Bitcoin Regulation

[Mia Wallace]

With more countries accepting bitcoin and regulating it ,the current price rise is simply because more countries are accepting it and with the regulation of bitcoin in Japan we saw how things have changed all of a sudden from the price ranging around thousand dollars after the regulation the price jumped over to two thousand dollars and with more countries legalizing bitcoin expect more price growth.

[Gotottack]

Sandeep Goenka, cofounder and chief operating officer at Zebpay said:
“The increasing awareness of bitcoins worldwide, particularly about its revolutionary technology, has triggered a rally in the bitcoin market...Japan has now added itself to the list of countries that have regulations for bitcoins. Due to these positive factors, bitcoin prices have been showing tremendous strength.”
  Meaning further rise!

Popularity has really brought bitcoins where it is today. Not only popularity but it really addresses a lot of things in the global financial industry. Payments could be more secure and quicker if we allow something like bitcoin to be the main currency for international trade.

Right now Japan was the first to recognize bitcoins and regulated it, I hope the whole world is next!

[soul-impact]

With more countries accepting bitcoin and regulating it ,the current price rise is simply because more countries are accepting it and with the regulation of bitcoin in Japan we saw how things have changed all of a sudden from the price ranging around thousand dollars after the regulation the price jumped over to two thousand dollars and with more countries legalizing bitcoin expect more price growth.

Not only Japan, Korea is also a similar country, althougt the value of bitcoin in this place is more different than the price on the world market. As soon as the bitcoin was accepted by the government, the locals immediately bought a lot of bitcoin  which caused the demand for bitcoin to be too high, the market could not meet, and it pushed the bitcoin out of control.

[Gotottack]

With more countries accepting bitcoin and regulating it ,the current price rise is simply because more countries are accepting it and with the regulation of bitcoin in Japan we saw how things have changed all of a sudden from the price ranging around thousand dollars after the regulation the price jumped over to two thousand dollars and with more countries legalizing bitcoin expect more price growth.

Not only Japan, Korea is also a similar country, althougt the value of bitcoin in this place is more different than the price on the world market. As soon as the bitcoin was accepted by the government, the locals immediately bought a lot of bitcoin  which caused the demand for bitcoin to be too high, the market could not meet, and it pushed the bitcoin out of control.

Did Korea already have regulation on bitcoins?

I'll read up on this as I never heard a regulation there yet. Anyway, the prices will go up definitely as they don't have enough supply there. So they have to find alternatives to buy it which means it would be more expensive due to fees in buying from international sources.

[Eternu]

Sandeep Goenka, cofounder and chief operating officer at Zebpay said:
“The increasing awareness of bitcoins worldwide, particularly about its revolutionary technology, has triggered a rally in the bitcoin market...Japan has now added itself to the list of countries that have regulations for bitcoins. Due to these positive factors, bitcoin prices have been showing tremendous strength.”
  Meaning further rise!

It was expected, i mean bitcoin is growing so fast. When i started dealing with bitcoin price was somewhat near 400 dollars. And look at it now, its near 3000 dollars, which is amazing. But that would not be possible if bitcoin was not good. It will grow even more, and i hope to see that, maybe make some money on the side with it . GO GO Bitcoin!

[frowsiter]

That is a good thing for miners and bitcoin earners around the world. If countries keep adding themselves in the bitcoin tree then it would be rewarding for us. Bitcoin awareness is really important for healthy economic conditions of bitcoin itself. Because investing into bitcoin makes it more sustainable for growth and the rise in price occurs. People are finding employment through bitcoin income and making the growth that would never have been possible with real job salary. It's good thing.

[Lizzie_Girl]

Bitcoins can never be regulated. How will someone know I bought 1 btc worth of something from you ? Only the exchange to fiat can he regulated like others here have said. Even then... It's going to he a bit hard. I don't know why you see this as a good thing. I don't want to be regulated.

