Can bitcoin be regulated!

[Idrisu]

I will like to have your view on this?  Can government's regulatory agency actually determined how bitcoin or others coins be use? If governments cannot regulate a currency be it fiat or cryptocurrency, are we having our financial freedom or investing in something that is going to create inflation and another financial crisis in future? What is the advantage or disadvantage of bitcoin unregulated? Thank, your view will be appreciated.

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[alfs75]

I will like to have your view on this?  Can government's regulatory agency actually determined how bitcoin or others coins be use? If governments cannot regulate a currency be it fiat or cryptocurrency, are we having our financial freedom or investing in something that is going to create inflation and another financial crisis in future? What is the advantage or disadvantage of bitcoin unregulated? Thank, your view will be appreciated.

Yes maybe someday government regulate the bitcoin  to maintain its stability in the economy.there are advantages &disadvantages if bitcoin is not regulated, first the advantages is that no tax  payed to the government,and the economy will progress.while the disadvantage  if not regualed maybe other person have a personal interest used bitcoin in drugs or in crime intentions

[Thyaga]

I will like to have your view on this?  Can government's regulatory agency actually determined how bitcoin or others coins be use? If governments cannot regulate a currency be it fiat or cryptocurrency, are we having our financial freedom or investing in something that is going to create inflation and another financial crisis in future? What is the advantage or disadvantage of bitcoin unregulated? Thank, your view will be appreciated.

The government can not and will never be able to regulate bitcoin, the government can only make regulations about the circulation of btc in the country.

[TheUltraElite]

I will like to have your view on this?  Can government's regulatory agency actually determined how bitcoin or others coins be use? If governments cannot regulate a currency be it fiat or cryptocurrency, are we having our financial freedom or investing in something that is going to create inflation and another financial crisis in future? What is the advantage or disadvantage of bitcoin unregulated? Thank, your view will be appreciated.

The government can not and will never be able to regulate bitcoin, the government can only make regulations about the circulation of btc in the country.

I believe that governments trying to control anyhow the circulation of bitcoin is a bad thing. People will not accept it at all. Believe it or not some people just use bitcoin to stay away from taxes. Now it is true that some honest people are willing to pay taxes and still use bitcoin but they are rare. So if governments try to regulate the circulated bitcoin it will only lead to crisis and more problems. Thereafter it goes against the policies of crypto-anarchism.

Like in our country the government has no plans to regulate any cryptocurrency but has warned people to be careful themselves if they are trading it since its highly volatile in nature of price.

[btcney]

Bitcoin can't be regulated.

However, bitcoin exchanges and mining pools can by the government.

I personally think that such regulation is probably unnecessary since it usually restricts the free flow of bitcoins instead of actually help anything at all. It's really up to the government to decide, though. And we don't have much of a say in this.

[Fortify]

Bitcoin can be regulated, but it would rely on every single government in the world working together and history has shown that is extremely difficult. There are too many different agendas and games being played out for that to happen. There is too much incentive to bank off people by offering them lower taxation rates or increased privacy in a country. In theory, if enough countries in the world grouped up to prevent it - the pressure would force the other ones to change.

[Mertalot]

It's just like regulation of the Internet. There were some attempts to regulate it, but actually it still remains unregulated

[ongels]

Perhaps it could be regulated if it is legalized by Government and do some changes to manipulate the flow of btc in the country, Bitcoin at the present are decentralized and highly volatile, this makes people to invest and took advantage to make profit, and the same time using btc is very cheap and very fast to transact even in bigger amounts. This feature makes the people to dig in it.

[irwanjabryg]

I agree and this is necessary for security and keep bitcoin not used for crime. The government is required to maintain the security and comfort of every citizen. As did China in regulating ICO, this is to protect investors.

[frowsiter]

Why not, it's government and they can do anything as long as it is in public interest. As we can see what's happening in the world, there are already two countrys who brought the ban on bitcoin. So obviously it can be banned everywhere. You can not invest into it any longer and if you do then consider your money went to the third party and you can't really reclaim it because it's just not the true money for your country and that's decided by the government itself. This is what ban of bitcoin means. So yeah particularly it can be done and going ahead of it they can regulate it the way they want.


They could just bring down the prices for their own safety and let the public use it in regulated environment. For example, we can invest but there will be limits for the same, or we can't hold more than xyz prices likewise. So yeah things can go messy around. ;-)

[denny27]

Less so can be sure, but it's possible if it really will be done by the government. The decision i think it's depends on all the bitcoin users who use the bitcoin they have for what.. it would be to harming the country if it's using prolonged or not, or even the government will balance with other actions that could withstand the disadvantages of using bitcoin.
Well in the country where i live, bitcoin hasn't been responded to completely by the government, and looks like it's still make preparations to decide for regulated it (decided that crypto currency is a legitimate) or not for the next. So far in the country where i live, it's safety or doesn't have a bad effect (financial crisis) on using of bitcoin and many people including me still have financial freedom or investing on it because the government still allows to use crypto currency but if got the risks from it, it is borne for alone . the benefits of using bitcoins that are still not regulated certainly can make a bitcoin users can gain profits freely and essentially get a sense of freedom to earning it.

