Can REGULATION Really Be Beneficial to Bitcoin?

[Distinctin]

Bitcoin itself cannot be regulated, but companies dealing in bitcoin can be - the latter will be critical for mass adoption. Regulation will bring necessary protections for consumers and investors.

Nice explanation, bitcoin is decentralized, it's just a currency having a value so we can determine how much we send or received.
The company that will be regulated are those who convert our bitcoin into fiat, as there could be a tax for that matter, depending on how the tax law in a certain countries. Regulation is not hard to understand, once the government decides to regulate crypto, they will send us guidelines to comply with.

[Yamifoud]

Bitcoin itself cannot be regulated, but companies dealing in bitcoin can be - the latter will be critical for mass adoption. Regulation will bring necessary protections for consumers and investors.

As in the above quote regulations will bring necessary support to the consumers and the investors. When regulated we can see more common people getting into the blockchain technology backed bitcoin usage. Same like this it has got flaws, when regulated it will begin to function as a centralized asset which will ruin its value and growth.

We've through this since last year but the process will take so long and until now still in pending. Perhaps, some of us will get worried also if it become regulated cause possible we have to pay taxes as mandated by the government at it could lessen our profits. But for me, it never give to me a big deal as long as we are secured and not being abuse by the authorities.

[coffeeastronaut]

There will be advantages and disadvantages of course. First hand, with regulations, danger of using bitcoin in the black market will be mitigated, danger of money laundering through the use of bitcoin will also be avoided, trust of people to the matter will be increased as will as security but for others, too much of these and that are very unlikable. It will be a hassle for them to abide by those regulations so those who don't want it will not go into it.

I dont think regulations really is a AML issue, I think it is more to control a new monetary market from a government perspective, which is understandable of course, no matter ones opinion

I agree, though money laundering might be one of the many reasons, but It wasnt the primary one.
Cryptocurrency like Bitcoin is a threat to the current banking system, and It is ironic to think that the banks has more laundered money than the whole cryptocurrency market cap.

I dont believe that banks has laundered a money . how come they can laundered if they are already regulated ? Cryptos are the ones that are prone to money laundering , that is why kyc is invented to protect us . bitcoin regulation really is beneficial to the user and to the owner of the exchange/wallet  . kyc or regulation also have other useful feature such as filtering the abusers  .

Banks not laundered money? What world do you live in? 

https://euobserver.com/justice/144524
https://euobserver.com/justice/143456

[Oasisman]

There will be advantages and disadvantages of course. First hand, with regulations, danger of using bitcoin in the black market will be mitigated, danger of money laundering through the use of bitcoin will also be avoided, trust of people to the matter will be increased as will as security but for others, too much of these and that are very unlikable. It will be a hassle for them to abide by those regulations so those who don't want it will not go into it.

I dont think regulations really is a AML issue, I think it is more to control a new monetary market from a government perspective, which is understandable of course, no matter ones opinion

I agree, though money laundering might be one of the many reasons, but It wasnt the primary one.
Cryptocurrency like Bitcoin is a threat to the current banking system, and It is ironic to think that the banks has more laundered money than the whole cryptocurrency market cap.

I dont believe that banks has laundered a money . how come they can laundered if they are already regulated ? Cryptos are the ones that are prone to money laundering , that is why kyc is invented to protect us . bitcoin regulation really is beneficial to the user and to the owner of the exchange/wallet  . kyc or regulation also have other useful feature such as filtering the abusers  .

Of course cryptocurrency is very prone to money laundering, I didnt mentioned it wasnt. Even the banks as you said were regulated, yet there are still undeclared transactions of large amount of money. You know why? Because criminals are making it look like its just a normal transactions without being detected.
I dont blame you if you dont believe in money laundering with the banks, because we all have our own opinion and views. And yes KYC verification is benificial to everyone in cryptospace, of course if you want to propose a regulation or law it would always be beneficial to everyone on the first look. What we want to point out here is the MAIN idea behind the purpose of regulating Bitcoin.

