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In short, regulation will not effect bitcoin... not even in the slightest.
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It does. In acquiring bitcoins through exchanges under a jurisdiction where bitcoin is regulated, users are affected the most (and of course, it hurts bitcoin too). It forces them to give out their credentials for tracking and taxation by the government. In a mildly-regulated scenario, it may be good, but in places such as NY? It isn't, and it affects bitcoin and its users there.