Will regulation make bitcoin slower?

[Whosdaddy]

PayPal is required to hold funds for 48 hours before auto-withdrawing it to receiver's account as per Central Bank's guidlines in my country.
If government regulates bitcoin,will it also become slower for government may ask online wallet and exchanges to hold bitcoin for some stipulated time?

bitcoin can stand alone. bitcoin system has a feature that allows each transaction is not affected by other things. with the system, the government can not control the movement of bitcoin. the task of supervising the government only.

Of course government cannot contol bitcoin but they can contol wallet and exchanges that operates in their country and force them to do many things like deferring bitcoin transaction by holding them at their end

Loophole is that not all exchange platforms and wallets are not operated in only one country.  We can just always avoid those wallets that are operating under that certain government. And besides, even in every single country decided to regulate the wallets and exchange platforms, we're only going to be doing everything in our power to go around it.

[groll]

PayPal is required to hold funds for 48 hours before auto-withdrawing it to receiver's account as per Central Bank's guidlines in my country.
If government regulates bitcoin,will it also become slower for government may ask online wallet and exchanges to hold bitcoin for some stipulated time?

bitcoin can stand alone. bitcoin system has a feature that allows each transaction is not affected by other things. with the system, the government can not control the movement of bitcoin. the task of supervising the government only.

Of course government cannot contol bitcoin but they can contol wallet and exchanges that operates in their country and force them to do many things like deferring bitcoin transaction by holding them at their end

You hit the jackpot my friend. The government can regulate all sites that host wallet. They will give terms and conditions that must be followed by users. Also if you dont follow the guidelines your wallet may be blocked. Lastly if government will regulate bitcoin, some wallets that are not aligned with a certain countries condition will not be allowed to render their services in that country.

[sobsitesearch]

PayPal is required to hold funds for 48 hours before auto-withdrawing it to receiver's account as per Central Bank's guidlines in my country.
If government regulates bitcoin,will it also become slower for government may ask online wallet and exchanges to hold bitcoin for some stipulated time?

bitcoin can stand alone. bitcoin system has a feature that allows each transaction is not affected by other things. with the system, the government can not control the movement of bitcoin. the task of supervising the government only.

Of course government cannot contol bitcoin but they can contol wallet and exchanges that operates in their country and force them to do many things like deferring bitcoin transaction by holding them at their end

You hit the jackpot my friend. The government can regulate all sites that host wallet. They will give terms and conditions that must be followed by users. Also if you dont follow the guidelines your wallet may be blocked. Lastly if government will regulate bitcoin, some wallets that are not aligned with a certain countries condition will not be allowed to render their services in that country.

There is already have rules and regulation here in my country of bitcoin wallet i used but they can not control the transaction to be made by its users and also the speed of the transaction its because bitcoin it self have securities for every transaction made by all users.

[btvGainer]

PayPal is required to hold funds for 48 hours before auto-withdrawing it to receiver's account as per Central Bank's guidlines in my country.
If government regulates bitcoin,will it also become slower for government may ask online wallet and exchanges to hold bitcoin for some stipulated time?

bitcoin can stand alone. bitcoin system has a feature that allows each transaction is not affected by other things. with the system, the government can not control the movement of bitcoin. the task of supervising the government only.

Of course government cannot contol bitcoin but they can contol wallet and exchanges that operates in their country and force them to do many things like deferring bitcoin transaction by holding them at their end

Loophole is that not all exchange platforms and wallets are not operated in only one country.  We can just always avoid those wallets that are operating under that certain government. And besides, even in every single country decided to regulate the wallets and exchange platforms, we're only going to be doing everything in our power to go around it.

But if we dont store or tranfer our bitcoin with government regulated licenced exchanges,our bitcoin earnings will be declared illegal.To avoid any legal problems,one would have to choose government licensed wallets

[xuan87]

Yes it will make bitcoin transaction slower, without the interfere from government the bitcoin transaction is already slow, if add another regulation then the transaction will  become slower and if it pending until days then the bitcoin user will find another coin to invest and to do transaction, this is not a great news for bitcoin future

[Sniper44]

PayPal is required to hold funds for 48 hours before auto-withdrawing it to receiver's account as per Central Bank's guidlines in my country.
If government regulates bitcoin,will it also become slower for government may ask online wallet and exchanges to hold bitcoin for some stipulated time?

bitcoin can stand alone. bitcoin system has a feature that allows each transaction is not affected by other things. with the system, the government can not control the movement of bitcoin. the task of supervising the government only.

