btc authority

[bitnewgirl]

Do you think that it will be created a btc regulatory authority in the future or will the blockchain continue to be the only warranty?

[Lutpin]

The point of BTC is to NOT have this.

[bitnewgirl]

The point of BTC is to NOT have this.

I know, but as people, governments and states are becoming more and more aware of the potentional of btc, do you think that they'll just let it be o will they try to create some sort of superstructure to it?

[Qartersa]

Correct me if I'm wrong, but I think this is possible to do. Also, Lutpin is right. The main point of Bitcoin is not to have an authority.

[chaser15]

The point of BTC is to NOT have this.

I know, but as people, governments and states are becoming more and more aware of the potentional of btc, do you think that they'll just let it be o will they try to create some sort of superstructure to it?

If the status of bitcoin will become more superpower in the future, government for will surely create some things associated with that authority thing or any related terms.

They can't do it directly with bitcoin but they will target those local exchangers or those who has some services that people in a certain country can able to use or convert bitcoin into fiat. As long as local exchangers will pay the right taxes, everything will be fine. Local exchangers are bound to commit with the country's money regulation so that their company will legitimate run. And because of that regulations, local exchangers will modify their fees to cover the expenses.

[BellaBitBit]

The point of BTC is to NOT have this.

THIS. Please people stop associating the word "authority" with bitcoin.

[Hazir]

Some people here are confusing having an overseer or some centralized committee - which makes decision in the name of Bitcoin with laws and legislation which are NEEDED to push global adoption further.
Bitcoin doesn't need authority or some guardian for blockchain, it needs serious laws to push it out of gray area, prevent scams and to make use of BTC easier for everyone.

[~Bitcoin~]

Actually even if government tries to control bitcoin they can't do it as bitcoin can't be centralized for sure.

What they may start to build after seeing the potential of bitcoin/blockchain is blockchain based financial system with centralized system replacing decentralization like bitcoin have and forcing their citizens to start using their centralized system rather than bitcoin. Many banks have already started to promote their centrally controlled blockchain based payment system (visa blockchain based b2b system) as similar to bitcoin network and providing similar features.

Government and banks are only interested in blockchain technology behind bitcoin not to bitcoin.

[Greenenergy]

Even if someone wanted to do it or I don't know, that would be impossible, or we wouldn't call that Bitcoin.

[tee-rex]

The point of BTC is to NOT have this.

I know, but as people, governments and states are becoming more and more aware of the potentional of btc, do you think that they'll just let it be o will they try to create some sort of superstructure to it?

It seems to me that Bitcoin is not flying that high for authorities to be concerned about creating a special body or agency to supervise or control it, at least, so far. Its market cap is tiny, a lot of public companies have capitalization by far greater than Bitcoin. On the other hand, if Bitcoin has in fact been created by the NSA or CIA, they must have been covertly controlling it from the very beginning.

[Carlton Banks]

The point of BTC is to NOT have this.

I know, but as people, governments and states are becoming more and more aware of the potentional of btc, do you think that they'll just let it be o will they try to create some sort of superstructure to it?

Someone will try. They will fail. (a soft authority, "The Bitcoin Foundation" was an early attempt. It failed)

[Slark]

Someone will try. They will fail. (a soft authority, "The Bitcoin Foundation" was an early attempt. It failed)

Bitcoin foundation was an attempt to provide advocacy to the cryptocurrency. Something that is still needed today.
But they had too many internal problems (they focused on development more instead or promoting BTC and achieving social acceptance) and sullied their own name with the scandals of board members.

Ethereum has its own Foundation and it is working just fine.

[Kprawn]

Someone will try. They will fail. (a soft authority, "The Bitcoin Foundation" was an early attempt. It failed)

Bitcoin foundation was an attempt to provide advocacy to the cryptocurrency. Something that is still needed today.
But they had too many internal problems (they focused on development more instead or promoting BTC and achieving social acceptance) and sullied their own name with the scandals of board members.

Ethereum has its own Foundation and it is working just fine.

I would rather say, the Foundation was established to fill some individuals pockets with donations received from the community. We saw

admin secretaries paying huge amounts of money and everything went to shit after the money bags were emptied. OP, these kinds of

"Authority" figures are not good for a decentralized system like Bitcoin. Central figure heads, gets targeted and/or corrupted and then

everything goes to shit again. 

[Carlton Banks]

Someone will try. They will fail. (a soft authority, "The Bitcoin Foundation" was an early attempt. It failed)

Bitcoin foundation was an attempt to provide advocacy to the cryptocurrency. Something that is still needed today.

No it isn't. Good products sell themselves. Bitcoin is an excellent product, and it's built up it's userbase in spite of a bad reception from the mainstream.

[RodeoX]

Someone will try. They will fail. (a soft authority, "The Bitcoin Foundation" was an early attempt. It failed)

Bitcoin foundation was an attempt to provide advocacy to the cryptocurrency. Something that is still needed today.
...

I think Slark has the right term here. Advocacy not authority. No entity has any authority over BTC. No one can change the supply, distribution, usage rights. These things are coded into the protocol and could only change with overwhelming community consensus. 

[Carlton Banks]

Someone will try. They will fail. (a soft authority, "The Bitcoin Foundation" was an early attempt. It failed)

Bitcoin foundation was an attempt to provide advocacy to the cryptocurrency. Something that is still needed today.
...

I think Slark has the right term here. Advocacy not authority. No entity has any authority over BTC. No one can change the supply, distribution, usage rights. These things are coded into the protocol and could only change with overwhelming community consensus. 

No, you've both got it wrong. If Bitcoin is really better than using fiat currency or payment networks, then it doesn't need any promotion besides word-of-mouth. And everyone knows that word-of-mouth is the most trustworthy form of advocacy; you don't hear word-of-mouth recommendations from people that aren't your friends.

[tiggytomb]

This will not happen, not direct control of bitcoin anyway.  The best they can do is to put regulations and restrictions on exchanges and business.

[electronicash]

banks as far as i know now are considering to create their own blockchain so they may not have to control bitcoin if this is indeed real.
and its better if they just create as well. fiat is much worse because those are money that can't be tagged for which there will be no records like online ledgers.

[Chronobank]

I hope the regulators are understands that this is a useless way, otherwise they will spend the time and a lot of money of their taxpayers.

[Milkduds]

The point of BTC is to NOT have this.

I know, but as people, governments and states are becoming more and more aware of the potentional of btc, do you think that they'll just let it be o will they try to create some sort of superstructure to it?

If government steps in to regulate,they would most likely adopt a similar crypto with their rules in place.
They would also start a campaign explaining how bad bitcoin is and what sleazy perverts use it for and why its better to use Sheepcoin instead.
If people want to regulate and get down with government they are not bitcoin fans at all.