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marcbitcoins
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August 01, 2018, 04:31:08 AM |
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I think the most likely answer is KYC for the investors in which it is proven effective until today as the government can easily track the Bitcoin holders and investors background. Then for ICOs they should required KYC and SEC regulations to ensure that the facilitators are legit persons with real projects. |
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No Gods or Kings. Only Bitcoin
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Saveplus
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August 01, 2018, 02:02:10 PM |
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Just like in the bank to avoid criminal activities ,bitcoin need to know more about his investors if he or she can afford to invest those large amount of money or what is the capabilities of every bitcoiners who joined in cryptocurrency.Bitcoin is like money that can used in any criminal activities just like what they said KYC "know your client"rule is a proven test for avoiding those people who used bitcoin in their bad habit.
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Yurkov
Sr. Member
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Activity: 1463
Merit: 265
Pepemo.vip
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August 10, 2018, 02:44:39 PM |
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There is no regulation that will stop criminals from using it in the wrong way.
It is just the same like with normal money, it will be always use in good and bad ways, crypto is just the same and we cannot do anything with that kind of situation. |
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YinShuiSiYuan
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August 10, 2018, 02:56:53 PM |
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Im starting to think that bitcoin was made for crimes, maintained by great minds. This statement is very harmful for the crypto environment. Each currency can be used for criminal activities. Fiat money has been used for all types of fraud for years. It is simply necessary to take measures to limit this type of activity. |
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hulla
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August 10, 2018, 07:09:34 PM |
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There is no regulation that will stop criminals from using it in the wrong way.
You're definitely right with what you said and i dont believe either that the KYC can stop illegal transaction and criminal using crypto currency because people can create fake passport and documents which they will used for their KYC registration. Therefore, I believe the government are trying to use it to control crypto currency cause the government can still use the process used by the FBI to nab illegal transaction. |
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Irvinn
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August 11, 2018, 06:45:31 AM |
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According to studies, bitcoin for illegal purposes is used from one to ten percent of cases. This is a very small percentage. All advanced technologies, and even just sharp objects are used by criminals. Maybe we will not allow people to have kitchen knives, they are very often used by criminals for murders? This problem with the use of bitcoin for criminal purposes is absolutely conceived. It is very beneficial for states and banks to further use this topic and restrict it in circulation, or even ban the decentralized crypto currency and, above all, bitcoin. |
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Danilotot
Jr. Member
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Activity: 378
Merit: 1
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August 11, 2018, 08:49:02 AM |
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sorry but i do not get what you want to say? bitcoin is a kind of coins that are inside the crypto, it is the first to enter the currency first. bitcoin is worth a lot, can I imitate what you want to say?
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belimblink
Newbie
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Activity: 29
Merit: 0
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August 11, 2018, 08:58:58 AM |
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I think we don't need to worry about that, because, today more and more records are in the bitcoin industry, and it's becoming increasingly clear and can be said that the use of bitcoin for illegal activities will be increasingly traceable.
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Ridwan Fauzi
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August 12, 2018, 05:18:05 AM |
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sorry but i do not get what you want to say? bitcoin is a kind of coins that are inside the crypto, it is the first to enter the currency first. bitcoin is worth a lot, can I imitate what you want to say?
Do you read this question before? Have you understood? I will provide conclusions intended by OP, many people used bitcoin as an illegal transaction so as it will make the government worried to adopt bitcoin as a payment system. This case is often discussed in this forum, the government wants a secure payment system. There is no negative element to the payment system, while bitcoin which has a decentralized system and every bitcoin user is free to falsify their identity to create a wallet, so the government will find it difficult to track down users who are using illegal transactions using bitcoin, even though this case would be the same if someone did illegal transactions using money fiat, but at least this case will be used by the government as an excuse to not adopting bitcoin in their country. |
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Gadhoh
Newbie
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Activity: 154
Merit: 0
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August 12, 2018, 05:09:23 PM |
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You have to know first what you want to know about Bitcoin or Cryptocurrency, read and know more is your capital to start, some exchanges are very important for you to choose because that will be your determinant in the deep time. |
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cryptocity90
Newbie
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Activity: 126
Merit: 0
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August 15, 2018, 07:20:24 AM |
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bitcoin is a kind of coins that are inside the crypto, it is the first to enter the currency first. I think we don't need to worry about that, because, today more and more records are in the bitcoin industry, and it's becoming increasingly clear and can be said that the use of bitcoin for illegal activities will be increasingly traceable.
