Is it even possible to regulate bitcoins?

[Captimiz]

I mean how? Given it is completely decentralised.

[unamis76]

There can be regulations for usage in merchants. Obviously not in the way Bitcoin works, but it's usage "outside" the virtual space can be hindered (I assume you're also in doubt if usage can be hindered, that's a yes for that)

[gamerfan]

No, it's impossible, just like it's impossible to regulate the Internet. Decentralized things cannot be controlled by a central unit.

BUT... there's another thing governments can do. Make these decentralized stuff not so harmful for them, devoiding them of all their rebellious message. If Bitcoin is considered just an investment tool, they have no need to regulate it. Why? because people just exchange their Bitcoins to USD and then withdraw to their bank accounts. So, banks and governments still make money from it and have no reason to ban or be against Bitcoin.

[jak3]

bitcoin can not be regulated but you can regulate the users who are using it(bitcoin). its technically be said as forcing the system to act in your methods even If the system is not designed to this sort of stuffs, so that means government is trying to hack bitcoin or its users. I don't care what government do I just know that no government allows any kid to earn money (I am not saying about child labour) m just saying everyone thinks kids are way less knowledgeable to earn money but that's not true, bitcoin allows everyone to earn no matter what age they are so defiantly it can not be regulated.

[tigershark]

Taxing bitcoins is a way to regulate it. If the government forces exchanges (like Coinbase) to report how much a customer cashes out, they gain some control. They know who is using it in these cases and how much profit they are making. It can also be controlled when merchants accept bitcoins as payment.

However, governments can't control bitcoins that are in a wallet and are not used or spent and they can't currently affect the number of bitcoins created.

[CarWash]

It is decentralized and democratic, there is no centralization. This is the essence of Bitcoin.

[swissgang]

It's impossible to regulate bitcoin and no need for it, if it cannot be regulated, create another one and regulate it

[Barcode_]

It is not possible to regulate bitcoins as there are two types of wallets which are hot wallets and cold wallets, the users that sent bitcoin transaction out from a cold wallet can't really be tracked by the government. So the usa government are trying to get customer information from coinbase, a company which provides hot wallet for customer to store their funds and also selling bitcoins via their platform.

The Internal Revenue Service ( IRS ) is seeking access to user records held by bitcoin exchange Coinbase as part of a taxpayer investigation. IRS also declared that it would regulate bitcoin and other digital currencies as kinds of property subject to tax and reporting requirements, But I guess it would not be easy for any government to fully regulate bitcoins.

[darkangel11]

It's possible to regulate it by including it in new laws, obligating people to declare their BTC, pay taxes, register activity, but if you're asking about complete regulation, it's impossible, because it's still impossible to link addresses to real people.
The easiest way to regulate it would be through exchanges and businesses. The owners would have to be completely transparent and share all the personal information of their clients, and the government would then proceed to tracking your coins from the moment you buy them to the moment of spending.
It would require tremendous resources and wouldn't be worth it, but would allow for a very high level of surveillance and regulation.

[olushakes]

I mean how? Given it is completely decentralised.

On an individual basis,  I would say it might be difficult to regulate but when it comes to using it to get basic things from stores, then its very much possible and the reason is because  businesses registered with government in which they must comply with the rules and regulations of the land and of they fail, its either government gets the information by force or force them out of business. So, in the process of buying, you might be forced to release some details about you which would in turn be forwarded to government agencies. So regulations starts from there.

[Adbitco]

Government can't control or regulate bitcoin but it might impose restrictions on the usage of it. Government might create new taxes for bitcoin such as treating it to be an asset and forcing the holders of bitcoin to pay some taxes for their holdings or they may totally declare it to be illegal but that can't stop people from becoming a part of bitcoin ecosystem.

