Bitcoin is already regulated. For example, take the case of South Korea, Japan, Germany.etc. Even in many of the states within the United States, it is regulated (don't forget the Bitlicense of New York). But the level of regulation varies from country to country. In Japan and Germany, the government don't want to intrude too much. If you pay your taxes on time, then you are fine. But there are certain jurisdictions, where you need to provide all the details, such as the wallet ids and transaction logs.

BTC Have a Green Future in 2021

It is close to this phase of its development but I doubt this will be a risk for this technology. If there will be no further development regarding the aspect of wide acceptance, regulation is probably the only way in order to achieve mass adoption  of this technology in daily transactions. Regulation will not be directly imposed and as we are seeing, this will be made possible through the use of third party which is in this case, digital networks such as PayPal because it will boost the reliability of cryptos towards the masses especially to those who are just new in this industry in forms of introduction.

I will declare it will I? Fat chance. What the hell are they going to do? Visit every single bitcoin holder's house and look at your computer and somehow access your wallet. Wow the guy in the first screenshots a damn fool.
Please tell one time in history the governments ever helped us? No, they send us to war under threat of severe punishment to fight some are they created. They tax the shit out of you and waste the money on themselves and on really stupid purchases and things that the country actually doesn't need. Then when they run out of tax money they come back to us and ask for more??

I will declare my crypto when hell freezes over, all the angels die, demons roam the earth & over my cold dead body.

They can't even track on gun owners never mind anything else.  :D

Also, good luck legally proving a wallet belongs to someone. In court, they still struggle to put murders into prison because of "lack of evidence" now do you really think they going to be able to convict someone for something ridiculous? Not a chance.


They can't even control piracy but they think they can control bitcoin.  :D ;D so funny....

I think that governments need to regulate Bitcoin eventually for the mass adoption. In the end, regulation means becoming officially legal to use it under some conditions. But the regulations shouldn't be too strict. Otherwise, Bitcoin users won't be happy about it and Bitcoin can lose its meaning.

Bitcoin shouldn't be regulated not even a bit because it will kill the concept of bitcoin's existence and even if government starts to implement regulations mildly, it won't take long to fully regulate Bitcoin and make it like any other centralized wallet payment system. They have been trying to regulate Bitcoin unsuccessfully from long time. Regardless legal or illegal users will figure out a way to use Bitcoin if they want to use it so we shouldn't be compromising on basic rules of bitcoin to make it legal.

wonder what kind of regulation will it be. And who will regulate Bitcoin. If there is regulation for Bitcoin, there may not be global but only in specific counties regulating it. Bitcoin should be decentralized, why should be regulated? Moreover, it is our assets ad our reasons why we love BTC. I don't think it will happen. But if there are any probabilities there must be another way of regulation

What kind of regulation?
There are already some countries that accepted Bitcoin both as the payment tool and the digital assets. But I don't see those countries regulated Bitcoin, the government just regulated how Bitcoin to use in those countries. It has a much different definition between "regulate Bitcoin" and "regulate how the Bitcoin to use in the countries".

I have no doubt in my mind that governments are going to try to subvert bitcoin in the same way that they subverted gold, the difference is that there is still in fact room for freedom with the use of bitcoin despite all of those regulations, the only problem is that you need to make an effort in order to get that freedom, if at some point you want to convert your bitcoin to a fiat currency then you have to play by their rules, because that is their system, but eventually as bitcoin is accepted in enough places so you can sustain yourself by only using your bitcoin then you will gain freedom that you never had before, but still you will need to remain vigilant and avoid any centralized party because they will always be subject to regulations.

Bitcoin isn't at the risk of regulation. When something gets regulated, automatically the growth gets affected positively or negatively. By the time, regulations help in making people use that particular thing without fear. Maybe it could have hard restrictions, but when days pass people gets used to it. There is nothing to discuss about bitcoin standing at the edge of regulation.

IMO, bitcoin needs to be regulated. Regulation is a bridge for mass adoption. However, we need to states who will regulates this space. It can be independent organizations, government, or anything. It should be “trustable” by the majority. Regulation is not the risk. The risk is for bitcoin holders who dont want to taxed, or they used it for illegal purposes.

