Regulations only for BTC to increase in FIAT value?

[Falgorn]

Regulations is not needed for bitcoin and it won’t fit it. This has been repeated many times unless we want to defeat the aim of decentralization and privacy then we will be heading back to the old monetary systems. What can be regulated is the bodies that trades these assets like exchnages and the likes to safeguard people’s funds.

We need regulation of cryptocurrency in any case. Without government regulation, people will only be able to send transactions in the cryptocurrency between themselves, business structures will not be able to use the cryptocurrency, since this issue will not be resolved for them and in the case of calculations in the cryptocurrency, they can be obliged to rally large penalties. Also, without government regulation, the infrastructure for using Bitcoin and other cryptocurrency as a means of payment will not develop at all. No one wants to risk if the cryptocurrency is not properly legalized. Therefore, for the further development of cryptocurrency without state regulation, that is, determining the official status of cryptocurrency and establishing the order and conditions of its circulation in the state, we cannot do.

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[sunsilk]

There can be some regulations on the process to avoid such fraud transactions, related to illegal trades just like what OmegaStarScream mentioned at the very first post. Exchanges are mandated to comply with these regulations.

But for each individual, we are still good for p2p deals that no one can interfere. Since there's an outflowing money in the market, regulators would come and seek the interest out of it. In every emerging market, regulations do really come but this won't break bitcoins main character as decentralized cryptocurrency. They want to regulate the market that comes on their jurisdiction.

And that mindset when there's regulation, price will increase, you cant remove that. Once the gov't says it's a good type of store of value and it's legal, people who doubted it will come and try it.

[hxtop]

There is a possibility of making some regulation without damaging concept of decentralization and p2p transaction. Experts may find some way to make crypto currencies user friedly and flexible and everybody may enjoy advantages of this kind of regulations.

[jakelyson]

Most people believe that if something is regulated by the government, it is safe. So in this instance, if crypto is properly regulated, those who have doubts about crypto will at least change their views about it. This will usher in greater adoption for cryptocurrency. Regulation will not affect p2p transactions.

[jakezyrus]

Most people believe that if something is regulated by the government, it is safe. So in this instance, if crypto is properly regulated, those who have doubts about crypto will at least change their views about it. This will usher in greater adoption for cryptocurrency. Regulation will not affect p2p transactions.

what you are saying is true  . so in short regulation really help the price of bitcoin to go up  . regulation also have other good effects such as combating some frauds and scamming  .  combating abusers in the form of kyc  and others ...  however some says that regulation kills the anonimity of bitcoin and othe cryptos because it exposes us our identity like for example in the form of kyc we are requested to give our id's and selfies  .   regulation can be both good and bad   . 

[Pumared]

Hi all!

People in this forum and in many other discussions are fast to talk about the 'need for regulations'.

Most of the times it is in connection to mass adoption and for price speculation ideas.

Is regulations really only for Bitcoin to increase in price? What about the whole idea about a P2P currency without governments and banks being involved as a middle man .... Regulations issued by authorities, is that not only for the old system to take control of this emerging p2p currency market? I dont know but why should Bitcoin be regulated by governments and other authorities according to you?

A regulation would not be in the currency itself, but in the market that surrounds it. For example, regulate the exchanges, where all will charge documents, limits, and so on.

[Indrawan77]

We only need the permit from the government, we actually don't need any regulation, bitcoin p2p transaction is the greatest transaction system, unfortunately not all governments are fond of this idea, they don't want something that they can't control, so in order to become big we need the government's permission and regulation also could increase the investors trust level

[Cashtelexexchange]

With bitcoin regulation, it will be less likely to be used for scam and illegal activities since it will be punisheable by law. The reason why government is not fully agreed with crypto is that it can be used illegally imagine if a big crime money will be moved via crypto, it is less likely to be tracked since it is decentralized and users are anonymous.

