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Author Topic: What will bitcoin will look like once fully regulated?  (Read 47 times)
NOVL2
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July 02, 2018, 04:26:03 PM
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Will it be then better, than any other existing currencies?
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July 02, 2018, 04:52:13 PM
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Will it be then better, than any other existing currencies?

it can be "fully regulated", only exchanges can be regulated.

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July 02, 2018, 05:59:35 PM
 #3

Decentralization is the whole meaning of bitcoin so it doesn't need to be regulated like banks do to the currencies. But still as vladimirhf said. Exchanges can be regulated.
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July 02, 2018, 06:20:50 PM
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We won't have a definite answer to that question as regulation varies from country to country. What I mean is although they have similarities in the legal framework their policies and certain rules will be different from each country. But one thing is for sure what we can expect if Bitcoin is now fully regulated is that BTC will not be an anonymous cryptocurrency anymore since our wallet addresses will be linked to us and will now be monitored by the government regularly.

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July 02, 2018, 07:55:06 PM
 #5

Depends on the country, but existing law sometimes is enough to use it also in these new cases
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July 02, 2018, 09:32:13 PM
 #6

Yes it will, BTC is a game changer in society, I do believe other blockchains will handle most of the everyday need for blockchain as they are much better at scaling and tailored towards business use, however, I feel BTC will remain the gold standard in the space and will be the underlying currency for most projects for years to come.

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July 02, 2018, 10:47:00 PM
 #7

once bitcoin is fully regulated, rest assured that it won't be called bitcoin anymore
even if there are many users using it, they are probably new users who don't know what bitcoin stands for
older users most likey will leave bitcoin as it losses pseudonymous and its p2p core ideas

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July 02, 2018, 10:57:18 PM
 #8

If bitcoin will be regulated in the future well expect for a huge price drop because there are many people here they don't want their money to be regulated by a government and monitor all of your expenses. 
That is why they made bitcoin decentralized because all bitcoin users they always wanted a freedom using their money and how they invest it.

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July 03, 2018, 12:33:42 AM
 #9

Will it be then better, than any other existing currencies?

I think this defies the definition of blockchain.  If bitcoin becomes centralized, then it is not a blockchain anymore but more like a bank.

I think you need to read more about how blockchain works.  The information below might be helpful to you:


What is Blockchain?

  • It is like a database duplicated thousand of times across a network of computers, in which the network of computers have access to the database at the same time to regularly update the said database;
  • Information are shared (and continually reconciled) throughout the whole network; and
  • Data are accessible to anyone - no centralized version exists for hacker to target to corrupt.

How Blockchain Works?

I think it is wonderfully shown on the picture below:


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tnguye01
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July 03, 2018, 01:42:56 AM
 #10


Very nice graphical representation!

quote author=nngella link=topic=4586040.msg41391984#msg41391984 date=1530578022]
Will it be then better, than any other existing currencies?

I think this defies the definition of blockchain.  If bitcoin becomes centralized, then it is not a blockchain anymore but more like a bank.

I think you need to read more about how blockchain works.  The information below might be helpful to you:


What is Blockchain?

  • It is like a database duplicated thousand of times across a network of computers, in which the network of computers have access to the database at the same time to regularly update the said database;
  • Information are shared (and continually reconciled) throughout the whole network; and
  • Data are accessible to anyone - no centralized version exists for hacker to target to corrupt.

How Blockchain Works?

I think it is wonderfully shown on the picture below:

https://i.imgur.com/WzhT2Bk.png
Source
[/quote]
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