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Author Topic: How do you think, will states be able to regulate the crypto currency?  (Read 3082 times)
bubblebit
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October 26, 2017, 06:27:20 AM
 #41

The government as an elected officials by the people has the mandate to protect and serve for the betterment of them. In that alone most government officials uses that to regulate bitcoin/cryptocurrencynot for that reason but most because they’re protecting they’re investments in banks.

They can regulate bitcoin but not the users. We can go beyond anonymity and hide/run from authority but until when? is a sad truth. We must follow laws that may implemented and share to our countries economy improvements.

Even bitcoin should be decentralized but because of abused and scammers we pay the price that our member of the community mistakes and that is “regulation “.
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Zackgeno96
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October 26, 2017, 07:23:37 AM
 #42

How do you think, will states be able to regulate the crypto currency?

No way mate, it is difficult to regulate and monitor the bitcoins as it is a decentralized currency and no one has the authority to do so. People are still using and holding the bitcoins without thinking about their local governments, there is no need to fear as the bitcoins will continue to rise by each passing day.
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October 26, 2017, 10:50:32 AM
 #43

I guess first you need to decide with what people understand under the regulation. The issue of coins, the state will never be able to control because most of the coins of the bitcoin has been mined. Regulation of the turnover is also impossible because it is happening all over the world. The government can only control operations to exchange coins for Fiat. They may prohibit such sharing, but it won't make sense because users will change to another currency and then convert to the local currency. There is only one. To levy a tax on exchange operations or of the proceeds to the Bank account. Then traders will have to register a business to be able to put their investments in cryptocurrencies on costs and avoid paying twice the tax on these amounts.

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October 27, 2017, 02:49:33 PM
 #44

No I think not. In the first place, Bitcoin was made to be free. Free from regulation and free from being tracked in transactions. I think also, if ever the government wants to own and regulate it, it would be hard because there are a lot of users already across the globe. Regulations then should come from all of those countries which is hard as we all know different countries sometimes do not meet their interests. That's why we have our each currencies in the first place.

Kingofbitcoin12345
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October 28, 2017, 07:42:07 AM
 #45

They can if they want to but just on the surface transactions and not all of them.. The government even have the capacity to stop hackers then it shows that they’re incapable of doing so.. But I’m not against any regulation for if this will be necessary for the hundreds of scamming incidents for this past few years..

Proton2233
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October 30, 2017, 02:35:18 PM
 #46

They can if they want to but just on the surface transactions and not all of them.. The government even have the capacity to stop hackers then it shows that they’re incapable of doing so.. But I’m not against any regulation for if this will be necessary for the hundreds of scamming incidents for this past few years..
Any rules is the reduction of the level of freedom. Even if these rules are intended to improve the rules of use. In the case of government I don't believe in good intentions. Bitcoin could not appear when all users like the Fiat and everyone is happy with how the state distributes income from the economy.

bitcoinvamp
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October 30, 2017, 04:18:04 PM
 #47

How do you think, will states be able to regulate the crypto currency?

Firstly every country already has its own currency which has to be regulated regularly .So, regulating the cryptocurrency will be really difficult for the country or the states to regulate it. Also, cryptocurrency is independent of these rules and regulations and will remain like this only. There is very little chance that states will ever regulate the cryptocurrency.
Kronos21
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November 01, 2017, 02:25:27 PM
 #48

How do you think, will states be able to regulate the crypto currency?

Firstly every country already has its own currency which has to be regulated regularly .So, regulating the cryptocurrency will be really difficult for the country or the states to regulate it. Also, cryptocurrency is independent of these rules and regulations and will remain like this only. There is very little chance that states will ever regulate the cryptocurrency.
Actually the government can easily regulate the use of cryptocurrencies. We are helping them in this. Instead of trying to unite and fight against interference of the government in the cryptocurrency market we are discussing how best to do it. Actually voluntarily giving power to the government over them. Then why all this had to start. Use only Fiat. It legalized.
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November 02, 2017, 12:59:26 AM
 #49

I think that in the future, most states will regulate the process of circulation in their countries of the country. This is a regular stage in the development of the crypto currency and is entirely permissible. It is also permissible and it is usual practice of all states to establish value added tax when performing transactions with any financial assets, which in any case is a crypto currency. Here, however, the question arises how to relate to the rule of possible identification of a person when charging such a tax. After all, does this undermine the principle of anonymity of the crypto currency?

Fatunad
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November 02, 2017, 12:28:04 PM
 #50

How do you think, will states be able to regulate the crypto currency?

Firstly every country already has its own currency which has to be regulated regularly .So, regulating the cryptocurrency will be really difficult for the country or the states to regulate it. Also, cryptocurrency is independent of these rules and regulations and will remain like this only. There is very little chance that states will ever regulate the cryptocurrency.
Actually the government can easily regulate the use of cryptocurrencies. We are helping them in this. Instead of trying to unite and fight against interference of the government in the cryptocurrency market we are discussing how best to do it. Actually voluntarily giving power to the government over them. Then why all this had to start. Use only Fiat. It legalized.
Even if you do say to support the government but most of the time we cant really trust them because they can make any plans anytime as long as they want which would really oppose on the things we do want to happen.They can really regulate cryptocurrencies just try to look at on the thing happened on the country of Japan which they did able to regulate bitcoin but not totally making it as a main but just an alternative way payment system.If its possible into their place then why not on other country? It would really just depend on a certain government if they would like to they can really do it. They cant control decentralized stuff but somehow can be accepted and adopted and making use of it.

franco123
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November 02, 2017, 02:20:26 PM
 #51

I think it will not.

