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Author Topic: Bitcoin must be regulated!  (Read 2070 times)
Renampun
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September 12, 2018, 04:44:17 PM
 #341

Bitcoin can't be regulated. Period.
It's very simple.
Nobody own bitcoin or stand behind bitcoin.
There is no bank or any government behind bitcoin.
In fact, nobody control bitcoin.



I hate the fact, but the fact can't be deceived. Bitcoin can never be regulated because it is very different from the currency issued by a country, Bitcoin will forever continue to be a decentralized cryptocurrency.

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Roboabhishek
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September 12, 2018, 05:25:29 PM
 #342

This is necesarry now because bitcoin involve huge money and the possibilities is that the bitcoin that we may hold may not have any value any more for its equivalency to fiat money are already secured in the owners system pocket. Our trust is slowly degrading for what we had on the current market even the huge investors are already withdrawing their money on bitcoin. And it does not help with small scale investors so there should be a preventive measure to be undertaken but hey where are the team? Common people like me does not even know who owns bitcoin and who are the team composing of bitcoin. If the system needs advancement they should create a remedial for the current market like having another promotion to get more investors. With the attitude of the market price manipulator right now there is no guarantee that bitcoin market price could recover. There is no action being taken and i do not if the team are so selfish with their business on this system they created. Are they only milking the investors? Obviously if this is their ideals then i will not expect bitcoin will last long.

Yes it's very necessary to regulate bitcoin to control and stop it's dangerous use in many sense's. Also we have seen the regulations which Chinese government has implemented on bitcoins trade and transaction to control it's use and to make it a safer banking way . Maybe this step can help bitcoin to be more safer to use for user friendly experience of its holders .
vnck25
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September 12, 2018, 05:26:37 PM
 #343

I don't think Bitcoins and other crypocurrencies can be regulated by any government in the World. However, governments, international organizations can regulate Initial Coin Offerings (ICOs) as well as when people try to exchange their cryptos to fiat or fiat to cryptos. There are regulations for ICOs as well as exchange of cryptos to fiat in terms of KYC, AML screenings, but I think  there are certain lapses in doing those, which must be solved as soon as possible. Again I am in the opinion that Bitcoins and other cryptos cannot be regulated directly.

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September 12, 2018, 05:33:33 PM
 #344

I totally support this and I think in order to control the scammers and hackers and also control the misuse of bitcoin there is no substitute of it.
F_Ivanov1993_
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September 12, 2018, 07:05:33 PM
 #345

Bitcoin needs to be regulated and it will be regulated, since this is about the economic relations of the country.
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September 12, 2018, 07:15:27 PM
 #346

don't think negatively about bitcoin lol ...! Mr. Satoshi makes bitcoin for digital money and not for investment, and I hope you understand what I think.





I think what can be done is to adjust many things in the economic system so that the law continues to apply, for example, tax payments cannot be influenced by cryptocurrency.
This is a rather complicated problem, because blockchain technology is based on freedom and control of people.
Jyominall
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September 12, 2018, 07:46:08 PM
 #347

Yeah, I agree with you. I hope, that regulation will help to overcome high volatility inherent to cryptocurrency and diminish market manipulations.
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September 12, 2018, 07:55:56 PM
 #348

Common people like me does not even know who owns bitcoin and who are the team composing of bitcoin.
Bitcoin is not owned by anybody.
Yes, there are so-called whales that hold a large amount of btc in their wallets, but these will cost nothing in case common people like you stop mining bitcoins.
So there is actually not a team, blockchain itself was created by a single person, and its purpose was far from constant price speculations we are currently witnessing.

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September 12, 2018, 08:38:01 PM
 #349

I'm supposed to trust these governments that irresponsibly mismanaged fiat currencies, why?  If you want regulation, stick to fiat fractional reserve banking.  It's "digital" as well and it has the main feature you want.  "Regulation".  IMHO, there's nothing "regulated" about what these governments have been doing with our money...