Bitcoin and any other decentralized financial projects could be still unregulated and massively adopted just if the conventional one collapses.

They can, the government has the capability to impose regulation in order to strengthen the use of Bitcoin I such a way that they can limit illegal uses of it. That is only possible with their jurisdiction especially to the business or companies about cryptocurrency that is starting to develop. They can regulate the tax, the fees, the transactions, the safety and security of the users, but for the existing blockchains deployed on the main net, it is impossible that they could regulate it as Bitcoin's whitepaper tell us that there's no need for an intermediary such as bank and financial institutions. That means that Bitcoin was built not to be regulated but to provide absolute freedom for the users whether which path they will take to use Bitcoin in good or bad ways.

In some cause it needs regulation to avoid unnecessary scams and other illegal things which bitcoin and cryptocurrency used. It's somehow protection to the users and holders to avoid any unnecessary platforms that can harm them, but for any things like controlling of the usage and limit the numbers? Maybe from this we don't need that but for betterment then I think it's considerable.

That's what they will have you believe. The truth is even with regulation you still not protected. The only one that can properly protect you is yourself. Prevention is better than a cure. You can't blame it on having no regulation if you fell for a silly scam. Scams still go on even on social media networks and they have been using fiat for years. Some just changed to crypto to keep up with the times but it is still the same old scam that authorities have warned people about for years.

I agree. At the moment there is just too much negativity around BTC and for the average people how it is a vehicle only to lose money. This whole issue of course stems from BTC not being regulated in any way so if any government was to place some sort of regulation I think that would encourage the average people to at least test it out.

You should first define what regulation is. For instance, Bitcoin should be recognized by law and regulated in the way that people would be allowed to demand the return of their stolen coins in court, be able to pay their employees in bitcoin without being accused of giving out worthless substitutes of money. IMO if government demands taxes to be paid on the coins that you hold they should allow for these taxes to be paid in bitcoin.

To be honest, I do not agree with the position of centralization of bitcoin, since this violates all the principles of creating this cryptocurrency and gaining control over it will allow the authorities to set restrictions on use, and this already gives a thought to how then bitcoin will differ from fiat with the same control, my opinion is definitely not centralization

I totally disagree with Raul Pal on the matter because it seems he doesn't entirely understand what bitcoin is, why it is significant, and what makes folks want to adopt it. What Raul Pal does is confuse cause with effect. People want to adopt bitcoin because it is a good store of value, okay. But what makes it a good store of value is the absence of government presence: they can't control it, manage it, kill it, seize it, inflate its supply, debase it. They can't do anything with bitcoin, which is the main reason why it is valuable and is being adopted in the first place. If we are to allow the government to KYC bitcoin transactions, we will make bitcoin less decentralized, less valuable, less suitable for the role of a store of wealth, and thus decrease the adoption.

I think bitcoin should take over the main means of payment for the whole world

Maybe, This is really possible

Disagree with this from a practical perspective. You can already pay with an alternative asset / bartering if you come to an agreement with the person you're paying. If the person doesn't with to be paid in Bitcoin I think it's more than fair if they don't. Also from the tax perspective, it's absurd, do you expect them to allow for the payment of taxes in shares and property which they then have to dispose of? Not to mention that one of the economic advantages of tax is to be able to drive up demand for your currency. There is little benefit for individual nations to drive up demand for Bitcoin.

First of all, i supported what the Twitter user Raoul said because for cryptocurrency to gain adoption some sacrifice will be needed but that doesn't mean the government will control Bitcoin as you said and what they will control is the exchange site and some others crypto payment site. However, there's a chance for the government to influence the price of Bitcoin just like the role played by Paypal.

Government regulation regarding bitcoin are a threat to bitcoin itself as a mean of payment. Regulations prevent bitcoin users from paying for certain items using bitcoin legally in a country because bitcoin is subject to applicable regulation.
A real example occurs in Indonesia because all bitcoin users cant use bitcoin as a legal mean of payment but the government has never prohibited trading. It's just that these exchanges must also comply with government regulation whereby all exchange operating in Indonesia must obtain a license which is then regulated by the implementation of KYC. Regarding taxes, the government also want taxes from trader carried out by trader on listed exchange, but trader do not have to pay it directly to the government because maybe the exchange is already negotiating with the government.

