Regulating Bitcoin

[eaLiTy]

Regulators all over the world have begun to address the challenges presented by virtual currencies that bypass regulated banks, financial firms exchanges. Some other county also ban using bitcoin as they believed that bitcoin holds more disadvantages that its worth.

If you take the over all concept ,then people who lost a fortune or any amount of money in the market crash during the last recession will understand what a new market like bitcoin will offer,the banks and the central authorities might not like the concept as investors money will be flowing to a decentralized market and they cannot control the money and for this simple reason they could make things harder.

[ElvenRaider]

actually, i'm agree to regulate bicoin use in daily life, but i can not agree with government control
regulation is good to protect citizen, but control is bad for it
this blockchain is invented to avoid this monopoly and central control

Regulators all over the world have begun to address the challenges presented by virtual currencies that bypass regulated banks, financial firms exchanges. Some other county also ban using bitcoin as they believed that bitcoin holds more disadvantages that its worth.

If you take the over all concept ,then people who lost a fortune or any amount of money in the market crash during the last recession will understand what a new market like bitcoin will offer,the banks and the central authorities might not like the concept as investors money will be flowing to a decentralized market and they cannot control the money and for this simple reason they could make things harder.

but some country already regulated it

[AVAMONEY]

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 read from online article Philippine Central Bank may Decide to Regulate Bitcoin After all. 'Around a dozen exchanges are applying for approval, which is a good sign.' source http://www.newsbtc.com/2017/12/21/philippine-central-bank-may-decide-regulate-bitcoin
A possible regulatory framework is to set about trading for online shop, trading in exchanges, limit transaction deposit.

[Marrionbitcoin]

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

There's a possibity that Bitcoin will be regulated. Government must implement some rules and regulations to Bitcoin that help the investors to secure and protect their invested capital. Since Bitcoin helps many people and can make our nations to have better and strong economy. I know implementing such regulations will take time and need more studies for executions. However, aside from the protection and security there might have additional fees or charges for the Government to regulate the Bitcoin and other cryptocurrencies trading. But that would be ok because we know our invested capital is safe.

[farwellbit]

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 support this stance. Governments don't necessarily need to outright ban bitcoin. They could just regulate or tax it to death making it prohibitively expensive and risky to use for almost anyone. If the whole world of governments declares a crusade against bitcoin, we will have hard times. Cryptocurrencies won't go away, but if they are universally outlawed around the world, this will be a dead end for us. Prices will crash.

Regularization is good for both, the government and the people because those who do not believer in bitcoin and they think it is a scam or bubble which can be burst anytime will start believing in bitcoin, because when there is government involve the trust will be built automatically.

Then the price and value of bitcoin will grow more than that of the present. I will warmly welcome this stance if the governments of all the countries announce bitcoin as their legal and regular currency.

[Twinscoin2017]

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 support this stance. Governments don't necessarily need to outright ban bitcoin. They could just regulate or tax it to death making it prohibitively expensive and risky to use for almost anyone. If the whole world of governments declares a crusade against bitcoin, we will have hard times. Cryptocurrencies won't go away, but if they are universally outlawed around the world, this will be a dead end for us. Prices will crash.

Regularization is good for both, the government and the people because those who do not believer in bitcoin and they think it is a scam or bubble which can be burst anytime will start believing in bitcoin, because when there is government involve the trust will be built automatically.

Then the price and value of bitcoin will grow more than that of the present. I will warmly welcome this stance if the governments of all the countries announce bitcoin as their legal and regular currency.

Well i dont agree on that if bitcoin will be regulated by the government it can really be taxable and it can really have a corresponding amount which lead to bitcoin world going down like crazy because the excitement of the unstable  price and its value will change and yhere is no more investors will be going to invest a big amount because it is really bored and it can be  corrupt by goverment.

[screwUdriver]

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 support this stance. Governments don't necessarily need to outright ban bitcoin. They could just regulate or tax it to death making it prohibitively expensive and risky to use for almost anyone. If the whole world of governments declares a crusade against bitcoin, we will have hard times. Cryptocurrencies won't go away, but if they are universally outlawed around the world, this will be a dead end for us. Prices will crash.

Regularization is good for both, the government and the people because those who do not believer in bitcoin and they think it is a scam or bubble which can be burst anytime will start believing in bitcoin, because when there is government involve the trust will be built automatically.

Then the price and value of bitcoin will grow more than that of the present. I will warmly welcome this stance if the governments of all the countries announce bitcoin as their legal and regular currency.

Enhanced interest in the bitcoin as a means of payment and related transactions has brought the attention of law enforcement, regulators and tax authorities from almost all countries. The reaction in the various countries is ambiguous - from imposing a ban  or recognition as a legal tender.

[BingoDog]

I beleive that at some point bitcoin will be regulated in almost every country in the world. The increasing mumber of users, acceptance by businesses and impact that is having is demanding that.
Opposite to some I think that regulation doesn't have to be bad for bitcoin and regulation doesn't have to mean ban or taxation but it also can help bitcoin to be full implemented into society and finances and make boundaries between use and misuse.
I think EU will soon bring some directive that will regulate all cryptocurrencies.

