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Author Topic: What do government regulations REALLY mean for Bitcoin?  (Read 4675 times)
orions.belt19
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July 09, 2017, 01:56:50 AM
 #21

The attractiveness of BTC is the transparency.  It is relatively terrifying to understand that practically any observations of BTC's regulation are producing unnecessary terror within the BTC users. Rules and regulations are in access and the users will do best not to panic. It doesn't take to by that way.

I agree with this because most people probably don't know the extent of regulations that's why they are scared. People like the idea that no one controls Bitcoin so the idea of having regulations terrifies some users because they don't want the constraint. An advantage of Bitcoin that most users love is that its free from taxes, and regulations would take it away. Its best to learn and know about the scope of having laws and regulations for Bitcoin because there are both advantages and disadvantages to it.

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July 09, 2017, 03:25:57 AM
 #22

So far, is there a clear regulation from the government?
I have not been able to conclude which government regulation is really meaningful for Bitcoin.
Perhaps there is from you an article that shows the government's regulation for Bitcoin?
Thanks

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July 09, 2017, 02:57:59 PM
 #23

There will be regulation in some countries, less so in others. Regardless of regulation though, it wont stop more than a few transactions being anonymous. People will resist. In some cases regulation will be needed to accelerate adoption.
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July 09, 2017, 08:26:28 PM
 #24

So far, is there a clear regulation from the government?
I have not been able to conclude which government regulation is really meaningful for Bitcoin.
Perhaps there is from you an article that shows the government's regulation for Bitcoin?
Thanks
In some countries the laws are really messed up. The most messed up is probably this situation with money transmitting in the USA, as in some states you can be fined for not having a license, and in some other you can trade at will without one. Also they just can't handle these cases like civilised people, but invade people's homes, steal their stuff and treat them like criminals.
I'm happy that the laws in the EU aren't that crazy and you can trade coins without fear.

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July 10, 2017, 11:02:16 PM
 #25

government regulations could most likely protect bitcoin users from scammers and all other ponzi schemes but i honestly think this would hurt bitcoin business more as they will be exposed to these regulations which might come with fees and make running of a business difficult...this could come out worse than paypal which has the seller protection, but with bitcoin one entity will always come short.
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July 11, 2017, 10:09:29 PM
 #26

So far, is there a clear regulation from the government?
I have not been able to conclude which government regulation is really meaningful for Bitcoin.
Perhaps there is from you an article that shows the government's regulation for Bitcoin?
Thanks
In some countries the laws are really messed up. The most messed up is probably this situation with money transmitting in the USA, as in some states you can be fined for not having a license, and in some other you can trade at will without one. Also they just can't handle these cases like civilised people, but invade people's homes, steal their stuff and treat them like criminals.
I'm happy that the laws in the EU aren't that crazy and you can trade coins without fear.

Actually my friend made a thesis about bitcoin stating all the advantage and disadvantage of it and they even interviewed the BSP (Central Bank) about the regulation of it and its illegality. But our central bank said that they consider bitcoin as property, not money thus not making it not legal tender. Due to this, our country recognizes its use and advantage to the people and also considering it as one of the mediums of exchange. There may be dangers for it like using it for a funding of criminal work but the government now does not see it as a potential THREAT YET.

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October 05, 2017, 10:35:54 PM
 #27

No need to get fear from BTC regulation. It would be beneficial in long run, as there is no fear of banning it. Its price will constantly rise and Investors will get a great monetary benefits. Moreover Incidents like Frauds, thefts etc could easily tacked without much hindrance.


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October 05, 2017, 11:40:23 PM
 #28

Unfortunatelly OP's link doesn't open anymore.

No need to get fear from BTC regulation. It would be beneficial in long run, as there is no fear of banning it. Its price will constantly rise and Investors will get a great monetary benefits. Moreover Incidents like Frauds, thefts etc could easily tacked without much hindrance.

They will tell you only the positive points about the regulamentation. Sooner they achieve what they want you will start seeing the real purposes behind this idea. Most people will be damaged by BTC regulamentation. It's good like it works now, it's not necessary to change anything, people who like bureaucracy should use fiat.

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October 06, 2017, 04:27:21 AM
 #29

regulation it's bad for bitcoin, it's only mean more restriction, i don't like it
Not necessarily. It is commode mistake to confuse regulation with control. These two concepts are not equal.
We need to have some sort of regulation to protect customers and regulate bitcoin based businesses.
Without some form of codified legal status of bitcoin companies mainstream adoption is impossible.
You can clearly see what is happening when there is no supervision - for example just take a look at recent huge cloud mining scam - HashOcean.

This. In my country cryptos are semi-regulated, they have been regulated only as far as users are concerned but not for exchanges. That hasn’t meant more restrictions, you can buy and sell as you wish, the same way as you could do before.

When exchanges are regulated, users will be better protected against scams. Although there will always be scams as well as users who break the law.
I think regulation will bring the other side of the coin: it will help massive adoption and that will come hand in hand with price increase.

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October 08, 2017, 07:57:06 PM
 #30

Awesome article discussing cryptocurrency, Bitcoin and government regulations

http://patrickguy.ultimatepicturecollection.me/025053c7f467dd

Hope y'all get as much out of it as I did Smiley
Cheers
James

Post not work with  me + hope to verify of url Because i’m not see HTTPS on it

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October 14, 2017, 09:14:23 PM
 #31

Most governments are 100% capable of regulating crypto use if they want. They can't eradicate black market use but by regulating bitcoin businesses and enacting laws against consumers they can absolutely curtail use to the point where it effectively disappears.

