Bitcoin Forum
June 26, 2019, 11:15:45 AM *
News: Latest Bitcoin Core release: 0.18.0 [Torrent] (New!)
 
   Home   Help Search Login Register More  
Pages: [1]
  Print  
Author Topic: [2017-07-14] Bobby Lee calls for Bitcoin Regulation  (Read 3885 times)
iamTom123
Hero Member
*****
Offline Offline

Activity: 490
Merit: 501



View Profile
July 14, 2017, 03:28:14 PM
 #1

Quote
BTCC CEO Bobby Lee calls for Bitcoin Regulation

Head of the BTCC exchange Bobby Lee, who earlier this year stated that it’ll still be another 2-3 years before China regulates bitcoin, recently went on CNBC’s Squawk Box to talk about the cryptocurrencies and their state in China.


According to Bobby Lee, cryptocurrencies need to be regulated in order to avoid getting out of control and suffering major price swings, such as those we’ve already seen this year – Ethereum, for example, crashed to a $0.10 low on Coinbase’s exchange GDAX due to a major sell order.

Recently, cryptocurrency total market cap fell below $80 billion as most major cryptocurrencies have been losing value. Ethereum’s market cap, for example, nearly reached $40 billion last month, and is now below $20 billion, according to data from CoinMarketCap.

As more and more people enter the cryptocurrency ecosystem, major price swings become likelier, according to the CEO. Bobby Lee stated that with regulations, cryptocurrencies won’t run amok.


Full Article Here

I think that this man is talking something that is really worth considering. Although many of us may abhor regulations, yet present realities in the market seems to be validating that points he is making here. However, the regulations should be done to protect the investors and not to hamper or disadvantaged Bitcoin per se.

I am sure that we can expect more and more discussions along this topic as months will go by. This is an area which the whole Bitcoin community should start discussing now until such time there can be a clear consensus already achieved. It is time for many Bitcoin leaders to come up and speak up on this issue.

What is your stand on this proposal of Mr. Bobby Lee?
Bitcoin Poker 3.0
The Largest Bitcoin Poker Site
Bad Beat Jackpot Available
No Limit Texas Hold'em Cash Games And Tournaments
PLAY NOW
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
gentlemand
Legendary
*
Online Online

Activity: 2044
Merit: 1761


Baby Blue Panties


View Profile
July 14, 2017, 03:35:06 PM
 #2

There will always be exchanges that ignore regulations and the insane volatility is what attracts most people.

Perhaps market regulation is inevitable for the big operations but the only thing that'll really cure it is more people and more money. You don't need to regulate for that.

Pages: [1]
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!