[TravelMug]

Bitcoins can never be regulated. How will someone know I bought 1 btc worth of something from you ? Only the exchange to fiat can he regulated like others here have said. Even then... It's going to he a bit hard. I don't know why you see this as a good thing. I don't want to be regulated.

Regulations happened when you want to convert your btc to your local fiat. So you need an exchangers to accomplished this. Exchangers then will require you to submit document for KYC and AML. So there is regulations. You will need to comply with the regulations of KYC and AML by law, otherwise you can't used exchangers to convert your btc to fiat.

[Yakamoto]

Sandeep Goenka, cofounder and chief operating officer at Zebpay said:
“The increasing awareness of bitcoins worldwide, particularly about its revolutionary technology, has triggered a rally in the bitcoin market...Japan has now added itself to the list of countries that have regulations for bitcoins. Due to these positive factors, bitcoin prices have been showing tremendous strength.”
  Meaning further rise!

Not sure how this is related to Bitcoin regulation but whatever. Seems more just like discussing Japan getting some laws in place to dictate Bitcoin, and that could be made a lot clearer, but whatever.

It's good to see that they passed the bill or whatever it is through their governmental system, it's also interesting to see that they're the ones who triggered such an incredible rally, if that statement is true. Seems like Japan has been the center of two impressive events within the Bitcoin community so far. Neat.

[malikusama]

The more people are getting aware of it and start using it the more the price will rise. This shows a very positive response from worldwide, many countries started accepting it as a legal currency and many more countries will do the same in future.

[the rise]

I think politically where the power of the world is currently centered in America and Russia, if one or both of these states organize bitcoin, automatically all countries will do the same. I was a little disappointed with the SEC attitude in March, but I believe the bitcoin road is still bright because the attitude of Russian government is very positive towards the end of this year. I think next year is the beginning of bitcoin glory at the door of world economic regulation.

There should be an initiative like the Japan govt to make other countries aware of bitcoin.

[agustina2]

Sandeep Goenka, cofounder and chief operating officer at Zebpay said:
“The increasing awareness of bitcoins worldwide, particularly about its revolutionary technology, has triggered a rally in the bitcoin market...Japan has now added itself to the list of countries that have regulations for bitcoins. Due to these positive factors, bitcoin prices have been showing tremendous strength.”
  Meaning further rise!

And because of that, we can expect that more merchants will accept bitcoin. We can also expect an increase in users while years passing by. The recent events really bring more popularity and awareness about what bitcoin really is. Im excited to see what will happen on August, is it breakthrough or will just a reason for bitcoin price to decrease much?

Actually a simple accepting of this currency is a good thing to see even it's not been regulated meaning it can be freely used on a certain country. There are lots of countries today where bitcoin is freely used but still not regulated.

[FasTroy]

The more people are getting aware of it and start using it the more the price will rise. This shows a very positive response from worldwide, many countries started accepting it as a legal currency and many more countries will do the same in future.

Yes, I agree with you, the number of people who use bitcoin increase each day, so automatically the price will go up. I think with this step, many countries will start accepting bitcoin like a worldwide legal currency, like Japan for exemple.

[Sir Legend]

The more people are getting aware of it and start using it the more the price will rise. This shows a very positive response from worldwide, many countries started accepting it as a legal currency and many more countries will do the same in future.

Yes, I agree with you, the number of people who use bitcoin increase each day, so automatically the price will go up. I think with this step, many countries will start accepting bitcoin like a worldwide legal currency, like Japan for exemple.

It looks like a long steps still need, current cost receiving and sending bitcoin's getting expensive because more than 200k transaction is unconfirmed, I am worry if the user increase up to 200% this year, it took a month to accept bitcoin with normal fees.

[megynacuna]

The more people are getting aware of it and start using it the more the price will rise. This shows a very positive response from worldwide, many countries started accepting it as a legal currency and many more countries will do the same in future.

Yes, I agree with you, the number of people who use bitcoin increase each day, so automatically the price will go up. I think with this step, many countries will start accepting bitcoin like a worldwide legal currency, like Japan for exemple.

