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Author Topic: How is bitcoin supposed to be?  (Read 1917 times)
AJINSP1997
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June 08, 2018, 02:51:03 AM
 #41


I agree that there should be some level of regulation to protect users or at least to prevent malicious activity. But with the way it is designed, I’m not sure how this can be done.
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June 08, 2018, 03:10:02 AM
 #42

One of the most commonly touted benefits of Bitcoin is anonymity. Many people prefer their transactions to not be linked to their names for political or philosophical reasons. Others do so for the sake of their privacy, such as when making an anonymous donation to a charity. Yet law enforcement around the world is steadily getting better at tracing Bitcoin transactions and finding the names behind the wallets.
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June 08, 2018, 03:49:37 AM
 #43

If you search at the google about bitcoin for criminals, there is a lot.
For example at this link https://www.thesun.co.uk/tech/5092224/criminals-use-bitcoin-for-dark-web-illegal-activity/amp/.
So if there is nothing correct regulations, maybe a lot of countries will be block this payment system.
And as the effects, price of BTC will be drop soon.
So let's start to discuss, what it the right regulations to avoid Bitcoin used as a payment for crime. 
Tell me is there a regulation that has been created that makes people to not use guns in criminal activities? Criminals do not respect the law, that is why they are criminals, there is no law that you can pass which will make people not use bitcoin for criminal activities, what you are saying is precisely why the governments can get away with passing all kind of intrusive laws because some think there is a magic law which can be created which makes everyone to behave and that is unrealistic.
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June 08, 2018, 04:02:54 AM
 #44

Fiat money too can be oriented for criminal use.
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June 08, 2018, 06:31:02 PM
 #45

It depends entirely on users, they use it for any purpose. They use Bitcoin for criminal purposes or use it for ethical purposes. We should use Bitcoin to follow or follow it.
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June 26, 2018, 09:26:23 PM
 #46

If you search at the google about bitcoin for criminals, there is a lot.
For example at this link https://www.thesun.co.uk/tech/5092224/criminals-use-bitcoin-for-dark-web-illegal-activity/amp/.
So if there is nothing correct regulations, maybe a lot of countries will be block this payment system.
And as the effects, price of BTC will be drop soon.
So let's start to discuss, what it the right regulations to avoid Bitcoin used as a payment for crime. 

Government now implementing law to avoid this scenario. Though it's not followed by the others because they want "decentralized system" to avoid or bypass taxation. The Anti Money Laundering law(AML) is implemented to avoid people from bypassing their burden tax through Know Your Customer(KYC) which force to reveal the identity of the crypto user before they withdraw and liquidate their cyptos. Every bank uses KYC to know who uses their service and what kind of transactions he/she made. Many people don't like it but there's nothing much they can do about it. Yes, people use dark web to buy stuffs there. But to liquidate crypto, it is impossible to do without being traced or reveal your identity.
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June 29, 2018, 03:30:38 PM
 #47

it will solely depende on the user. we cannot control how anyone would use bitcoin. and it is designed that way.
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June 29, 2018, 03:36:35 PM
 #48

to prevent such payments first of all the governments need to remove the privacy coins such which use different blocks all the time and the sender anyhow can`t be identified after that the KYC such as ICO`s would solve the problem I guess.
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June 29, 2018, 03:49:05 PM
 #49

As far as am concern Bitcoin is deemed as money and is supposed to be exchanged for local currencies, so as long as it carries value in its shoulders, this will be a hot target for criminals. Fiat money also faces the same scenario: fiat is heavily used in illegal arms trades and drug money as well yet no one bats an eye since, well, it's printed by the lovely government. Money can be literally used in everything that demands payment, so as long as there are the shady guys demanding bitcoins as a form of payment, people will pay it to get what they want.
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July 26, 2018, 01:45:40 AM
 #50

If you search at the google about bitcoin for criminals, there is a lot.
For example at this link https://www.thesun.co.uk/tech/5092224/criminals-use-bitcoin-for-dark-web-illegal-activity/amp/.
So if there is nothing correct regulations, maybe a lot of countries will be block this payment system.
And as the effects, price of BTC will be drop soon.
So let's start to discuss, what it the right regulations to avoid Bitcoin used as a payment for crime. 


if in my opinion the bitcoin owner should register the company to obtain a certificate of registration, and that has been done by the central bank of the Philippines, so perhaps in the future by regularly collecting data that many countries will approve bitcoin as an alternative payment tool, awaiting a safe and fast system, it can be achieved when many countries open up huge chances of bitcoin.
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July 26, 2018, 08:53:25 PM
 #51

i think those attacks to the bitcoin is well coordinated
and my guess would be that the primary target is to control cryptomarket
first they want to compromise bitcoin and then other currencies.
because all financial   flow must be controlled by them ( governments )
I absolutely agree with you. All these conversations about the use of crypto currency  in criminals, this is just an excuse. in order to later try to control it, and if it does not work out - to ban. The criminals and before that there were so many ways not to leave traces in their illegal financial activities. The emergence of crypto currency does not significantly affect the increase in the number of crimes. In addition, the crypto currency, this is just a possible instrument of the crime, the person who was responsible for the crime was and still is.
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July 27, 2018, 01:25:41 AM
 #52

If you search at the google about bitcoin for criminals, there is a lot.
For example at this link https://www.thesun.co.uk/tech/5092224/criminals-use-bitcoin-for-dark-web-illegal-activity/amp/.
So if there is nothing correct regulations, maybe a lot of countries will be block this payment system.
And as the effects, price of BTC will be drop soon.
So let's start to discuss, what it the right regulations to avoid Bitcoin used as a payment for crime. 


