Bitcoin must be regulated!

[jacksonhen]

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.

It’s also difficult to regulate Bitcoin when, in actual fact, regulations vary from country to country. The only similarity may very well be those countries where cryptocurrency is banned or restricted. The issue of how it is classified also comes up again when looking at a global view of Bitcoin.

In an Investopedia article, a roundup of countries illustrates some of the varied regulations related to cryptocurrency. Here are some examples of the different regulations:

- Australia wants to tax cryptocurrency like other commercial transactions but is also cautious after security concerns from losses in 2013.
- Brazil has enacted a law about electronic currencies and payment systems, leading the way in evolving its regulations.
- Canada would like to tax Bitcoin but it is currently not recognized as legal tender so as no legal recognition.
- China restricts its use and does allow financial institutions to conduct any transactions using Bitcoin.
- The European Union has spent time debating the issue and has found some ways to tie a legal basis for Bitcoin to its existing laws, but the European Banking Authority is still against it until it becomes regulated.
- Finland has created specific instructions on how it can be used. It also has made any gains from these transactions subject to capital gains tax.
- India has shut down the country’s largest Bitcoin trading platform and currently has no regulatory framework for cryptocurrency.
- Russia restricts the use of Bitcoin and is concerned over its potential for use in money laundering or terrorist activities.
- The UK does not currently regulate cryptocurrency but does subject profits or losses on Bitcoin trading to capital gains tax while VAT is applied to any goods that are sold in exchange for this digital currency.

Many more countries are in similar places to these listed here, but these examples illustrate just how far apart the world is on reaching some type of agreement on regulations of Bitcoin.

Read More : https://www.huffingtonpost.com/john-rampton/why-bitcoin-is-not-regula_b_9458864.html

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[BitcoinPanther]

My apologies, but it feels you are relying on speculations that thrives among antagonist of bitcoin. The price manipulation you mentioned has no solid proof and remains a speculation til date. There might be strong indicators of such activities but none has been proven so far.  And i think with the current progress of bitcoin, the market will prove to show very soon that consumers does control the market.

But should bitcoin be regulated? I'd say why not. If that is the next best course of action to take place then i have nothing against it. You see, it is the system of transaction that bitcoin intended to decentralized and not authority itself. If regulation will add safety and security then we are all in for a better future of cryptocurrency.

[Soots]

I agree with you, there must be an improvement from the Bitcoin development team so that new investors enter Bitcoin and stabilize the market, but to regulate Bitcoin I find it difficult because Bitcoin is decentralized, and its anonymity is an advantage that Bitcoin has.

For now if this is regulated it would be hard for those traders who earned lesser profit. While the value of bitcoin wasn't gaining yet it's not good to regulate due to small capabilities of earning better income. If Government will dominate the system, I don't think it will be fair for long time users of bitcoin. This must be reviewed so welk before implementing such regulations if it will provide better results or not.

[signup01]

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.

investors need to have confidence and patience so that it can make bitcoin continue to grow and become better than before if it disappears I don't think it will happen

[reisuke24]

government will make regulation about bitcoin, but just outside. and they must secure about people that join in bitcoin, because it is the features of bitcoin

[mornabo]

I know presently, many countries especially USA, trying all their possible best to regulation cryptocurency generally and not only bitcoin, which is very good to me base on some of the bad egg that are trying everyday to reap from where they didnt sow. But i think bitcoin doesn't need regulation in the first place because of the word crypto but for it's betterment and to make people believe in it, after crypto has been used to scammed people. So, it should be regilated.

First regulation is not an obligation that must exist for bitcoin, the development of bitcoin and crypto will still run even without regulation.
I think regulation will only make bitcoin a centralization because they will certainly ask for the conditions for the legalization

[Alamin9884]

Bitcoin is decentralise & hence can't be control by an government or head of polity.
But i also want government not to embargo bitcoins special features.

[FreddieBennett213]

Bitcoin should be managed more strictly. There are many bad actions such as arms race, money laundering, terrorism when taking advantage of Bitcoin in such illegal activities. I think we need a law or regulation to control the cryptocurrency market.

[RBEP-RBC]

Bitcoin should be managed more strictly. There are many bad actions such as arms race, money laundering, terrorism when taking advantage of Bitcoin in such illegal activities. I think we need a law or regulation to control the cryptocurrency market.

And so does the US Dollar, EUR, Yen, CNY, etc. Why aren't they managed more strictly?

Bitcoin was built to NOT be regulated. If you want more regulation in your financial life just own fiat.

[ricatop]

if you adjust bitcoin, this means spitting in the face of its developer and the creator because it completely contradicts the idea of the creator

[Nanagyasi]

I think in one way or the other we are stucked on between these two sides; whether or not some level of regulation will be good for crypto. Looking at the current trend of the market and for the fact that people believe the market is manipulated by some whales, then some level of regulation will be good for the market.

[TRUSTIES]

Bitcoin can be contributed however can't be managed because of the way that it has its own particular rules.Many individuals have not found bitcoin yet and on the off chance that you control utilizing bitcoin,they will be unable to contribute moreover.

[moschinot]

Only time will tell how long all this will last and for now all this is just guesses

[mr.nby]

Bitcoin should be managed more strictly. There are many bad actions such as arms race, money laundering, terrorism when taking advantage of Bitcoin in such illegal activities. I think we need a law or regulation to control the cryptocurrency market.

Bitcoin does not need any regulation. This is why it was created for people to become independent of centralized financial forms imposed by banks and state institutions.

[Goodwin54]

Yes, I also think so, because if it go under regulation then the miss use of bitcoin and also the criminal activities related to bitcoin will going to end.

[FreddieBennett213]

Legally binding, Bitcoin has a place in the cryptocurrency market and investors. If set, it will resonate in the financial world.

[bitcoindusts]

I don't see anything wrong with that should bitcoin be regulated. It's not really a threat per se.

Though it does feel that it somehow violates the primal design of bitcoin, i do believe that perhaps regulation will do good. With so much scam and negative feedbacks circulating around,  a regulation might help promote trust and confidence among investors.

Perhaps that is why there's a push for bitcoin etf. Perhaps being regulated by a governing authority in the financial industry will give it a much needed boost for stability.

[Am12345]

Sounds like the price drop has you scared a bit! No country/governmental entity could regulate Bitcoin itself. They are trying to, but the only thing they can do is regulate how you get Bitcoin. We've seen this already through KYC and various exchanges forcing this upon the users. But sorry, Bitcoin truly could not be regulated. There is no way for an entity to "turn off" Bitcoin like they do for the stock market when the price is collapsing. Don't even worry about the price, just hodl on. We will go lower in the short-term, but long-term is still very bullish.

[maichimoto]

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.

Crypto doesn't have to be regulated. It can be regulated, but there is no vital need for that. The more people will be becoming fed up with centralized system, more they will incline towards using the p2p currencies.

[gwaposakon]

if it will be regulated then it defeats the purpose why bitcoin was created in the first place. that is no regulation and decentralized. i don't how this would coincide with the idea of crypto but somehow their should be a way to counter scam in crypto.