[coffeeastronaut]

There will be advantages and disadvantages of course. First hand, with regulations, danger of using bitcoin in the black market will be mitigated, danger of money laundering through the use of bitcoin will also be avoided, trust of people to the matter will be increased as will as security but for others, too much of these and that are very unlikable. It will be a hassle for them to abide by those regulations so those who don't want it will not go into it.

I dont think regulations really is a AML issue, I think it is more to control a new monetary market from a government perspective, which is understandable of course, no matter ones opinion

I agree, though money laundering might be one of the many reasons, but It wasnt the primary one.
Cryptocurrency like Bitcoin is a threat to the current banking system, and It is ironic to think that the banks has more laundered money than the whole cryptocurrency market cap.

I dont believe that banks has laundered a money . how come they can laundered if they are already regulated ? Cryptos are the ones that are prone to money laundering , that is why kyc is invented to protect us . bitcoin regulation really is beneficial to the user and to the owner of the exchange/wallet  . kyc or regulation also have other useful feature such as filtering the abusers  .

Of course cryptocurrency is very prone to money laundering, I didnt mentioned it wasnt. Even the banks as you said were regulated, yet there are still undeclared transactions of large amount of money. You know why? Because criminals are making it look like its just a normal transactions without being detected.
I dont blame you if you dont believe in money laundering with the banks, because we all have our own opinion and views. And yes KYC verification is benificial to everyone in cryptospace, of course if you want to propose a regulation or law it would always be beneficial to everyone on the first look. What we want to point out here is the MAIN idea behind the purpose of regulating Bitcoin.

tbh, I think that guy just made this post to gain activity and points for his BTCT account

You are right though, the MAIN idea behind the purpose of regulating Bitcoin is in my opinion; Only old system trying to control the market like they do with everything else. Ppl in crypto community who advocate regulations mostly wnats so because they think that this will increase price of Bitcoin, which is totally opposite of what Bitcoin was created for. Bitcoin was created as a P2P currency for the people and not for banks or authorities to regulate and control it

[Noa_Amable]

Regulation is a legal basis for determining how Bitcoin can be used. With the regulation, everything related to bitcoin will have a clear rule.
With things like this, investors can make decisions, when regulations support the development of Bitcoin, it will make investors more convinced to invest in Bitcoin.
For me regulation is an urgent matter, when everything has been regulated then everything will be much better.

absolutely!
government is not a threat.
it is the only way to adopt crypto and make it as popular as fiat.
if we still believe that governments are threats then we will not move from this point in crypto adoption

[sandra_x]

It sounds obvious to me that Joseph Stiglitz, Nouriel Roubini and Kenneth Rogoff seem to equate "regulations" to "restrictions" which may not be the case if things are done right. I am not a fan of regulations but I do believe some sort of government regulations especially as regard bitcoin being used as an investment vehicle (derivatives) could benefit bitcoin price and adoption. 

[Che454010]

Joseph Stiglitz, the Nobel Prize-winning former chief economist of the World Bank, Nouriel Roubini and Kenneth Rogoff were in unity in claiming that Bitcoin’s value could drop to just $100 after being "regulated into oblivion".
However experts from trading platform Blocktrade.com and LoyalCoin stressed that "REGULATION WILL NOT MAKE BITCOIN PLUMMET TO $100. It will not kill off cryptocurrency but will in fact be vital to crypto's growth. It will be essential to the adoption of cryptocurrency on a global scale. And will encourage more businesses to start taking the emerging technology seriously. The key issues affecting cryptocurrency, like security and volatility, can be rectified through regulation". [https://www.businesscloud.co.uk/news/regulation-will-not-make-bitcoin-plummet-to-100]
 
I've read this somewhere; The currencies that succeed, are not those that circumvent the state, but rather those that are legitimised by the state.
But it is a known fact that, Bitcoin is a decentralized digital currency. Free from government interference and manipulation.
Does this mean that Bitcoin, being the most popular and most sought after cryptocurrency, still cannot be considered a successful currency?
How can regulation help Bitcoin along with other cryptocurrencies? Will it benefit the investors as well?
Your thoughts guys...