[stergium]

Code:

It's possible to regulate it by including it in new laws, obligating people to declare their BTC, pay taxes, register activity, but if you're asking about complete regulation, it's impossible, because it's still impossible to link addresses to real people.
The easiest way to regulate it would be through exchanges and businesses. The owners would have to be completely transparent and share all the personal information of their clients, and the government would then proceed to tracking your coins from the moment you buy them to the moment of spending.
It would require tremendous resources and wouldn't be worth it, but would allow for a very high level of surveillance and regulation.

currently look like impossible but i think if government become agreed then they can find out a solution for that. then they can regulate bitcoin even with its features. but i think it can only take place when all the people of the world start using bitcoin and it will take more than decades, because still majority of people are uneducated and it is not so easy to educate them about computer internet and after that about bitcoin.

[bamboylee]

They cannot regulate bitcoin or blockchain itself but the government will regulate the exchanges, trading platforms that uses bitcoin. I think that is the only thing they can control and regulate. They could require every exchanges and trading platforms for KYC and they can start from there to locate and tax the users.

[ranih]

They cannot regulate bitcoin or blockchain itself but the government will regulate the exchanges, trading platforms that uses bitcoin. I think that is the only thing they can control and regulate. They could require every exchanges and trading platforms for KYC and they can start from there to locate and tax the users.

I think it's just a matter of time, especially in the US.
I'm wondering if the could regulate in retrospect (and how it will affect the altcoin companies and users)

[Lampaster]

Bitcoin cannot be controlled. I think that the attempt to attack the bitcoin will be different. Most likely the government will attack the exchange, not to change bitcoins to dollars. This is a serious problem for users.

[Dannyde]

I mean how? Given it is completely decentralised.

Regulation on integration of Bitcoin into mainstream financial services is happening and is ever-present, especially in the U.S.

Anyone looking to get into crypto with fiat has to jump through hoops, days of waiting for verification, and delays because of KYC and AML regulations forced onto the exchanges and sites that broker fiat -> bitcoin transactions. Then you pay your 5% fee as well.

It's incredibly ironic because that regulation in itself pushes people to crypto further because it exposes the injustices and issues with the traditional financial system today.

[shinratensei_]

It is decentralized and democratic, there is no centralization. This is the essence of Bitcoin.

Totally wrong, Even the decentralized of bitcoin will not prevent the possibility to regulate the Bitcoin, You know that the exchange sites are a centralized system with the main purpose to connect te sell and buy demand.
It can be determined as the important aspect in the crypto. Just said that the possibility to regulate the bitcoin through controlling the exchange site itself.
Bitcoin is not a centralized coin but most of the exchanges have traded bitcoin was the centralized exchange. 

[Pearls Before Swine]

bitcoin can not be regulated

That's what you think!  Any government can regulate bitcoin AND bitcoin users.  They just haven't done it yet.  You just wait until the IRS fully realizes what crypto is all about.  Just wait until the banks discover it, then you'll see what they can regulate.  Don't think it can't happen, because it can...and I'm actually quite surprised that at least the United States hasn't written in more regulations regarding crypto.  But then again, I suspect the government had a hand in bitcoin's creation.  Don't have specifics, just suspicion.

[serhishulak]

Yes, but that have difficulties of effectively regulating so any research into the field is to be welcomed, as it’s clear there are considerable challenges to overcome before digital currencies can become an integral part of the mainstream economy.

[Windpower]

There is definitely a way for governments to regulate the use of Bitcoin. Governments can't stop people from sending Bitcoin to each other, they can't even tax them. However, they can tax people when they buy Bitcoin from companies such as Coinbase, or when they buy something at the shops with Bitcoin. Governments can't really come after certain people, as Bitcoin is pseudo anonymous, making it impossible to track the location of the person, however you can see who they are giving Bitcoins to.

No, it's impossible, just like it's impossible to regulate the Internet. Decentralized things cannot be controlled by a central unit.

Are you alright? What do you mean it is impossible just like the internet? Bitcoin can definitely be regulated and so can the internet. Take China for example, people there are so restricted that they can't even use google. Only websites that are approved by the Chinese government, most of them are even made by the government, are available to their citizens.