Can REGULATION Really Be Beneficial to Bitcoin?

[Malsetid]

if the regulation suport bitcoin i think it will, but if there are the regulation that makes the bitcoin can't make somthing new i think it will not give the benefit for bitcoin, and bitcoiners. we all hope here that regulation about bitcoin in the future will makes big changes

It's hard to tell in advance which country will regulate Bitcoin in some specifuc way. But I think most of countries would make positive regulation that would give Bitcoin legal framework and some limitations, of course, but will not ban it or put it on the nargins of financial world so I think that regulation could really benefit the Bitcoin.

I think so too. When that happens, it'll probably start a snowball effect of adoption since people will have increased confidence in a regulated system. Even with all the positive effects of a decentralized, anonymous currency like bitcoin, people will feel more secured if they think they have somewhere to run to in case things go wrong and that regulations are implemented to prevent that from happening.

[BTCevo]

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.

Some of them think that with some regulations it will be control by government but I have no idea how they can manage the blockchain. But with some regulations, may be its price will be slowly become stable. You can see past records and compare it when bitcoin is not regulated yet, and you can see how their exchange dropping and spiking without any pattern. For now, it has a better pattern so people can trade it with a better profit

[swordling143]

I would say yes. Regulation would definitely improve the security of our money against fraud and scam since the government would acknowledge crypto related complaints. It means wide acceptance of the government. Holders would enjoy more facilities and businesses that accept cryptocurrency. I just hope that the government wouldn't abuse holders with ridiculous taxes. 

[Carrelmae10]

If the government gets involved in Bitcoin trading, then it can have both positive and negative impact. On the negative side, the crypto users may lose their anonymity, as the government agencies will make KYC mandatory. Also, the tax rules will be strictly implemented, and this can dig a deep hole in to the pockets of many of the users.

..yeah that's right..if government will be involve in the crypto world,,then no one is excempted in paying tax..all people earning in crypto should mandatory pay their taxes,,but the questions is,how much will be the calculation of crypto tax that will be implemented??

[conected]

I would say yes. Regulation would definitely improve the security of our money against fraud and scam since the government would acknowledge crypto related complaints. It means wide acceptance of the government. Holders would enjoy more facilities and businesses that accept cryptocurrency. I just hope that the government wouldn't abuse holders with ridiculous taxes. 

- Of course, the regulation will improve a lot of problems in the bitcoin world and crypto because the government is the one who wants to manage things well and provide safety for people, and want to encourage people to participate in something, ensuring a good environment is something that they cannot lack. However, because these criteria, they will probably maintain the price of bitcoin at a stable level because they always know that bitcoin fluctuations, it can greatly affect and create chaos, and that will not be safe for users, they need to limit and prevent it

[vennali]

Yes, absolutely. In my country I know about a lot of people who wouldn't touch bitcoin because it is unregulated and is illegal to transact in fiat to buy/sell crypto. This is a barrier to a lot of people who don't want harrassment or do rounds of court just for putting in some money into bitcoin. If it was regulated, I am sure that barrier to entry will no longer be there and we would have lesser number of scams, like fiat does.

[kingplaya4]

It's sad that this community seems to favor regulation. If I'm Joe baby boomer, I don't want to do KYC, I'll just use my visa card, thank you very much. A lot of millennials will feel the same way, but a percentage will be okay with it.

Why did I learn about bitcoin? To get around how the US and other governments have pressured Visa and Mastercard not to process gaming site transactions. If bitcoin were regulated in a similar way, it would be useless to me except as a greater fool theory investment. I'm not saying btc is only useful for gambling (in fact I recommend you just hold onto them rather than risk them) but many uses are to get around current regulations. If my btc is taxed, I need an Id record everytime I spend it, I would just use US dollars when I travel, why go through the hassle?

Bitcoin could be worth in the low trillions (market cap) without any regulations. We don't need or want the government involved. The Gold bugs weren't a bunch of idiots in the mid 2000s, their theory was sound. What they failed to realize is that the government regulates the gold market and they were simply not going to allow Gold to go to the moon to compete with the dollar and euro. I felt we were headed for a crash once Wall Street got involved and my gut instinct was correct. So if you want more red tape, post lots of messages whining about market suppression of BTC by fake derivative instrument sales and other actions, then sure, cheer on the regulations.

[Ridwan Fauzi]

Yes, absolutely. In my country I know about a lot of people who wouldn't touch bitcoin because it is unregulated and is illegal to transact in fiat to buy/sell crypto. This is a barrier to a lot of people who don't want harrassment or do rounds of court just for putting in some money into bitcoin. If it was regulated, I am sure that barrier to entry will no longer be there and we would have lesser number of scams, like fiat does.

Honestly if goverment have a thought to regulate cryptocurrency then cryptocurrency will gone from its character, especially in anynomous character. Indeed, regulations from some countries will give a lot of effect in order to all people knows bitcoin and they will use it without any cares. But for the thing of scam/fraud, government has nothing to do with it, still has a lot of way for the scammer to try another ways to slip up subtly and swindey everyone with seductions that hasn't yet comes.

[kingplaya4]

The only way I see regulation being of any benefit is if #1 BTC transactions could somehow become reversible. Someone gets hacked and they can prove it, the funds can be tracked down and returned. Personally I don't think it is needed, after getting hacked once I learned my lesson, and although it isn't impossible it could happen again, I've spread my funds through several wallets with strong security.

