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Author Topic: Could Bitcoin Ever Be Regulated?  (Read 399 times)
aalfadhala
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December 03, 2017, 05:03:28 PM
 #1

Could Bitcoin ever be regulated?

Hi all - As you have been hearing from the media in the past few days: the White House is currently monitoring Bitcoin, press secretary Sarah Huckabee mentioned in a press conference last Thursday.

Full interview: https://coinblip.com/blog/white-house-monitoring-bitcoin/


So my question is  - Could bitcoin ever be regulated, and if so what could be the impact of it on the market?
I personally think that bitcoin requires a whole new way of thinking. More flexible approach from governments, to allow it to develop legally within the free market.
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December 03, 2017, 05:09:33 PM
 #2

Obviously bitcoin can't be regulated, unless majority nodes and mining hashrate are owned by government or huge organization. But government can monitor bitcoin's blockchain, regulate all exchange and service which related to bitcoin and make rules about bitcoin usage.

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December 03, 2017, 05:10:42 PM
 #3

No, Bitcoin can't and won't be regulated. No way to do it for governments, it is just technically impossible, so the smartest thing they could do is to accept Bitcoin and let people free to use their money in any way they want.

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December 03, 2017, 05:16:00 PM
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he question is not whether #bitcoin should be regulated, but whether it *can* be regulated. The reality is "No". The rest is nostalgia.The bottom line is across the world there is no clear consensus on how to regulate the peer-to-peer cryptocurrency. The fact of the matter is it will be a continuous uphill battle for bureaucrats. It’s been eight years with people doing what they want with their wealth, and bitcoin technology has enabled this. However, that doesn’t mean governments will stop trying to enforce regulations. In fact, the nation-states will try harder as each, and every one of them will feel bitcoin’s economic disruption.

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December 03, 2017, 05:25:29 PM
 #5

It can be regulated, it is already starting to be regulated in some countries and it will definitely get more regulated in the future. But unlike other payment systems, it can't be regulated from within, governments won't be able to add new rules to Bitcoin's protocol that will regulate it for them - instead they will target businesses and their customers who use Bitcoin - they will require to keep your transaction logs and submit them to authorities when requested, they will be freezing exchange accounts, there will be more KYC/AML on exchanges, registered gambling sites and other services, people will have to pay taxes and so on. But the beauty of Bitcoin is that it will always be easy to circumvent all those regulations by simply using gray market services and covering your tracks. This is what people mean when they say that Bitcoin can't be regulated - no one can force you to comply with regulations, there will always be a choice.

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December 03, 2017, 05:27:22 PM
 #6

Thanks to god you are the only one who is right, bitcoin can be regulated, but only in the countries that they decide to

It can be regulated, it is already starting to be regulated in some countries and it will definitely get more regulated in the future.

But you all should know that if we talk about regulation we are just talking about prohibiting the buying and selling of bitcoins in there.

Just like it happened in china, they just wanted to regulate it, but they prohibited the buy/sell of bitcoin and almost all the other cryptos.

And in the US is almost happening the same, it is very difficult to buy or sell btc, and you need to pay high taxes for it.


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December 03, 2017, 05:35:11 PM
 #7

For sure it can be regulated. Governments can impose great restrictions on investors & traders through regulating the exchanges, enforcing taxation, legally requiring citizens to declare their holds etc. As Bitcoin becomes more mainstream I think more regulation is inevitable at this point.

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December 03, 2017, 05:39:18 PM
 #8

No, Bitcoin can't and won't be regulated. No way to do it for governments, it is just technically impossible, so the smartest thing they could do is to accept Bitcoin and let people free to use their money in any way they want.
Yo don't know what you're saying. Of course it could be regulated. It's enough to regulate the exchanges and you got yourself a partially regulated Bitcoin, without imposing a single law regarding Bitcoin itself. Cut the flow of fiat into the system and you can partially control it, at least until it all moves to the deep web to avoid your regulations Wink


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December 03, 2017, 05:41:40 PM
 #9

For sure it can be regulated. Governments can impose great restrictions on investors & traders through regulating the exchanges, enforcing taxation, legally requiring citizens to declare their holds etc. As Bitcoin becomes more mainstream I think more regulation is inevitable at this point.

