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Author Topic: Why do we need to regulate digital money  (Read 4588 times)
Labajah
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September 12, 2018, 09:14:13 PM
 #721

Digital currency is to change the world, many of which were positive, to a certain extent, they pose a containment of the government, gave the people an alternative, but that doesn't mean they don't need to be regulated.


One of the core reason is: anonymous, do not track, not regulated digital currency will make form a closed loop technology crime, money laundering and terrorist, and disappear from unsolved bits, bytes, while the impact damage with each person in this world.


If every penny of extortion is tracked, is there enough motivation and courage to launch a WannaCry to attack the world?


Yes,  bitcion needs a regulation for the prevention of illegal activities like scamming,  money laundering and terrorism. Because digital money currency is decentralized and no one obliged to blame if there is a problem that happened. And this regulations also protect the good reputation of digital money currency.
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September 12, 2018, 09:31:40 PM
 #722

Digital currency is to change the world, many of which were positive, to a certain extent, they pose a containment of the government, gave the people an alternative, but that doesn't mean they don't need to be regulated.


One of the core reason is: anonymous, do not track, not regulated digital currency will make form a closed loop technology crime, money laundering and terrorist, and disappear from unsolved bits, bytes, while the impact damage with each person in this world.


If every penny of extortion is tracked, is there enough motivation and courage to launch a WannaCry to attack the world?
At least a bit of regulation is needed for cryptocurrencies, otherwise they will become a way of creating chaos in civilized world.
Of course, fiats are also used for terrorism and all the shady business, but these can be tracked and prevented in time.
I am really scared when I think of a terrorist attack being done in my own city using the funds related to bitcoin - if this once is being revealed, all my trust in crypto will be vanished.

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September 12, 2018, 10:54:01 PM
 #723

It is also beneficial to all if digital money be regulated specially in this millenial age, that people are dependent on computer system, overall it provides convenience to us, because it’s just a matter of computer touch and transactions done, no need to travel or drive to do such transactions, but hopefully the system won’t be abused by criminal minds also.
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September 12, 2018, 11:05:48 PM
 #724

many benefits that we will get if the digital currency is regulated
- we can report to the police if we lose the digital currency.
- the digital currency is safe, and its security is guaranteed by the authorities.
- and can be used for anything, especially payment instruments, even though it will be taxed.

maybe many more benefits will be obtained if the digital currency is regulated...

ntodntodan69
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September 13, 2018, 12:31:02 AM
 #725

of course, we must be able to manage our digital money, so what? so we don't get big losses. then we must be able to regulate and predict digital currencies that are now widely circulating in the market!
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September 13, 2018, 01:15:15 AM
 #726

Blockchain was designed to be decentralized in order to bring to the people the freedom associated with finances. Well, many crypto users believe that once crypto is allowed to be regulated by the governments, the market will gain an additional market value in the sense that the long created tension and fear that wards off many potential investors will be cleared.

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September 13, 2018, 08:56:28 AM
 #727

yes , it needs regulation for the prevention of illegal activities like scamming, terrorism and money laundering .
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September 13, 2018, 09:03:28 AM
 #728

All things should be regulated as if left alone, they can get out of control. It is inevitable. Regulations are a necessity in life as long as they are not perverted to benefit only a few.

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September 13, 2018, 09:05:15 AM
 #729

Crypto-currencies need to be regulated so that clutter does not reign in the market.After that, the most worthy and high-quality crypto-currencies will remain and the price will not change so dramatically.And there is not any fraud.
yes, i agree with you, regulation is needed to minimize manipulation that occurs in the crypto market, which is caused by large investors, so that the volatility of crypto can be reduced

Janation
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September 13, 2018, 09:10:59 AM
 #730

Crypto-currencies need to be regulated so that clutter does not reign in the market.After that, the most worthy and high-quality crypto-currencies will remain and the price will not change so dramatically.And there is not any fraud.
yes, i agree with you, regulation is needed to minimize manipulation that occurs in the crypto market, which is caused by large investors, so that the volatility of crypto can be reduced

Do you even know what does regulation means? It means that the crypto currency or let's say Bitcoin will be accepted in a country, people will be able to have some safe transactions since they are protected by the government.