It looks like a long steps still need, current cost receiving and sending bitcoin's getting expensive because more than 200k transaction is unconfirmed, I am worry if the user increase up to 200% this year, it took a month to accept bitcoin with normal fees.

Well with the current rate at which new people are joining Bitcoin and the increased number of unconfirmed transactions I think you should brace yourself for persistent increases in transaction fees unless the prices and demand comes down again or a solution is agreed upon by the Bitcoin community.

[niisarearning]

Yes it is because of japan's adoption of bitcoin to legal currency . Hope there will be good news from australia . and also india has made panel to discuss about bitcoin regularisation hope there will be positive result from panel   

[ladydark]

Sandeep Goenka, cofounder and chief operating officer at Zebpay said:
“The increasing awareness of bitcoins worldwide, particularly about its revolutionary technology, has triggered a rally in the bitcoin market...Japan has now added itself to the list of countries that have regulations for bitcoins. Due to these positive factors, bitcoin prices have been showing tremendous strength.”
  Meaning further rise!

Countries trying to regulate bitcoin instead of banning it is a progressive step in the development of bitcoin.Following japan,we could hope that more countries would join this process.

[iqlimasyadiqa]

I think politically where the power of the world is currently centered in America and Russia, if one or both of these states organize bitcoin, automatically all countries will do the same. I was a little disappointed with the SEC attitude in March, but I believe the bitcoin road is still bright because the attitude of Russian government is very positive towards the end of this year. I think next year is the beginning of bitcoin glory at the door of world economic regulation.

There should be an initiative like the Japan govt to make other countries aware of bitcoin.

There are still plenty of chances and time of course to provide an opportunity for American and Russian to enact the rules of bitcoin, they have gradually begun to appear to be providing opportunities for bitcoin. Now we are headed for America that becomes like Japan today.

[magneto]

Sandeep Goenka, cofounder and chief operating officer at Zebpay said:
“The increasing awareness of bitcoins worldwide, particularly about its revolutionary technology, has triggered a rally in the bitcoin market...Japan has now added itself to the list of countries that have regulations for bitcoins. Due to these positive factors, bitcoin prices have been showing tremendous strength.”
  Meaning further rise!

More regulation does not mean that bitcoin is going to benefit from it.

I believe that bitcoin works best when it is allowed to be completely self-sufficient. Meaning that countries do not intervene with any aspect of bitcoin. Right now a lot of countries have regulations for exchanges, but p2p trading is still available without regulation. I wouldn't be surprised if countries start outlawing the trading of bitcoin, even p2p.

There is no Bitcoin regulation as long as you keep using Bitcoin for your transactions. The regulation can only refer to the exchange of Bitcoin into FIAT.

Yes, of course. We all know this when we talk about regulation. In USA, the government will not tax you if you are just holding on to your Bitcoin but once you sell them to the dollar then you have to pay some taxes because in all probability you gain something as profits.

The government is well aware that they could not really shutdown the operation of Bitcoin so why waste time why not instead put some regulations on the transactions? This can be a win-win situation actually.

Thats what I said (see bolded part)

edit: What I mean is, that there is no such thing as a "Bitcoin Regulation", but only a "FIAT Regulation". If governments would try to regulate Bitcoin transactions and/or put a tax on it, they will certainly fail.

It is impossible to do that, however they can probably do some other things like tracking movement of coins. Will not be 100% effective but will make bitcoiners life difficult.

[lemonade09]

Sandeep Goenka, cofounder and chief operating officer at Zebpay said:
“The increasing awareness of bitcoins worldwide, particularly about its revolutionary technology, has triggered a rally in the bitcoin market...Japan has now added itself to the list of countries that have regulations for bitcoins. Due to these positive factors, bitcoin prices have been showing tremendous strength.”
  Meaning further rise!

I guess increase in bitcoin price is just a normal thing because of the increasing bitcoin users in all over the world so i guess it is just normal for the bitcoin to increases in the market so i guess no problem about that and i guess bitcoin will continue spreadll over the world.