The most important thing in my opinion is that the government cant regulate bitcoin transaction and every user does not need to get government approval to make transaction. The government can only control its use in the real world but not for transaction.

Most certainly, though the lengths and depths of these regulations are still unknown. I’m kinda expecting that everything would be focused more on investor protection and taxation, with some of the tidbits kinda hanging on other aspects of the coin. Regulation is to be expected ever since big companies came and took over, so as to “formalize” the space and make it a decent environment for one and all.

I think that Bitcoin will be regulated on most of the countries eventually. I also think that it is important for Bitcoin's adoption process too. But there is no such thing as Bitcoin can be turned to a centralized cryptocurrency. Being decentralized is Bitcoin's nature and it will always be like that.

However, if we are not welcome to use bitcoin like the united states and china, how can we freely develop bitcoin? whether we can thrive without any regulation from the government. Right now it's really confusing.

I don’t see no lies in what Raoul Pal has said, the Government wouldn’t leave Bitcoin without regulation, they are already penetrating, and there are already countries that are trying to make their citizens declare their assets and take taxes from them.

Centralized exchanges are just like tools that are being used by the government to penetrate into the cryptocurrency environment and have it in their palms. But I think there is still a way to avoid the government and have that same privacy that most of us are looking for and that’s by making use of DEX or P2P. I don’t know for people in other countries, but this works for me where I live, P2P is always the way to go. If you rely on centralized exchanges you’re the one losing.

One has to wonder if Raoul is one of the folks behind what Blockseer is trying to do with their tx-censored pool (https://bitcointalk.org/index.php?topic=5288649.msg55573486#msg55573486)? Per their marketing crap they will process only 'clean' transactions...

Now while the assurance of 'clean' tx's may be helpful to Institutional investors, odds are the mainstream miners will avoid Blockseer like plague.

Regulation is inevitable for bitcoin. You must understand this. They want to control all segments of the financial market.

Misconception however is that people use BTC is because they want to avoid tax. It's what some thought like some friends I know reacted like BTC is very private that is why it's used for blackmailing.  And this is where it gets its value but we know that it isn't true.

Regulations will come whether we like it or not and it had started a long time ago just when we asked to send IDs. We are not at risk but those who are using BTC in their crimes are.

That is against the spirit of the blockchain revolution which prohibits central control. This is where DEX will shine and is the future of crypto trading. In few years ahead, centralized exchanges will not so that popular as they are now due. Not your key, not your coins, identity stolen is another issue.

these risks only exist in their respective countries. because we know that every country imposes a different risk for bitcoin, so I agree with your statement that the risk depends on which country and how is the regulation in each country

I fully agree to this statement where the only way for the governemnts to fully accept bitcoin is by regulating it. No governments will try to adopt a certain currency that they don't have a control of or there are no regulations that will give them an advantage.

That is what I saw to most of the governments especially that there are very few yet who welcome crypto in their country and this is the biggest reason that I saw why they are not ready to fully adopt crypto currencies. They don't have a control of it, the same to what happen to China and other countries where they decide to create their own crypto currencies in order to combat the crypto adoption so they will have a full control over the crypto that are being used in their country.

if your from a country where btc is not yet accepted and this is the only way to accept it i dont have a choice but to agree with that regulation and that was better compare to by not experiencing to hold a btc in your hands
 but i dont know about the others if they are also going to agree with that agrement .

 to other countries that btc is already accepted they are lucky because most of these countries didnt start like this but they are freely using thier btc unregulated .

As we know that some countries have adopted bitcoin as an alternative payment transaction apart from using conventional transactions, indeed in the majority of countries they have not adopted bitcoin, but I think time will tell.

Because technology cannot go backward, so it is necessary to continue to develop it, especially in terms of finance, so digital finance such as bitcoin will certainly be needed in the future.