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November 02, 2017, 03:21:02 AM
 #32

In any case, the states will establish their own rules for the circulation of the crypto currency in each country, whether we want it or not. It can not long ignore the crypto currency and its importance for the country's economy. Therefore, regulation will be unambiguous as it will be established profit tax on operations with crypto currency. This is generally a positive moment for the crypto currency, because in this case, state bodies, including judicial authorities, will have to respect and protect the rights of citizens when storing and using crypto currency. There is simply no other way to develop a crypto currency.

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November 04, 2017, 05:37:06 AM
 #33

So far, is there a clear regulation from the government?
I have not been able to conclude which government regulation is really meaningful for Bitcoin.
Perhaps there is from you an article that shows the government's regulation for Bitcoin?
Thanks
yeah, that's same think with me, I didn't really know it yet about the obvious rules that were applied to bitcoin by the governments of a certain countries, was still seemed vague to me and had not been able to conclude it at all. Maybe we can take or reading more about it from the United States's government?, because the first country to legalize bitcoin is the United States.

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November 04, 2017, 02:59:35 PM
 #34

For my country no any regulations yet. But in my country many young people invest bitcoin and learn bitcoin.
I get benefit after invest bitcoin, is not talked profit only. But we can help the government in economy side, especially unemployment.
I hope in the future, my country will legalized and regulations bitcoin !



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November 04, 2017, 03:24:27 PM
 #35

It is a form of taxing a business by virtue of the police power vested to the government. I think what the government would really like to do is to make money out of Bitcoins since it is undisputed that Bitcoins' value is elevating through time. On the other hand, as for regulatory measures, I cannot vouch on how they will do the execution since online businesses can hardly be put to regulation mainly because of its far-reaching nature.

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November 04, 2017, 04:13:17 PM
 #36

Government regulations may mean nothing for Bitcoins UNLESS they can get hold of a mechanism that can track down Bitcoin users and/or Bitcoin transactions. This is the only way you can be assured that there is indeed an effective execution of governmental regulations. Should these regulations be managed other than that on focusing on the online world, I highly doubt there will any be resolve on the matter on hand. Perhaps I strongly believe that effectively managing the facets of how Bitcoins work is the initial step to forestall further governmental violations.

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November 04, 2017, 04:55:35 PM
 #37

regulation it's bad for bitcoin, it's only mean more restriction, i don't like it
Not necessarily. It is commode mistake to confuse regulation with control. These two concepts are not equal.
We need to have some sort of regulation to protect customers and regulate bitcoin based businesses.
Without some form of codified legal status of bitcoin companies mainstream adoption is impossible.
You can clearly see what is happening when there is no supervision - for example just take a look at recent huge cloud mining scam - HashOcean.
You are that regulation is not equal control. On the other hand we should not forget that if you regulate something tightly you can control it. I'm curious about what ideas will come from individual states. I hope that Japan will be headed and set up a reasonable form of regulation so that other states can inspire.

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November 05, 2017, 08:27:22 AM
 #38

regulation it's bad for bitcoin, it's only mean more restriction, i don't like it

No, Regulating the bitcoin and other digital currencies are not bad for the country but it will ensure the safety of the nation and its citizens by ensuring it will not be use in scams, crimes and other illegal activities such as Money laundering, drugs, weapons and exclusives that might put the people in danger. Some are against the regulation because they are selfish that they are only thinking of their reduced earnings because of taxation and not seeing the entire benefits for everyone in their place.

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November 09, 2017, 11:59:29 AM
 #39

Government regulations may mean nothing for Bitcoins UNLESS they can get hold of a mechanism that can track down Bitcoin users and/or Bitcoin transactions. This is the only way you can be assured that there is indeed an effective execution of governmental regulations. Should these regulations be managed other than that on focusing on the online world, I highly doubt there will any be resolve on the matter on hand. Perhaps I strongly believe that effectively managing the facets of how Bitcoins work is the initial step to forestall further governmental violations.

In order for the government to regulate the use of bitcoin is they need to go as deep as the block chain, they even need to get a record of all the transactions for them to regulate it. I can't see a way for the government to regulate bitcoin without removing its aspect of being decentralized, once they regulate it will be like other fiat currencies.

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November 09, 2017, 04:12:23 PM
 #40

No need to get fear from BTC regulation. It would be beneficial in long run, as there is no fear of banning it. Its price will constantly rise and Investors will get a great monetary benefits. Moreover Incidents like Frauds, thefts etc could easily tacked without much hindrance.

Bitcoin could not be a vacuum unto itself therefore Bitcoin should not be construed like an island that can exist solely on its own and can disregard other entities that are also existing in the real world. We are not living in a dreamy world where we are the only one who can make the rules. Sad to say, there are still the governments we have to attend to and since we still need the fiat money where Bitcoin can be converted with we still also be dealing with financial institutions. and they have the rules we need to follow otherwise we can be declared as doing illegal things. Nobody does not want to go to jail just because he/she is involved with Bitcoin and not following the rules established by those in power. Reality bites, yes!

Regulations in exchange for allowing the conduct of the usual Bitcoin selling, trading and all the things in between, can indeed be better compared to the ban made by China last September. There is a need to compromise otherwise there is a possibility for clamping down the business and that is not something we all want to go though. Nobody in the Bitcoin community would want to have some sort of a struggle with the government (just like fighting a dictator or a deranged government). We are not desiring the creation of Bitcoin martyrs.

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