What if people decide to patronize offshore exchanges/ deepweb guys and not the local ones with which they governments can and may impose sanctions and restrictions? I think the best they could  is to make it difficult to use bitcoin through their sanction impositions but they cannot completely and effectively regulate bitcoin



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December 03, 2017, 05:46:00 PM
 #10

From the technical point of view, bitcoin is centralization, and can not be controlled. Or it's hard to control unless you can control these nodes. But this is all over the world.
But each country may have some measures to control the transaction.
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December 03, 2017, 05:47:21 PM
 #11

Bitcoin has been created as a decentralized currency and so,it could not be completely controlled.That's the reason,china and russia were struggling to regulate and control it.The only thing that they could do is to regulate the bitcoin exchanges and all trading platforms to strictly follow KYC on joining new customers.Just we saw few months earlier,china imposed strict regulations over bitcoin exchanges there and asked them to follow KYC so that money laundering could be stopped.

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December 03, 2017, 05:48:57 PM
 #12

Partially governments can impose several restrictions in order to regulate its use through controlling exchanges and making red lines that shouldn't be surpassed by bitcoin users inside the state , but I think they will find some difficulties because , practically , bitcoin is a decentralised money transferring technology .

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December 03, 2017, 05:53:20 PM
 #13

But it does not changes anything, the KYC is just a new police to know how the fuck are those who are investing or depositing money in there.

to strictly follow KYC on joining new customers.

That is something that does not regulate anything, it is not a regulation and maybe it is just a new way to see who is really involved in cryptos.
But in fact, it is never going to be regulated because there is no way to do it.

And all that thing that came up from China were just shit, they have never regulated it, only that they are not supporting bitcoin at all.




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MiiDoViic
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December 03, 2017, 05:59:45 PM
 #14

Bitcoin has too much freedom . Governements well try their all to regulate and monitore this technology which i don't think is easy ,But to be expected in the future somehow somewhat.

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December 08, 2017, 11:43:17 PM
 #15

Could Bitcoin ever be regulated?

Hi all - As you have been hearing from the media in the past few days: the White House is currently monitoring Bitcoin, press secretary Sarah Huckabee mentioned in a press conference last Thursday.

Full interview: https://coinblip.com/blog/white-house-monitoring-bitcoin/


So my question is  - Could bitcoin ever be regulated, and if so what could be the impact of it on the market?
I personally think that bitcoin requires a whole new way of thinking. More flexible approach from governments, to allow it to develop legally within the free market.
The bitcoin would never be regulated. The best way for them to do is to take advantage and monitor bitcoin that's it. Technically speaking, Bitcoin is a decentralized digital currency and it was all up to the banks if they want to accept bitcoin or not, the government will never gonna stand a chance to jeopardize or manipulate the bitcoin even regulating it.
jirene21
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December 09, 2017, 12:49:04 AM
 #16

Could Bitcoin ever be regulated?

Hi all - As you have been hearing from the media in the past few days: the White House is currently monitoring Bitcoin, press secretary Sarah Huckabee mentioned in a press conference last Thursday.

Full interview: https://coinblip.com/blog/white-house-monitoring-bitcoin/


So my question is  - Could bitcoin ever be regulated, and if so what could be the impact of it on the market?
I personally think that bitcoin requires a whole new way of thinking. More flexible approach from governments, to allow it to develop legally within the free market.

Bitcoin can be regulated by the government. If the price/value constantly grow. because any imbalance in the economy will affect the government which government doesn't like to happen. which will make them a take a step to prevent us. protecting the legal companies are their priority not like bitcoin who is not under/connected to any government. so they can regulate us or for the worse they could ban us. thinking rationally the government might make us their pawn. so that they could control the economy. this will be a huge impact to us.
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December 09, 2017, 01:14:41 AM
 #17

For me, it is a good thing that bitcoin will be regulated. Even though that their is any possibilities that it will lead from being controlled by the government but I believe it would help by boosting the trust by the community towards crypto and it could help from staying to us for a long time.
And I think we should not be afraid of tax because it can only help to improve our economy and create more projects which is all of us were can benefits from this.

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December 09, 2017, 01:48:54 AM
 #18

For me, it is a good thing that bitcoin will be regulated. Even though that their is any possibilities that it will lead from being controlled by the government but I believe it would help by boosting the trust by the community towards crypto and it could help from staying to us for a long time.
And I think we should not be afraid of tax because it can only help to improve our economy and create more projects which is all of us were can benefits from this.

It is good if the tax where used by the government, but if it is used by some corrupt government officials, then no thanks on regulating bitcoin on the purpose. That's the edge of bitcoin and its advantage on other currency.
Government cannot FULLY regulate bitcoin.

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December 09, 2017, 02:02:07 AM
 #19

I believe it can be regulated and that time is not far away.

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December 09, 2017, 02:04:35 AM
 #20

there's a possibility because bitcoin is on mainstream now
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