First of all, one of the main objectice why Bitcoin was created is to have a digital currency available worlwide at is not regulated by any central bank or government.

Second, the United States already has it's own currenct to regulate which is the US dollars. It no longer need to have another currency to regulate.

Third, Bitcoin is not owned by the US nor by any country. That's why regulating it needs to approval of the majority of the Bitcoin holding countries. Or maybe if they own more than 50% of it.

Lieldoryn
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November 02, 2017, 04:11:34 PM
 #52

I think it will not.

First of all, one of the main objectice why Bitcoin was created is to have a digital currency available worlwide at is not regulated by any central bank or government.

Second, the United States already has it's own currenct to regulate which is the US dollars. It no longer need to have another currency to regulate.

Third, Bitcoin is not owned by the US nor by any country. That's why regulating it needs to approval of the majority of the Bitcoin holding countries. Or maybe if they own more than 50% of it.
You are wrong. The fact that the state cannot control the issue of coins does not mean that it can't regulate this market. The state will control all operations for Fiat. This is enough to take high tax and not to develop bitcoin. If there will be a trade with bitcoin will be a complete ban of the state for such operations.

rmilly
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November 04, 2017, 03:35:55 AM
 #53

That's impossible. The only way to do that is to own part of the supply or have strict laws. Even then, enforcing them is impossible.
audaciousbeing
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November 04, 2017, 10:25:56 AM
 #54

Regulating bitcoin is going to be a difficult thing for government because they cannot centralise everything even though you shut down access to banks not to make support for exchange sites, transactions can still be carried on. People can chat via social media then make deals either through cash or bank transfer as an individual with that, sales has taken place.

However, where I see them being protected is not to go after individuals rather the exchange sites by allowing them operate and at same time making them comply with the KYC policies by that only those who want to do the right thing will be on exchange platforms while government and it's agencies can channel their effort on tracking down those who wouldn't use the exchange platform because of their illegal activities.

madwica
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November 04, 2017, 01:18:39 PM
 #55

I do not think givernment can regulate digital currency, they could not get involve on it, bitcoin can operate without declaring if it is legal or illegal by the government the important is we should used bitcoin in the right way or in a good thing to make the image of bitcoin be positive to other people and the government of all nation in the world.
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November 04, 2017, 02:10:37 PM
 #56

I agree with you if the government can not regulate bitcoin, both legal and illegal in the country, but we know that the legality of bitcoin in a country will have a good effect on bitcoin progress as well as to have a positive effect on the country's economic development but not necessarily change the system decentralize in it and manage bitcoin performance.

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Mr. Thang
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November 05, 2017, 11:25:19 AM
 #57

How do you think, will states be able to regulate the crypto currency?

In my opinion, there is no way that states or the government can control/regulate cryptocurrencies in general due to its decentralized nature. But they may, in effect, manipulate the price of it by earning most of the bitcoins in existence, thus making them whales. I also do believe that if the government of each country wants to regulate bitcoin, then it is obvious that they should ban its usage instead of trying to accomplish the impossible. But who wants to ban bitcoin anyway? The opportunities it provides to people are far greater than its repercussion on the banking community.

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November 08, 2017, 06:19:22 AM
 #58

My own opinion is, they should be a regulatory body were all up coming ICO should be verified to a standard before they are allowed to flag of.... There team should be check and contacted, there company should be verified... and the problem they tend to solve me be unique else they should not approve the ICO... this will help a long way
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November 10, 2017, 08:47:29 AM
 #59

The government as an elected officials by the people has the mandate to protect and serve for the betterment of them. In that alone most government officials uses that to regulate bitcoin/cryptocurrencynot for that reason but most because they’re protecting they’re investments in banks.

They can regulate bitcoin but not the users. We can go beyond anonymity and hide/run from authority but until when? is a sad truth. We must follow laws that may implemented and share to our countries economy improvements.

Even bitcoin should be decentralized but because of abused and scammers we pay the price that our member of the community mistakes and that is “regulation “.

I think it is the other way around. Governments can regulate their users, but not bitcoin use. Bitcoin's decentralization makes it immune from interference from governments, so governments would have to regulate how users use their bitcoins. They cannot stop it, but they can stop the users.
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November 10, 2017, 06:56:30 PM
 #60

My own opinion is, they should be a regulatory body were all up coming ICO should be verified to a standard before they are allowed to flag of.... There team should be check and contacted, there company should be verified... and the problem they tend to solve me be unique else they should not approve the ICO... this will help a long way

This is one area that regulation might help the users. Checking Icos is important so that they don't just come and leave investors in more debt. Hence, even if total regulation from mining to everything about cryptos might be difficult at least that of Icos is important.

For instance, some icos come promising goodies while their site are prone to collapse when hit by traffic of subscribers, just like we are witnessing in many ico site now, because they either didn't do their research very well, they are incompetent or not ready.

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