in fact many countries are implementing certain rules for bitcoin owners, but to prevent the occurrence of crimes such as money laundering it seems the criminals not only use bitcoin, because there are still many ways to wash their money, so for the regulation we leave it to each country they certainly have a certain way that is considered suitable, for example the European side by way of registering the owners of bitcoin, other developed countries by way of registering the movement of the money itself.
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July 30, 2018, 08:24:39 AM
 #53

In my thought owner of bitcoin should register itself as per guideline provided by the government or central bank of the country. Legal way is the only way to approve bitcoin supposed to be as an alternate payment tool by the countries. To open up huge chances of bitcoin through use of latest, fast and safe system.
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July 30, 2018, 02:55:28 PM
 #54

If you search at the google about bitcoin for criminals, there is a lot.
For example at this link https://www.thesun.co.uk/tech/5092224/criminals-use-bitcoin-for-dark-web-illegal-activity/amp/.
So if there is nothing correct regulations, maybe a lot of countries will be block this payment system.
And as the effects, price of BTC will be drop soon.
So let's start to discuss, what it the right regulations to avoid Bitcoin used as a payment for crime. 

The "right" regulations would be all the new rules that remove the anonymousy of btc transactions.
"Know your customer" policies and ID verifications would become mandatory for all online bitcoin wallet services and all exchange platforms.The harder for criminals to stay anonymous ,the better for the bitcoin community.I know that a lot of crypto supporters hate the KYC regulations,but there`s no other way to reduce the crimes and fraudulent activities with btc involved.
the first bitcoin weaknesses are the absence of regulators, all free to use them from different countries, because this is the bitcoin is often a form of crime theft because it is a very big value, and the function of government regulate or must be the rule for biicoin to avoid this crime.
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July 30, 2018, 10:46:32 PM
 #55

I really don't understand this fetish people have about implementing regulations everywhere... You ask how Bitcoin is supposed to be and then start talking regulations are a must otherwise governments will ban it and the price will fall. I believe Bitcoin is supposed to have nothing to do with regulations. You have Blockchain system and it's already public and transparent for all, so what regulation do you need?

 
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July 31, 2018, 12:56:57 PM
 #56

For me this cannot be stoped, look at normal cash, do people do something to avoid using money to be used in crimes? Not. The same is with coins, we should find the way to make the law stronger and make the people to live a good life but not find a "mistakes" in ways of payments cash/ coins.
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July 31, 2018, 01:25:28 PM
 #57

If you search at the google about bitcoin for criminals, there is a lot.
For example at this link https://www.thesun.co.uk/tech/5092224/criminals-use-bitcoin-for-dark-web-illegal-activity/amp/.
So if there is nothing correct regulations, maybe a lot of countries will be block this payment system.
And as the effects, price of BTC will be drop soon.
So let's start to discuss, what it the right regulations to avoid Bitcoin used as a payment for crime. 

The "right" regulations would be all the new rules that remove the anonymousy of btc transactions.
"Know your customer" policies and ID verifications would become mandatory for all online bitcoin wallet services and all exchange platforms.The harder for criminals to stay anonymous ,the better for the bitcoin community.I know that a lot of crypto supporters hate the KYC regulations,but there`s no other way to reduce the crimes and fraudulent activities with btc involved.
for the value I think bitcoin has been like this is quite profitable for some circles, whether the investors or trade, because for the miners will not have a big effect, but the need to set up the deficiencies and weaknesses of bitcoin can be overcome so some actions we do not want will occur, the taxation system may be applied but reasonably.
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July 31, 2018, 03:28:34 PM
 #58

For me this cannot be stoped, look at normal cash, do people do something to avoid using money to be used in crimes? Not. The same is with coins, we should find the way to make the law stronger and make the people to live a good life but not find a "mistakes" in ways of payments cash/ coins.
Money can be used for anything so bitcoin also can be used for anything as well so there is no exception for the criminals.THey can use the bitcoin even worse but the thing is that they can't lot of bitcoin in anonymous way ,they need to use banks at that time they can be caught.But if you ask me the governments needs to stop the crimes it is unfair that people blame bitcoin for crimes.

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July 31, 2018, 10:23:50 PM
 #59

I really don't understand this fetish people have about implementing regulations everywhere... You ask how Bitcoin is supposed to be and then start talking regulations are a must otherwise governments will ban it and the price will fall. I believe Bitcoin is supposed to have nothing to do with regulations. You have Blockchain system and it's already public and transparent for all, so what regulation do you need?
The thing comes to their mind on where if regulation would be add up it can increase bitcoins price but it is not really necessary at all yet bitcoin can stand on its own even government would decide to ban it.
When we do tend to read up WP of Bitcoin then even just reading up the first 2 paragraph then we would really know the true usage of bitcoin but people do push further into things
which totally contrary on btc main purpose.

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August 01, 2018, 01:02:04 AM
 #60

Bitcoin isn't the only currency that's being used by the criminals. However, the government is keep on pushing that title just to have a reason to stop its adoption.

Money can be used for anything so bitcoin also can be used for anything as well so there is no exception for the criminals.THey can use the bitcoin even worse but the thing is that they can't lot of bitcoin in anonymous way ,they need to use banks at that time they can be caught.But if you ask me the governments needs to stop the crimes it is unfair that people blame bitcoin for crimes.
It is now a taboo to some countries but let them be while the countries that understand what bitcoin really is are adopting it.

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