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Author Topic: Regulating Bitcoin  (Read 3793 times)
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February 19, 2018, 07:05:50 PM
 #301

Well for me, if we really want Bitcoin to be leagalized to a lot of countries, then yes we have to agree that there should be should be some regulations inplace for it. I understand that Bitcoin is decentralized financial innovation but for it to be legalized we have to take the regulations as compromise, again regulations not control over Bitcoin.

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February 19, 2018, 09:02:48 PM
 #302

Well for me, if we really want Bitcoin to be leagalized to a lot of countries, then yes we have to agree that there should be should be some regulations inplace for it. I understand that Bitcoin is decentralized financial innovation but for it to be legalized we have to take the regulations as compromise, again regulations not control over Bitcoin.


Yes if bitcoin will legalized in all countries most of the problem will solve very easily with the help of the government but it will long time to work so bitcoin will need to meet many problems to come to win in this field .

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February 19, 2018, 09:11:27 PM
 #303

Cryptocurrency has been widely criticised for lack of regulation. Do you think it is possible to come up with a regulatory framework around Bitcoin?
I am an opponent of the regulation of the cryptocurrency. This will lead to taxation, control ... That is, it is not in the interests of users of cryptocurrency

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February 19, 2018, 09:17:52 PM
 #304

Cryptocurrency has been widely criticised for lack of regulation. Do you think it is possible to come up with a regulatory framework around Bitcoin?
It is already happening right now and i think these tight regulations are one of the reasons why bitcoin price has declined so dramatically lately. But it is little by little gaining its balance now. Hoping for bitcoin full recovery soon.

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February 19, 2018, 09:26:25 PM
 #305

Cryptocurrency has been widely criticised for lack of regulation. Do you think it is possible to come up with a regulatory framework around Bitcoin?
It is already happening right now and i think these tight regulations are one of the reasons why bitcoin price has declined so dramatically lately. But it is little by little gaining its balance now. Hoping for bitcoin full recovery soon.


Well, possibility is a yes it can be happen soon if the government have its regulation that connect to the digital currency world to be legal. On behalf of the government policy i think the number reason why they don't accept cryptocurrency now a days are because of volatility that affect in the economic structure. If things can solve it would be much better that regulation is come true. It will be the government makes a move over digital currency for the better of people in nation.

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February 19, 2018, 11:55:12 PM
 #306

Cryptocurrency has been widely criticised for lack of regulation. Do you think it is possible to come up with a regulatory framework around Bitcoin?
I am an opponent of the regulation of the cryptocurrency. This will lead to taxation, control ... That is, it is not in the interests of users of cryptocurrency
Actually, all of us don't want to pay taxes because it only lessen our income from here. But we think also that, with this thing we can help our community to improved, knowing that governments projects are coming from taxes that they collected from the people. I don't make it as a big deal, unless we have abuse by the authorities. But sadly, regulations might bring crypto from being centralized market as we are being controlled by the government which definitely affect the price.

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February 19, 2018, 11:57:49 PM
 #307

bitcoin was designed not to be regulated by any government entity.

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February 20, 2018, 12:11:41 AM
 #308

Cryptocurrency has been widely criticised for lack of regulation. Do you think it is possible to come up with a regulatory framework around Bitcoin?
I am an opponent of the regulation of the cryptocurrency. This will lead to taxation, control ... That is, it is not in the interests of users of cryptocurrency
Actually, all of us don't want to pay taxes because it only lessen our income from here. But we think also that, with this thing we can help our community to improved, knowing that governments projects are coming from taxes that they collected from the people. I don't make it as a big deal, unless we have abuse by the authorities. But sadly, regulations might bring crypto from being centralized market as we are being controlled by the government which definitely affect the price.

I believe it's not just because we don't want to pay taxes, but because it's not a fair deal for both sides (enthusiasts and government). It's total advantage only for one side and we don't have control about how the government will use the taxes they collect from Crypto-Currency. As money here is made fast and in big proportions, depending the trader, the government can make huge money over the traders.

And then they will feel like in heaven, with so much money to manage. So it won't hurt to create a new ministry here, maybe two or three new ministries... Wow, but there is so much money yet, maybe we can give a new assistant for each congressman... Maybe an increasement on public employees wage too... And so on. All being financed by traders and Crypto enthusiasts efforts.

Abuse will not happen only if the country is very civilized and where the population is really engaged on what is happening on the political sphere all the time.

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February 20, 2018, 01:13:06 AM
 #309

Cryptocurrency has been widely criticised for lack of regulation. Do you think it is possible to come up with a regulatory framework around Bitcoin?
Politicians are already working on it, but it is difficult, they cannot force people to comply with their rules after all bitcoin is completely independent from them and this is the problem they are facing, right no exchanges are a place where they can try to regulate users, but once decentralized exchanges become a reality and you can buy stuff directly with bitcoin then their regulations will mean nothing.
Yeah actually the government has sought for it, but the government realizes that they do not have any power giving rules on bitcoin users. you know that bitcoin users are anonymous, how to apply rules on them? but on the other hand the government has the power to ban bitcoin so that no parties (companies, shops, merchants) dare to accept bitcoin? that's a bad effect for bitcoin

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February 20, 2018, 02:08:14 AM
 #310

Deficiency of regulation of government with bitcoin is making their security easy to break. Well although a great deal of senior users here are incredibly much knowledgeable in securing their bitcoins, most of new users - with this problem won't have an assurance that my bitcoin is safe. I'm just storing it on an online finances because my bitcoin personal savings is not that big. Nevertheless , I'm not sure that when my bank account got hacked, I can still process to create a run for it or like file a complaint. In the event the government is controlling/regulating bitcoin, there will be protocols that will be adopted in every transaction, and they can trace any illegitimate doings. However, they can get a significant amount of money from bitcoin, well I just hope that if that time will happen, they may use the money for the individuals of the govt.

