Bitcoin must be regulated!

[tokatuku]

They are trying, but the only thing they can do is adjust the way you receive Bitcoin. We have seen this through KYC and various exchanges tie this down when users. But sorry, Bitcoin really can not be adjusted. But I think someday Bitcoin will do this so that it can be accepted by the government, so that it can be widely used.

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[anitalxy]

Before you send this post, it is recommended to first understand what Bitcoin is.
Of course, if there are some measures to stop these frauds, it is best.

[Garrixx]

regulate bitcoin, this means abandoning the original idea, spit in the face of its creator

[VeronicaStephens89]

What rules will Bitcoin follow? Who will rule out the law of Bitcoin or cryptocurrency? There is speculation that the government will create a regulation on Bitcoin, what do you think?

[Perkovic]

I understand what you're talking about, but why should it be regulated? I believe that the whole charm of bitcoin is precisely in its decentralization

[nina_duschenko]

If bicoin could be controlled I should be destroyed. We have regulation and the government gets it's cut. But that's done and over. There will be no identity tied to bitcoin or any declaring of bitcoin.
We are not asking the government for permission, we are telling them that this is how it is.

Here is a briefly story which I have found on medium (https://medium.com/swlh/should-bitcoin-be-regulated-9e1155c1d56e) First created in 2009 by a person with the alias Satoshi Nakamoto, Bitcoin became the pioneer of cryptocurrency and Blockchain technology. Bitcoin is a digital currency in which encryption and cryptography are used to control the value and verify the transactions. While traditional currency goes to central payment processors, such as Visa and MasterCard, Bitcoin transactions are processed by computers running special software. Every time a transaction occurs, the network records both the sender’s and the receiver’s Bitcoin addresses, and the amount of money into the end of a “Ledger” or a record called Blockchain. After nearly a decade since its invention, Blockchain has not yet reached to its full potential. Billions of dollars of investments are made every day, but none of the great potentials come to reality, despite only serving Bitcoin for its payment system and allows illegal payments to occur in the Dark Web. The government has started to underestimate the value of Bitcoin and thinks that regulation is the best way to solve its issue. 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. Many tech investors view the Blockchain in the future as a host for applications, such as crowdfunding and online voting. Although cryptocurrencies have several downsides, strict regulations from the government are not the right solution as they would decrease the market value and prevent the Blockchain from reaching its full potential, such as managing personal identity and improving representative democracy.

The core technology in Bitcoin which is called Blockchain is what makes Bitcoin special as many tech experts claim it to be hacker proof. Back when Bitcoin and computers have were not yet invented, the most popular way for people to keep their secret documents is by keeping them in a vault and making a lot of copies. Thus, when someone else stole the person’s document without breaking into the vault, the victim would still have other copies in different locations. Similar to Blockchain, files or any pieces of information are encrypted so that only a specific person could read or write the file, which are stored in thousands of computers but still linked together with the internet. The computers combine which store all the files are called node-blocks and the network connecting all the files are called chain. The encrypted code will get updated every several hours which makes the entire system almost impossible for a hacker to break in.

[cryptocurrencyguru]

Bitcoin cant be regulated the main reason is it is decentralized and cant be controlled by any governments officials so regulating wont happen in any time future

[Emanammy]

Bitcoin and other cryptocurrencies must be regulated before they become large enough to disrupt the global economy.

[btc78]

every single sentence here proves that you do not know what bitcoin is. you are just too caught up in the price and have been excited about it that you forgot to check out what is this thing called "bitcoin" that you got involved in!

i suggest that you start by educating yourself a little more. read the bitcoin paper. start watching some of the Andreas Antonopoulos' videos , you can read his book mastering bitcoin. and you will no longer think this way. here is a link: https://antonopoulos.com/

The problem mate if op really know how to understand if ever he would read tha books of andreas lol 😂

This is the problem about those people who entered in cryptocurrency that has no knowledge instead focusing about the price but don't have time to research about the crypto coins specially blockchain and bitcoin.

[Kertmu]

The less confidence is in Bitcoin, the more difficult it will be to raise its cost even to 10K, not to mention the forecasts of some experts $ 60K in July 2019, even with Bitcoin ETF.

[osmo]

I think there are many people who know that there is nothing that can regulate bitcoin, now that some countries can only regulate who can buy and sell bitcoin with KYC. I am not concerned about the price of bitcoin which is going down, because it is normal for me to hunt, bitcoin will definitely return

[Atherus]

When you want bitcoin to be regulated you haven't understood the actual idea of decentralization. Regulation will lose faith in the cryptocurrency idea.

[Saveplus]

If bitcoin was regulated it was not decentralized.Nobody can regulated gave a law by it.Government may imposed regulations and policies that we dont want to happen.

[hachiman13]

Bitcoin cannot be regulated; it is decentralized so no central figure to exercise regulation. However, IMO, centralized exchange must be regulated since they are literally going overboard. Some of the large exchanges charges ridiculous fees for listing a  token. It can also be a tool used in money laundering.

[TheClownSong]

When you want bitcoin to be regulated you haven't understood the actual idea of decentralization. Regulation will lose faith in the cryptocurrency idea.

Regulation does not effect on decentralized system. Regulation from government just for transaction in country because we still can transaction using bitcoin across the world. Regulation needed for government because government want to collect taxes

[CordandAN]

When you want bitcoin to be regulated you haven't understood the actual idea of decentralization. Regulation will lose faith in the cryptocurrency idea.

Regulation does not effect on decentralized system. Regulation from government just for transaction in country because we still can transaction using bitcoin across the world. Regulation needed for government because government want to collect taxes

Right. They cannot control or rule it because of decentralization, but they can control our operations outside the system, like buying fiat, etc. just to make us pay taxes.

[Leadership58]

If bit coin regulated it will be destroyed surely. Bitcoin develop such a way that no regulation is needed to play this coin. I believe this platform is alone strong. So it’s not be regulated.

[Phlaser]

How can a decentralized digital currency like Bitcoin br regikated when it is not own by just one body or entity but the global world? Regulating Bitcoin means it will be subjected to the dictatorship of the rulers like our fiat. Bitcoin is superb and one of the best things that has happened to the human race.

[nagasaking]

every single sentence here proves that you do not know what bitcoin is. you are just too caught up in the price and have been excited about it that you forgot to check out what is this thing called "bitcoin" that you got involved in!

[Nanacoin]

I get your explanations right but it looks practically impossible to regulate bitcoins. Bitcoins is decentralized and hence cannot be controlled  by an government or head of state.