Bitcoin [Battles With Regulatory Pressure]

[hugeblack]

One factor that has historically laid big blows on Bitcoin has been regulatory stirrings. The announcement by China that it would be banning ICOs and then following that exchanges, sent the market spiraling.[1]

This week, there were similar fears realized - albeit falsely - when the South Korean Ministry of Justice announced independently that they would be banning trading in cryptocurrency. This was done without the consent of the Ministry of Strategy and Justice and other government agencies involved in the South Korean cryptocurrency regulation task force.[2]

In the US, the SEC, which has had a bit of a history in the cryptocurrency space already, is starting to make a lot more noise in its attempt to regulate.[3]

1. Do you think Regulation have the ability to kill off Bitcoin?
2. How will effect in market price?
3. Do you think we need for some parity between the regulators and the digital currency economy?[4]


Source : https://cointelegraph.com/news/bitcoin-halts-week-long-slide-but-battles-with-regulatory-pressure

[BitHodler]

Regulations, if fair and well balanced, will eventually help Bitcoin reach the mainstream adoption that it deserves. If we didn't had at least some regulations in place, there wouldn't be any place for institutions in this market.

If we look back at the reasons for the previous ETFs to be rejected, the main reason was Bitcoin's unregulated market, which to a certain extent is understandable, because these tools are subject to extremely strict rules.

Look what's happening right now with more regulations taking effect. CBOE and CME have been allowed to open Bitcoin related future markets. NYSE and Nasdaq will do the same this year, and some other entities will follow.

Bitcoin's utility expands, which means that it has more actual use and value. That's why I welcome even more regulations to take place as long as they are fair and contribute to this market's further growth.

In other words, regulations are not negative by default. People constantly have been talking about institutions entering this market, now we have it due to the recent flood of regulations we have gone through.

[Wind_FURY]

OP, the real question is in the middle of all the regulatory pressure from some countries like China and South Korea, which countries will be embracing Bitcoin as medium of exchange? I believe some European countries like Norway and Switzerland will start to adopt it. Any country the does not will be left behind and will be forced to in the end. Do not worry.

[pooya87]

1. Do you think Regulation have the ability to kill off Bitcoin?
2. How will effect in market price?
3. Do you think we need for some parity between the regulators and the digital currency economy?

1. not it will not kill bitcoin. because bitcoin is decentralized and peer to peer and they even call it censorship resistance. it is created this way so that any regulation, ban,... doesn't affect it.

2 . as you have already seen, it will cause a drop in the price followed by a quick recovery and continuation of the market on the same path.

3. what kind of parity?

[arpon11]

I think governments has to come to this realization that bitcoin cannot be regulated and since it is decentralize. Governments at the same time cannot stop bitcoin and cannot kill bitcoin. We see bitcoin passing through a lot of serious difficult time and we should  prepare our minds that this problem is going to last long because governments see bitcoin as there number one enemy.