Regulating Bitcoin

[wolfgang56]

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 don't think it is possible because there is no one who wants to be a responsible if something happens to bitcoin because it will be expensive for that people. There is no one who wants to pull out some money just to regulate bitcoin in this time.

[guoyu78]

I think Bitcoin and digital coins are built on freedom, non-binding, decentralized and autonomous so binding rules and common rules are not necessary. It makes people feel uncomfortable when drinking Bitcoin, making more people hate Bitcoin. This is not necessary because people are always aware of their work and they always want to make money so putting constraints is not a good idea.

Lol. Do you think that government officials are interested in your problems? People looking for extra income because all governments do not want to manage the economy so that people have a decent income. If we allow the state to regulate bitcoin it will happen the same as with Fiat. Why do it? Allowing the idea of state regulation do you kill bitcoin.

And that is where you have gotten it all wrong. I really wonder if people read through the threads or they take their time to understand what regulation really means. Regulation can never change the properties of bitcoin and it will remain decentralized as long as it remains the way it is now. Regulation will only end up when the users are dealing with exchanges and as long as you are either using fiats to buy or you are converting to fiats, you have to stay within the laws and policies of the government.

The value can never be controlled like fiats and you can decide to your P2P exchange as much as you want. No government can stop you with that.

[qq1041414104]

Great idea, I like this!

[jpoker272727]

I think Bitcoin and digital coins are built on freedom, non-binding, decentralized and autonomous so binding rules and common rules are not necessary. It makes people feel uncomfortable when drinking Bitcoin, making more people hate Bitcoin. This is not necessary because people are always aware of their work and they always want to make money so putting constraints is not a good idea.

Lol. Do you think that government officials are interested in your problems? People looking for extra income because all governments do not want to manage the economy so that people have a decent income. If we allow the state to regulate bitcoin it will happen the same as with Fiat. Why do it? Allowing the idea of state regulation do you kill bitcoin.

And that is where you have gotten it all wrong. I really wonder if people read through the threads or they take their time to understand what regulation really means. Regulation can never change the properties of bitcoin and it will remain decentralized as long as it remains the way it is now. Regulation will only end up when the users are dealing with exchanges and as long as you are either using fiats to buy or you are converting to fiats, you have to stay within the laws and policies of the government.

The value can never be controlled like fiats and you can decide to your P2P exchange as much as you want. No government can stop you with that.

This^

[futile-resistance]

Bitcoin was made independently that no one has to produce or build up any consequences for it. We, people are the one's who is responsible for every matter or problem that can occur on our account. 

Exactly. And if anyone decides they want to stick with exchanges while dealing with bitcoin-fiat-bitcoin, then they must be ready to abide by the monetary rules of the country. But I can decide to make transactions from my wallet to someone else’s' without being monitored by the government as there is no way they can ever do that.

[Thanasis]

I think Bitcoin and digital coins are built on freedom, non-binding, decentralized and autonomous so binding rules and common rules are not necessary. It makes people feel uncomfortable when drinking Bitcoin, making more people hate Bitcoin. This is not necessary because people are always aware of their work and they always want to make money so putting constraints is not a good idea.

Lol. Do you think that government officials are interested in your problems? People looking for extra income because all governments do not want to manage the economy so that people have a decent income. If we allow the state to regulate bitcoin it will happen the same as with Fiat. Why do it? Allowing the idea of state regulation do you kill bitcoin.

And that is where you have gotten it all wrong. I really wonder if people read through the threads or they take their time to understand what regulation really means. Regulation can never change the properties of bitcoin and it will remain decentralized as long as it remains the way it is now. Regulation will only end up when the users are dealing with exchanges and as long as you are either using fiats to buy or you are converting to fiats, you have to stay within the laws and policies of the government.

The value can never be controlled like fiats and you can decide to your P2P exchange as much as you want. No government can stop you with that.

I don't think it is possible to regulate the use of bitcoin if government make some rules for spending or using bitcoins no use in it because bitcoin transaction is fully anonymous so no one can trace our transaction and no way to find we are following the rules or not.
So still you guys are thinking bitcoin transactions can be regulated?

[fuer44]

I think Bitcoin and digital coins are built on freedom, non-binding, decentralized and autonomous so binding rules and common rules are not necessary. It makes people feel uncomfortable when drinking Bitcoin, making more people hate Bitcoin. This is not necessary because people are always aware of their work and they always want to make money so putting constraints is not a good idea.

Lol. Do you think that government officials are interested in your problems? People looking for extra income because all governments do not want to manage the economy so that people have a decent income. If we allow the state to regulate bitcoin it will happen the same as with Fiat. Why do it? Allowing the idea of state regulation do you kill bitcoin.

And that is where you have gotten it all wrong. I really wonder if people read through the threads or they take their time to understand what regulation really means. Regulation can never change the properties of bitcoin and it will remain decentralized as long as it remains the way it is now. Regulation will only end up when the users are dealing with exchanges and as long as you are either using fiats to buy or you are converting to fiats, you have to stay within the laws and policies of the government.

The value can never be controlled like fiats and you can decide to your P2P exchange as much as you want. No government can stop you with that.

I don't think it is possible to regulate the use of bitcoin if government make some rules for spending or using bitcoins no use in it because bitcoin transaction is fully anonymous so no one can trace our transaction and no way to find we are following the rules or not.
So still you guys are thinking bitcoin transactions can be regulated?

perhaps in this case is a limit in the bitcoin wallet of each user. limiting the amount of deposit is a regulation that may be applicable. the goal is to reduce crime, such as "money laundering".