[Lancusters]

I agree and this is necessary for security and keep bitcoin not used for crime. The government is required to maintain the security and comfort of every citizen. As did China in regulating ICO, this is to protect investors.

I disagree with you. All of which makes the government directed against the people. As they say always the devil is in the details. Under the guise of good intentions of States are trying to strengthen the control over people. Only slaves are easy to control. I'm sure that any state intervention will only bring harm.

[roccstar]

In my opinion governments cannot regulate bitcoin. But they can ban the usage of bitcoin like how they did it in China . Today while I was surfing in the net, I read a news that is shocking. The news is the government of Nepal has ordered its police officials to arrest those who are dealing with bitcoins and they arrested nearly 7 people also. The government has ordered all the bitcoin exchanges in Nepal to stop their services also.

[swogerino]

I doubt it can be regulated. Bitcoin was created from Satoshi Nakamoto with the main characteristic of it to be decentralized. This means it was projected to not have a regulator above it like central banks do to conventional FIAT money ,dollars, euros, pounds etc. If governments start to regulate bitcoin it losses its main characteristic, it losses decentralization. I don't think bitcoin can be regulated.

[Wesimon]

Government cannot regulate bitcoin itself. But the government can implent some rules about bitcoin like what china did. Bitcoin is decentralized and has a good future but I think the government wont allow bitcoin holders to be exempted in tax. They will definitely make way to have cotrol over it.

[Bagaji]

I will like to have your view on this?  Can government's regulatory agency actually determined how bitcoin or others coins be use? If governments cannot regulate a currency be it fiat or cryptocurrency, are we having our financial freedom or investing in something that is going to create inflation and another financial crisis in future? What is the advantage or disadvantage of bitcoin unregulated? Thank, your view will be appreciated.

I don't think government will to regulate Bitcoin except individual government has to create their own altcoins. For government to control Bitcoin it then implies that the original purpose of Bitcoin which is anonymity is defeated. For me I don't want to take control over Bitcoin because they are the same with banks.

[1Referee]

Government cannot regulate bitcoin itself. But the government can implent some rules about bitcoin like what china did. Bitcoin is decentralized and has a good future but I think the government wont allow bitcoin holders to be exempted in tax. They will definitely make way to have cotrol over it.

Speculation goes around that Chinese exchanges that will be back in operational state, will report everything their users do directly to the government. In the long run, I think this will be something that basically every crypto exchange will be doing in order to maintain its operations - governments won't just sit back and see this eco system grow, while people refuse to declare their holdings/gains. In other words, if you end up making profit, and you don't declare any of it, you'll be dealing with the government, but then in a negative way of couse. I see another major reason as to why the peer to peer market will continue to grow exponentially in the forthcoming years.

[LeoEspansq]

I think the government in the future will regulate bitcoin and other crypto-currencies. The government is not interested in remaining without control over the funds of ordinary citizens.

[exstasie]

Government cannot regulate bitcoin itself. But the government can implent some rules about bitcoin like what china did. Bitcoin is decentralized and has a good future but I think the government wont allow bitcoin holders to be exempted in tax. They will definitely make way to have cotrol over it.

Speculation goes around that Chinese exchanges that will be back in operational state, will report everything their users do directly to the government. In the long run, I think this will be something that basically every crypto exchange will be doing in order to maintain its operations - governments won't just sit back and see this eco system grow, while people refuse to declare their holdings/gains.

Indeed, but to be honest, I think this is more about fiat shadow banking than cryptocurrencies and traders/taxes. Crypto is still really illiquid, and there is a lot of friction in using it for capital flight. The exchanges, though, were acting as shadow banks. Clients locked up billions of yuan (and bitcoins) in the exchanges and the exchange operators turned around and invested client funds, presumably into Chinese or Hong Kong bank debt instruments to leverage into overseas investments (real estate, etc).

The investment of billions (yuan) of client funds is proven in the case of Okcoin and Huobi. Others were likely engaging in the same thing, especially if you consider a lot of their no-fee trading structures.

[faceoff97]

In my country, i dont see our government would interfere and make regulation for bitcoin simply because, there were not so big volume of users who are engaged with it in our country. Most bitcoin holders in my country ia just the online people. I think any government who see his country invaded by bitcoin will make an action to regulate it, and do things which country will be benefited. I can see no wrong with government having concern with bitcoin even bitcoin is decentralized. Government might make specific rule which holders should follow, but with or without regulation I can see that its going to be accepted by many even a whole government.