This is necesarry now because bitcoin involve huge money and the possibilities is that the bitcoin that we may hold may not have any value any more for its equivalency to fiat money are already secured in the owners system pocket. Our trust is slowly degrading for what we had on the current market even the huge investors are already withdrawing their money on bitcoin. And it does not help with small scale investors so there should be a preventive measure to be undertaken but hey where are the team? Common people like me does not even know who owns bitcoin and who are the team composing of bitcoin. If the system needs advancement they should create a remedial for the current market like having another promotion to get more investors. With the attitude of the market price manipulator right now there is no guarantee that bitcoin market price could recover. There is no action being taken and i do not if the team are so selfish with their business on this system they created. Are they only milking the investors? Obviously if this is their ideals then i will not expect bitcoin will last long.
RussCryptoBull
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September 12, 2018, 09:26:07 PM
 #350

I agree with you brother,  thought not just bitcoin,  the whole cryptocurrency should be regulated, because this is one of the reasons for the dip
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September 13, 2018, 01:01:15 AM
 #351

Although Bitcoin concept is all about decentralization and it may contradict the idea for it to be regulated, I guess somehow in the future some regulatory body will try to be implemented such as regulating new ICO projects and crypto trading. Crypto assets itself might hard to trace since it may have privacy and anonymity features. I guess regulation in some extent may be beneficial also such as to prevent scam ICOs to interfere the market eventhough its main disadvantage is to impose more fees and taxes.

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September 13, 2018, 01:16:43 AM
 #352

The central bank should conduct targeted supervision on bitcoin regulation in response to the problem of illegally transferring assets using Bitcoin and leveraging the trading of bitcoin. In particular, strengthen supervision in anti-money laundering, financing and financing, etc. The finalization of bitcoin regulation is "legalization"
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September 13, 2018, 01:19:33 AM
 #353

As Bitcoin is growing so fast, as you said that it needs to create regulation about bitcoin even though it seems contrary with the principle of Crypto currency. I say it because there a re a huge money here that also has high potential to be hacked or stolen. To anticipate and prevent it, it needs to build regulation that makes crypto and the user saver and secure.

How is about the other? I would to hear other voices about this topic.

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September 13, 2018, 01:25:18 AM
 #354

Bitcoin is already being regulated in numerous countries around the world.

Some capable governments already saw that same thing about the current value and future possibilities of Bitcoin like the U.S. between others. This is only the beginning of a series of measurements that need and will be taken worldwide to regulate it and of course countries can get taxes out of it.

The only ones that don't like it no matter how good it is doing are the authoritarian regimes due to the decentralized nature of the currency itself and the possibilities it gives. I truly hope Bitcoin is the future and dictators who starve their own people, the past.

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September 13, 2018, 08:16:28 AM
 #355


No. I do not accept it. Because if that's so, bitcoin will not exist. Then investors are not investing in bitcoin. First, anyone should have faith in the coin first to invest. Therefore, if people manage this, people will not invest here. I think countries that use bitcoin should grant bitcoin submission. Investors are investing heavily in bitcoin.
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September 13, 2018, 08:29:57 AM
 #356

Yes, I agree. with the existence of clear regulations about bitcoin, the users will be under clear rules and certainly will feel more secure and comfortable
Jack Ment
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September 13, 2018, 02:38:35 PM
 #357

As far as I know, Bitcoin can't be regulated because it was born decentralized and to lose the dependence of a method of payment on government. Even banks or governments can't control Bitcoin like fiat money. Spme countries had tried but they end up failing to effectively control Bitcoin, resulting in their semi-denial of Bitcoin.
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September 13, 2018, 02:38:51 PM
 #358

Many people, not just the wealthy, have gone to great lengths to ensure that governments have no control over Bitcoin. The only amount of Bitcoin that can be controlled is what is bough. I can't see any individual or organisation trying to buy up all the bitcoin there worldly.
Dennis Thompson
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September 13, 2018, 02:39:06 PM
 #359

Actually, if there is anyone that can control or manage Bitcoin, that's must be central banks or governments. But the problem is not any state banks or governments like Bitcoin and like it. They even see it as a threat to their financial system. When the banks feel the pressure from a decentralized system, that's when banks will use their influence and money to ban it. In the next coming years, you will see governments banning crypto in many part of the world. Governments always look after the banks.
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September 14, 2018, 09:58:34 AM
 #360

On the other side, the majority Blockchain developers do not approve the regulatory framework proposed by the government, as they think Blockchain will still reach to something significant in the long run.
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