possible government regulations?

[freedomgo]

Bitcoin is relatively new compared to any currency, gold was the currency of choice for thousands of years until people fell in the trap of fiat money not backed by anything, but given enough time bitcoin could pose an even greater treat for its decentralized nature.

Yes it is new and they should study first the implication. We know many people are discovering this bitcoin and finding opportunity in it. Though it is good that they regulate it is also for our own good.

Government can easily study it as they have a lot of intelligent people but what we hope is just they will judge it with fairness and see the value rather than the negative usage of it, it can certainly help a lot of people as by nature it's not an investment but a currency, the remittance worldwide can be done in bitcoin so they should see that.

[piloder]

Actually what government can do is just limit the amount that can be bought or sold per day as they can't just ban the use of bitcoin or stop bitcoin network. However these limitations may not effect the volume of bitcoin that can be transferred between two parties anonymously.

Talking about effect of politics on price of bitcoin we have already seen several situations where political decision and even the latest US election had some effect on price.

[X-ray]

Bitcoin is relatively new compared to any currency, gold was the currency of choice for thousands of years until people fell in the trap of fiat money not backed by anything, but given enough time bitcoin could pose an even greater treat for its decentralized nature.

actually century ago for every money printed the country which printing will be obligated to have gold-reserve and have the exact ratio and that's what gives the currency a value but unfortunately this system had been abolished and the fiat currency is now just a game about demand and supply

[PokerFace3]

Bitcoin is relatively new compared to any currency, gold was the currency of choice for thousands of years until people fell in the trap of fiat money not backed by anything, but given enough time bitcoin could pose an even greater treat for its decentralized nature.

actually century ago for every money printed the country which printing will be obligated to have gold-reserve and have the exact ratio and that's what gives the currency a value but unfortunately this system had been abolished and the fiat currency is now just a game about demand and supply

No, still governments are printing money based on their gold holding, there maybe some exceptions but if they fail to follow the basics of economics, collaspe of their nation's economy will be inevitable.

Currency notes are just being used as the medium of exchange for an economic system, an excessive medium of exchange might lead to deflation which is more dangerous like, you will have more money but shops will not have enough food to buy with it.

[usefrees]

Fiat is strictly regulated by the government. And issuer Fiat - only the government. Cryptocurrency he can not control, but can be taxed

[Slark]

Since bitcoin and other digital currencies are such a game changer for the traditional economics systems, could there be any government policies that can be devastating to this new market? and even if governments in North America or Europe might not be able to do such things, how about policies from other more centralized countries that could bring the same effect?

Let's be honest here. Cryptocurrency is real game changer only when/if people will follow. As for now it is insignificant phenomenon used by few people - compared to standard banking.
Do we really think that regulation is needed for less than (most likely) 10 million of bitcoin users and even less altcoin users?

Plus, the only countries which potentially - by introducing some bitcoin related laws - can change rules of the game with cryptos are US and China.

[tee-rex]

Actually what government can do is just limit the amount that can be bought or sold per day as they can't just ban the use of bitcoin or stop bitcoin network. However these limitations may not effect the volume of bitcoin that can be transferred between two parties anonymously.

And how could they possibly limit the amount of bitcoins bought by an individual? If you buy bitcoins on a Bitcoin exchange, that would basically mean the governmental control over the exchange, correct? But what if this exchange is located in another country or even in another corner of the world? Even if it were possible somehow, that would be prohibitively expensive to install such controls.

Talking about effect of politics on price of bitcoin we have already seen several situations where political decision and even the latest US election had some effect on price.

We may have yet to see the real impact of the US elections on Bitcoin price after Trump starts fulfilling his threats towards China.

[shyich03]

I am being imaginative, but can government intervene mining? or even replace tax with mining fees if bitcoin becomes the main stream of economy,m since bitcoin transactions are hard to tax?

[tee-rex]

I am being imaginative, but can government intervene mining? or even replace tax with mining fees if bitcoin becomes the main stream of economy,m since bitcoin transactions are hard to tax?

Which government do you refer to?

In many countries like the United States or European Union Bitcoin is already regulated to some degree. Regarding Bitcoin becoming mainstream, this is unlikely to happen any time soon because it apparently means displacement of fiat currencies, but no government will ever agree to this. Why would they want to replace the currency which they can fully control with something they can't control?

[South Park]

Bitcoin is relatively new compared to any currency, gold was the currency of choice for thousands of years until people fell in the trap of fiat money not backed by anything, but given enough time bitcoin could pose an even greater treat for its decentralized nature.

Yes it is new and they should study first the implication. We know many people are discovering this bitcoin and finding opportunity in it. Though it is good that they regulate it is also for our own good.

Government can easily study it as they have a lot of intelligent people but what we hope is just they will judge it with fairness and see the value rather than the negative usage of it, it can certainly help a lot of people as by nature it's not an investment but a currency, the remittance worldwide can be done in bitcoin so they should see that.

I think is very unlikely we are going to get a fair assessment by any government, since governments and banks only want to things to keep their power and to acquire even more power and bitcoin is a threat to those objectives.

[toy4lov3rs]

Bitcoin is relatively new compared to any currency, gold was the currency of choice for thousands of years until people fell in the trap of fiat money not backed by anything, but given enough time bitcoin could pose an even greater treat for its decentralized nature.

Yes it is new and they should study first the implication. We know many people are discovering this bitcoin and finding opportunity in it. Though it is good that they regulate it is also for our own good.