As bitcoin is unregulated most governments and big financial institutions don't take it seriously and don't want to adopt it in their financial systems. If it is properly regulated then the governments all around the globe would be encouraged to adopt it in their financial systems and it would also help mass adoption of bitcoin all over the world.

[rodel caling]

how we get benefits if bitcoin become regulated? I think of it is only a favor for the government bitcoin become regulated to get taxes and control like fiat money.
Bitcoin in my own view can growth without government regulation all we had to do is support bitcoin to introduce to the government how people in every community can give help to get decent profits to become legalized bitcoin in every country.

[MFahad]

how we get benefits if bitcoin become regulated? I think of it is only a favor for the government bitcoin become regulated to get taxes and control like fiat money.
Bitcoin in my own view can growth without government regulation all we had to do is support bitcoin to introduce to the government how people in every community can give help to get decent profits to become legalized bitcoin in every country.

I also think like you, if bitcoin will be regulate then it is government currency and government will control it, now bitcoin is its own crypto currency then we have a chance to make money from it, it is our benefit, and when government will involve in it,
then how could we get benefit from it?
Mostly people think that if government regulate it then bitcoin will be secure, So its meant now bitcoin is not secure?

[Oasisman]

I agree, though money laundering might be one of the many reasons, but It wasnt the primary one.
Cryptocurrency like Bitcoin is a threat to the current banking system, and It is ironic to think that the banks has more laundered money than the whole cryptocurrency market cap.

I dont believe that banks has laundered a money . how come they can laundered if they are already regulated ? Cryptos are the ones that are prone to money laundering , that is why kyc is invented to protect us . bitcoin regulation really is beneficial to the user and to the owner of the exchange/wallet  . kyc or regulation also have other useful feature such as filtering the abusers  .

Of course cryptocurrency is very prone to money laundering, I didnt mentioned it wasnt. Even the banks as you said were regulated, yet there are still undeclared transactions of large amount of money. You know why? Because criminals are making it look like its just a normal transactions without being detected.
I dont blame you if you dont believe in money laundering with the banks, because we all have our own opinion and views. And yes KYC verification is benificial to everyone in cryptospace, of course if you want to propose a regulation or law it would always be beneficial to everyone on the first look. What we want to point out here is the MAIN idea behind the purpose of regulating Bitcoin.

tbh, I think that guy just made this post to gain activity and points for his BTCT account

You are right though, the MAIN idea behind the purpose of regulating Bitcoin is in my opinion; Only old system trying to control the market like they do with everything else. Ppl in crypto community who advocate regulations mostly wnats so because they think that this will increase price of Bitcoin, which is totally opposite of what Bitcoin was created for. Bitcoin was created as a P2P currency for the people and not for banks or authorities to regulate and control it

Very good point! Thats mostly what people failed to realize that the idea of regulating Bitcoin completely contradicts the idea of how Bitcoin was created. There must be no central authority to control Bitcoin, it must be decentralized. But, the government had pointed out a solid ground to put a regulation in Bitcoin, and thats something we couldnt do anything about lol. Neverthless, youre absolutely correct with your thoughts regarding this issue.

[denzkilim]

Bitcoin itself cannot be regulated, but companies dealing in bitcoin can be - the latter will be critical for mass adoption. Regulation will bring necessary protections for consumers and investors.

As in the above quote regulations will bring necessary support to the consumers and the investors. When regulated we can see more common people getting into the blockchain technology backed bitcoin usage. Same like this it has got flaws, when regulated it will begin to function as a centralized asset which will ruin its value and growth.

That's correct, regulations are often misunderstood and most of the people think that regulation does not bring goodness to the crypto industry. Imagine a world without any kind of regulation and everything is unregulated it will bring huge chaos in the society. In my personal opinion, we need some kind of regulation in the crypto industry to prevent frauds and scammers to spread all over, a regulation that will regulate those people that plans to start any fundraising whether it is an ICO, IEO, or STO.

[sulis sudibyo]

Regulation is a legal basis for determining how Bitcoin can be used. With the regulation, everything related to bitcoin will have a clear rule.
With things like this, investors can make decisions, when regulations support the development of Bitcoin, it will make investors more convinced to invest in Bitcoin.
For me regulation is an urgent matter, when everything has been regulated then everything will be much better.

yes you are right, the existence of regulations will encourage mass adoption. but unfortunately the government is still considering it. they are too afraid to make regulations because they fear bitcoin threatens state finances.