[Jeepney_koh]

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

If the government of the many people who use Bitcoin will create a law on how to regulate Bitcoin, then it would be possible. But, to control Bitcoin, they can't unless they will pass a law to ban bitcoin in all internet websites.

[tee-rex]

I beleive that at some point bitcoin will be regulated in almost every country in the world. The increasing mumber of users, acceptance by businesses and impact that is having is demanding that.
Opposite to some I think that regulation doesn't have to be bad for bitcoin and regulation doesn't have to mean ban or taxation but it also can help bitcoin to be full implemented into society and finances and make boundaries between use and misuse.
I think EU will soon bring some directive that will regulate all cryptocurrencies.

I'm not quite sure that regulation would be good for bitcoin. My main concern is that people will be forced or tempted to disobey the rules once they are established due to bitcon's nature which opposes any regulation. I mean to say that when people can, for example, evade taxes, and bitcoin grants them this opportunity, they will definitely try to pull it off. And taxes may not be the only or primary concern of governments as soon as people start to massively violate these regulations whatever they might be.

[Sorliand]

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 we now see CME start to make some  regulatory framework around Bitcoin. one of main reasons that make bitcoin great is unsuitability and big version.

for all bitcoin network NO

[Brunus Januensis]

The strenght of crypto lies just in the fact that there is no regulating central authority.

[altcointalk14]

I beleive that at some point bitcoin will be regulated in almost every country in the world. The increasing mumber of users, acceptance by businesses and impact that is having is demanding that.
Opposite to some I think that regulation doesn't have to be bad for bitcoin and regulation doesn't have to mean ban or taxation but it also can help bitcoin to be full implemented into society and finances and make boundaries between use and misuse.
I think EU will soon bring some directive that will regulate all cryptocurrencies.

regulators are trying to cope with the fundamental changes in the structure of the financial and banking market. Central banks, on the other hand, strive to change their policies in such a way as to maintain control and regulate incoming technologies more and more rapidly.

[rancidgash]

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 support this stance. Governments don't necessarily need to outright ban bitcoin. They could just regulate or tax it to death making it prohibitively expensive and risky to use for almost anyone. If the whole world of governments declares a crusade against bitcoin, we will have hard times. Cryptocurrencies won't go away, but if they are universally outlawed around the world, this will be a dead end for us. Prices will crash.

Regularization is good for both, the government and the people because those who do not believer in bitcoin and they think it is a scam or bubble which can be burst anytime will start believing in bitcoin, because when there is government involve the trust will be built automatically.

Then the price and value of bitcoin will grow more than that of the present. I will warmly welcome this stance if the governments of all the countries announce bitcoin as their legal and regular currency.

In fact, traditional centralized organizations like banks, governments, regulators, and technology giants spend billions to find out how to use and control these technologies

[Kevin77]

I don't think its a possibility. Bitcoin is famous coz it doesnt have any regualtion.

Bitcoin is being regulated in a lot of developed countries right now and that has not stopped it from being famous. Trust me; this is not something we can all run away from as long as we are going to be making use of fiat anyway.
I am not the type that really likes the regulations of government but there are just some things that are just bound to happen to let peace reign. How do you think the government will survive without tax ?

[Vikingr]

actually, i'm agree to regulate bicoin use in daily life, but i can not agree with government control
regulation is good to protect citizen, but control is bad for it
this blockchain is invented to avoid this monopoly and central control

Regulators all over the world have begun to address the challenges presented by virtual currencies that bypass regulated banks, financial firms exchanges. Some other county also ban using bitcoin as they believed that bitcoin holds more disadvantages that its worth.

If you take the over all concept ,then people who lost a fortune or any amount of money in the market crash during the last recession will understand what a new market like bitcoin will offer,the banks and the central authorities might not like the concept as investors money will be flowing to a decentralized market and they cannot control the money and for this simple reason they could make things harder.

but some country already regulated it

Yeah, some countries are already regular Bitcoin. The step they legalize Bitcoin as payment tool is the great achievement of Bitcoin. The Bitcoin is very fast in transaction and it involves no banks or fees or taxes during the payment through Bitcoin. This will gives best rates to the seller and buyer too. The economy of that country will also be grown by the price of Bitcoin is increasing. The crypto currency like bitcoin rules over the paper money in a near future.

[luckybegum3907]

Bitcoin is very high, the only way to find out the owner of any transaction is detecting the IP address but it'll not work if the user has a good VPN software. It will be losing one of its most important and key feature "decentralization". People use bitcoin because they have full control over their funds. But if the government starts to regulate bitcoin, banks loose power and countries lose the huge control they have into banks and people. It is because of the reason that it will help more people in having an idea about what bitcoin actually is. In addition to this, it will also help the number of people to come and invest in bitcoin. There is no way that we can spread awareness about bitcoin amongst the people if we will not regulate bitcoin.

[South Park]

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.

[Rubble898zaitO]

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.

[akram143]

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 .