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Author Topic: Regulation of bitcoin: dream or Inevitable  (Read 231 times)
hugeblack
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February 17, 2018, 05:28:00 PM
 #1

Financial regulations are imposed by governments on businesses and financial institutions in order to manage a nation's financial system. Bitcoin is not governed by any central authority and is free from such influences.[1]

On the other hand, bitcoin needs exchange platform So the solution to regulate bitcoin is to regulate the exchanges. If that happens, then the big banks will open their doors, making life easier for exchanges and investors alike. The banks will win from this too, because they can stop customers drifting away to more daring competitors. [2]

which scenarios will occur? "More Regulation or More Decentralization"

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February 17, 2018, 05:54:30 PM
 #2

I think that regulation is something that is inevitable and more and more countries will decide to regulate Bitcoin in some way. But I don't think that regulation is equal to centralization. Bitcoin can be regulated and decentralized at the same time.
Regulation means seting some rules how Bitcoin should be treated, what is legal and what isn't, how it should be fitted into financial framework.
I think that regulation could strengthen Bitcoin and help it to be more accepted, we don't have to be afraid of that.

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February 17, 2018, 06:00:48 PM
 #3

I think that regulation is something that is inevitable and more and more countries will decide to regulate Bitcoin in some way. But I don't think that regulation is equal to centralization. Bitcoin can be regulated and decentralized at the same time.
Regulation means seting some rules how Bitcoin should be treated, what is legal and what isn't, how it should be fitted into financial framework.
I think that regulation could strengthen Bitcoin and help it to be more accepted, we don't have to be afraid of that.

Regulations are set by a central authority without the approval of another parts involved on the situation (Bitcoin enthusiasts). Banks and governments create the rules they want and impose it to you. And with rules the taxes come together... By dealing with Crypto-Currency you will be just working for the government (that doesn't share the risk when you are investing on this volatile market, but wants a peice of the final profit). I think it's very centralized.

But indeed it's inevitable...

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February 17, 2018, 06:03:21 PM
 #4

I think we will have a combination of both those things happening concurrently. You will have centralized exchanges getting more regulated but at the same time you will have decentralized exchanges getting more popular because of it. The best part about this all is that we let the free markets decide which is better. If people who are getting into crypto truly understand what this game is about, then in 5 years time I think DEX's will dominate the scene more, and I sincerely hope this progression happens.

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February 17, 2018, 06:07:40 PM
 #5

I think that regulation is something that is inevitable and more and more countries will decide to regulate Bitcoin in some way. But I don't think that regulation is equal to centralization. Bitcoin can be regulated and decentralized at the same time.
Regulation means seting some rules how Bitcoin should be treated, what is legal and what isn't, how it should be fitted into financial framework.
I think that regulation could strengthen Bitcoin and help it to be more accepted, we don't have to be afraid of that.
I totally disagree to that, regulation is not equals to decentralization but will finally lead it to centralization. The way most government view bitcoin is not the same we investors may view it. They may claim to regulate bitcoin but end up placing rules and law that will place bitcoin into the hands of the riches; there won't be normal circulation of bitcoin the way it is now.

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February 17, 2018, 07:17:38 PM
 #6

I think that regulation is something that is inevitable and more and more countries will decide to regulate Bitcoin in some way. But I don't think that regulation is equal to centralization. Bitcoin can be regulated and decentralized at the same time.
Regulation means seting some rules how Bitcoin should be treated, what is legal and what isn't, how it should be fitted into financial framework.
I think that regulation could strengthen Bitcoin and help it to be more accepted, we don't have to be afraid of that.
I totally disagree to that, regulation is not equals to decentralization but will finally lead it to centralization. The way most government view bitcoin is not the same we investors may view it. They may claim to regulate bitcoin but end up placing rules and law that will place bitcoin into the hands of the riches; there won't be normal circulation of bitcoin the way it is now.

I think you have somewhat misunderstood on previous statement. Here regulations means, a country specific framework. No countries will be able to control the bitcoin network. IT will remains de-centralized in all true senses. But the countries may provide regulations on how bitcoin or other crypto currencies should be treated within their country limit. They may legalize it, ban it or impose taxes on it. This is what is meant in the previous statement and that's true!

Regulation is inevitable and the way bitcoin is progressing, majority of the countries will legalize it in near future because that would provide them with a steady flow of tax income and also help the unemployment scenario to some extent. But no government will be able to control the bitcoin network in any way. They can simply tell their citizens about their entitlement within their jurisdiction limit. 