Government can easily study it as they have a lot of intelligent people but what we hope is just they will judge it with fairness and see the value rather than the negative usage of it, it can certainly help a lot of people as by nature it's not an investment but a currency, the remittance worldwide can be done in bitcoin so they should see that.

I think is very unlikely we are going to get a fair assessment by any government, since governments and banks only want to things to keep their power and to acquire even more power and bitcoin is a threat to those objectives.

They have enough people to study it to tell them it's a minor force, something that may grow and should be watched, but I don't think they're on high alert. :/

[delliaerd]

I am being imaginative, but can government intervene mining? or even replace tax with mining fees if bitcoin becomes the main stream of economy,m since bitcoin transactions are hard to tax?

Which government do you refer to?

In many countries like the United States or European Union Bitcoin is already regulated to some degree. Regarding Bitcoin becoming mainstream, this is unlikely to happen any time soon because it apparently means displacement of fiat currencies, but no government will ever agree to this. Why would they want to replace the currency which they can fully control with something they can't control?

Yes,  I am agree with you friends.  That will be bad deal for them. Goverment need the tax to build infrastructure of their country but some of country are take high rate in tax. They will get difficulty to trace bitcoin transaction. Goverment  will choose the one that can give them benefit and full of control. The fact is bitcoin give so many advantage to the users but no to goverment.

[leonair]

I am being imaginative, but can government intervene mining? or even replace tax with mining fees if bitcoin becomes the main stream of economy,m since bitcoin transactions are hard to tax?

Which government do you refer to?

In many countries like the United States or European Union Bitcoin is already regulated to some degree. Regarding Bitcoin becoming mainstream, this is unlikely to happen any time soon because it apparently means displacement of fiat currencies, but no government will ever agree to this. Why would they want to replace the currency which they can fully control with something they can't control?

Yes,  I am agree with you friends.  That will be bad deal for them. Goverment need the tax to build infrastructure of their country but some of country are take high rate in tax. They will get difficulty to trace bitcoin transaction. Goverment  will choose the one that can give them benefit and full of control. The fact is bitcoin give so many advantage to the users but no to goverment.

What if there is an evil geek that will enter the politics and make a law about taxing the cryptocurrency industry, just a wild imagination my friends.

[Ereacia]

No I do not think there will be any regulations to be honest because its something they cannot forbid and its also becoming bigger and bigger and its good for the economy in my eyes.

[arseaboy]

No I do not think there will be any regulations to be honest because its something they cannot forbid and its also becoming bigger and bigger and its good for the economy in my eyes.

Yeah it's true that bitcoin community is getting bigger everyday and we are also hopijg that no government will interfere with us otherwise there will be such a lot of changes and maybe even our freedom in bitcoin will taken away.

[transabox]

No I do not think there will be any regulations to be honest because its something they cannot forbid and its also becoming bigger and bigger and its good for the economy in my eyes.

Yeah it's true that bitcoin community is getting bigger everyday and we are also hopijg that no government will interfere with us otherwise there will be such a lot of changes and maybe even our freedom in bitcoin will taken away.

I am also against the government cryptocurrency control. Knowing the government's methods, I'm sure it's no good will not. While some see this as a positive. And they say that since the Government recognizes Bitcoin

[jondeen707]

The best case scenario would be if governments just tax whatever you are actually earning in bitcoin, but not regulate the Bitcoin's ecosystem. That looks like what the US government is doing with bitcoin license being one major exception.

[el kaka22]

The best case scenario would be if governments just tax whatever you are actually earning in bitcoin, but not regulate the Bitcoin's ecosystem. That looks like what the US government is doing with bitcoin license being one major exception.

Yes, regulating bitcoin usage as an illegal is not practically possible for any government as it would be too hard for them to stop people using bitcoins. We do here people from bitcoin banned countries are still using/saving bitcoins.

Still, taxes on bitcoin will be only possible when people are encashing it, when a bitcoiner spends bitcoin definitely does not need to pay taxes as using bitcoins is always possible by keeping his anonymity.

[tee-rex]

The best case scenario would be if governments just tax whatever you are actually earning in bitcoin, but not regulate the Bitcoin's ecosystem. That looks like what the US government is doing with bitcoin license being one major exception.

Yes, regulating bitcoin usage as an illegal is not practically possible for any government as it would be too hard for them to stop people using bitcoins. We do here people from bitcoin banned countries are still using/saving bitcoins.

Still, taxes on bitcoin will be only possible when people are encashing it, when a bitcoiner spends bitcoin definitely does not need to pay taxes as using bitcoins is always possible by keeping his anonymity.

I think the weakest link in the Bitcoin chain is miners. Mining, and I mean real mining which involves large scale mining farms, is not like your online business which is hard to find but easy to hide. Such mining always has some physical presence, so the authorities could just levy taxes on every coin people are going to mine, and that would basically mean that all new bitcoins will be taxed.

[TastyChillySauce00]

No I do not think there will be any regulations to be honest because its something they cannot forbid and its also becoming bigger and bigger and its good for the economy in my eyes.

Yeah it's true that bitcoin community is getting bigger everyday and we are also hopijg that no government will interfere with us otherwise there will be such a lot of changes and maybe even our freedom in bitcoin will taken away.

I am also against the government cryptocurrency control. Knowing the government's methods, I'm sure it's no good will not. While some see this as a positive. And they say that since the Government recognizes Bitcoin

don't need to worry,bitcoin system is decentralized,it will can't be controlled by the government unless government are owning the majority of coins and even having majority of mining powers,otherwise the control is not fully functional and useful to do anything