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chickenado
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September 20, 2018, 10:24:22 PM |
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I also ask what rules should be in place, because bitcoin is in my opinion a system that anyone can access
Yes I agree with you. Bitcoin is accessible by anyone that's I think bitcoins should have rules and regulations to maintain the bitcoin orderly. The should also think that the rules and regulations is not to control but it is fot improvement. Good thing to know that bitcoin has a bigger opportunity for improvement, because it is cryptocurrency currency and driven computer network, you can put some security features to enhance security level of the technology. |
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Cupomi
Newbie
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Activity: 81
Merit: 0
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September 21, 2018, 02:35:00 AM |
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I think the existing rules in bitcoin are very good like making KYC, using ID and using ETH address and many more, just have to run and refine the requirements that have been specified....
very good because with bitcoin we are no longer dealing with banks, because we store bitcoin in our wallets, and wallets are banks for bitcoin, for each transaction is recorded on a blockchain recording machine, blockchain is a tool to record all transactions in bitcoin, and banks -Banks in bitcoin do not serve loans or credit, so in the future bank functions will be replaced by bitcoin. Such things are very supportive in the world of commerce. |
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Tigorss
Member
Offline
Activity: 308
Merit: 10
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September 23, 2018, 03:06:18 PM |
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Obviously if it is not a rule or there is no body that protects, the consequence is that there are many people who do not want to join, even if they have joined, maybe the others will come out. |
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tanoe
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September 26, 2018, 04:32:32 AM |
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Well, if criminals are using Bitcoin then they were using fiat currency before 2009, right? So if governments are banning Bitcoin, for this reason, the same logic should be there for fiat currencies. However, coming to the fact, governments can not ban crypto to crypto transactions and they should not blame Bitcoin for the criminal activities. Everyone would use what is convenient for him and it doesn't make any sense to destroy the whole system just because the tiny group of people are using it for illegal activities.
That's the great opinion. But if they didn't make a regulation for this crypto, that crime transaction will be easier by using this crypto. And the worst thing, maybe a lot of corruptor using it for money laundy. yaa, I thought regulation is the top priority now. because after all, something that has no regulation, will be very vulnerable to crime. although maybe the fact is that bitcoin is not the main cause, but the anticipation step to prevent that is by banning the use of bitcoin globally. |
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Dudeperfect
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September 26, 2018, 04:48:35 AM |
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Well, if criminals are using Bitcoin then they were using fiat currency before 2009, right? So if governments are banning Bitcoin, for this reason, the same logic should be there for fiat currencies. However, coming to the fact, governments can not ban crypto to crypto transactions and they should not blame Bitcoin for the criminal activities. Everyone would use what is convenient for him and it doesn't make any sense to destroy the whole system just because the tiny group of people are using it for illegal activities.
That's the great opinion. But if they didn't make a regulation for this crypto, that crime transaction will be easier by using this crypto. And the worst thing, maybe a lot of corruptor using it for money laundy. yaa, I thought regulation is the top priority now. because after all, something that has no regulation, will be very vulnerable to crime. although maybe the fact is that bitcoin is not the main cause, but the anticipation step to prevent that is by banning the use of bitcoin globally. Bitcoin is based on the blockchain technology which relies on the principle of decentralization and regulation is not possible without centralisation so regulating crypto industry is killing the core fundamental values of it. There are many other ways to organise the industry without attempting the regulations as it is not possible in case of blockchain based products. |
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bajigur894784
Member
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Activity: 350
Merit: 10
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October 03, 2018, 04:41:54 PM |
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I think it is difficult to find the right rules, where payment for crime is something that is difficult to avoid by a currency including Bitcoin because what determines is the behavior of the holders. Maybe many think that Bitcoin is a currency that is very suitable for crime and illegal activities because that is anonymous, Of course, its wrong. Bitcoin has the right technology to combat that thing. Blockchain allows that because it is open source. Sometimes I doubt the reason for rejecting and blocking the bitcoin payment system by the government is because of the anonymity possessed by bitcoin which is often made into an illegal activity payment instrument. Because... isn't KYC and AML more than enough!? |
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KrishaBitcoin
Member
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Activity: 350
Merit: 11
W12 – Blockchain protocol
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October 23, 2018, 05:14:45 AM |
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Requiring Crypto users of their complete details thru Know your Costumers documents are enough to ensure Bitcoin will be use only in legal activities.Most of the contries that regulated Bitcoin thru KYC requirements did not encounter any trouble and difficulties from the crypto users so i believed that this KYC is enough to protect Bitcoin from illegal people. |
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rushel22
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October 23, 2018, 04:25:26 PM |
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I also ask what rules should be in place, because bitcoin is in my opinion a system that anyone can access
Yes I agree with you. Bitcoin is accessible by anyone that's I think bitcoins should have rules and regulations to maintain the bitcoin orderly. The should also think that the rules and regulations is not to control but it is fot improvement. |
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Tapyaks72
Member
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Activity: 490
Merit: 28
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October 24, 2018, 12:05:36 PM |
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I also ask what rules should be in place, because bitcoin is in my opinion a system that anyone can access
Yes I agree with you. Bitcoin is accessible by anyone that's I think bitcoins should have rules and regulations to maintain the bitcoin orderly. The should also think that the rules and regulations is not to control but it is fot improvement. Yeah absolutely of we will think in advance for improvement there's a possibility that bitcoin will be used for some criminal activities like hacking and money laundering. But because it is a crypto currency and digital in nature there's always chance for improvement. |
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