[PlusOne88]

If bitcoin will be put to regulation, it will somehow become stable in its value. Chances are if bitcoin is stable, it could be used as a currency and thus can be used to store your money similar to a bank. The possibility of bitcoin increasing in value is big as time goes by. But it is also true that bitcoin value could go down for sometime because those investors who waits for the rise and fall of the coin could be limited in numbers due to less returns as bitcoin values will become stable.  But as many people would be using it, it will again go up slowly and continuously until maybe for the next all time high.

[Noa_Amable]

Regulation is a legal basis for determining how Bitcoin can be used. With the regulation, everything related to bitcoin will have a clear rule.
With things like this, investors can make decisions, when regulations support the development of Bitcoin, it will make investors more convinced to invest in Bitcoin.
For me regulation is an urgent matter, when everything has been regulated then everything will be much better.

absolutely, regulation is the only way to adopt btc and crypto in general.
regulation means more confidence of ordinary people in anything.

[koroke]

Regulation is a legal basis for determining how Bitcoin can be used. With the regulation, everything related to bitcoin will have a clear rule.
With things like this, investors can make decisions, when regulations support the development of Bitcoin, it will make investors more convinced to invest in Bitcoin.
For me regulation is an urgent matter, when everything has been regulated then everything will be much better.

That's true, regulation from exterior and interior factors are beneficial not only for the flow of Bitcoins but also to maintain the wellness and equilibrium of rights in this community, with regulations we can expect systematic flow of trades and transactions, without regulation people will tend to over power their freedom here in crypto world, like what happened last 2017, there is no strict regulations yet when fake bounty campaigns are pursuing people with their kind words, which them to create scams projects and people are complaining about it and regulation such as KYC is invented, just like in gaming we often put our money into a win-win situation and sometimes it is hard for us to trust crypto casino which tend them to make regulations about their platform, and that's what I usually do whenever I play into an bitcoin casino which is Vegas casino in which they perform fair regulation for me and playing variety of games that I love with proper moderation as well as enjoying their great deal of welcoming reward just for doing my deposit into it.

[BeGoods]

Depends.
If it's about bitcoin as a currency then legalized bitcoin could invite more users, then in effect would increase its value.
If it's about bitcoin as an illegal scarce collectible, then the scarcity, difficult to get, risk to store, would also increase its value. Well, it's more like stolen Mona Lisa.

I'd prefer the first option.

I think more positive things will come right, maybe for some decentralized and anonymous currency lovers, they will be disappointed
with that, but for other users, it's not a problem because it helps spread the bitcoin itself, and make more users to come

[Tylev]

State regulation of cryptocurrency circulation within each state is very important for the further development of cryptocurrency. Without government regulation, the infrastructure for using cryptocurrency as a means of payment will not develop. Only when the state establishes the legal status of a cryptocurrency and determines the order and conditions of its circulation in society, and state authorities receive appropriate instructions in relation to the cryptocurrency, only then the whole system will work and the cryptocurrency openly be able to walk in society as a means of payment. Without legalization of cryptocurrency by states, it will continue to be mainly used as an investment tool, and without widespread use of cryptocurrency as a means of payment, its role will decline over time.

[jademaxsuy]

Well bitcoin as a digital currency has succeeded itself in terms of its purpose and use. But the point is that the users are doubt about the system and wants the system to have an approv from the government and an advise that the system is good. Just like other companies that accomplish first the requirements needed to operate the business. This for short called a s license.

So if this system would have a license to operate from the authorities then there is no way that users will going to be afraid in using the system. The adaptation will be highlight and to which bitcoin will be use in accordance to its purpose

[Ahiaba]

I believe that regulation of crypto currency will strengthen the as oppose the view of those notable names you mentioned above. This is because, so many people are yet  to get into crypto currency mainly because it is not regulated by the government and as soon as such is done many people will start adopting Bitcoin and crypto currency in general.