I don't think regulation is a risk at all. For everyone's safety in trading Bitcoin, I think regulation is great since there are those who are abusing the freedom that Bitcoin offers. I think a balance between regulation and keeping the foundation of why bitcoins exists should be found and cultured.

We will come to the day where owning bitcoin is a huuuuge crime! Wait for it.

Everything needs regulation, including bitcoin. This happened because I thought the risk posed by bitcoin was enormous. They want to protect their citizens from crime, inflation, and AML which can ultimately harm the country or society itself. Seeing this, I think a country has the right to make rules on the scope of power so that everything runs smoothly. So as long as the regulation does not change the nature of bitcoin I think all will be well.

They are going to do that as well, but doing that is still not going to give them control of bitcoin, you need to understand that governments for the most part have an inherent desire to centralize things, they want every single aspect of the life of their citizens to pass through their hands, why do you think that they allow social networks that are so invasive to the privacy of their citizens? Because they benefit out of it, instead of having to spy their own citizens their citizens offer that information for free to private companies that then sell that information to them, they want the same level of information when it comes to your money and they had that when banks were in complete control of the economy, but now for the first time they are being challenged by bitcoin and they do not like it one bit.

Could be everything needs regulation but not Bitcoin. I don't think it is for a reason just to be legally accepted and stop those scamming activities or fraud cos literally it will still exist no matter if there is regulation. It is the government that wanted to control and benefit from Bitcoin, and this will issued a higher risk than keeping in a decentralized market.

There is no such protection, regulation means controlled IMO and if that be going to happen, that is the time also that we lose our freedom.
I don't think that we want it.

I think KYC and regulation are okay, You can avoid KYC if you want, KYC is not required in all exchanges, and if you don't use third-party exchanges, you can avoid government's bans by trading p2p bitcoins from your local users. if you complete the KYC and use the exchange, then the way you use the local bank account is exactly the same. The government only takes KYC to prevent money laundering, ordinary users should not have any problem with it.

This is the problem in India adopting cryptocurrency, they are having a hard time regulating it in their economy.

It is not that impossible for a country to allow and legalize bitcoin unless they can regulate it properly so that they will not have a problem on exchange and transactions.

Bitcoin is really new for some developing countries especially that it is decentralized and governments have nothing to do with it but to legalize it or not. Not all countries do have guts to accept bitcoin and let it circulate in the market because they have different mindset towards its existence.

Bitcoin as a protocol will probably be free of regulation: the ecosystem moving around bitcoin (being miners, devs, holders, etc.) get to decide how to treat the protocol. Mostly are devs who get their say, and I think that's right.
If you think of bitcoin in terms of its relationship with fiat money nothing stops the old world to regulate bitcoin as a value exchange mechanism: there you will have KYC, AML and all the rest of it. And, remember, that is unavoidable, don't be so naive.
You get to decide on which side you rather prefer to move to. Will you remain in bitcoin or will you go to the old world? It's up to you to decide.

No country's government will be able to control 80 percent of Bitcoin. As a result, they are banning Bitcoin out of frustration. The stricter the law, the more crime will develop. The government does not want to get in trouble, so it is banning or banning Bitcoin. The government will never be able to take control of Bitcoin.
This is the only realistic opinion. Whether we like the government or not, this is how it will continue and will continue.

true, I agree that KYC is clearly needed if the government considers that bitcoin will be used as a legal medium of exchange, all of that is to avoid money laundering which we know that in bitcoin is difficult to control. as long as for the improvement of KYC it is appropriate and very necessary. agree with our colleagues that if you want to avoid KYC there are still many ways that can be used because that convenience is available.

If in the end bitcoin has been controlled and limited by government rules, I feel extremely go amiss, which we will feel we don't have the complete open door over our own bitcoin ownership. this is incredibly distressing. When bitcoin was comprehensively known, clearly, the public authority certainly knew bitcoin stipulations in giving enormous advantages.It's uncommonly inappropriate us to direct bitcoin in the way where we foreseen.
This is so hopeless sibling.