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February 17, 2018, 07:39:06 PM
 #7

More regulation in bitcoin is inevitable. There are too many illegal activities occurring in terms of money laundering and tax evasion and so greater regulation is needed. In crypto as a whole there are then the many issues with scams and such that regulation will hope to target.

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February 17, 2018, 08:10:05 PM
 #8

I think that regulation is something that is inevitable and more and more countries will decide to regulate Bitcoin in some way. But I don't think that regulation is equal to centralization. Bitcoin can be regulated and decentralized at the same time.
Regulation means seting some rules how Bitcoin should be treated, what is legal and what isn't, how it should be fitted into financial framework.
I think that regulation could strengthen Bitcoin and help it to be more accepted, we don't have to be afraid of that.
I totally disagree to that, regulation is not equals to decentralization but will finally lead it to centralization. The way most government view bitcoin is not the same we investors may view it. They may claim to regulate bitcoin but end up placing rules and law that will place bitcoin into the hands of the riches; there won't be normal circulation of bitcoin the way it is now.

I think you have somewhat misunderstood on previous statement. Here regulations means, a country specific framework. No countries will be able to control the bitcoin network. IT will remains de-centralized in all true senses. But the countries may provide regulations on how bitcoin or other crypto currencies should be treated within their country limit. They may legalize it, ban it or impose taxes on it. This is what is meant in the previous statement and that's true!

Regulation is inevitable and the way bitcoin is progressing, majority of the countries will legalize it in near future because that would provide them with a steady flow of tax income and also help the unemployment scenario to some extent. But no government will be able to control the bitcoin network in any way. They can simply tell their citizens about their entitlement within their jurisdiction limit.  

Ecactly that was my point. I don't know why people think that with regulation governments will be able to control Bitcoin network. This only shows how little understanding and knowledge people have when Bitcoin is involved.
Regulation is just legal framework how some government in some country will try to set the rules for cryptocurrencies and citizens who use them. But they can't control Bitcoin network, don't mix these things together!

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February 17, 2018, 08:23:06 PM
 #9

Regulation of the exchanges is a good idea)) concidering the news about bots manipulating the market, it's essential. So if you were wondering how Bitcoin suddenly appreciated in value by a factor of 10 within the span of one month, well, this may be why
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February 17, 2018, 09:49:30 PM
 #10

I think imposing regulations will likely to happen for bitcoin, it is because I'm sure that government will not stop until they were able to find ways on how to control the market of cryptos especially bitcoin. Time will come that bitcoin will become legal in the country's market but surely government will control the market as well as exchanges.

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February 17, 2018, 10:21:20 PM
 #11

all countries are now making regulations about this bitcoin, this can not be rejected by anyone including us [bitcoin lovers]. this is because the government wants this bitcoin also centered by government regulations.
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February 17, 2018, 10:26:52 PM
 #12

Financial regulations are imposed by governments on businesses and financial institutions in order to manage a nation's financial system. Bitcoin is not governed by any central authority and is free from such influences.[1]

On the other hand, bitcoin needs exchange platform So the solution to regulate bitcoin is to regulate the exchanges. If that happens, then the big banks will open their doors, making life easier for exchanges and investors alike. The banks will win from this too, because they can stop customers drifting away to more daring competitors. [2]

which scenarios will occur? "More Regulation or More Decentralization"

The most possible scene would be, there will be more regulations to happen to make it easier for investors to exchange their digital currency to fiat money. Easy access and governed transaction will be imposed if bitcoin exchange is regulated. This is the future of cryptocurrency where it would be like business and the government would impose taxation in bitcoins and other cryptocurrencies, so better to be regulated rather than being banned.

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February 17, 2018, 10:27:01 PM
 #13

Regulation of the exchanges is a good idea)) concidering the news about bots manipulating the market, it's essential. So if you were wondering how Bitcoin suddenly appreciated in value by a factor of 10 within the span of one month, well, this may be why

It depends on what the regulations will bring to the table. For instance you can require exchanges to register as companies and have collateral and insurance that will pay for the damages in case of a loss of funds on their part. This is great as the exchanges were always the weak point in crypto security.

On the other hand the regulator may require full disclosure: client's names, coin addresses, balances... That would be a disaster.
I'm of course comparing the best scenario with the worst to give you a perspective, but such things can happen. We can't deny it. That's one of the reasons why i'm afraid of regulations and would prefer more decentralization, even if the exchanges would remain a wild west.

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Crish Leone
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February 17, 2018, 10:34:45 PM
 #14

I think that regulation is something that is inevitable and more and more countries will decide to regulate Bitcoin in some way. But I don't think that regulation is equal to centralization. Bitcoin can be regulated and decentralized at the same time.
Regulation means seting some rules how Bitcoin should be treated, what is legal and what isn't, how it should be fitted into financial framework.
I think that regulation could strengthen Bitcoin and help it to be more accepted, we don't have to be afraid of that.

