Are you For or Against "Government" Regulation of Bitcoin.

[ma_da_o]

I don't see how the Government can control bitcoins.

[cybersofts]

Government should not try to regulate bitcoin because it not belong to them. Bitcoin belongs to the people!

People around the world exchange value in form bitcoins, let governments keep regulating their local and traditional paper currency issue by them.

As we're progressing and building the future for ourselves and our children on bitcoins.

[skorupi17]

I noticed many pro government Regulation of Bitcoin popping up everywhere thesedays it makes me wonder whether fellow Bitcoiners are in support of these people or more focused on accumulating more Bitcoin & Altcoin.
Would Satochi be in Support of Regulation? Are you in support or against?

How can the government exactly regulate bitcoin? I want to hear ideas from it. As far as I know, Bitcoin was designed in order for it to be untouched by a powerful external entity, hence, the government.

If ever that a government will regulate bitcoin (I wish not) they are the one who will control the price and that is not a good news for bitcoin users.

[freebutcaged]

No government mate, no regulation, no nothing, let it be we don't need them to be our bosses and overlords here as well.

What is anything good about a decentralized currency under the central umbrella of governments? the concept of a decentralized

Cryptocurrency  it self is the definition of rebellion, they can try to bend us but don't take this lightly as we will never bend over.

[pearlmen]

I noticed many pro government Regulation of Bitcoin popping up everywhere thesedays it makes me wonder whether fellow Bitcoiners are in support of these people or more focused on accumulating more Bitcoin & Altcoin.
Would Satochi be in Support of Regulation? Are you in support or against?

Considering the pros and cons of government regulations which I am sure government have even failed in to protect fraud even with cash or bank that they have considerable control over how am I sure they won't even live below expectation if they have control over bitcoin. Aside that, the consideration for government regulations is due to fraud which can be avoided to a large extent if one can exercise special care In being more careful.

[Hydrogen]

If the government regulated bitcoin.

The 1st step would be bitcoin payment processors robbing people & closing accounts for no reason the way *regulated* payment processors like paypal have done.

The overall quality and reliability of bitcoin in general would fall significantly the second it became regulated.

[Superways]

Bitcoin has given me more benefits than the government so I will be in the support of bitcoin and will like the governments to regulate bitcoin in their states on state level. I will continue to work for bitcoin no matter my government will be in its favor or not.

[Lizzie_Girl]

Lol ? Is this a serious question ? Obviously against. If you for it then you don't understand how Bitcoin works and wouldn't be using it. Of you for you will stick to fiat. Silly thread...

You can't regulate something that can't be controlled.

[countryfree]

The government's regulating BTC? Which government? And who regulates the government?
Please, no more stupid question. BTC's doing fine without any government's help.

[eaLiTy]

I don't see how the Government can control bitcoins.

Government won be able to control bitcoins but they could control the flow of fiat currency and that is possible because they control the fiat world, 
it is a delicate topic and the government has to deal these topics sensibly ,a regulation of bitcoin might control the amount of frauds being carried out in the crypto world and in that aspect i am in for government regulation but in a limited capacity.

[dinofelis]

There will be no difference between bitcoin and fiat/bank if it will be regulated. Bitcoin was developed to give financial freedom and if it will be regulated there will be tax imposed and all of your bitcoin transactions will be monitored. Bitcoin will loss all its charms, so no I am not in support of government regulation on bitcoin.

Amen to that !  I understood bitcoin's dream was dead when people were enjoying "regulation".

nobody can tax your bitcoin transactions the same way they can not tax the cash in your pocket!
but when you go to the bank and put it there, or when you go to the shops and start buying things you pay the price
there is no need for thinking it is any different with bitcoin!

I wrote something about that here:

https://bitcointalk.org/index.php?topic=1954465.msg19410168#msg19410168

Government can tax, control and know about any crypto interaction with legal partners (stores, exchanges, law-abiding citizens).  Mining crypto, holding crypto, and interacting with non-legal partners is of course entirely out of governments control, but the more they legalize it, the less non-legal opportunities there will be to use the coins, which will kill the entire idea of having a free economy based upon crypto.  Crypto will just be a legal asset of which all "ins" and "outs" with legal partners are reported, controlled, and taxed, and of which any deviation will be punished as fraud.

So yes, you can mine a lot of coins.  But you can't do anything with them.  From the moment you try to spend them on something, the partner will have to report you, and you will have to explain why you didn't report them.

The government will never interfere with the actual workings of a crypto (well, unless it is to do foreign politics).  But they will entirely crack down on any usage of it that is not reported, regulated and taxed, and in fact, this is *much easier* for crypto than it is for anything else because it can be *automated*.  You will be seriously advised to use a "plug in" into your wallets that do the reporting *automatically*, because any error committed there can put you in serious fraud situations ; the *automatic* reporting can be very easily verified by government, whether the matching partner did the right reporting too.

In other words, if you transmit coins to an exchange, you better use a wallet that reports this, because the exchange will report it, and government just has to check whether the two reports match.  If you buy something with bitcoin somewhere in a legal store, you better use a wallet that reports this, because the store will report your transaction, and government can easily verify that there have been unmatched reportings.