In the event that in the end bitcoin has been controlled and restricted by government guidelines, I feel very deviate, which we will feel we don't have the total opportunity over our own bitcoin proprietorship. this is extremely stressful. When bitcoin was broadly known, obviously, the public authority definitely knew bitcoin provisos in giving immense benefits. It's exceptionally uncalled for us to oversee bitcoin in the manner in which we anticipated.

It’s obvious the government is against bitcoin technology and these is devastating I must admit because couple of hours ago I was reading a post where the Writer is complaining bitterly of how the government rejects bitcoin technology and even went ahead of asking the police to punish those using bitcoin in the country. It’s really devastating that a bitcoin enthusiasts would have to use vpn before he/she can use bitcoin technology. The regulations on most, if not all countries to bitcoin is not favorable. So bitcoin continue to strive to stand even in the whole circumstance.

If you want bitcoin to go mainstream, then this regulation is inevitable. I doubt the government from any country in the world would allow free access (that is without regulation) of crypto currencies. I know some people might say it is just the government that wants to control everything. Part of it is true, but then it would be stupid to deny that keep it unregulated would keep things normal. Just too many risks that can be avoided with regulation.
So yeah, bitcoin is at the risk of regulation, but there are both good side and the dark side to it.

It might be a threat for bitcoin community to have a full regulation of the government. Many of us here, I know, doesn't want to have KYC process because of security and identity matters. However, if there is a full regulation we can't avoid to pass our identity online. Specially, if the third party wallet will advise to have KYC process. But because of full regulation, we can't deny as well that cryptocurrency community will boost its popularity. In result, users will confidently use bitcoin anywhere in globe.

I thought how do they regulate Bitcoin where it is used by people all over the world? And maybe this will happen in certain countries only. However, this may not be the case globally. And if Bitcoin were to be properly regulated, it would be wrong, not quite the way Bitcoin was originally intended.
Or maybe the regulations are not on Bitcoin but how to cash out or how to get to the platform in that country.

In a way I can understand governments, they see something like bitcoin and they see risk, not only the risk that something really illegal could be going on but they also see that if people really begin to use this they could miss in a bunch of taxes so they do not want to legalize it and regulate it, but if they refuse to do so then people are going to use it anyway and they are going to miss on that money as well, so they are trying their best to regulate bitcoin so they can get profits out of it but at the end I think regulation is going to fail as well as people are simply going to do whatever they want with their bitcoin.

  Need to understand that governments for the most part have an innate desire for centralized things,they will do the same,but doing so will still not give bitcoin control.They want every single aspect of life the the citizen is go through their hands.why do you think allow social networks to serously invade the privacy of their citizens?because they benefit from it,instead of detecting their own citizen the economy.At the time bitcoin challenged them and they don't like it a bit..

This is bound to happen even how eager bitcoins wants to be independent with government regulations. If the government sees an opportunity to have something at their advantage they would do anything to integrate it their system like bitcoin for example which could bring vast opportunities economically.

I don't think that blockchain technologies Bitcoin care about government thought. What government want that is bitcoin need should legalization or not. Bitcoin don't need any government support. Bitcoin is its own boss, its own country, its own government. If government approve bitcoin then its okay or if government says we are not agreed to legalize it. Then bitcoin will be replied so what i don't care we are our own country. Now what do YOU think? Its my opinion.

all countries will do this if it is very profitable for state revenue as a result of the rules made by the acceptance of bitcoin. but the decision will clearly be well thought out because bitcoin is known to be difficult to check if there is no clear regulation from the government that wants to adopt it.
profit and loss will be considered as carefully as possible because it is feared that the government will actually be made difficult on the way after the receipt of bitcoin.

They can take their regulations and shove it up their a**holes.
Bitcoin is cross border, once enough people enter the world of Bitcoin, no regulation ever would be able to undermine it.
you can't have the same stupid regulations all over the world, so there is always a way for Bitcoin to thrive!

I always keep saying this is not a big deal if you are earning bucks in bitcoin and paying your returns or at least showing up the income in your IT returns then you are good to go! In our country the crypto currency concept is completely ban or at least unofficially declared illegal but still I always show my assets in it. This is far better than hiding it and then regulatory authorities finding about it. So if I have use to Kyc to adopt any process then I'm completely fine about it and would use it in normal way only.

