Do you think GDPR will affect Bitcoin too?

[bitbunnny]

As we all know, at least those from Europe General Data Protection Regulation (GDPR) entered into force today.
It's the new European Union directive/law that protects personal data from excesive use, abuse and disclosure without justifed cause. It applies to all public and private institutions and companies that deal with personal data.
We all know that Bitcoin has lost a great deal of privacy and anonimity from the moment it first appeared due to different laws and regulations that affected exchanges and other services that deal with cryptocurrencies.
Do you think that GDPR will change something in favour of Bitcoin users.

[dumiya]

GDPR is incompatible with bitcoin blockchain as it is an open blockchain network. It is not possible to delete or modify previous data of a blockchain.

Available options are either EU has to change their GDPR rules and exempt blockchains including bitcoin from the new rules or blockchain developers have to develop blockchains which are compatible with GDPR.

I don't think bitcoin blockchain's technology will change to comply with GDPR.     EU has to exempt bitcoin from GDPR.

However, centralized cryptocurrency exchanges, merchants that accept bitcoin payments have to comply with GDPR when dealing with customers' personal data.

[RodeoX]

It can only be good. I think it's so good that I am considering moving to Europe. America is clearly a dying place that is being flushed down the toilet. I look to Europe for world leadership now.

[maichimoto]

As we all know, at least those from Europe General Data Protection Regulation (GDPR) entered into force today.
It's the new European Union directive/law that protects personal data from excesive use, abuse and disclosure without justifed cause. It applies to all public and private institutions and companies that deal with personal data.
We all know that Bitcoin has lost a great deal of privacy and anonimity from the moment it first appeared due to different laws and regulations that affected exchanges and other services that deal with cryptocurrencies.
Do you think that GDPR will change something in favour of Bitcoin users.

in terms of regulation, it surely will. I see the only option for cryptocurrencies to be fully regulated to have KYC implemented in their chain natively, so exactly the opposite of anonymous currencies.

[bitbunnny]

It can only be good. I think it's so good that I am considering moving to Europe. America is clearly a dying place that is being flushed down the toilet. I look to Europe for world leadership now.

Could be but America is still strong and very important factor when it comes to world scene and policy.
Still I know that America don't care much about the privacy and it has very different approach to that subject compared to Europe. But those companies who wants to keep doing business with Europe will have to adjust so this might lead to some changes in US too.
Anyway the time will tell what all this privacy changes will bring to cryptocurrencies.

[Enijesiku Sulaimom]

Definitely it will affect bitcoin positively, reason been that investor data will be safe and also scrutinize d users of bitcoin to real investors than scammer and phishers. In other words scammer's coin will reduce in circulation reason being that investor will not waste their time coins that do not request kyc.  My own view

[pooya87]

We all know that Bitcoin has lost a great deal of privacy and anonimity from the moment it first appeared due to different laws and regulations that affected exchanges and other services that deal with cryptocurrencies.

i wouldn't say "bitcoin has lost" anything. it is basically the same as ever. bitcoin is not anonymous no matter what the laws are.
as for how this will affect things i think this is a good thing. all these exchanges are taking our documentations in the name of AML/KYC and they are not exactly regulated nor are they that trustworthy. someone has to watch over them not to abuse their powers.

[iyemroker]

if news like this support then I make sure it will become News for Bitcoin, but the opposite if this news is not good, like not support with its existence Bitcoin then surely become FUD for UNI Europe and worldwide for Bitcoin usage.

but I hope this is good news for Bitcoin.