#2 Would be if BTC becomes a reserve currency. The USD or Euro or both crash, there's a big conference, and world powers decide they are going with bitcoin. I think this is quite far fetched. While I believe the Ripple people are practically cult like dreamers, they do have a better case were something like this to happen.

Otherwise, regulations just make USD/Euros more attractive for travelling and Visa cards are much easier for everyday transactions. You don't have to pay a premium to buy BTC and you actually get cashback. And if someone steals your identity there's a good chance you'll get your funds back.

People here are SORELY underestimating how the relative privacy and lack of regulations has made bitcoin into a giant.

The reason I wouldn't go all in on bitcoin now is because I see two risk #1 overregulation causing the masses to either lose or never adopt interest in it. #2 Would be another coin with superiority technology, marketing and is more plugged in with the system taking over. As I've said in a previous post I think if btc dies anytime in the next ten years, crypto dies with it, so I think number 1 is our biggest risk.

If anyone on here has any power in governments, please discourage governments from getting involved, except perhaps to shut down bogus cloud miners and other obvious scams like bitconnect.

[hen cet]

I would say yes. Regulation would definitely improve the security of our money against fraud and scam since the government would acknowledge crypto related complaints. It means wide acceptance of the government. Holders would enjoy more facilities and businesses that accept cryptocurrency. I just hope that the government wouldn't abuse holders with ridiculous taxes. 

Regulation will increase bitcoin security from criminals because there is legal protection for bitcoin owners based on regulations issued by a country. Actors of bitcoin crime can be charged by law.
The plus side is that more and more are using bitcoin because they are no longer afraid of being considered illegal. Bitcoin transactions will be available evenly throughout the world so people treat bitcoin as a currency in general.

[S4VV4S]

I think if Bitcoin on the regulation and set out in a statutory Government then society will increasingly believe and will make them dare to become investors Bitcoin, because if one day happen to their investment fund fraud then they (community) would be able to sue the Government.

[Asmonist]

I think its needed. Especially now that its growing and there are reports of crimes and spams. Basically its somehow directly affect the usual flow that it had. But as this business grows, regulations need to be implemented to regulate its flow.

[jak3]

there are many pros and cons of this action. Regulation can surely rectify many huge problems such as security issues, theft control and exchanging coins for illegal goods in the tor network. but on the other hand, our privacy will be compromised and bitcoin will be in control of government, and something which was made against government can be said that if government tries to take over it still they won't have the complete control over the network as because the blockchain is controlled by the miners and the price is controlled by whales and other traders.

[Babylon]

Regulation can be beneficial to bitcoin because it will help bitcoin to get more people into its cryptocurrency space because people will trust bitcoin more because they know that it is regulated and they will no longer believe to the people who are keep on saying that bitcoin is a scam and it is not a good investment.

[BitDane]

I think regulation would be extremely beneficial for bitcoin as it will be much more accepted in public and for uses around the globe. Regulation would make bitcoin a recognized currency for the mass to use.

[CryptoBry]

Yes, absolutely. In my country I know about a lot of people who wouldn't touch bitcoin because it is unregulated and is illegal to transact in fiat to buy/sell crypto. This is a barrier to a lot of people who don't want harrassment or do rounds of court just for putting in some money into bitcoin. If it was regulated, I am sure that barrier to entry will no longer be there and we would have lesser number of scams, like fiat does.

Regulation can be good for Bitcoin and the whole cryptocurrency industry as regulation can mean that Bitcoin will be integrated into the financial ecosystem and not anymore considered to be illegal. In this case, regulation can be opening up a bigger market for Bitcoin. This is fact what we should be wishing and working for. I am sure that those in the government are open to the many ideas and suggestions by those in this industry so they can come up with acceptable terms and conditions.

[Wakhid Mukti]

Yes, absolutely. In my country I know about a lot of people who wouldn't touch bitcoin because it is unregulated and is illegal to transact in fiat to buy/sell crypto. This is a barrier to a lot of people who don't want harrassment or do rounds of court just for putting in some money into bitcoin. If it was regulated, I am sure that barrier to entry will no longer be there and we would have lesser number of scams, like fiat does.

well done, good! That's right, regulation is the determinant of Bitcoin games here. Without the regulation of Bitcoin it will only be like this, it will not develop, many people will ignore and do not want to know about bitcoin if the regulation does not accompany it. This is the same thing as a business entity which without permission and regulations from the government will be categorized as illegal. And no one wants to deal with illegal business.

[KingScorpio]

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...

dont worry about bitcoin regulation,

bitcoin cant be regulated, neither to damage it and nor to spread/upvalue it.

everyone claming something else is just a liar, or agenda driven gimmick be it a pro bitcoin agenda troll or anti bitcoin agenda troll.

bitcoin is neutral except when it comes to mining. there the POW nature/regulation of bitcoin is visible.

[Strongkored]

I do not think that regulation will make the price of Bitcoin cheaper, even if it goes down not because of more regulation to the market that is waiting for a reaction to what will happen after the regulation is set. I see a decline in Bitcoin prices due to large investors taking advantage of the newly issued regulations to make the market panic until finally prices down.

[Seeker#9]

It depend on the kind of regulation a government would want to impose in their country. If the government chooses to have a restrictive regulation, its people can't able buy or trade bitcoin without the approval of its central bank. But if a regulation is designed to protect the people from any scams, money laundering, drug trafficking and other illegal activities, it will be beneficial to bitcoin and other cryptocurrencies that under it. A group of wealthy nations has already planning to create a worldwide regulation for bitcoin and I believe that a lot of people will be benefitted from this once it is fully implemented.