I think people who are more or less into black money or money laundering business are the one who fear the crypto Kyc. I mean come on we keep doing KYC for so many things in our real life so what difference it makes if you do it in the crypto sphere.

regulation? Of course! How about Constitution amendment?
the sheeple in US of A can roll back the debt clock; if U.S. Constitution be amended so:

1) In the purest form, Gubment needs BTC since it was created by the people and for the people.
2) State official shall have honorably served and be an veteran of foreign campaign and engaged in hostilities.
3) All Excise, tariffs, and duties shall be remitted with BTC
4) Under Congressional supervision, Secretary of the Treasury shall maintain convertibility of BTC to basket of commodities to include major domestic agriculture specimens, Energy, and the like to the best interest of the United States.
5) Under Congressional supervision, Federal Reserve shall maintain liquidity and ensures decentralization
and of BTC offchain payment channels.
6) Commerce Department shall maintain sufficient channel capacity to facilitate for BTC offchain payment.
7) No commercial entity, including bank and covert elites shall fund campaign to public offices unless publicly declare and provide cryptographic signatures to attest all BTC holdings.

Instead of servicing public debt with ever dwindling dollar, by having Treasury increase its BTC holdings,
U.S. will dominate the BTC space by adopting an unit of account that appreciate
at a rate to outpace current rate of compound interest and put an stop to monetary policy that are inflationary and based on fractional reserve borrowing.

Make America Rich Again [MARA] is possible,
U.S Debt clock would immediately run backward upon adoption of aforementioned policy.

I don't think that bitcoin is at risk of regulation since there are lots of big companies are now adopting bitcoin, primarily as a payment method since it is safe and faster than doing bank transaction or fiat transaction. But still there are lots of people who are still doubting bitcoin, there are still countries that are banning bitcoin and prohibiting the people to use it. I hope that someday those countries are gonna recognize bitciin as a good investment and a good way of payment method.

Regulations are need in other to keep bitcoin healthy as I see it. If you look at the number of illicit activities that criminal are using bitcoin or crypto for that's to bad. We should be expecting some upcoming blocking technology that will as kyc from users very soon especially government owned ones.

Yes, bitcoin does have its advantages, but the country is scared because it can't control it. The value is also always changing so that it can cause losses. That is the reason why some developing countries still have difficulty legalizing bitcoin. Many thought it could destroy the country's economy. In addition, the issue of using bitcoin as a means of transacting illegal goods has made Bitcoin's image negative. In contrast to fiat, which has been recognized around the world and has become a legal payment that can be controlled existence.

In fact, Bitcoin is an unlikely situation with centralized regulation, at least it may not be global in nature

Crypto regulation is inevitable if we want the huge adoption.
But how could you imagine centralized Bitcoin?

As long as the regulations are reasonable I do think that it will be for the better. The companies that will be using it will not be in favor of a regulation in my opinion, this could be a good exit strategy to launder your money without going for shell companies or better yet. I am not against bitcoin but I think that we have to look at the negatives with the same equality. Doubt will always be on the minds of the people, it is only a matter of time before they regret their decision. Prohibition will get these countries nowhere to be honest, the more you tighten your grip, the more your subjects will try to break free.

I am OK with some level of regulation. But the recent moves by FinCen does concern me. They are trying to identify personal wallets, i.e those outside the mainstream cryptocurrency exchanges. I won't be surprised if they ask online wallet providers such as Blockchain.com to make KYC mandatory for those who use their wallet services. If that happens, then installing a desktop wallet maybe the only solution.

Even when the price of Bitcoin was 4k, many people thought that buying Bitcoin is very risky, the price has already come down a lot, the price can fall at any time. When the price went up to 10k, people were afraid more,They started saying that the price of Bitcoin has gone up a lot and now it cannot be bought. Then when the price went up to 20k, a group of people said that Bitcoin has gone up in ATH, now the price will fall.
Today when I'm writing this post  the price of each bitcoin is going to 25800+ , some people are still scared and talking about the risk of regulation.
Alas Seleucus!