Bitcoin regulation wont stop illegal activities, those who want to do illegal activities basically do not care about the law. Far away before bitcoin was launched, illegal activities were done using fiat money.
If what you mean by regulation is that bitcoin transactions will be traceable by the government then I dont think bitcoiner will be agree with the regulations. One of the main benefit of bitcoin that makes many people invest their money and use bitcoin is about its anonymity.

I agree "Bitcoin regulation wont stop illegal activities, those who want to do illegal activities basically do not care about the law. Far away before bitcoin was launched, illegal activities were done using fiat money. "

[Pursuer]

the talks about regulations and the way certain people think it is positive have only started in 2018 when price was going down  and everyone was becoming desperate thinking there is no way price can go up because it was the first time they were seeing a bubble. so they started looking for excuses that may increase the price, including regulations, ETF, SEC approval in general and a lot of silly things like that.

the fact is bitcoin was created in a decentralized way and its whole purpose is to not need any kind of regulations by any government in the world. so it is meaningless to talk about I!
at the same time regulations can affect the adoption and consequently the price of bitcoin. we have seen different cases of it. for example the Indian and Chinese restrictive regulations have slowed down the adoption while being incapable of stopping it and at the same time Japanese and... regulations have helped speed up the adoption and contributed to the huge rise of 2017.

[Firecold4]

because if bitcoin is not regulated by the government and the authorities, bitcoin can change the world economy which initially China and America controlled the world economy with the use of dollars in most of the world now Japan that controls the world economy because bitcoin from Japan is more widely used throughout the world

[Kakmakr]

Just remember that not everyone is invested in Bitcoin to use it as a alternative currency. A lot of people are simply invested in Bitcoin for it's speculative value and the possibility for some huge profits and it is mostly those people that are promoting the introduction of government regulation.

They want to attract institutional capital investments, because they know it will have a significant impact on the price and institutional investments require a lot of regulation, before it can be invested into speculative assets or commodities. 

[Slow death]

People in this forum and in many other discussions are fast to talk about the 'need for regulations'.

we urgently need regulations

Most of the times it is in connection to mass adoption and for price speculation ideas.

Because it's true

Is regulations really only for Bitcoin to increase in price?

No, it is necessary to improve every crypto market. Let's put things in practice:

- you have $ 30,000 and you want to buy bitcoin, depending on the country where you live, you will have a lot of headaches to buy bitcoin, the banks of many countries create barriers for people who want to buy bitcoin. But if all the countries in the world legalized bitcoin, then people would easily buy bitcoin using their bank accounts.

- This:

My Bittrex account has been disabled.

Yobit Scam withholding 10BTC

MERCATOX BTC WITHDRAWAL

Hitbtc.com is a scamsite- beware

BiteBTC.com disabled my account for no reason

Would you use those exchanges after you know what I've posted? But if we had laws overseeing the exchanges, then we would not have many cases like these and the exchanges would be doing good services

What about the whole idea about a P2P currency without governments and banks being involved as a middle man .... Regulations issued by authorities, is that not only for the old system to take control of this emerging p2p currency market?

People on the internet when they have a little power become very arrogant, this is more than clear looking at the crypto world. so it is better to trust the police and the courts and for this we need clear regulation.

I dont know but why should Bitcoin be regulated by governments and other authorities according to you?

access to justice and security. if I'm going to buy Bitcoin, then I should have my bitcoins. If I am robbed then I can report the case to the police and get justice. We can not allow exchange owners to be anonymous and have anonymous addresses... where and how will you complain if you are stolen?

and to conclude, I will show the most serious case:

Lost blockchain.info wallet id, support ignores me (0.05 bounty for help)

let's assume that Mr. Z was someone very wealthy and kept many bitcoins in the wallet of blockchain.com, and Mr. Z says to his wife and children: "The day I die, take the document that proves that I died and give to the support of the blockchain.com that they will deliver you all my bitcoins ". What do you think will happen on the day that Mr. Z die? the wife and children would deliver the documents to Blockchain.com support and Blockchain.com support would ignore them.

