BITCOIN G20 6 FEBRUARY, WHAT HAPPENS?

[kizumin]

Yay, more FUD news and the market will bleed red. Can't we have peace and stability, please?

[preshpr1nce]

Yay, more FUD news and the market will bleed red. Can't we have peace and stability, please?

Not really FUD mate, there's 2 sides to a coin, we may see a small dip but long term this is great news for crypto.
Be interesting to see what the banking coins will do if they have to pay capital gains tax on the coins they were given for free.

But for the rest, I see nothing but positive long term from regulation, I know some serious traders who won't go near crypto due to no regulation.

Now let's also remember, G20 is going to DISCUSS regulations, it hasn't happened yet, no FUD from me.

[gargamel-crabman]

There are some great opinions here regarding the future of crypto regulation. It will get regulated for sure. Governments cant have the wild west continue like it is. Too much blood, too many gangsters! I doubt it will get banned altogether, since it's a new source of revenue in tax dollars.

The banks are going to try and fight it. They see their tombstones on the horizon! The ones who dont understand how to implement and fight it like Jamie Dimon will die off. The way I see Chase Bank now is very much like Blockbuster when Netflix came onto the scene. At least they'll always have Alaska.

[hurry_hore]

I see this issue such as the fact in some countries to block an application or perhaps internet channels. There are still rooms to penetrate if really needed by folks. In other side, I believe each government want to protect their interests and people. If more people need the crypto world to be alive, then it 'll be ... even more solid and steady of crypto world
Also It will be not easy for government to conclude, decide and make a rule. It needs time, thorough comprehensive reviews and a solid understanding of whole part. Then still a hope that crypto world will be still exist and perhaps after G20 6 February there is synergy scheme between government and crypto world that result to wriggling of crypto world. 

[Estrath]

The effect will be clearly negative, as there definitely will be a proposal to conclude an alliance/attempts of preliminary agreements about the mutual regulation of the crypto-currency market. Presumably, though prices will fall, there will not be any clear unified decisions on regulation of the cryptocurrency, so the market will recover quickly. Although the majority of the countries of G20  strongly oppose the cryptomarket development, some strong countries are more liberal to them, such as Japan. Therefore, I hope that world leaders will simply argue with each other and their grudges will be more important for them (as always) than the common coordinated decision.

[chipr]

What  will  happen  this  6 February if they  will decide  to  regulate ICOs  and  Cryptocurrencies, taxing them?

...

Do you  think is  better  to  buy-in after   the  crash at cheaper prices?

While there are many important ramifications that may or may not take place were such events to happen, such as taxes, market crashing, limits to amounts individuals can invest... when you say "if they decide", the "they" means something different to everyone in the international forum.

I'll interpret that as the government or governing tax and securities commissions, in each country. We know that many country governments have made moves just recently regarding cryptocurrency to the outright ban by the Chinese, yet many crypto firms operate there so to what extent that regulation is still unknown, the same for South Korea threatening to shut down all crypto exchanges to now placing firmer regulations on allowing compliant exchanges to remain operating, and almost all are placing tax implications on specifically cryptocurrency trading where there was not a firm rule before.

With all of this going on and mostly due to your concern over it, since we all have to weigh our own risks and some are heavily invested while other are not, I would say it is better to wait simply because it is 4 Feb today, and you are wanting to know about after 6 February.


So without giving advice, answering your own question with the concerns that you stated... it seems you might want to wait. At the same time it will take a period of time for new regulations to take effect, however it is wise to be prepared and that's only a matter of days now. Better safe than sorry maybe.

[ashmodeus]

What  will  happen  this  6 February if they  will decide  to  regulate ICOs  and  Cryptocurrencies, taxing them?

IN the  dot.come bubble  happened   the same (it  was the  far wast the  same  as ICO  today before  they regulated  them)  and   the price dropped  of  80%

Amazon  was   being traded at 70$,  and  then dropped  to  11$

And  Amazon is comparable  to  what Bitcoin  is  now  for  the crypto world.


Do you  think is  better  to  buy-in after   the  crash at cheaper prices?


P.S.  Stay away all  people  who  doesn't know  anything about  economic,  it' s  useless  to  say ''Hodl, Hodl''  if the  price will crash of 80%  and the market  will recover in 8  years.


What is  the best move if they  will tax  cripto?

What  will be  the  post apocaliptic scenario?

ok , I not too understand much about government regulation / international trade law or whatever people call it.
but , in my logic ,
if that really happened , of course its some a new ERA
indirectly , goverment started looking at crypto
i mean they seriously thinking about crypto on the future.
about new regulation from it , its very confused for me.

[chipr]

In my country and my bank, any deposit on my account (doesnt matter if local or international) above 20k USD means the bank will call you on phone and ask from whom and for what did you receive that money (already valid anti money laundering law). The payment is also likely to be sent to officials to check.

Really, in the US it's been a red flag for years now due to suspicion of drug money mostly and money laundering to deposit cash over $10,000. Your bank account will be tagged and you'll def need to answer as to where the money came from regardless of crytocurrency which has nothing to do with it. That is one of the reasons however that the amount that can be invested, fiat exchanged into crypto, is being regulated by more than one government already, to thwart criminal activity by cashing in money gained in illegal activities through crypto exhanges or hodling as BTC rather than using a bank, which is difficult to do with large quantities of cash.

[penig]

taxation is no problem and i'm not doing any illegal activities, so nothing to worry for me.

well only taxation is no problem. i still don't like if they go too far.
And i think this crypto is different from dot.com bubble

The difference between crypto and dot coms was that they had more substantial business plans than most coins.