It can't say risk almost because without regulation nothing is perfect. But there should be a form of perfection mistakes. The Crypto world is an insecure field that no one can sure that they surely avoid scams and they will never get into speculation. So if governments accept crypto as a payment method, there may be one way is settle regulation to get the whole matter systematically.

I don't think that Bitcoin can be regulated, it is the exchanges instead. The fact is that no one can ever control a decentralized asset like Bitcoin even the government. For me there is no problem with the current situation here in my country wherein the central bank implemented regulations on local cryptocurrency exchanges.

Indeed, the guideline of utilizing bitcoin will be subject to every nation, if the public authority accepts that directing the bitcoin network in their nation, I trust it should be expected to at any rate counter those criminal operations that their residents are doing through the assistance of Bitcoin.

The trade will be managed, not simply the Bitcoin.

Bitcoin is not at risk of regulation. Rather, it is under regulation by the blockchain and the various Bitcoin clients.

Governments regulate only one thing... as many people as they can get away with regulating.

8)

I think from global acceptance and regulation, ESG (Environmental, Social and Governance) concerns is a bigger problem. The climate has dropped off the radar during Coronavirus.

For every millennial into bitcoin, there will be two concerned about the climate and will position their portfolios accordingly.

Although, there are of course green energy mitigations which can become part of the discussion.

Some people are always trying to find out something better than bitcoin and arguing. Then, IMO it is not possible to find out any other redundant & reliable file storage mechanism. The main thing is maybe BTC suppose to very expensive but in 2021 there is no doubt that it is 100% reliable.

Regulations is the greatest threat for bitcoin because of the bitcoiners identity possible exposure especially in the KYC process. KYC is really one of the most dangerous form of process that has been mandated by the exchanges. Bitcoin had been created for decentralization and anonymity but it has slowly change due to KYC procedure. However, KYC has a good purpose so if it can do more good than harm then let it be.

Total regulation would be impossible to achieve due to the decentralized and open source nature of Bitcoin. But it's possible to regulate centralized entities which provide crypto-related services in the mainstream world. Considering that centralized exchanges dominate the market, it's easy enough for governments to regulate the industry. KYC and AML laws will be the norm in the centralized crypto space, forcing some people to rely on decentralized alternatives. A regulatory-compliant environment for Bitcoin, would give people a greater level of confidence. This will make the entire crypto/Blockchain industry "legitimate", attracting institutional investors and traders alike. Only then, Bitcoin will achieve non-stop growth in the mainstream world.

Nonetheless, it's safe to say that Bitcoin is NOT at risk of regulation. The pioneer cryptocurrency has grown into a "force to reckon with" since its inception. With many ways to get access to Bitcoin, trying to regulate the industry in its entirety will become extremely challenging to mainstream governments. They will eventually face the fact that Bitcoin is truly unstoppable. As it's said in the real world, "if you can't beat them, join them". In other words, if governments can't beat Bitcoin, they'll have no choice but to join the crypto/Blockchain movement. Just my opinion :)

I've think about that so many times, bitcoin could maybe be the future with its technology a digital currency or number 1 digital currency that everyone could use.

Just comparing it to fiat money which is regulated I cant imagine bitcoin to be over fiat money at this point without getting regulated, bitcoin is still in the process of adaptation and still growing so it is possible for bitcoin to evolve or maybe get regulated by the government to evolve or else we might see a new technology that is above bitcoin.

Most of us think that bitcoin could be the future but still i know that somehow we have doubted bitcoin at some point and we cant see it clearly how it is going to process in the future. Maybe the bitcoin could be regulated when all of the 21million supply is already mined.

Currently, cryptocurrencies are regulated in the US by several institutions – CFTC, SEC, IRS – making it difficult to create overarching regulatory guidelines. In short, yes – Bitcoin can be regulated. In fact, its regulation has already started with the fiat onramps and adherence to strict KYC and AML laws.