Of course government cannot contol bitcoin but they can contol wallet and exchanges that operates in their country and force them to do many things like deferring bitcoin transaction by holding them at their end

Loophole is that not all exchange platforms and wallets are not operated in only one country.  We can just always avoid those wallets that are operating under that certain government. And besides, even in every single country decided to regulate the wallets and exchange platforms, we're only going to be doing everything in our power to go around it.

But if we dont store or tranfer our bitcoin with government regulated licenced exchanges,our bitcoin earnings will be declared illegal.To avoid any legal problems,one would have to choose government licensed wallets

this doesn't even make any sense!!!
you are saying if we don't want the government to call our earning illegal we have to put them on an exchange site :O
storing or even transferring your bitcoin to an exchange site is the riskiest thing you can ever do, and being regulated or not will not prevent them from scamming you and running away and government will not do anything for you then.

[raphma]

I disagree, bitcoin can certainly be regulated.  You just watch.

As far as OP goes, when I sell something on Ebay I have immediate access to my money.  So that must vary among countries, and I'm sure if a bank or whatever decided to start using bitcoin as a currency, its use could be regulated just like this.  At least that's how I imagine it--and I'm not an economist or politician, so take my opinion for exactly how much you paid for it.

i don't agree.. there is a difference in being traceable and being regulable. Government can and will try to trace you bitcoins but they definitely can't force/prohibit withdrawals and deposits, specially in offline wallets.

[jak3]

first thing i will say is bitcoin can never be regulated by anyone if it did then yes it willl slow down the network and on the second thoughts if government regulates it then they are probably will take care about our coins like help us if   we got robbed or something like that

[pereira4]

It does not matter if they regulate it, people will find other services taht don't have annoying regulations and will use those. Government regulation attempts against Bitcoin are futile.

[Dudeperfect]

We should consider few things before discussing about this issue. Does bitcoin needs regulation? If yes then on what terms bitcoin regulation will be based on? If no then how it’s going to affect the traditional economic contribution (taxes).

I personally don’t think that this currency needs a regulator but we as a community should solve few major problems like misuse of the anonymity and we can’t really afford to have the investors from criminal side (because governments will have the official reason to kill bitcoin). Bitcoin is evolving and this is the best period to shape its future, we must act in short term to solve long term problems if we really care about it.

[MingLee]

It does not matter if they regulate it, people will find other services taht don't have annoying regulations and will use those. Government regulation attempts against Bitcoin are futile.

It's true, most people would bail from those services and opt to go and use other businesses that simply ignore the regulations one way or another, and then if the government was to try and stop that, people would go to another site. It's like what happened with the Silk road; it was shut down, another started up, then that one was shut down and another started. You can't win a fight like that.

[shinratensei_]

PayPal is required to hold funds for 48 hours before auto-withdrawing it to receiver's account as per Central Bank's guidlines in my country.
If government regulates bitcoin,will it also become slower for government may ask online wallet and exchanges to hold bitcoin for some stipulated time?

bitcoin can stand alone. bitcoin system has a feature that allows each transaction is not affected by other things. with the system, the government can not control the movement of bitcoin. the task of supervising the government only.

Of course government cannot contol bitcoin but they can contol wallet and exchanges that operates in their country and force them to do many things like deferring bitcoin transaction by holding them at their end

Loophole is that not all exchange platforms and wallets are not operated in only one country.  We can just always avoid those wallets that are operating under that certain government. And besides, even in every single country decided to regulate the wallets and exchange platforms, we're only going to be doing everything in our power to go around it.

But if we dont store or tranfer our bitcoin with government regulated licenced exchanges,our bitcoin earnings will be declared illegal.To avoid any legal problems,one would have to choose government licensed wallets

too bad it is simple to tumble coins, I'd just exchange them for an altcoin that isn't as regulated as soon as possible and I am sure many others would as well.

Or you just don't deposit your bitcoin to any exchange and sell it, but use bitcoin as currency instead.
Might use Tor/VPS to avoid government track.