It's true my brother ,, I strongly agree with you, while there is no clear regulation we will continue like this, stick to our principles, to be successful with Bitcoin.
In fact almost all over the world bitcoin is still accepted, it's a sign Bitcoin remains one of the right investment options for the world community ..
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February 17, 2018, 11:31:11 PM
 #15

Financial regulations are imposed by governments on businesses and financial institutions in order to manage a nation's financial system. Bitcoin is not governed by any central authority and is free from such influences.[1]

On the other hand, bitcoin needs exchange platform So the solution to regulate bitcoin is to regulate the exchanges. If that happens, then the big banks will open their doors, making life easier for exchanges and investors alike. The banks will win from this too, because they can stop customers drifting away to more daring competitors. [2]

which scenarios will occur? "More Regulation or More Decentralization"

If Bitcoin is going to be a mainstream technology, then it will gave some kind of government regulations. If it is just a black market currency, then it can exist without regulations. It really depends on how we as the users of it want it to exist. I think the direction it is going now is to be mainstream and regulated. I don’t think we can change its course now unless governments decide to ban it.














 

 

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Beerwizzard
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February 18, 2018, 01:09:38 AM
 #16

I think that regulation is something that is inevitable and more and more countries will decide to regulate Bitcoin in some way. But I don't think that regulation is equal to centralization. Bitcoin can be regulated and decentralized at the same time.
Regulation means seting some rules how Bitcoin should be treated, what is legal and what isn't, how it should be fitted into financial framework.
I think that regulation could strengthen Bitcoin and help it to be more accepted, we don't have to be afraid of that.

Regulations are set by a central authority without the approval of another parts involved on the situation (Bitcoin enthusiasts). Banks and governments create the rules they want and impose it to you. And with rules the taxes come together... By dealing with Crypto-Currency you will be just working for the government (that doesn't share the risk when you are investing on this volatile market, but wants a peice of the final profit). I think it's very centralized.

But indeed it's inevitable...
Feel free to create a union of Bitcoin enthusiasts that will hire some good lawyers and economists (honestly crypto society is lacking of them), make some summits where you will invite government authorities and bankers, discuss the situation around cryptocurrencies and how it can work in current society, then prepare a project of the healthy crypto regulation and push it to the government. Then it will be approved by both sides. Does it sound too hard? Unfortunately I haven't see a strong will to do something like that. Both sides only scream that everything is bad.

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February 18, 2018, 01:37:13 AM
 #17

Financial regulations are imposed by governments on businesses and financial institutions in order to manage a nation's financial system. Bitcoin is not governed by any central authority and is free from such influences.[1]

On the other hand, bitcoin needs exchange platform So the solution to regulate bitcoin is to regulate the exchanges. If that happens, then the big banks will open their doors, making life easier for exchanges and investors alike. The banks will win from this too, because they can stop customers drifting away to more daring competitors. [2]

which scenarios will occur? "More Regulation or More Decentralization"

IMO there would be more regulations that will occur and its really inevitable.There are countries that already implemented regulations to bitcoin users at the moment.If banks would do such matters then bitcoin will become less decentralized.We all know that one of the reason why bitcoin is useful to every individual is because of its decentralized nature.Although it is a good idea of putting regulations  to bitcoin than completely banning it.It will depend on how we use it also,if banks will be more threatened of bitcoin then things in the future will be unpredictable.

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February 18, 2018, 03:33:49 AM
 #18

Its more of inevitable because you’ll never know when the price will increment of decrement.

Bitcoin is more likely dependent on the economic status of the world and the country.

Bitcoin is just digitalized and can be transformed into physical monetary value.

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February 18, 2018, 03:51:50 AM
 #19

For me it'll stay decentralized banks will never appreciate something they can't control and even they try they will be had a really hard time to figure out regulating  bitcoin so i really think bitcoin will gonna stay decentralized for a long time

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February 18, 2018, 04:00:20 AM
 #20

Regulation is something we could never avoid. Though nobody can really regulate Bitcoin by itself, the government can impose regulatory parameters on the buying and selling of the said cryptocurrency. There is actually no problem if nobody will be converting Bitcoin to fiat but this is not the case because we still have to use the fiat money when dealing with Bitcoin. Everything will revolved in the buying and selling of Bitcoin. That is where the government can impose regulations and as long as there will be the government existing then this is something we can never get away from...most especially the most important part of the regulation: the tax. At any rate, we should not be worrying too much on regulations because this is much much better than what the China did (the ban).

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