Bitcoin is not legal in most of the countries, as the price is skyrocketing, so many governments are thinking of regulating bitcoin, so that they can also cash in. There are many rumors about bitcoin. Most of the people think that using bitcoin is risky and illegal.
As Bitcoin is still not regulated. Only users of bitcoin can regulate it. Bitcoin has no financial existence. It is still not regulated because is not considered to be electronic money according to the law. Central banks don't permit bitcoin transaction.
But gradually importance of bitcoin is increasing incredibly. As a result, most of the countries are thinking about legalizing bitcoin. China already took the initiative of legalizing bitcoin.
Regulation of bitcoin will be a great news. After regulating bitcoin, it will be a safer transaction system. But regulations of bitcoin will decrease the trading value of bitcoin. But it will also help bitcoin in many ways. At that time bitcoin transaction system will act like banks and other traditional currencies. More people will be able to use it. People will accept bitcoin more.

Regulated usage will make majority of the people know about bitcoin. When regulated the government also gets benefitted out of it. In reality it is really a hard task to regulate the usage of cryptocurrencies.

Under regulated usage bitcoin will loss its importance, that is pseudonymous. When something needs to be regulated, government needs everyone to get interconnected and fulfill KYC norms. This will affect the decentralisation and the freedom of banking which is the core of bitcoin over traditional fiat.

Many people think regulation will increase bitcoin adoption.

I think that's a good thing.

My main reason for holding bitcoin is to get profit from the demand.

(it also impresses the girls though  :D

Regulation of Bitcoin has the potential to make the market better. It will also be a risky investment but it is more safer with protections for investors, it's less likely that the market will be able to face as much outside manipulation. Overall, this is a good thing for people who want to invest in cryptocurrency.

Severe crackdown can shake the 'digital gold' narrative and kill the high price, but I won't be taken down completely.

in  my opinion regulation might lead to acceptance of BTC worldwide by major governments,
not full scale regulation I meant some regulation to make BTC less anonymous , if we see the only reasons why governments are not accepting BTC as a currency is because of  its highly fluctuating nature and anonymity in transactions, some regulations in at least tracking BTC transaction through different addresses might help BTC  to be accepted across globe.

It can say here truly a tall likelihood that the circumstance will drop into that situation of Bitcoin being controlled by the government of certain nations to permit its individuals upon utilizing and executing Bitcoin into the region of their country's assets. In long run the government see that individuals are more likely locks in into a modern thing, they will without a doubt and continuously be get in between and direct everything for they are claiming that it is fair for the purpose and welfare of its individuals.

Well, with the fact that Bitcoin can be accepted only with the help of regulation, I completely agree, after all, for many states, cryptocurrency is, in principle, a kind of threat, in fact, this is in fact the main currency on the dark side of the Internet and with the advent of cryptocurrency in everyday life, it will have to be regulated that at least there was no high crime. But I agree, this fact is very alarming

In fact, KYC is now needed to use more foreign exchange. The only exchange here is that you can still use it for a small limit but in order to expand it to a greater extent you need to comply with the requirements that they ask for the verification process

Right now there's no correct expectation of future, we do not really know in case this could be the as it were way for mass selection of bitcoin to require put, this looks like a danger to crypto, the government despises decentralization and they will halt at nothing until they can be able to direct bitcoin, and we the clients of bitcoin do not need to be controlled by the government, so it's kind of a battle between the government and the individuals, but actually I do not want bitcoin to be regulated by the government, but let's see how it's attending to be within the future.

Regulated how? Bitcoin by itself cannot be regulated because of its decentralized and censorship-resistant nature. Governments have only been able to regulate centralized exchanges, but that's it. Decentralized & non-custodial exchanges, as well as, atomic swaps, are out of reach from the government. The blockchain itself will be impossible to regulate given that it's widely distributed around the world. To become successful at the task, governments from around the world are going to need to reach a common agreement. But we all know that largely impossible.

As long as Bitcoin remains decentralized, it'll be truly unstoppable. We can thank Satoshi Nakamoto for his/her/their efforts in bringing financial freedom to the world. With money being separated from the state, people can truly control their lives. Once governments realize that their efforts to ban Bitcoin are in vain, they'll join the game. This will lead us to a point where CBDCs (Central Bank Digital Currencies) and crypto will co-exist for many generations. Let's hope for a fruitful relationship between mainstream governments and the crypto/Blockchain industry for the benefit of all. Just my opinion :)