[MingLee]

I noticed many pro government Regulation of Bitcoin popping up everywhere thesedays it makes me wonder whether fellow Bitcoiners are in support of these people or more focused on accumulating more Bitcoin & Altcoin.
Would Satochi be in Support of Regulation? Are you in support or against?

I'm against it, many people who say that it is a good thing view it as a means of gaining legitimacy (and popularity) through getting Bitcoin out of the legal grey zone and into a point where it actually works for more companies and people.
Technically speaking, it makes sense. While I don't have any positive views on basically all government regulation, this is the best we can realistically get in the society and economies we have.

[Russlenat]

for me if my Government can regulate and control bitcoin and that is good for me because bitcoin can help government for our own economy to boost.

[hinatashoyou]

for me if my Government can regulate and control bitcoin and that is good for me because bitcoin can help government for our own economy to boost.

If all governments of the world can regulate bitcoin, not only can improve the economy of a country but also can make the price of bitcoin to the mars or sun. Imagine if everyone wants bitcoin but the amount is limited and it is difficult to profit from mining it

[Pamadar]

for me if my Government can regulate and control bitcoin and that is good for me because bitcoin can help government for our own economy to boost.

with the way how the local exchange here at my place took over i guess its no need for the tax being implemented as everything that we do now have already its own fee i mean with the high difference between the buy and sell and with every transaction already have some fee with my local exchange its serve as a tax already so which way it is i'm not against if things would happen.

[Wind_FURY]

My stance has always been that Governments can (and probably should) regulate any third party services that are "trusted" to store customers' funds.  But the underlying protocol itself is self-regulating and the introduction of a controlling central entity can only weaken it:

Should the Bitcoin protocol be regulated?

In short, no.  Every so often, someone calls for Bitcoin to be centrally regulated by a trusted body in the mistaken belief that it would help prevent scams, thefts and frauds.  Although it sounds like a good idea, this is actually a dangerous line of thinking and could potentially jeopardise Bitcoin's future. 

Bitcoin is designed as a transaction between two people, without relying on a trusted third party.  Any attempt to add regulation to the protocol would introduce a controlling third party, which could potentially block, freeze or otherwise restrict transactions.  This would damage Bitcoin's fungibility and could break the currency as a whole.  Once a regulator has control, there is nothing to stop them doing what they like.  There's also no evidence to suggest that central regulation would in fact lessen the number of thefts or scams.

People who ask for Bitcoin to be centrally regulated are generally considered to have misunderstood the fundamental concept of the Bitcoin network.  Bitcoin is decentralised by design, as this guarantees it being neutral, incorruptible and secure.

Would it be correct to compare the Bitcoin protocol to something like TCP/IP?

Another point and I am still trying to get my head around it, but Bitcoin is not really a "coin" or an "asset". They are nothing but entries of inputs and outputs in a ledger aka the blockchain. Holding a Bitcoin is more like holding a receivable. Are there laws against holding receivables?

[niisarearning]

I am with bitcoin regulation by government because the country where i living recently baned some currency notes it had lot of impact we suffered a lot by our hard earned money . I think it should not happen with bitcoin . If government regulation done in any country then we can trade or hold bit coin without fear

[cafucafucafu]

I noticed many pro government Regulation of Bitcoin popping up everywhere thesedays it makes me wonder whether fellow Bitcoiners are in support of these people or more focused on accumulating more Bitcoin & Altcoin.
Would Satochi be in Support of Regulation? Are you in support or against?

I think that the consensus is in the bitcoin community at least that governments should not mess with bitcoin. They should leave bitcoin as it is right now - completely decentralised and out of reach of any SINGLE power entity.

Obviously governments would like to change this fact because they simply don't want people having full control over their own finances. Period. Rightn ow people are able to adjust interest rates, print more money to control the whole economy. But what happens when bitcoin is mainstream? How will politicians lie their way out of an election and fulfill their promises by printing more money? There is no way.

I wouldn't be surprised that btc gets banned in some countries in the near future. However this will only show that bitcoin is a real threat to fiat and encourage more to use it as it is nearly untraceable anyways.

[Ravion]

I noticed many pro government Regulation of Bitcoin popping up everywhere thesedays it makes me wonder whether fellow Bitcoiners are in support of these people or more focused on accumulating more Bitcoin & Altcoin.

If Bitcoin were regulated by the government it would have to be turned into something that would be acceptable by the government, because they wouldn't accept it with the anonymity it has now. This means full identification of users, taxation etc. Bitcoin would lose many of the things that made many (or most) people start using it in the first place. The value of Bitcoin is constantly appreciating, and one of the main reasons for this is because people in countries with strict capital controls are investing their money into it. Would the value of Bitcoin be rising like this if it were regulated by governments?

[machinek20]

I am the one that opposed, I dont see any good come if the government interfere the bitcoin, it will create a regulation on how to used bitcoin and our transaction will supervised, we will lost our freedom, I prefer bitcoin is free from any government hand