[BabyBoss]

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

We all know that bitcoin is one of the most beautiful and profitable coins we have this days and bitcoin is beneficial coins to all of us. It is been so valuable because of the price of it. And about the lack of regulation of bitcoin well it is more better for me because I have my own privacy in my earnings and profits. The best we have now is bitcoin so if bitcoin will needed some framework I think they will become more strict about identity of each person.

[Biggapp]

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

Yes of course it is possible. And if it is happen but not control it, it will be good news for bitcoiners.
If regulation happen, more people will interest because people believe with government.

Are you crazy or drunk? Who told you that people really trust governments and they are in favor of making them the masters of everything they hold. All government are corrupt and they use just few money on the welfare of people, rest are used for their own interest. You should understand that people are really after bitcoin because it is not controlled by governments. Governments are simply wasting our money.

[kateryana81]

I think it needs to be done to regulate Bitcoin because this currency is very freely used by many people for crime. But just for the use, but if regulating the Bitcoin price I refuse.

Apparently, without regulations, a whole lot of people will even consider it as a way to loot funds easily into bitcoin and then not being traced. As bitcoin's growth increases and becomes well known, the activities surrounding bitcoin will be monitored which will definitely be done via exchanges. Why do we think some of them are insisting you go to verification before you convert into fiat?

[Tapyaks72]

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

Yes of course it is possible. And if it is happen but not control it, it will be good news for bitcoiners.
If regulation happen, more people will interest because people believe with government.

Are you crazy or drunk? Who told you that people really trust governments and they are in favor of making them the masters of everything they hold. All government are corrupt and they use just few money on the welfare of people, rest are used for their own interest. You should understand that people are really after bitcoin because it is not controlled by governments. Governments are simply wasting our money.

The creation of Bitcoin is design to be anonymous, decentralized,and no boundaries in nature because of some reasons to allude unfair taxation from the government, to maintain privacy to avoid scrutiny of third party and versatility of transaction.because of that we can't expect that bitcoin be regulated.As
all we know that Satoshi Nakamoto knows all this things that people will patronized BTC because they are tired of paying taxes and regulation.

[iram3130]

I always think of taxation when I see the term regulation. I would say government's will start taxation on the capital gain, put some % to it like they've done for lottery etc.

[deddod]

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 think it is possible. because Bitcoin is a new technology that can not be stopped. wait for the government to create a regulatory framework for Bitcoin. sooner or later regulations about Bitcoin will be made.
because in most developed countries they have legalized Bitcoin.

[Naoko]

there is no difficulty in developing a regulatory framework...but will it be bitcoin? or something else in the end?

[Ttrader]

Any regulation on bitcoin will kill it. The whole idea of bitcoin is it is not regulated and therefore can not be censored, stolen or inflated. Adding a regulatory body makes bitcoin the equivilent of the bolivar

[Derrick]

In the system and there is no control over each transaction. Bitcoin is similar this one .it is open source and nobody can regulating here when you are stabbing in bitcoin and not print like dollars this and made by people to increase or digress are the same .bitoin still bitcoin nobody can can regulate here....

Bitcoin cannot be regulated but definitely we as users can be regulated through a law as we are all bound to follow it, otherwise we will be dealt accordingly. There is no way to stop bitcoin if we continue to support it because the government also listen to us and they will serve what is the interest of the majority and there is nothing wrong we see on bitcoin but it can only help us to ease our transaction online and also it can give us a chance to invest.

They only serve the interests of the majority if there is absolutely no other way around for them. They serve their own interests first, everything else comes after and only if it doesn't hinder their own interests.

May be some government regulate Bitcoin because their own currency is not value able in world trading, by regulating the bitcoin weak countries can improve their economical stat. But most likely strong countries will not regulate Bitcoin because it will create a hard impact on their banks.

[yusupjatigumilar]

I think the government will benefit a lot if the regulation on bitcoin transactions is enforced, but for now I think the government has not been able to create it even in some bitcoin countries began to be blocked as it threatens the country's economic stability.

[Aya1]

based on their research, regulators realize that what is needed is not the strict regulation that governs Bitcoin, but rather the dissemination of Bitcoin-related education in a larger degree.

[virasog]

based on their research, regulators realize that what is needed is not the strict regulation that governs Bitcoin, but rather the dissemination of Bitcoin-related education in a larger degree.

Bitcoin cannot be regulated as a whole as it is not in anybody control. What a government and other financial institutions can control is the things like they can put tax on cashing out bitcoins in local exchanges. Regulate the exchanges who want to deal with bitcoin to Fiat conversions etc.
Other than this it is not possible to control the existence and transactions of bitcoins.

[diegz]

I think the government will benefit a lot if the regulation on bitcoin transactions is enforced, but for now I think the government has not been able to create it even in some bitcoin countries began to be blocked as it threatens the country's economic stability.

No, it's not like that. It's going to be a hell to us bitcoin users if the government is going to regulate bitcoin. they could tax this as much as they want or they could force people to pay in every transaction they made or probably doubling their tax paying your capital gains in bitcoin and at the same time you are paying your regular tax.

I think it has no big effect in the economy, unless we are going to use all those bitcoin and pour it to the economy.