More of a possibility if it is big enough for the government to regulate so much. A lot of stores would have to accept for them to pay attention.

And that is a big impact from the regulate of government, but the government will trying to curb the latitude of bitcoin users in their region.

[lexuz]

No one can regulate bitcoin even one days government will adopt bitcoin, they can't track all transaction are made by bitcoin.

[Kprawn]

PayPal is required to hold funds for 48 hours before auto-withdrawing it to receiver's account as per Central Bank's guidlines in my country.
If government regulates bitcoin,will it also become slower for government may ask online wallet and exchanges to hold bitcoin for some stipulated time?

bitcoin can stand alone. bitcoin system has a feature that allows each transaction is not affected by other things. with the system, the government can not control the movement of bitcoin. the task of supervising the government only.

Of course government cannot contol bitcoin but they can contol wallet and exchanges that operates in their country and force them to do many things like deferring bitcoin transaction by holding them at their end

Loophole is that not all exchange platforms and wallets are not operated in only one country.  We can just always avoid those wallets that are operating under that certain government. And besides, even in every single country decided to regulate the wallets and exchange platforms, we're only going to be doing everything in our power to go around it.

But if we dont store or tranfer our bitcoin with government regulated licenced exchanges,our bitcoin earnings will be declared illegal.To avoid any legal problems,one would have to choose government licensed wallets

too bad it is simple to tumble coins, I'd just exchange them for an altcoin that isn't as regulated as soon as possible and I am sure many others would as well.

Or you just don't deposit your bitcoin to any exchange and sell it, but use bitcoin as currency instead.
Might use Tor/VPS to avoid government track.

More of a possibility if it is big enough for the government to regulate so much. A lot of stores would have to accept for them to pay attention.

And that is a big impact from the regulate of government, but the government will trying to curb the latitude of bitcoin users in their region.

They already did this successfully with the BitLicense regulations in New York. They implemented these completely absurd regulations that was so complex that people had to use external advisors to

help them to adhere to it. They also put a barrier to entry for this privilege, by combining this with a high fee structure. Just to make it more intriguing ... the very person who implemented these

complex regulations, then created his own consultancy firm, to charge people to help them to adhere to it... how convenient.    

[shield132]

PayPal is required to hold funds for 48 hours before auto-withdrawing it to receiver's account as per Central Bank's guidlines in my country.
If government regulates bitcoin,will it also become slower for government may ask online wallet and exchanges to hold bitcoin for some stipulated time?

bitcoin can stand alone. bitcoin system has a feature that allows each transaction is not affected by other things. with the system, the government can not control the movement of bitcoin. the task of supervising the government only.

Yes, goverment can't control bitcoin but thay can make regulations on it, but regulations won't make bitcoin slow and there is always a way to solve problem. Also I think that goverment don't want to control transactions, even they need such a similar sing to blanch money.

[vdotcash]

I disagree, bitcoin can certainly be regulated.  You just watch.

As far as OP goes, when I sell something on Ebay I have immediate access to my money.  So that must vary among countries, and I'm sure if a bank or whatever decided to start using bitcoin as a currency, its use could be regulated just like this.  At least that's how I imagine it--and I'm not an economist or politician, so take my opinion for exactly how much you paid for it.

It would be like USA Alcohol Prohibition, Bitcoin would be larger underground and more of a problem than if it were to be left alone.

[xdrpx]

The Government can't directly regulate Bitcoins or how we spend it or where we can use it and how much of it can we take with us if we're crossing international borders, but indirectly, they can regulate exchanges that trade in Bitcoins. They could impose KYC/KML and they already have, and also probably limit how much a user can withdraw or bring into the country as fiat. It'd be tough unless there's a decentralized exchange.

[jukka]

there will be regulations for sure. how effective they will be remains to be seen. still i dont think that regulations will make btc slower.

[Tanic]

I think if governmant start to regulate it - trasactions with bitcoin will be slower as in PayPal. All this made to find transactions with a big money, cause for them it may look very suspicious, that is gonna help to find criminals.

[magemist]

It will not make it slower it will just inhibit it from being as free to use as it is now.
Congress always seems to make things more complicated then what they should be.