Being regulated doesn't mean that the volatility will be reduced. It will still stay the same, it's volatility will never change. And do you even know what you are saying? You will let the government control the volatility of Bitcoin? The reason that there are a lot of investors on Bitcoin and crypto currency is that it is decentralized. And I don't think that the government will be able to do that since we are talking about Bitcoin. As long as there are a lot of users and investors, the volatility will always stays the same.

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September 13, 2018, 09:17:36 AM
 #731

As long as digital currencies can not be directly separated from fiat currencies. It think we are some how regulate the cash flow in of digital currencies. Think of this.
If i convert my $100 fiat currency into an equivalent of Bitcoin/Ethereum and in engage in a trade online and earn $50. Eventually i will cash out my profit and principal into fiat. Which in the sense will be regulated.

However, in situation where i can send a huge some of money without any query on the internet? then i think this is where the regulation has to come in. Because we can not allow or promote the act of money laundering that will support violet act in our society.
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September 13, 2018, 09:20:24 AM
 #732

Cause when you want it to become use as money we do need a better protection and something that make all transaction is possible and legal. So we do need goverments to help for mass adoption and to help to make more development, cause i believe goverments have a big influence in economy .

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Madara_Uchiha
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September 13, 2018, 10:12:52 AM
 #733

If states do not regulate cryptocurrencies, scammers and criminals can use it for their own purposes.

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September 13, 2018, 10:25:29 AM
 #734

I think we need a centralized regulatory body or several bodies that has an international reach to minimize corruption, scams that happens on the cryptocurrency world! In the long run it will be good for everyone. This sort of plan has to be in motion, until Humans cultivate better qualities about other human beings ...
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LittleMermaid
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September 13, 2018, 10:32:53 AM
 #735

I think we need a centralized regulatory body or several bodies that has an international reach to minimize corruption, scams that happens on the cryptocurrency world! In the long run it will be good for everyone. This sort of plan has to be in motion, until Humans cultivate better qualities about other human beings ...
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Agreed 100%
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September 13, 2018, 10:42:48 AM
 #736

Digital currency is to change the world, many of which were positive, to a certain extent, they pose a containment of the government, gave the people an alternative, but that doesn't mean they don't need to be regulated.


One of the core reason is: anonymous, do not track, not regulated digital currency will make form a closed loop technology crime, money laundering and terrorist, and disappear from unsolved bits, bytes, while the impact damage with each person in this world.


If every penny of extortion is tracked, is there enough motivation and courage to launch a WannaCry to attack the world?
We can regulate it but not in a centralized way. That is why they have created the blockchain and every hash of it is secure. Nonetheless, the market is still down for this moment and it does not need any more regulation. People will find it hard to regulate crypto because they are very volatile.

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Glutius
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September 13, 2018, 09:13:03 PM
 #737

And it seems to me that the old model of the world is becoming obsolete, and bitcoin is one of the steps to change the device of our world. That is why it should remain free and not be regulated by any government.

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September 13, 2018, 09:21:36 PM
 #738

Perhaps, to some small extent bitcoin is really worth controlling, but to do it so that it does not contradict all its basic ideas. Only in this case the regulation will make sense for bitcoin.

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September 13, 2018, 09:30:06 PM
 #739

But this is completely contrary to all the ideas of bitcoin. It was conceived as a decentralized currency. It does not need to be regulated, and I hope that this will not happen anywhere.

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September 13, 2018, 10:23:27 PM
 #740

Although I hope it does not get regulated but I feel it will need to be at some point to avoid bad people out there exploiting it. At the moment there are still a lot of gray areas where people can “legally” do dodgy businesses without getting into trouble.
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