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February 20, 2018, 03:09:00 AM
 #311

that is not the main problem. if seriously the government has already made the regulatory framework for bitcoin. the main problem is that the government will control bitcoin

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February 20, 2018, 03:48:10 AM
 #312

Cryptocurrency has been widely criticised for lack of regulation. Do you think it is possible to come up with a regulatory framework around Bitcoin?

Even bitcoin is decentralized, governments around the world are continuously finding ways on how to effectively regulate it. Their first step is imposing a regulation on every cryptocurrency exchangers and ICOs. The regulation framework is designed to prevent bitcoin from falling into the hands of any person or group that involved in any kinds of illegal activities.


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February 20, 2018, 05:00:40 AM
 #313

There are regulations already with the implementing of bitcoin system since it is secured already in terms of its digital characteristics which its data is being encrypted. And if there are any issue regarding with the ownership of bitcoin or the authenticity of a member that holds bitcoin then it could be troublesome in the part of bitcoin holder. As I have read some post and thread that the issue in bitcoin is the one who hold bitcoin that is anonymous and it could create a problem in the trading process. Well it might be that way but I think the bitcoin holder should be anonymous as to secured his idenity to avoid from any threats as we all know that there are people who were eager for money and would steal in order for them to satisfy their wants and needs.

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February 23, 2018, 05:22:00 PM
 #314

Well for me, if we really want Bitcoin to be leagalized to a lot of countries, then yes we have to agree that there should be should be some regulations inplace for it. I understand that Bitcoin is decentralized financial innovation but for it to be legalized we have to take the regulations as compromise, again regulations not control over Bitcoin.

But it is not going to be that easy, most people never comply unless they are afraid of the consequences of not doing so, and I'm not so sure regulation will be enough they will need to create laws regarding not paying your taxes of your crypto earnings but in order to get people afraid enough the laws will need to be very harsh, so harsh in my opinion that the regulation will be very similar to a ban.



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February 23, 2018, 06:28:01 PM
 #315

Well for me, if we really want Bitcoin to be leagalized to a lot of countries, then yes we have to agree that there should be should be some regulations inplace for it. I understand that Bitcoin is decentralized financial innovation but for it to be legalized we have to take the regulations as compromise, again regulations not control over Bitcoin.

But it is not going to be that easy, most people never comply unless they are afraid of the consequences of not doing so, and I'm not so sure regulation will be enough they will need to create laws regarding not paying your taxes of your crypto earnings but in order to get people afraid enough the laws will need to be very harsh, so harsh in my opinion that the regulation will be very similar to a ban.
in order to make a ban, even with respect to Bitcoin, you need first its legitimacy. but apparently not all countries are concerned and the crypto currency will still operate on the glossy global market. Let the black market, too.

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February 23, 2018, 07:16:37 PM
 #316

If anybody in this forum had less assurance about Bitcoin and it's futuristic effect, I don't think it is a crime if he can just forfeit its holdings in it and exit from this forum. Either any Government in any economy gave any form of Regulation, support and whatever or not, Bitcoin with its decentralization flourishing on configured Block chain shall still gain ground, even in such economy, because more and more people are getting to know day in and out about Bitcoin and it's economic prospects effect as trusted on line Digital currency on its own and secured independency.

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March 05, 2018, 10:41:40 PM
 #317

Well for me, if we really want Bitcoin to be leagalized to a lot of countries, then yes we have to agree that there should be should be some regulations inplace for it. I understand that Bitcoin is decentralized financial innovation but for it to be legalized we have to take the regulations as compromise, again regulations not control over Bitcoin.


You have a point that it is one of the compromises to make it legitimate to any country but I think that is really not the aim of bitcoin (to get some legitimacy from any government) - bitcoin is a revolutionary financial invention aimed at not being monitored and controlled by any third party financial institutions like banks and yeah like government as well.

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March 05, 2018, 11:01:52 PM
 #318

Cryptocurrency has been widely criticised for lack of regulation. Do you think it is possible to come up with a regulatory framework around Bitcoin?
The lack of regulation of government with bitcoin is making its security easy to breach. Well although a lot of senior users here are very much knowledgeable in securing their bitcoins, a majority of new users - like me doesn't have an assurance that my bitcoin is safe. I'm just storing it on an online wallet because my bitcoin savings is not that big.

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March 06, 2018, 12:37:07 AM
 #319

Cryptocurrency has been widely criticised for lack of regulation. Do you think it is possible to come up with a regulatory framework around Bitcoin?

For some country, cryptocurrency trade have regulation. Goverment should be regulating bitcoin trade because many people now using bitcoin as their investment and with regulating bitcoin, goverment have income from taxes

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March 06, 2018, 06:06:55 AM
 #320

Cryptocurrency has been widely criticised for lack of regulation. Do you think it is possible to come up with a regulatory framework around Bitcoin?

For some country, cryptocurrency trade have regulation. Goverment should be regulating bitcoin trade because many people now using bitcoin as their investment and with regulating bitcoin, goverment have income from taxes
With the regulation, the government can make sure that the cryptocurrencies will not exceed to its limitations and it will make sure that it is still on the safe zone and not risking the people too much. Regulation is a must and just like the other countries we should apply regulation also in bitcoin so we can really say that it is safe and not a very risky thing to try.

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