Bitcoin ATM CEO: Cryptocurrency Needs Regulation to Survive

[HappyWhiteHuman]

Bitcoin ATM CEO: Cryptocurrency Needs Regulation to Survive
In an exclusive interview with CCN, the CEO of the world’s largest Bitcoin ATM network took a hard stance against those who believe in a world where Bitcoin and its peers can survive unregulated.

Sheffield Clark, whose company — Coinsource — recently installed 17 new Bitcoin ATMs in Florida, stated that cryptocurrency is not a viable or realistic payment solution at this time, citing it as a major obstacle to be overcome for all in the space.

“With the time and cost that it takes to use Bitcoin to pay for everyday items as currently constructed, is not realistic for most people to use it in this way. It doesn’t make sense for them to. It is not easier or more cost efficient than traditional financial instruments at this time.”

Clark pointed out that BTC’s best use case at the moment is that of a speculative investment or means of trading and investing in other virtual currencies, something he says is evident from the use of the Coinsource Bitcoin ATM network, which is often used to exchange cash for bitcoin, which is in turn invested in altcoins for speculative purposes.

The CEO pointed out that the “primary Bitcoin ATM customer” comes from the one-third of the world’s population which are unbanked, leaving them with no choice other than cash or bitcoin. While the speculation is good for traders, Clark states that the volatile and speculative nature of the space makes life difficult for those turning to cryptocurrency out of necessity.
https://www.ccn.com/bitcoin-atm-ceo-cryptocurrency-needs-regulation-to-survive/

[tunapa]

its so needed and obvious for bitcoin and cryptocurrency to be regulated, for safety of users, investors, purpose and general acceptance. this will only take time to be done by the regulating body. proper care needs to be taken as its seen as a determinant for the worldwide adoption and usage of bitcoin.

[Herbert2020]

its so needed and obvious for bitcoin and cryptocurrency to be regulated, for safety of users, investors, purpose and general acceptance.

that is only true if we assume the regulations and the government is there to protect you and your money but the reality is not like this. regulations aren't a way to save our asses. the government doesn't care about that. what happens with regulations is that you will continue being scammed and lose money (like exchanges running away) but also you will be paying taxes and experience other limitations because you are complying with some regulations.

[khelan]

its so needed and obvious for bitcoin and cryptocurrency to be regulated, for safety of users, investors, purpose and general acceptance.

that is only true if we assume the regulations and the government is there to protect you and your money but the reality is not like this. regulations aren't a way to save our asses. the government doesn't care about that. what happens with regulations is that you will continue being scammed and lose money (like exchanges running away) but also you will be paying taxes and experience other limitations because you are complying with some regulations.

yes you are right.. But please tell what will be the solution to increase of bitcoin adoption? Because without government support I don't think the encouragement to use bitcoin will be faster. Because government can ban the advertisement any time.

[o_e_l_e_o]

that is only true if we assume the regulations and the government is there to protect you and your money but the reality is not like this.

Absolutely this. The government (any government) only want involved so they can slap taxes on purchases, sales, trades, exchanges, etc. Any consumer protection or price stabilisation is a distant second to their main aim of taking a slice of the pie.

[funchiestz]

I definitely agree with him. If goverment will not let the crypto for use, then they are getting disappear day by day. We need regulation ASAP.

[Indrawan77]

that is only true if we assume the regulations and the government is there to protect you and your money but the reality is not like this.

Absolutely this. The government (any government) only want involved so they can slap taxes on purchases, sales, trades, exchanges, etc. Any consumer protection or price stabilisation is a distant second to their main aim of taking a slice of the pie.

I agree that the true intentions of the government is not to protect the people, but to prevent people to gained too much financial freedom, we don't need the government at all to make crypto grow, but we need the government to stay out of the crypto, which is impossible, because the government want to tax the citizen in every possible way

[btcformula]

I admit It 100%.

People love to follow the Rule but Some people are out of Box. They are the market maker. They just manipulate the market for their profit. Same way news website run the fud & fake news. If this will happen a day after day how an institutional investor, Govt, common people convinced. Lot's Govt denies Cryptocurrency because of volatility. It should be stopped now for a better future.

[Herbert2020]

its so needed and obvious for bitcoin and cryptocurrency to be regulated, for safety of users, investors, purpose and general acceptance.

that is only true if we assume the regulations and the government is there to protect you and your money but the reality is not like this. regulations aren't a way to save our asses. the government doesn't care about that. what happens with regulations is that you will continue being scammed and lose money (like exchanges running away) but also you will be paying taxes and experience other limitations because you are complying with some regulations.

yes you are right.. But please tell what will be the solution to increase of bitcoin adoption? Because without government support I don't think the encouragement to use bitcoin will be faster. Because government can ban the advertisement any time.

bitcoin doesn't need the government support to grow. that is the whole point of it! as a decentralized currency it should never seek approval from anyone let alone the government. and if people adopt bitcoin they should be adopting it because of this and other characteristics that comes with being decentralized, not because the government approved it or not.

[BitcoinOddsChecker]

Bitcoin is still here and I think us users will always play the bigger part. With or without the government, cryptocurrency will remain. I mean, the gist of Bitcoin is decentralization, which means it should be able to work without support from the government.