Yes, every day it becomes more evident that the crypto world is full of irresponsible, childish service providers and we urgently need laws. for serious and responsible people to enter this market

[okala]

The decline in price of bitcoin within the 2018 bearish market made many to believe that regulations will bring more adoption of bitcoin which will lead to price recovery and increase, but that is just a speculation and has no basis. Because what make bitcoin unique in both operation and price is it decentralized nature and the freedom from government involvement.

[bitbunnny]

The decline in price of bitcoin within the 2018 bearish market made many to believe that regulations will bring more adoption of bitcoin which will lead to price recovery and increase, but that is just a speculation and has no basis. Because what make bitcoin unique in both operation and price is it decentralized nature and the freedom from government involvement.

I can't agree. Regulation of Bitcoin would give it legitimacy and sone legal security which would also lead to biger adoption, especially by businesses. Regulation doesn't affect decentralized nature of Bitcoin so there is no need for fear. Consequently positive regulation could affect also the positive corrections of price.

[rahmatullah9305]

This virtual currency trading company, considers the discovery of bitcoin as revolutionary because there is no body or state that regulates it. Because it uses P2P networks, transactions between users occur directly without involving third parties, such as banks or other institutions.

[Oasisman]

This virtual currency trading company, considers the discovery of bitcoin as revolutionary because there is no body or state that regulates it. Because it uses P2P networks, transactions between users occur directly without involving third parties, such as banks or other institutions.

But the government has pointed out a very solid ground to regulate Bitcoin. Everything might be slowly changing but it doesnt mean it will affect the price in a negative way, although the government might not only thinking about AML, as they could also monitize cryptocurrency by putting taxes in every transactions made in the exchange. Neverthless, it'll also help to the mass adoption of Bitcoin.

[darklus123]

Is regulations really only for Bitcoin to increase in price?

It can be a factor that we can consider for the bitcoin price increase, but obviously there are still a lot of factors.

What about the whole idea about a P2P currency without governments and banks being involved as a middle man .... Regulations issued by authorities, is that not only for the old system to take control of this emerging p2p currency market? I dont know but why should Bitcoin be regulated by governments and other authorities according to you?

The very disadvantage of bitcoin is that it is mostly being used for illegal activities, therefore through regulations the government can somehow take control of the bitcoin market flow within their territories. By that being said it will/might lessen the problem. If bitcoin is being regulated tho, it can really affect how bitcoin user's actions and that is exactly the main reason why most of the bitcoin users doesn't liked it. (Full control = No  Freedom)

Just like what is currently happening to China, government can really be so toxic sometimes especially if it involves money.

There are certain loopholes tho for the current government regulations for the different countries. Most of the concerns are tax evasion and you can easily hide your wealth(by the power of all mighty bitcoin)

[betty11]

Different States and government will eventually have their own policy as regarding bitcoin operations, this is not to alter the original vision of the bitcoin, which off course can't be altered. We have seen many unregulated, unregistered exchanges trading bitcoin and using such platforms in conducting IEO and some other business, and sometimes few of these exchanges get hacked or the owners just  vanished to into the thin air leading to scam, all these have caused untold emotional trauma to both traders and investors, fearing to invest in the future. The government need to roll out frame works about Cryptocurrency in other to protect investors from scammers and some other elements.

[Dreamchaser21]

Most people believe that if something is regulated by the government, it is safe. So in this instance, if crypto is properly regulated, those who have doubts about crypto will at least change their views about it. This will usher in greater adoption for cryptocurrency. Regulation will not affect p2p transactions.

A best reason why this market should be regulated well. We believe on this and if the government support this one we know its going to be a good services. But i guess we are far from this, so far we are doing good despite of no regulations. The value of bitcoin will be more expensive when this happen, its possible.

[hyunee]

Eventually bitcoin regulations can make the price go up. Since the government is regulating bitcoin, then this will give high adoption of bitcoin from the world. Regulation can make bitcoin not used in some sort of drugs and illegal activities.